Quarterly ResultMay 6, 2026, 06:14 AM
Myriad Genetics Q1 Net Loss $(34.1)M; Goodwill Impairment $4.5M
AI Summary
Myriad Genetics reported a significant increase in net loss for the first quarter of 2026, reaching $(34.1) million, compared to a net loss of $(0.1) million in the prior year period. This was partly due to a $4.5 million goodwill impairment charge. Despite a slight increase in total revenue to $200.4 million, the company's profitability declined, and its cash position decreased. The company also disclosed ongoing legal proceedings and plans for new equity incentive plans subject to stockholder approval.
Key Highlights
- Net loss widened to $(34.1)M for Q1 2026 from $(0.1)M in Q1 2025.
- Total revenue increased to $200.4M in Q1 2026 from $195.9M in Q1 2025.
- Recognized a goodwill impairment charge of $4.5M related to the Women's Health reporting unit.
- Basic and diluted net loss per share was $(0.36) for Q1 2026, compared to $(0.00) for Q1 2025.
- Cash and cash equivalents decreased to $124.4M as of March 31, 2026, from $149.6M at December 31, 2025.
- Cancer Care Continuum revenue grew to $120.2M in Q1 2026 from $115.6M in Q1 2025.
- Prenatal Health revenue decreased to $41.9M in Q1 2026 from $49.3M in Q1 2025.
- Mental Health revenue increased to $38.3M in Q1 2026 from $31.0M in Q1 2025.