Key Highlights

  • Third-quarter Revenue reached USD 202.7 million, 6% above the second quarter and 1% below the USD 205.7 million reported a year earlier, with higher revenue per test offsetting weaker volume.
  • A deal signed October 19, 2026 would hand the Prenatal Health unit to Labcorp for USD 210 million in cash, plus inventory value at closing, with completion slated by early 2027.
  • The net loss widened to USD 43.9 million, or USD 0.46 per share, from USD 27.4 million, or USD 0.29, a year ago, while the operating loss reached USD 39.9 million.
  • Full-year 2026 revenue guidance sits at USD 780 million to USD 790 million with the midpoint raised, and cash and equivalents dropped to USD 107.1 million from USD 149.6 million at the end of 2025.

Mix Improvement Offsets Lower Volume and Wider Losses

On November 4, 2026, Myriad Genetics (NASDAQ:MYGN) published third-quarter 2026 figures; the molecular diagnostics firm works in precision medicine. Sales of USD 202.7 million were 1% lower than a year earlier, but revenue per test climbed 1% annually and 7% sequentially, helped by a better Cancer Care Continuum mix. Tests processed dropped 2% to 377,000 in total. Gross Margin contracted 200 basis points to 67.9%, reflecting fewer tests and more laboratory staff. Total operating costs rose to USD 177.6 million from USD 167.1 million, while the adjusted figure grew by USD 9.9 million, landing at USD 149.9 million.

Prenatal Sale Reshapes the Revenue Mix Going Forward

Prenatal Health, home to the Prequel, Foresight, SneakPeek and FirstGene tests, brought in USD 39.3 million during the quarter, a 12% decline, as its test count fell 11% to 138,000. Going the other way, Cancer Care Continuum and Mental Health testing climbed 3% to 239,000, and those two areas together generated USD 163.4 million, up 1%. Leadership expects the divestiture to lift revenue growth and profit and to reinforce the Balance Sheet after completion, provided regulators sign off and other standard conditions are met. Outlook is now split by business, with USD 620 million to USD 630 million assigned to Cancer Care Continuum and Mental Health and roughly USD 160 million to Prenatal Health. For the year, adjusted gross margin is projected between 66% and 67%.

Cash Position and Nine-Month Losses Shape the Balance Sheet

Operating activities consumed USD 6.5 million of cash, yet adjusted Operating Cash Flow came in positive at USD 3.7 million, leaving adjusted free cash flow at USD 1.6 million after USD 2.1 million in Capital outlays. On the balance sheet, cash and equivalents totaled USD 107.1 million while long-term Debt sat at USD 121.1 million. Across nine months, sales reached USD 593.8 million against USD 614.7 million previously, and the net loss shrank to USD 121.2 million from USD 358.0 million, a change tied to a USD 316.7 million Impairment recorded in the prior-year period. No earlier guidance range or consensus estimate appears in the release, so the scale of the midpoint increase cannot be determined from it. Using the current range, the midpoint works out to USD 785 million, a calculated figure rather than a reported one.

Where Things Stand

The Prenatal Health sale is a shift toward cancer care and mental health testing, where volume is rising, while the unit being sold is contracting. Myriad Genetics (NASDAQ:MYGN) still posted a wider quarterly loss and lower cash, so the timing of the USD 210 million proceeds carries weight. Next checkpoints are regulatory clearance, the early 2027 completion target, adjusted gross margin against the 66% to 67% range, and whether payer engagement keeps lifting revenue per test. The release includes no share price reaction to read against these figures.