Myriad Genetics disclosed its preliminary fourth‑quarter and full‑year 2025 financials on January 12, 2026, outlining revenue of $207 million to $209 million for the quarter and $822 million to $824 million for the year. The figures represent a modest decline from the same periods in 2024—Q4 2024 revenue was $209 million to $211 million and full‑year 2024 revenue was $836 million to $838 million—reflecting a slight drop in average revenue per test despite a 3 % rise in test volumes. Management highlighted that pricing pressure from payer negotiations and the loss of UnitedHealthcare coverage for its GeneSight pharmacogenetic panel contributed to the revenue dip, while new test launches in oncology helped offset the decline.
Myriad’s segment data show oncology revenue grew 5 % year‑over‑year, driven by the launch of a new liquid‑biopsy companion diagnostic in partnership with SOPHiA GENETICS. Women’s health revenue fell 3 % after UnitedHealthcare discontinued coverage for a multi‑gene panel, whereas mental‑health testing revenue increased 8 % thanks to a new AI‑driven risk‑assessment platform. The mix shift toward higher‑margin oncology and mental‑health services helped keep gross margin within the 68 %–69 % range projected for 2026.
During the briefing, CEO and CFO emphasized the company’s “Cancer Care Continuum” strategy, noting that the new AI‑enabled breast‑health platform and the recent partnership with MagView for prostate‑cancer risk assessment are expected to accelerate revenue growth. They also highlighted ongoing investments in commercial capabilities and the expansion of prenatal and mental‑health testing portfolios, underscoring a focus on high‑return verticals.
The 2026 guidance calls for revenue of $860 million to $880 million—an approximate 6 % increase over the midpoint of the 2025 preliminary outlook—and adjusted EBITDA of $37 million to $49 million, a 43 % rise from the 2025 guidance midpoint. The projected margin improvement signals that cost discipline and a higher mix of high‑margin tests will offset the pricing headwinds seen in 2025, giving management confidence in sustaining profitability as the company scales its AI and genomic testing platforms.
Headwinds remain, notably the UnitedHealthcare coverage change that removed $10 million of revenue in Q3 2024 and the broader pricing pressure in the oncology segment. However, the company’s strategic collaborations and product innovations are positioned to mitigate these risks, and the guidance reflects a belief that the mix shift and operational efficiencies will translate into stronger earnings in 2026.
The preliminary figures set the stage for the audited results that will be released during Myriad’s February 2026 earnings call. Investors will look to the final numbers to confirm the company’s ability to maintain revenue growth, improve margins, and execute on its strategic initiatives.
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