Financial Performance - Q3 2025 revenue was $205.7 million[7], a decrease of 4% year-over-year[33] - Adjusted gross margin in Q3 2025 was 70.1%[7], a decrease of 50 basis points year-over-year[33] - Adjusted EBITDA for Q3 2025 was $10.3 million[7] - Adjusted EPS for Q3 2025 was $0.00[7], a decrease of $0.06 year-over-year[33] - Adjusted operating expenses decreased by $1 million year-over-year in Q3 2025[7] Volume Growth - Hereditary cancer test volume grew 11% year-over-year[8] - GeneSight volume grew 8% year-over-year[8], reflecting ongoing growth acceleration from Q1 '25[30] - Prolaris test volume showed positive growth year-over-year[8] Strategic Initiatives - The company is focused on the Cancer Care Continuum (CCC) to accelerate growth[7, 9, 11] - The company aims to grow revenue at or above market in Prenatal Health and Mental Health[7, 9, 12] - Myriad has commenced a multi-year program to invest >$35 million in its commercial capabilities addressing the Cancer Care Continuum[40] 2025 Financial Guidance - The company reiterates its 2025 financial guidance, with total revenue expected to be between $818 million and $828 million[42] - Gross margin is projected to be between 69.5% and 70.0%[42] - Adjusted operating expenses are expected to be between $562 million and $568 million[42] - Adjusted EBITDA is projected to be between $27 million and $33 million[42] - Adjusted EPS is expected to be between $(0.02) and $0.02[42]

Revenue Performance - Third quarter 2025 revenue was $205.7 million, a decrease of 4% year-over-year, but flat when excluding headwinds of $8.1 million[4] - Total revenue for the three months ended September 30, 2025, was $205.7 million, a decrease of 4% compared to $213.3 million in the same period of 2024[26] - Total revenue for the nine months ended September 30, 2025, was $614.7 million, a decrease of 2% from $627.0 million in the same period of 2024[26] - Total revenue for the nine months ended September 30, 2025, was $429.8 million, compared to $434.5 million for the same period in 2024, showing a slight decline[39] Segment Performance - Hereditary cancer testing revenue grew 3% year-over-year to $93.0 million, with volume increasing by 11%[5] - GeneSight test revenue was $38.7 million in the third quarter 2025, despite a decrease in coverage impacting overall performance[12] - Hereditary Cancer revenue increased by 3% to $93.0 million in Q3 2025, compared to $90.5 million in Q3 2024[23] - Tumor Profiling revenue decreased by 7% to $29.5 million in Q3 2025, down from $31.6 million in Q3 2024[23] Financial Metrics - Gross margin for the third quarter 2025 was 69.9%[4] - Adjusted EBITDA for the third quarter 2025 was $10.3 million, while GAAP net loss was $27.4 million, or $0.29 per share[4] - Adjusted Gross Profit for Q3 2025 was $144.1 million, compared to $150.5 million in Q3 2024, reflecting a decrease of 4.5%[39] - Adjusted Gross Margin for Q3 2025 was 70.1%, slightly down from 70.6% in Q3 2024[39] - Adjusted Operating Income for Q3 2025 was $4.1 million, down from $9.5 million in Q3 2024, indicating a decline of 56.8%[45] - Adjusted EBITDA for the three months ended September 30, 2025, was $10.3 million, down from $14.1 million in the same period of 2024[57] Cash Flow and Expenses - Cash flow from operations in the third quarter 2025 was $21.1 million, with adjusted operating cash flow at $24.8 million[6] - Operating expenses decreased by $2.7 million year-over-year to $167.1 million, reflecting disciplined cost management[9] - Operating expenses for Q3 2025 totaled $167.1 million, slightly down from $169.8 million in Q3 2024[26] - Research and development expenses for Q3 2025 were $28.2 million, consistent with $28.5 million in Q3 2024[26] - The company reported net cash used in operating activities of $8.8 million for the nine months ended September 30, 2025, compared to $15.3 million for the same period in 2024[65] Strategic Initiatives - The company entered a strategic collaboration with SOPHiA GENETICS to develop a global liquid biopsy companion diagnostic testing solution[4] - The company’s partnership with SOPHiA GENETICS aims to enhance its capabilities in clinical trials and companion diagnostic test development[32] - Myriad Genetics plans to launch its first AI-enabled prostate cancer test in partnership with PATHOMIQ in the first half of 2026[13] - The company plans to commercially launch its first AI-driven prostate cancer test in partnership with PATHOMIQ in the first half of 2026[32] - The company is actively managing its strategic realignment and transformation initiatives to improve operational efficiency and market positioning[49] Impairment and Losses - The company reported a net loss of $27.4 million for Q3 2025, compared to a net loss of $22.1 million in Q3 2024[26] - The company incurred $316.7 million in impairment expenses related to goodwill and long-lived assets for the nine months ended September 30, 2025[59] - The company reported a significant impairment expense of $316.7 million for the nine months ended September 30, 2025, primarily related to its Pharmacogenomics and Women's Health units[46] Management Commentary - The company has faced risks related to competition and the ability to launch new tests profitably, which may impact future revenue growth[33] - The company does not provide forecasts for GAAP operating expenses or net income due to unpredictability in certain elements of reported results[37] - Management emphasizes the importance of non-GAAP financial measures for understanding core operating results and comparisons across periods[35] Shareholder Information - The weighted average diluted shares outstanding for the three months ended September 30, 2025, was 93.8 million, compared to 92.6 million for the same period in 2024[51] - The company recognized $12.2 million in equity compensation for the three months ended September 30, 2025, consistent with $12.3 million in the same period of 2024[57] - The company’s total depreciation expense for the three months ended September 30, 2025, was $4.8 million, compared to $4.4 million for the same period in 2024[57]

Core Insights - Myriad Genetics reported third-quarter 2025 financial results, showing stable revenue performance and a 13% year-over-year volume growth for its MyRisk hereditary cancer test [2][3]. Financial Performance - Third-quarter 2025 revenue was $205.7 million, a decrease of 4% year-over-year, but flat when excluding headwinds of $8.1 million [5][7]. - The gross margin for the third quarter was 69.9% [5]. - The company reported a GAAP net loss of $27.4 million, or $0.29 per share, while adjusted EPS was $0.00 [5][12]. - Adjusted EBITDA for the third quarter was $10.3 million [5]. Product Volumes and Revenue - Total product volumes for the third quarter were 386,000, reflecting a 3% year-over-year increase [6]. - Hereditary cancer testing revenue grew 3% year-over-year to $93.0 million, with volume increasing by 11% [7][11]. - Tumor profiling revenue decreased by 7% year-over-year to $29.5 million, primarily due to a decline in testing volume for EndoPredict [7][12]. - Prenatal testing revenue increased by 2% year-over-year to $44.5 million, while pharmacogenomics revenue decreased by 19% to $38.7 million [7][14]. Cash Flow and Liquidity - Cash flow from operations for the third quarter was $21.1 million, with adjusted operating cash flow at $24.8 million [8]. - As of September 30, 2025, the company had cash and cash equivalents of $145.4 million [9]. Strategic Initiatives - The company entered a strategic collaboration with SOPHiA GENETICS to develop a global liquid biopsy companion diagnostic testing solution for pharmaceutical companies [5][13]. - Myriad Genetics is focusing on the Cancer Care Continuum and has made organizational changes to improve customer experience and reduce operating expenses [3][12]. Financial Guidance - The company reaffirmed its full-year 2025 revenue guidance in the range of $818 million to $828 million, with expected gross margins between 69.5% and 70.0% [16]. - Adjusted EBITDA guidance remains unchanged at $27 million to $33 million [16].

Core Insights - Myriad Genetics announced that treatment informed by the GeneSight test resulted in faster initial remission and response in patients with Major Depressive Disorder (MDD), with benefits persisting over six months [1][2][3] Group 1: Study Overview - The PRIME Care study is the largest pharmacogenomic randomized controlled trial in mental health, enrolling 1,944 U.S. Veterans with depression to assess the impact of GeneSight results on treatment outcomes [2][4] - The study found that patients whose clinicians had GeneSight results were significantly more likely to achieve remission over 24 weeks, with a 28% higher likelihood compared to the usual care group [5][6] Group 2: Post-Hoc Analysis Findings - The post-hoc analysis included 1,764 veterans and focused on the time to first remission and response, showing that GeneSight test results increased the rate of remission and response over time [3][6] - Patients who took the GeneSight test were 27% more likely to achieve remission and 21% more likely to experience a significant reduction in depressive symptoms [8] Group 3: GeneSight Test Information - The GeneSight Psychotropic test is a leading pharmacogenomic test for over 60 medications commonly prescribed for mental health conditions, aimed at reducing the trial-and-error process in medication prescribing [7][8] Group 4: Company Background - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, dedicated to advancing health and well-being through molecular tests that guide treatment decisions across various medical specialties [8][9]

Core Viewpoint - Myriad Genetics, Inc. will hold its third quarter 2025 earnings conference call on November 3, 2025, at 4:30 pm ET, with earnings released after market close on the same day [1]. Company Overview - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, focusing on advancing health and well-being through molecular tests that assess disease risk and guide treatment decisions [3]. Conference Call Details - The conference call will provide a financial overview and business update regarding the company's performance for the third quarter of 2025 [1]. - A live webcast of the conference call will be available on Myriad's Investor Relations website, and an archived version will be accessible after the call [2].

Core Insights - Myriad Genetics has added two genes, F8 and FXN, to its Foresight Carrier Screen Universal Plus Panel, enhancing its compliance with the American College of Medical Genetics and Genomics recommendations [1][4]. Gene-Specific Information - Variants in the F8 gene are associated with hemophilia A, a hereditary bleeding disorder that can lead to prolonged bleeding [2]. - The FXN gene is linked to Friedreich's ataxia, a rare neurodegenerative disease that causes motor weakness and sensory loss [3]. Product Features and Impact - The Foresight Carrier Screen is designed to provide vital genetic insights for informed family planning, with a detection rate of one in 22 couples for serious inherited conditions [6]. - The Foresight Carrier Screen has been validated through over 20 peer-reviewed publications and is the only expanded carrier screening test with published analytical validation in the US [5]. Company Overview - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, focusing on improving patient care and reducing healthcare costs through molecular insights [7].

Core Insights - A recent survey by Myriad Genetics reveals a significant contradiction in women's attitudes towards cancer screenings, with 80% expressing fear of screenings, yet 75% indicating that genetic testing would provide reassurance if facing health concerns [2][3] - The survey highlights a critical gap in awareness regarding advanced screening tools that could empower women, especially those at increased risk for hereditary cancers [2] Group 1: Survey Findings - More than half of women at high risk for hereditary cancer feel "empowered" by advanced screening options like genetic testing [1] - Approximately 40% of women surveyed were unaware of the existence of genetic testing tools to assess personal cancer risk [3] - Only 14% of respondents have undergone genetic testing, despite over 25% of women in an OB/GYN setting meeting criteria for hereditary cancer testing [3] Group 2: Importance of Family Health History - Over 50% of respondents believe knowing their parents' health history is very important, but only about 30% reported knowing it "very well" [4] - About 48% of respondents would encourage their younger selves to discuss health history more frequently with their parents [4] Group 3: Genetic Testing and Risk Management - The MyRisk Hereditary Cancer Test with RiskScore calculates a woman's five-year and lifetime risk of breast cancer, providing options for increased screening frequency if high risk is identified [6] - Understanding familial factors, such as multiple cancers in the family and the age of diagnosis, is crucial for determining the need for hereditary cancer testing [5]

Core Insights - Myriad Genetics and SOPHiA GENETICS have announced a strategic collaboration to develop a global liquid biopsy companion diagnostic test for pharmaceutical companies [1] Company Overview - Myriad Genetics is recognized as a leader in molecular diagnostic testing and precision medicine [1] - SOPHiA GENETICS is an AI technology company focused on transforming precision medicine [1] Collaboration Details - The collaboration aims to innovate and provide pharmaceutical companies with advanced diagnostic solutions [1]

Core Insights - Myriad Genetics and SOPHiA GENETICS have announced a strategic collaboration to develop a global liquid biopsy companion diagnostic test for pharmaceutical companies, leveraging Myriad's laboratory capabilities and SOPHiA's extensive network [1][2][3] Company Overview - Myriad Genetics is a leader in molecular diagnostic testing and precision medicine, focusing on advancing health and well-being through molecular tests that guide treatment decisions [9] - SOPHiA GENETICS is a cloud-native healthcare technology company that utilizes AI to enhance access to data-driven medicine, particularly in oncology and rare disorders [5] Collaboration Details - The partnership will initially focus on the MSK-ACCESS® liquid biopsy application, which detects genomic alterations from a single blood draw using advanced algorithms [2] - Myriad will handle regulatory submissions in the U.S., while SOPHiA will manage submissions outside the U.S., aiming to provide access to key regulated markets globally [3] Industry Impact - This collaboration is seen as a pivotal moment for the industry, combining the strengths of a specialty lab and a global testing network to expand access to innovative oncology testing [4] - The hybrid model in companion diagnostics is expected to enhance service to both clinical and pharmaceutical partners, accelerating the adoption of liquid biopsy solutions [4]

Core Insights - Myriad Genetics, Inc. (MYGN) is focusing on expanding its companion diagnostics and driving market growth through new clinical guidelines and offerings in its Oncology business, although macro pressures and competition pose significant concerns [1][10] Financial Performance - Over the past year, MYGN shares have declined by 74.5%, while the industry has seen a 13.5% decline, and the S&P 500 has gained 18.7% [2] - The company has a market capitalization of $673.6 million and a flat earnings yield that is better than the industry's -21.8% yield [2] - MYGN's earnings have surpassed estimates in three of the last four quarters, with an average surprise of 210% [2] Growth Strategies - The growth strategy for MYGN's Oncology business includes expanding companion diagnostics and introducing new offerings, such as the Precise MRD test for early cancer recurrence detection [3][10] - A study published in The Lancet Oncology demonstrated the effectiveness of the Precise MRD test in patients with oligometastatic clear-cell renal cell carcinoma [4] - The updated NCCN guidelines now include MYGN's Prolaris test for various risk levels at the time of initial biopsy [5] Product Development - MYGN is investing in innovative testing products, including the FirstGene Multiple Prenatal Screen, which is expected to expand the prenatal market by 2026 [6] - The company launched the Prequel Prenatal Screen for genetic insights as early as eight weeks into pregnancy [7] - The Precise Tumor test, which analyzes over 500 cancer-related genes, has also been introduced [8] Challenges - MYGN faces macroeconomic pressures, including inflation impacting labor costs and laboratory supply expenses, which could affect profitability [11] - Increasing competition from new players and advancements in technology may lead to price competition, potentially impacting MYGN's margins [12][13] Revenue Estimates - The Zacks Consensus Estimate for MYGN's 2025 revenues is projected at $821.7 million, indicating a 1.9% decline from the previous year [14]