The magnitude of the miss and guidance cut signals worsening payer dynamics and execution challenges in Prenatal Health. Watch for further details on the Ascend restructuring and any strategic portfolio review outcomes. The stock is likely to trade down sharply; consider short-term bearish positioning until visibility improves.
Price Chart
Executive Summary
Myriad Genetics reported Q2 2026 revenue of $190.7M (11% YoY decline, 7.4% below consensus) and adjusted EPS of -$0.25 (vs consensus -$0.06, a 317% miss). The company lowered full-year 2026 revenue guidance to $770-790M and suspended Adjusted EBITDA guidance, citing payer friction, Prenatal Health volume declines, and a $11M revenue reduction from prior-period collection estimate changes.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $190.7M vs consensus $206.0M (-7.4% miss) and vs $213.1M YoY (-11%)
- Adjusted EPS -$0.25 vs consensus -$0.06 (-316.7% miss); GAAP EPS -$0.46
- Full-year 2026 revenue guidance lowered to $770-790M (from undisclosed prior range); Adjusted EBITDA guidance suspended
- Prenatal Health revenue fell 16% YoY on 9% volume decline; Cancer Care Continuum revenue down 11% YoY despite 6% volume growth
- Gross margin 66.6% vs 71.2% YoY, down 460 bps
- Operating cash outflow $8.3M; adjusted free cash flow -$10.9M; cash $115.2M
- Company launched Ascend initiative with professional services firm to improve efficiency and scalability
Financial Impact
Revenue miss of $15.3M vs consensus; EPS miss of $0.19; guidance cut implies ~$20-30M reduction at midpoint vs prior expectations
Risk Factors
- Continued payer friction and reimbursement pressure on hereditary cancer testing
- Prenatal Health volume declines may persist
- Cash burn ($34.5M in H1 2026) could necessitate financing if trends continue
- Execution risk on Ascend initiative and strategic review
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3336418 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | 8-K | $3.86 $4.01 | ▲ +3.89% | ▲ +1.32% | $4.54 (+17.62%) |
Sep 16, 2026 16d ago | Press Release | $3.86 $4.01 | ▲ +3.89% | ▲ +1.32% | $4.54 (+17.62%) |
Aug 4, 2026 8w ago | Press Release | $3.17 $3.22 | ▼ −1.58% | ▼ −1.68% | $4.54 (−43.22%) |
Jul 30, 2026 9w ago | Press Release | $2.86 $3.26 | ▼ −13.99% | ▼ −10.47% | $4.54 (−58.74%) |
May 27, 2026 18w ago | Press Release | $3.93 $4.31 | ▲ +9.67% | ▲ +8.46% | $4.54 (+15.52%) |
Mar 17, 2026 28w ago | Press Release | $4.64 $4.68 | ▲ +0.86% | ▲ +1.58% | $4.54 (−2.16%) |
Feb 28, 2026 30w ago | Institutional Cluster | $5.01 $4.81 | ▼ −3.99% | ▼ −2.78% | $4.54 (−9.38%) |
Feb 24, 2026 31w ago | S-3 | $4.78 $5.28 | ▲ +10.46% | ▲ +11.56% | $4.54 (−5.02%) |
US Market Status
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