Myriad Genetics Reports Mixed Q1 2026 Results, Reiterates Full-Year Guidance
Event summary
- Myriad Genetics reported Q1 2026 revenue of $200.4 million, up 2% year-over-year, driven by stable test volume and a 2% increase in average revenue per test.
- Test volume grew 13% year-over-year in Cancer Care Continuum and 7% in Mental Health, offset by a 12% decline in Prenatal Health.
- Launched Precise Molecular Residual Disease (MRD) assay and received FDA approval for MyChoice CDx as a companion diagnostic for Zejula®.
- Q1 2026 gross margin was 68.7%, up 20 basis points from Q1 2025, with a GAAP net loss of $34.1 million.
- Reaffirmed full-year 2026 revenue guidance of $860–$880 million, expecting stronger performance in the second half.
The big picture
Myriad Genetics is doubling down on its Cancer Care Continuum business, which showed strong growth in Q1 2026, while addressing challenges in Prenatal Health. The company's strategic focus on precision oncology and molecular diagnostics aligns with broader industry trends toward personalized medicine. However, its ability to achieve full-year guidance hinges on sustained momentum in key segments and successful execution of new product launches.
What we're watching
- Cancer Care Growth
- Whether Myriad can sustain the 13% year-over-year growth in Cancer Care Continuum test volume amid ongoing investments in germline testing.
- Prenatal Health Recovery
- The pace at which Prenatal Health test volume rebounds after a 12% decline, following disruptions from the new order management system.
- Product Innovation
- How the launch of the AI-enabled prostate cancer test and other planned launches in 2026 will impact revenue growth in 2027 and beyond.
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