Myriad Genetics Inc (MYGN) Q4 2025 Earnings Call Highlights: Surpassing Revenue Expectations …

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Tue, February 24, 2026 at 2:02 PM GMT+9 4 min read

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**Fourth Quarter Revenue:** $210 million, above the high end of the pre-announced range.

**Full Year 2025 Revenue:** $824.5 million.

**Fourth Quarter Test Volume:** 382,000 test results delivered.

**myRisk Oncology Volume Growth:** 14% year-over-year.

**myRisk Unaffected Market Volume Growth:** 11% year-over-year.

**Prolaris Volume Growth:** 12% year-over-year.

**GeneSight Volume Growth:** 9% year-over-year.

**Fourth Quarter Adjusted Gross Margin:** 70%.

**Fourth Quarter Adjusted EBITDA:** $14.3 million.

**Fourth Quarter Adjusted EPS:** $0.04.

**Fourth Quarter Oncology Revenue:** $84.7 million, 2% growth over the prior year.

**Fourth Quarter Women's Health Revenue:** $88.5 million, 2% growth over the prior year.

**GeneSight Fourth Quarter Revenue:** $36.6 million.

**2026 Revenue Guidance:** $860 million to $880 million.

**2026 Adjusted Gross Margin Guidance:** 68% to 69%.

**2026 Adjusted EBITDA Guidance:** $37 million to $49 million.

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Release Date: February 23, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Myriad Genetics Inc (NASDAQ:MYGN) reported fourth quarter revenue of $210 million, exceeding the high end of the pre-announced range.

The company achieved strong test volume growth, with myRisk in oncology growing 14% and in the unaffected market growing 11% year-over-year.

GeneSight volume grew 9% year-over-year, showing continued acceleration from the first half of 2025.

The company reported a strong adjusted gross margin of 70% and healthy adjusted EBITDA of $14.3 million.

Myriad Genetics Inc (NASDAQ:MYGN) is on track to launch several new products in 2026, including AI-enhanced Prolaris and the FirstGene prenatal screen, which are expected to drive future growth.

Negative Points

The company faced a headwind from UnitedHealthcare's decision on GeneSight, impacting average revenue per test.

Fourth quarter Prolaris volume declined year-over-year due to Q2 order management disruptions.

Prenatal volume growth faced challenges, with a modest pullback in the fourth quarter and expected year-over-year decline in the first quarter of 2026.

The company anticipates a modest headwind in average selling price (ASP) across the portfolio in 2026.

There is no expected revenue contribution from MRD tests in the 2026 revenue guidance, as coverage is anticipated in 2027.

Q & A Highlights

Q: Given the momentum or recovery focus for the full year, what gives you confidence in maintaining a high single-digit long-term growth rate, and how should we think about 2027? A: Sam Raha, President and CEO, explained that the confidence for 2026 growth is based on several factors, including new product launches like the expanded myRisk panel and improvements in execution. For 2027 and beyond, the company is optimistic due to multiple product launches, such as Precise MRD for breast cancer, AI-enhanced Prolaris for prostate cancer, and FirstGene, which are expected to drive sustained profitable growth.

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Q: How do you plan to manage the MRD launch given the competitive market and lack of reimbursement? A: Sam Raha stated that the MRD launch will begin with an alpha phase for select customers to gather feedback on user experience and operational efficiency. The company plans to submit for MolDX in early H2 for breast cancer, with renal and colorectal cancer submissions later in 2026. The volume will be carefully managed until reimbursement is secured.

Q: What are the risks and potential accelerators in the MRD launch roadmap? A: Sam Raha highlighted that the main risk is the timing of MolDX approval, which is out of their control. However, the company is confident in their data preparation and submission process, with multiple active studies supporting their MRD tests. The timing of MolDX approval will influence the pace of the launch.

Q: Can you provide more details on the scaling of sales and commercial channels for Precise MRD? A: Brian Donnelly, Chief Commercial Officer, mentioned that the company is focused on ensuring the right level of reach and frequency to priority targets. They are hiring and training sales personnel with the necessary expertise in molecular diagnostics to prepare for the launch. The company is investing significantly to augment their sales team.

Q: What are the expectations for hereditary cancer volume growth in 2026? A: Benjamin Wheeler, CFO, stated that they expect high single-digit growth for the hereditary cancer portfolio, driven by both affected and unaffected markets. The company is optimistic about maintaining this momentum throughout 2026.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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