Myriad Genetics Inc 8-K, filed Nov 4, 2026

Myriad Genetics Inc (MYGN)

8-K 2026-11-04 For: 2026-11-04

Added on November 04, 2026

About this 8-K

Myriad Genetics Inc filed this 8-K on November 4, 2026.

Myriad Genetics entered a definitive agreement to sell the Prenatal Health business to Labcorp for $210 million in cash, plus related inventory value. Third quarter 2026 revenue was $202.7 million, and the company raised the midpoint of full-year 2026 revenue guidance. AI summary

Items reported

Item 2.02: Financial results
Item 9.01: Financial statements and exhibits

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☐			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))


Exhibit Number						Description

99.1						Earnings release dated November 4 , 2026 for the three months ended September 30, 2026.

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


	MYRIAD GENETICS, INC.

Date: November 4, 2026		/s/ Benjamin R. Wheeler
		Benjamin R. Wheeler
		Chief Financial Officer


	Three months ended September 30,				Nine months ended September 30,
(in thousands)	2026	2025	% Change		2026	2025	% Change
Product volumes:
Cancer Care Continuum	98	94	4	%	289	269	7	%
Mental Health	141	137	3	%	417	399	5	%
Cancer Care Continuum and Mental Health Volume*	239	231	3	%	706	668	6	%
Prenatal Health	138	155	(11)	%	435	487	(11)	%
Total	377	386	(2)	%	1,141	1,155	(1)	%


	Three months ended September 30,						Nine months ended September 30,
(in millions)	2026		2025		% Change		2026		2025		% Change
Product revenues:
Cancer Care Continuum	$	123.9	$	122.5	1	%	$	358.2	$	365.8	(2)	%
Mental Health	39.5		38.7		2	%	114.6		107.5		7	%
Cancer Care Continuum and Mental Health Revenue*	163.4		161.2		1	%	472.8		473.3		—	%
Prenatal Health	39.3		44.5		(12)	%	121.0		141.4		(14)	%
Total	$	202.7	$	205.7	(1)	%	$	593.8	$	614.7	(3)	%


*			On October 19, 2026, the Company entered into a definitive agreement to sell certain assets and liabilities of its Prenatal Health business. A Cancer Care Continuum and Mental Health volume and revenue subtotal is presented to provide additional information regarding the revenue of the businesses expected to remain with the Company following completion of the sale, which is expected to close by early 2027.


	September 30, 2026		December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	107.1	$	149.6

Trade accounts receivable	105.5		115.3
Inventory	28.6		30.6
Prepaid taxes	1.5		12.0
Prepaid expenses and other current assets	29.2		25.1
Total current assets	271.9		332.6
Operating lease right-of-use assets	48.9		49.4
Property, plant and equipment, net	104.7		114.0
Intangible assets, net	131.8		153.4
Goodwill	47.1		51.6
Other assets	4.8		5.6
Total assets	$	609.2	$	706.6
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	27.6	$	30.0
Accrued liabilities	102.2		96.9
Current maturities of operating lease liabilities	7.8		6.9

Total current liabilities	137.6		133.8

Long-term debt	121.1		119.9
Noncurrent operating lease liabilities	80.5		83.0
Other long-term liabilities	1.0		1.9
Total liabilities	340.2		338.6
Commitments and contingencies
Stockholders’ equity:
Common stock, 95.7 and 93.5 shares outstanding at September 30, 2026 and December 31, 2025, respectively	1.0		0.9
Additional paid-in capital	1,511.2		1,489.0
Accumulated other comprehensive income	0.7		0.8
Accumulated deficit	(1,243.9)		(1,122.7)
Total stockholders' equity	269.0		368.0
Total liabilities and stockholders’ equity	$	609.2	$	706.6


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Net cash used in operating activities	$	(6.5)	$	21.1	$	(30.5)	$	(8.8)
Net cash used in investing activities	(2.1)		(6.2)		(11.8)		(21.4)
Net cash provided by (used in) financing activities	(0.3)		56.2		(1.1)		72.4
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash	(0.1)		—		(0.1)		0.7
Net decrease in cash, cash equivalents, and restricted cash	(9.0)		71.1		(43.5)		42.9
Cash, cash equivalents, and restricted cash at beginning of the period	116.8		83.7		151.3		111.9
Cash, cash equivalents, and restricted cash at end of the period	$	107.8	$	154.8	$	107.8	$	154.8


Investor Contact
Matt Scalo
(801) 584-3532
matt.scalo@myriad.com

Media Contact
Kate Schraml
(224) 875-4493
PR@myriad.com


	Three months ended September 30,				Nine months ended September 30,
	2026		2025		2026		2025
Revenue	$	202.7	$	205.7	$	593.8	$	614.7
Cost of revenue	65.0		61.9		191.5		184.9
Gross profit	137.7		143.8		402.3		429.8

Operating expenses:
Research and development expense	26.5		28.2		78.6		81.3
Sales and marketing expense	83.9		71.0		240.6		212.1
General and administrative expense	67.2		67.9		187.2		201.2

Goodwill and long-lived asset impairment charges	—		—		5.4		316.7
Total operating expenses	177.6		167.1		511.8		811.3
Operating loss	(39.9)		(23.3)		(109.5)		(381.5)
Other income (expense):
Interest income	0.6		0.5		1.7		1.0
Interest expense	(4.1)		(3.8)		(12.3)		(6.1)
Other	(0.2)		0.4		(0.2)		0.4
Total other expense	(3.7)		(2.9)		(10.8)		(4.7)
Loss before income tax	(43.6)		(26.2)		(120.3)		(386.2)
Income tax expense (benefit)	0.3		1.2		0.9		(28.2)


Net loss	$	(43.9)	$	(27.4)	$	(121.2)	$	(358.0)
Net loss per share:
Basic and diluted	$	(0.46)	$	(0.29)	$	(1.28)	$	(3.88)

Weighted average shares outstanding:
Basic and diluted	95.7		93.1		94.7		92.3


		Three months ended September 30,						Nine months ended September 30,
		2026			2025			2026			2025
Adjusted Gross Margin
Gross Profit		$	137.7		$	143.8		$	402.3		$	429.8
Acquisition - amortization of intangible assets(1)		—			—			0.1			0.6
Equity compensation(2)		0.2			0.3			0.9			0.9
Strategic realignment(3)		0.4			—			0.4			—
Other adjustments(4)		—			—			—			0.3
Adjusted Gross Profit		$	138.3		$	144.1		$	403.7		$	431.6
Adjusted Gross Margin		68.2		%	70.1		%	68.0		%	70.2		%

(1)	Represents recurring amortization charges resulting from the acquisition of intangible assets.
(2)	Consists of the non-cash equity-based compensation provided to Myriad Genetics employees.
(3)	Costs related to strategic realignment of the company including severance and consulting fees.
(4)	Other one-time non-recurring adjustments.

		Three months ended September 30,						Nine months ended September 30,
		2026			2025			2026			2025
Adjusted Operating Expenses
Operating Expenses		$	177.6		$	167.1		$	511.8		$	811.3
Acquisition - amortization of intangible assets(1)		(6.5)			(6.5)			(19.3)			(23.4)
Goodwill and long-lived asset impairment(2)		—			—			(5.4)			(316.7)
Equity compensation(3)		(9.0)			(11.9)			(22.0)			(31.5)
Real estate optimization(4)		—			—			—			(5.2)
Strategic realignment(5)		(12.2)			(8.3)			(16.2)			(10.1)
Other adjustments(6)		—			(0.4)			—			—
Adjusted Operating Expenses		$	149.9		$	140.0		$	448.9		$	424.4

(1)	Represents recurring amortization charges resulting from the acquisition of intangible assets.
(2)	Expense related to goodwill and long-lived asset impairment. For the nine months ended September 30, 2026, consists of $5.4 million of impairment expense associated with our Women's Health reporting unit and certain intangible assets. For the nine months ended September 30, 2025, consists of $316.7 million of impairment expense associated with our Mental Health and Women's Health reporting units and asset groups.
(3)	Consists of the non-cash equity-based compensation provided to Myriad Genetics employees and directors.
(4)	Costs related to real estate initiatives. For the nine months ended September 30, 2025, consists of additional rent as a result of the build-out of our new laboratories in Salt Lake City, Utah and South San Francisco, California, while maintaining our then existing laboratories in those locations and testing and set-up costs for equipment in our new facilities.
(5)	Costs related to strategic realignment of the company including severance and consulting fees.
(6)	Other one-time non-recurring adjustments.


		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
Adjusted Net Income (Loss)(1)
Net Loss		$	(43.9)	$	(27.4)	$	(121.2)	$	(358.0)
Acquisition - amortization of intangible assets(2)		6.5		6.5		19.4		24.0
Goodwill and long-lived asset impairment(3)		—		—		5.4		316.7
Equity compensation(4)		9.2		12.2		22.9		32.4
Real estate optimization(5)		—		—		—		5.2
Strategic realignment(6)		12.6		8.3		16.6		10.1
Other adjustments(7)		—		0.4		—		0.4
Uncertain tax benefit(8)		—		—		—		(29.0)
Tax adjustments(9)		4.9		0.2		14.6		0.1
Adjusted Net Income (Loss)		$	(10.7)	$	0.2	$	(42.3)	$	1.9

Weighted average shares outstanding:
Diluted		95.7		93.8		94.7		93.2

Adjusted Income (Loss) Per Share
Diluted		$	(0.11)	$	—	$	(0.45)	$	0.02


(1)	To determine Adjusted Income (Loss) Per Share.
(2)	Represents recurring amortization charges resulting from the acquisition of intangible assets.
(3)	Expense related to goodwill and long-lived asset impairment. For the nine months ended September 30, 2026, consists of $5.4 million of impairment expense associated with our Women's Health reporting unit and certain intangible assets. For the nine months ended September 30, 2025, consists of $316.7 million of impairment expense associated with our Mental Health and Women's Health reporting units and asset groups.
(4)	Consists of the non-cash equity-based compensation provided to Myriad Genetics employees and directors.
(5)	Costs related to real estate initiatives. For the nine months ended September 30, 2025, consists of additional rent as a result of the build-out of our new laboratories in Salt Lake City, Utah and South San Francisco, California, while maintaining our then existing laboratories in those locations and testing and set-up costs for equipment in our new facilities.
(6)	Costs related to strategic realignment of the company including severance and consulting fees.
(7)	Other one-time non-recurring adjustments.
(8)	Consists of the release of unrecognized tax benefits and the recognition of valuation allowances for the nine months ended September 30, 2025. The unrecognized tax benefits released were primarily related to tax years under Joint Committee on Taxation review, which upon conclusion of the review were remeasured or released.
(9)	Tax expense or benefit due to non-GAAP adjustments, differences between stock compensation recorded for book purposes as compared to the allowable tax deductions, and valuation allowance recognized against federal and state deferred tax assets in the United States. As of September 30, 2026, a valuation allowance of $129.1 million was not recognized for non-GAAP purposes given our historical and forecasted positive earnings performance. As of September 30, 2025, a valuation allowance of $104.8 million was not recognized for non-GAAP purposes given the company's historical and forecasted positive earnings performance.


		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
Adjusted EBITDA
Net Loss		$	(43.9)	$	(27.4)	$	(121.2)	$	(358.0)
Acquisition - amortization of intangible assets(1)		6.5		6.5		19.4		24.0
Depreciation expense(2)		4.9		4.8		14.4		14.8
Goodwill and long-lived asset impairment(3)		—		—		5.4		316.7
Equity compensation(4)		9.2		12.2		22.9		32.4
Real estate optimization(5)		—		—		—		5.2
Strategic realignment(6)		12.6		8.3		16.6		10.1
Interest expense, net of interest income(7)		3.5		3.3		10.6		5.1
Other adjustments(8)		1.6		1.4		4.3		2.5
Uncertain tax benefits(9)		—		—		—		(29.0)
Income tax expense(10)		0.3		1.2		0.9		0.8
Adjusted EBITDA		$	(5.3)	$	10.3	$	(26.7)	$	24.6

(1)	Represents recurring amortization charges resulting from the acquisition of intangible assets.
(2)	Consists of depreciation expense recognized during the period.
(3)	Expense related to goodwill and long-lived asset impairment. For the nine months ended September 30, 2026, consists of $5.4 million of impairment expense associated with our Women's Health reporting unit and certain intangible assets. For the nine months ended September 30, 2025, consists of $316.7 million of impairment expense associated with our Mental Health and Women's Health reporting units and asset groups.
(4)	Consists of the non-cash equity-based compensation provided to Myriad Genetics employees and directors.
(5)	Costs related to real estate initiatives. For the nine months ended September 30, 2025, consists of additional rent as a result of the build-out of our new laboratories in Salt Lake City, Utah and South San Francisco, California, while maintaining our then existing laboratories in those locations and testing and set-up costs for equipment in our new facilities.
(6)	Costs related to strategic realignment of the company including severance and consulting fees.
(7)	Derived from interest expense and interest income from the Condensed Consolidated Statements of Operations.
(8)	Other one-time non-recurring expenses. For purposes of adjusted EBITDA, this includes Other adjustments described in the Adjusted Net Income (Loss) table above as well as the amounts reported as Other income (expense) in the Condensed Consolidated Statement of Operations.
(9)	Consists of the release of unrecognized tax benefits and the recognition of valuation allowances for the nine months ended September 30, 2025. The unrecognized tax benefits released were primarily related to tax years under Joint Committee on Taxation review, which upon conclusion of the review were remeasured or released.
(10)	Derived from Income tax expense (benefit) from the Condensed Consolidated Statement of Operations, net of the adjustment for unrecognized tax benefits described in Note 9 above.