Myriad Genetics Reports Third Quarter 2025 Financial Results; Reiterates 2025 Financial Guidance Following Continued Solid Execution

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].