Myriad Genetics, Inc. (MYGN) SEC Filings & Earnings Calls

Regulatory clearance required; deal may not close as expected.

“The deal is subject to regulatory clearance and customary closing conditions” · word for word

Loss of senior commercial leadership could impact sales execution.

“Departure of Chief Commercial Officer; severance of $1.32M.”

Reimbursement pressure

“Cancer Care Continuum revenue per test decreased 15% due to declines in reimbursement; Prenatal Health revenue per test decreased 8% due to declines in reimbursement.”

Cash burn risk

“Cash and cash equivalents decreased $34.4M from Dec 2025 to June 2026; operating cash flow negative $24M in H1 2026.”

High leverage and debt cost

“Interest rate on term loan is 10.1% as of June 30, 2026; interest expense increased due to term loan secured in July 2025.”

Revenue decline of 11% YoY driven by 9% decrease in average revenue per test and volume challenges in Prenatal Health.

“Second quarter 2026 revenue of $190.7 million decreased 11% year-over-year, reflecting a 1% decline in volume and a 9% decrease in average revenue per test year-over-year.” · word for word

Gross margin pressure down 460bps YoY to 66.6%.

“Second quarter 2026 gross margin was 66.6%, down 460 basis points from the second quarter 2025.” · word for word

Negative free cash flow of $(10.9) million in Q2 2026.

“Adjusted free cash flow of $(10.9) million in the second quarter of 2026.” · word for word

Guidance revised down due to lower Prenatal Health volumes and conservative ARPU assumptions.

“Revised 2026 financial guidance to reflect second quarter results and updated assumptions for business trends in the second half of 2026.” · word for word

Goodwill impairment risk

“During the first quarter of 2026, we concluded that an impairment triggering event had occurred due to a sustained decline in our share price and market capitalization.” · word for word

Debt service cost

“Interest expense increased $3.0 million due to $125 million term loan secured in July 2025.”

Reimbursement pressure

“Third-party payors... are increasingly attempting to contain health-care costs by limiting or denying coverage for certain tests and reducing reimbursement rates.”

Prenatal Health revenue declined 15% YoY due to volume decline and implementation disruption; expected to improve but remains a headwind.

“Prenatal Health revenue $41.9M (-15% YoY); volume -12%.”

GAAP net loss of $34.1M and negative adjusted EBITDA of $4.5M indicate ongoing profitability challenges.

“GAAP net loss $34.1M; adjusted EBITDA $(4.5)M.”

Negative free cash flow of $19.9M in Q1; cash burn may require future financing if not improved.

“Adjusted free cash flow of $(19.9) million.” · word for word

UnitedHealthcare GeneSight Coverage Discontinuation

“UnitedHealthcare's discontinuation of coverage (commercial, individual exchange and certain managed Medicaid) of GeneSight” · word for word

Goodwill Impairment Risk

“$319.4 million of impairment expense primarily associated with our Mental Health and Women's Health reporting units and asset groups.” · word for word

Revenue Decline from Headwinds

“Revenue of $824.5 million, a decrease of 2% year-over-year. Excluding the impact of the aforementioned headwinds, full-year 2025 revenue grew 2% over full-year 2024.” · word for word

Executive Turnover

“CEO, CFO, COO, and CCO all changed during 2025, with former CEO and CFO departing.”

FDA regulatory compliance risk

“Our companion diagnostic tests are subject to ongoing regulatory compliance obligations and continued regulatory review and the failure to comply with such obligations could result in regulatory enforcement and/or penalties.” · word for word

Stock price volatility risk

“In the year ended December 31, 2025, our stock price ranged from $3.76 per share to $15.47 per share.” · word for word

Shareholder activism risk

“We may become subject to shareholder activism, including efforts to influence our corporate governance, business strategy, or financial decisions.” · word for word

Environmental/hazardous material liability risk

“Our business involves environmental risks that may result in liability for us.” · word for word

Reimbursement risk

“changes in the structure of healthcare payment systems and changes in governmental or private insurer reimbursement levels for our tests” · word for word

Revenue flat to declining; prenatal testing volume down 6% YoY; mental health revenue down 10% due to UNH coverage discontinuation.

“Prenatal volumes down 6%; mental health revenue down 10% due to UNH discontinuation.”

Dependence on new test launches for future growth; execution risk on Precise MRD, AI Prolaris, and FirstGene.

“2026 milestone year with three new test launches; growth expected in 2027+.”

Preliminary results subject to audit adjustment; prenatal testing volume decline indicates product mix headwind.

“preliminary and subject to the Company’s normal quarter and year-end accounting procedures and external audit... approximately 4% year-over-year decrease in prenatal health testing volume” · word for word

UnitedHealthcare coverage loss for GeneSight

“UnitedHealthcare updated its medical policies for pharmacogenetic testing to no longer provide coverage for certain multi-gene panel pharmacogenetic tests, including our GeneSight test, under its commercial, individual exchange, and certain managed Medicaid benefit plans, effective during 2025.” · word for word

Goodwill impairment risk

“Goodwill and long-lived asset impairment charges in the nine months ended September 30, 2025 included goodwill impairment charges of $234.7 million and intangible asset impairment charges of $82.0 million related to our Women's Health and Pharmacogenomics reporting units.” · word for word

High leverage and debt service costs

“The interest rate for borrowings under the Credit Agreement as of September 30, 2025 was 10.8%.” · word for word

Pharmacogenomics revenue down 19% YoY due to UNH coverage discontinuation.

“Pharmacogenomics $38.7 million... (19)% change”

Tumor profiling volume down 8% YoY due to EndoPredict divestiture.

“Tumor profiling decreased... due primarily to a decrease in testing volume for EndoPredict due to the sale of the company's international EndoPredict business.”