Myriad Genetics, Inc. Investigation
Company: Myriad Genetics, Inc.
Ticker: (NASDAQ) MYGN
Join the Myriad Genetics, Inc. Investigation
Investigation Details
Myriad Genetics shares fell after the Company reported Q2 2026 revenue of approximately $190.7 million -- down roughly 11% year over year and 7% to 8% below Wall Street consensus of about $206-208 million -- and simultaneously cut full-year 2026 revenue guidance to $770-$790 million from approximately $860-$880 million.
Alongside the revenue cut, the Company lowered gross margin expectations and suspended its adjusted EBITDA guidance entirely. The previously issued adjusted EBITDA range was $37 million to $49 million. Management attributed the shortfall to reimbursement pressure, collections issues, lower average revenue per test, and weaker prenatal performance.
The timing is central to the investigation. On May 5, 2026, Myriad Genetics reiterated its full-year 2026 revenue guidance range of $860 million to $880 million. That range was reduced by approximately $90 million at the midpoint roughly three months later. The Company's Q1 2026 Form 10-Q, filed May 6, 2026, reported trade accounts receivable of $123.8 million as of March 31, 2026, compared with $115.3 million as of December 31, 2025, and net cash used in operating activities of $15.7 million.