Myriad Genetics Reports Mixed Q1 2025 Results

Myriad Genetics ( (MYGN) ) has released its Q1 earnings. Here is a breakdown of the information Myriad Genetics presented to its investors.

Myriad Genetics, Inc. is a prominent player in the molecular diagnostic testing and precision medicine industry, specializing in developing tests that assess disease risk and guide treatment decisions. In its first quarter of 2025, Myriad Genetics reported a revenue of $196 million, marking a 3% decline year-over-year, although excluding certain headwinds, revenue saw a 5% increase. The company faced a challenging quarter with mixed performance across its product lines, notably an 11% growth in prenatal revenue and a 20% decline in pharmacogenomics revenue due to reduced coverage by UnitedHealthcare.

Key financial metrics for the quarter included a gross margin of 69%, a slight improvement from the previous year, and a GAAP net loss of $0.1 million. The company also reported an adjusted EPS of $(0.03). Test volumes increased by 1% year-over-year, with notable growth in hereditary cancer and prenatal testing volumes. However, the company experienced a decrease in tumor profiling and pharmacogenomics revenues due to strategic changes and coverage adjustments.

Myriad Genetics has updated its financial guidance for 2025, lowering its revenue expectations to a range of $807 to $823 million and adjusting its EPS forecast to between $(0.02) and $0.02. The company is taking steps to reduce expenditures while prioritizing investments in new product development and revenue growth initiatives. Despite the current challenges, Myriad Genetics is focused on enhancing its strategic execution and organizational capabilities under its new leadership team.

Looking ahead, Myriad Genetics aims to unlock its potential by implementing a compelling strategy and improving execution. The company is also planning to launch its first AI-driven prostate cancer test by the end of 2025, reflecting its commitment to innovation and growth in the precision medicine sector.