Myriad Genetics Slashes Guidance After Q2 Miss; Securities Investigation Launched
Event summary
- Myriad Genetics reported Q2 2026 revenue of $190.7M, missing consensus by 7-8% and down 11% YoY.
- Full-year 2026 revenue guidance cut by ~$90M at midpoint to $770-$790M from $860-$880M.
- Adjusted EBITDA guidance suspended entirely; previously projected at $37M-$49M.
- Management cited reimbursement pressure, collections issues, and weaker prenatal testing performance.
- Levi & Korsinsky investigating potential securities law violations on behalf of MYGN investors.
The big picture
Myriad's sharp downward revision reflects broader pressures in the diagnostic testing sector, where reimbursement models are shifting and competition is intensifying. The securities investigation adds governance risk to an already challenging operational environment. With $190M+ in quarterly revenue at stake, the company's ability to navigate these headwinds will be critical for maintaining market positioning.
What we're watching
- Reimbursement Pressures
- How sustained reimbursement challenges will impact Myriad's pricing power and test volume.
- Operational Execution
- Whether management can stabilize collections and improve prenatal testing performance.
- Investor Confidence
- The pace at which investor sentiment recovers following the guidance cut and investigation.
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