Myriad Genetics 8-K
EarningsGuidance reaffirmedImpairment / charge
UnitedHealthcare’s coverage change hit GeneSight sales and offset Q4 growth; Prenatal volume fell amid an order-system transition.
Filed 2026-02-23 16:07 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q4 and FY2025 results with FY2026 guidance reiterated. Q4 revenue was flat Y/Y as reported, but grew 4% excluding an $8.1M UnitedHealthcare coverage headwind. FY2025 revenue fell 2%, or grew 2% excluding the UnitedHealthcare headwind and the EndoPredict divestiture.
Key Figures
| Metric | Q4 2025 | Q4 2024 | Y/Y |
|---|---|---|---|
| Revenue | $209.8M | $210.6M | 0% |
| Operating loss | $(5.7)M | $(39.0)M | n/m |
| Net loss | $(7.9)M | $(42.5)M | n/m |
| Adjusted EBITDA (non-GAAP) | $14.3M | $10.6M | 34.9% |
| Diluted EPS | $(0.08) | $(0.47) | n/m |
| Adjusted diluted EPS (non-GAAP) | $0.04 | $0.03 | 33.3% |
| Operating cash flow | $10.6M | $6.6M | 60.6% |
| Adjusted operating cash flow (non-GAAP) | $17.9M | $15.4M | 16.2% |
| Adjusted free cash flow (non-GAAP) | $11.9M | $9.5M | 25.3% |
| Test volume | 382,000 | 374,000 | 2% |
- FY2025 revenue was $824.5M vs $837.6M, down 2%; net loss was $(365.9)M vs $(127.3)M, including $319.4M of goodwill and long-lived asset impairment, primarily associated with Mental Health and Women’s Health. Adjusted EBITDA was $38.9M vs $40.4M; adjusted diluted EPS was $0.06 vs $0.14.
- Q4 test-volume growth included Hereditary cancer +9%, Mental Health +9% and Tumor Profiling flat; Prenatal volume fell 6% amid transition to a new order management system. GeneSight revenue was down 10%, reflecting the UnitedHealthcare coverage change.
- Cash and cash equivalents were $149.6M at year-end vs $102.4M a year earlier; balance-sheet long-term debt was $119.9M vs $39.6M.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | FY2026 | $860M-$880M | — | Reaffirmed |
| Adjusted gross margin (non-GAAP) | FY2026 | 68%-69% | — | — |
| Adjusted EBITDA (non-GAAP) | FY2026 | $37M-$49M | — | — |
| Revenue | Q1 2026 | $200M-$203M; 2%-4% growth Y/Y | — | — |
| Adjusted EBITDA (non-GAAP) | Q1 2026 | Near breakeven | — | — |
| Revenue | 2H 2026 | Greater than 1H 2026 | — | — |
The company does not provide forward GAAP gross margin or net income guidance because it cannot reconcile those measures without unreasonable effort.
Investor Takeaways
- Watch the planned Precise MRD targeted alpha launch for breast cancer in March 2026, AI-enabled Prolaris commercial launch in Q2 2026, and FirstGene launch in 2H 2026.
- Prenatal volume recovery and the company’s expectation of reaccelerating prenatal growth in coming quarters remain key operating developments.
The summary is written by an AI model reading the filing.
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