Myriad Q3 Revenue $202.7M, Net Loss $43.9M; Raises FY26 Revenue Guidance Midpoint
MYGN has more than doubled off its 52-week low of $2.74.
Summary
Myriad reported Q3 2026 revenue of $202.7 million and a $43.9 million net loss, and raised the midpoint of its full-year revenue guidance to $780-$790 million while it works toward closing the $210 million prenatal business sale to Labcorp.
Key Events · Earnings and Guidance · MYGN
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Q3 Revenue $202.7M, Down 1% YoY
Revenue was $202.7 million versus $205.7 million a year earlier, but up 6% sequentially. Cancer Care Continuum contributed $123.9 million and Mental Health $39.5 million, while Prenatal Health fell 12% to $39.3 million.
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Net Loss Widens to $43.9M
Net loss was $43.9 million, or $0.46 per share, versus $27.4 million ($0.29) in Q3 2025. Operating loss was $39.9 million and gross margin fell 200 basis points to 67.9%.
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FY26 Revenue Guidance Midpoint Raised
Full-year 2026 revenue guidance is now $780-$790 million, with Cancer Care Continuum and Mental Health at $620-$630 million and Prenatal Health at roughly $160 million. Adjusted gross margin is guided to 66%-67%.
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Cash Falls to $107.1M
Cash and equivalents were $107.1 million at September 30, 2026, down from $149.6 million at December 31, 2025. Q3 operating cash use was $6.5 million and adjusted free cash flow was $1.6 million, against $121.1 million of long-term debt.
Analysis · MYGN · Life Sciences
Revenue of $202.7 million came in 1% below last year but 6% above Q2, and the company lifted the midpoint of its full-year revenue range to $780-$790 million. The quarter still produced a $43.9 million net loss ($0.46 per share) and $6.5 million of operating cash burn, leaving $107.1 million of cash against $121.1 million of long-term debt. Management is counting on the $210 million Labcorp prenatal sale, expected to close by early 2027, to fix profitability and liquidity; until it closes, the core Cancer Care Continuum and Mental Health business carries the story.
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At the time of this filing, MYGN was trading at $6.72 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $575.8M. The 52-week trading range was $2.74 to $8.09. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.