AI Earnings Predictions for Myriad Genetics Inc. (MYGN)

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EX-99.1

2 ex991mygn-xearningsrelease.htm

EX-99.1

Document

Exhibit 99.1

Myriad Genetics Reports First Quarter 2026 Financial Results;

Reiterates 2026 Financial Guidance Reflecting Ongoing Progress in the Cancer Care Continuum Business

Highlights

•First quarter 2026 revenue of $200.4 million grew 2% year-over-year, reflecting stable test volume and 2% year-over-year growth in average revenue per test.

•First quarter 2026 test volume reflects 13% and 7% test volume growth year-over-year in Cancer Care Continuum and Mental Health, respectively, offset by a 12% decline year-over-year in Prenatal Health test volume.

•Launched Precise Molecular Residual Disease (MRD), Myriad Genetics' ultrasensitive assay, representing progress toward earlier insight, more informed decisions, and better outcomes for cancer patients.

•Received FDA approval of the MyChoice CDx test as the companion diagnostic for Zejula®, for patients with advanced ovarian cancer.

•First quarter 2026 gross margin was 68.7%, up 20.0 basis points from the first quarter 2025.

•First quarter 2026 GAAP net loss of $34.1 million, or $0.36 per share, while adjusted loss per share was $0.09 per share and adjusted EBITDA was $(4.5) million.

SALT LAKE CITY, May 5, 2026 – Myriad Genetics, Inc. (NASDAQ: MYGN), a leader in molecular diagnostic testing and precision medicine, today announced financial results for its first quarter ended March 31, 2026, and reaffirmed its financial guidance for the full-year 2026.

"We are seeing strong performance across a number of key areas, including the Cancer Care Continuum as we begin to realize a return on our focused strategy. We have implemented a dedicated hereditary cancer sales force and other key programs designed to support the expected continued growth in germline testing. And with decisive steps taken to address our Prenatal Health business, we expect improved performance in the remainder of 2026,” said Sam Raha, President and CEO, Myriad Genetics. “Our limited launch of Precise MRD for breast cancer patients has received positive early feedback and we remain on track with our other planned launches in 2026, as part of our milestone-rich year. We are confident these tests will be important drivers of our growth in 2027 and beyond."

1

Financial and Operational Highlights

•Test volumes of 385,000 in the first quarter of 2026 were stable year-over-year.

•The following table summarizes year-over-year testing volume changes in the company's core product categories:

Three Months Ended March 31,

(in thousands)20262025% Change

Product volumes:

Cancer Care Continuum96 85 13 %

Prenatal Health153 173 (12)%

Mental Health136 127 7 %

Total385 385 — %

•The following table summarizes year-over-year revenue changes in the company's core product categories:

Three Months Ended March 31,

(in millions) 20262025% Change

Product revenues:

Cancer Care Continuum$120.2 $115.6 4 %

Prenatal Health41.9 49.3 (15)%

Mental Health38.3 31.0 24 %

Total$200.4 $195.9 2 %

Product Categories:

Cancer Care Continuum – MyRisk, BRACAnalysis CDx, MyChoice CDx, Prolaris, Precise Tumor, Precise MRD

Prenatal Health – Foresight, Prequel, FirstGene, SneakPeek

Mental Health – GeneSight

•Operating expenses in the first quarter of 2026 were $168.3 million, increasing $5.1 million year-over-year. Adjusted operating expenses in the first quarter of 2026 increased $7.9 million year-over-year to $148.5 million, partially reflecting the company's progress in its multi-year investment program in key strategic areas.

•Operating loss in the first quarter of 2026 was $30.7 million.

Cash Flow and Liquidity

First quarter 2026 cash flow used in operations was $15.7 million; adjusted operating cash outflow in the first quarter of 2026 was $13.4 million. Capital expenditures and capitalization of internal use software costs totaled $6.5 million in the first quarter 2026 resulting in adjusted free cash flow of $(19.9) million in the first quarter of 2026.

As of the end of the first quarter of 2026, the company had cash and cash equivalents of $124.4 million.

2

Business Performance and Highlights

Cancer Care Continuum

The Cancer Care Continuum business delivered revenue of $120.2 million in the first quarter of 2026.

•First quarter 2026 hereditary cancer testing revenue increased 5% year-over-year driven by a 14% year-over-year increase in volume.

•First quarter 2026 Prolaris testing revenue grew 3% year-over-year. The company continues to make progress on its first AI-enabled prostate cancer test, in partnership with PATHOMIQ, and expects to launch the test in the second quarter of 2026.

•In April 2026, the company shared new data at a number of annual clinical society meetings, including the American Association for Cancer Research (AACR) and the Society of Gynecologic Oncology (SGO) underscoring Myriad Genetics' commitment to the Cancer Care Continuum and highlighting its progress in precision oncology. For example, data from one

mygn-202602230000899923false00008999232026-02-232026-02-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  February 23, 2026

MYRIAD GENETICS, INC.

(Exact name of registrant as specified in its charter)

Delaware 0-26642 87-0494517 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

322 North 2200 West Salt Lake City, Utah 84116 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (801) 584-3600 Not applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value MYGN Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02    Results of Operations and Financial Condition. On February 23, 2026, Myriad Genetics, Inc. announced its financial results for the three months ended December 31, 2025.  The earnings release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference. Cautionary Note Regarding Forward-Looking Statements. Except for historical information contained in this Current Report on Form 8-K, including Exhibit 99.1, this Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking statements which involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements. Please refer to the cautionary note in Exhibit 99.1 to this Current Report on Form 8-K regarding these forward-looking statements.

ITEM 9.01    Financial Statements and Exhibits.

Exhibit Number Description

99.1 Earnings release dated February 23, 2026 for the three months ended December 31, 2025.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

The exhibit(s) may contain hypertext links to information on our website or other parties’ websites. The information on our website and other parties’ websites is not incorporated by reference into this Current Report on Form 8-K and does not constitute a part of this Current Report on Form 8-K. Limitation on Incorporation by Reference. In accordance with General Instruction B-2 of Form 8-K, the information set forth in Item 2.02 and in Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

MYRIAD GENETICS, INC.

Date: February 23, 2026/s/ Benjamin R. Wheeler Benjamin R. Wheeler Chief Financial Officer