Myriad Genetics FY Conference Summary Company Overview - **Company**: Myriad Genetics (NasdaqGS:MYGN) - **Industry**: Precision medicine and diagnostic testing - **Key Leadership**: Sam Raha (President and CEO), Ben Wheeler (CFO) [1][2] Core Points and Arguments Company Mission and Market Position - Myriad Genetics has a noble purpose to advance health and well-being, being a leader in precision medicine for over 30 years [2] - The company served over 55,000 healthcare providers and delivered over 1.5 million test reports in 2025 [3] Strategic Focus - The company is at an inflection point, focusing on the cancer care continuum and expanding its product portfolio beyond hereditary cancer [3][5] - Emphasis on execution excellence, utilizing AI across operations, product development, and customer experience [4][5] Market Opportunities - The total market opportunity for Myriad is estimated at $40 billion, with many served markets growing in double digits and having less than 50% market penetration [6] - Hereditary cancer testing represents a $7 billion market, with Myriad's myRisk test being the gold standard [9][10] Product Development and Launches - Upcoming launches include disease-specific panels for hereditary cancer and an AI-enabled Prolaris test for prostate cancer [10][13] - The company plans to expand its offerings in minimal residual disease (MRD) testing, starting with breast cancer, which has a $7 billion total addressable market (TAM) [19] Financial Performance and Projections - Projected revenue for 2025 is between $822 million and $824 million, with a 6% growth expected for 2026, targeting $860 million to $880 million [28][31] - The company aims to maintain industry-leading gross margins of 68%-69% while reducing costs [31][32] Growth Catalysts - Key growth drivers include the performance of hereditary cancer products, timely launches of new products, and consistent execution of financial and operational goals [38][40] - The company is investing over $35 million to strengthen commercial capabilities related to the cancer care continuum [30][52] Additional Important Content Partnerships and Collaborations - Myriad is exploring strategic partnerships to enhance its market position and product offerings, particularly in the cancer care continuum [45] - Collaborations with Sophia Genetics and MSK are aimed at biomarker selection and companion diagnostic development [12][45] Challenges and Market Dynamics - The prenatal health segment faced a 4% decline in 2025 due to implementation challenges, but recovery efforts are underway [29][30] - Mental health remains a growing area, with the GeneSight test being a market leader, having provided results for over three million patients [26][27] Long-term Vision - Myriad Genetics aims for high-single-digit to low-double-digit revenue growth over the next five years, supported by a robust pipeline of new products and strategic initiatives [33][36] This summary encapsulates the key insights from the Myriad Genetics FY Conference, highlighting the company's strategic direction, market opportunities, financial outlook, and growth initiatives.

Financial Performance and Guidance - Preliminary Q4 2025 total revenue is expected to be between $207 million and $209 million, and full year 2025 revenue between $822 million and $824 million[51] - Total test volume growth for 2025 is approximately 1% year-over-year, with Hereditary Cancer showing 7% growth, Mental Health 6% growth, and Prenatal Health a (4)% decrease[51] - 2026 total revenue guidance is set at $860 million to $880 million, reflecting approximately 6% growth compared to the midpoint of the preliminary 2025 revenue range[53] - Adjusted gross margin for 2026 is projected to be between 68% and 69%[53] - Adjusted EBITDA for 2026 is expected to be between $37 million and $49 million, representing approximately 43% growth over the midpoint of the previous full year 2025 guidance range[53] - The company is targeting high single-digit to low double-digit percentage annual revenue growth in the long term[60] Strategic Focus and Market Expansion - The company is prioritizing the Cancer Care Continuum to drive accelerated growth and profitability[11, 60] - The company plans to leverage market-leading positions and new products to accelerate growth in markets such as Hereditary Cancer Testing (HCT), therapy selection, prostate cancer, and molecular residual disease (MRD)[13] - The total addressable market (TAM) for therapy selection, HRD (Homologous Recombination Deficiency) & CGP (Comprehensive Genomic Profiling) is estimated at $8 billion, with an estimated annual market growth of 14-17%[13] - The MRD market has a TAM of $21 billion with an estimated annual market growth of 15-20%[13] - The company is expanding its testing menu to serve more of the Cancer Care Continuum, including hereditary cancer screening, diagnosis & therapy selection, and molecular residual disease monitoring[15, 16]

Financial Projections - Myriad Genetics, Inc. expects fourth quarter total revenues to be between $207 million and $209 million [1] - For the full year 2025, total revenues are projected to be between $822 million and $824 million [1] - For the full year 2026, the company projects revenue in a range of $860 million to $880 million and adjusted EBITDA in a range of $37 million to $49 million [1] Earnings Call - The company plans to release its actual financial results for the fourth quarter during its earnings call scheduled for February 2026 [1]

Testing Volume Projections - Myriad Genetics, Inc. expects total test volumes in 2025 to be approximately 1.5 million, reflecting a 1% year-over-year increase[4] - The company anticipates a 7% year-over-year growth in hereditary cancer testing volume for 2025[4] - Mental health testing volume is projected to grow by approximately 6% year-over-year in 2025[4] - Prenatal health testing volume is expected to decrease by approximately 4% year-over-year in 2025[4] Financial Guidance - Myriad Genetics, Inc. introduced full year 2026 financial guidance alongside the preliminary revenue announcement[4]

Core Viewpoint - Myriad Genetics, Inc. has announced preliminary financial results for Q4 and full year 2025, along with financial guidance for 2026, indicating growth expectations in revenue and adjusted EBITDA [1][6]. Financial Results - The company anticipates total revenues for Q4 2025 to be between $207 million and $209 million [7]. - For the full year 2025, total revenues are expected to be between $822 million and $824 million [7]. - The preliminary results are subject to finalization and external audit, meaning they may change before the official earnings call in February 2026 [4]. 2026 Financial Guidance - Myriad Genetics projects 2026 revenue guidance to be between $860 million and $880 million, reflecting an approximate 6% increase compared to the mid-point of the preliminary 2025 revenue range [6]. - The adjusted gross margin for 2026 is expected to be between 68% and 69%, incorporating impacts from new product launches [6]. - Adjusted EBITDA for 2026 is projected to be between $37 million and $49 million, indicating an expected growth of approximately 43% over the mid-point of the previous full year 2025 guidance range [6].

Core Viewpoint - Myriad Genetics, Inc. will present at the 44th Annual J.P. Morgan Healthcare Conference, highlighting its leadership in molecular diagnostic testing and precision medicine [1] Company Overview - Myriad Genetics is a leading company in molecular diagnostic testing and precision medicine, focused on improving health and well-being [2] - The company develops molecular tests that assess disease risk and guide treatment decisions, aiming to enhance patient care and reduce healthcare costs [2]

Core Insights - Myriad Genetics, Inc. (MYGN) is positioned for growth due to a strong pipeline of product launches and a refreshed long-term strategy focused on the Cancer Care Continuum (CCC) market [2][6] - The company faces revenue challenges from the end of UnitedHealthcare's coverage for GeneSight and broader macroeconomic issues [2][11][12] Financial Performance - MYGN's shares have decreased by 53.7% over the past year, contrasting with a 19.1% growth in the industry and the S&P 500 [3] - The company's market capitalization stands at $604.3 million, with an earnings yield of 0.2%, outperforming the industry's -29.4% yield [3] Product Development - Myriad Genetics is actively launching new products, including the Prequel Prenatal Screen and the Foresight Carrier Screening test, which enhance its testing portfolio [4] - The upcoming launch of the expanded MyRisk with RiskScore panel is anticipated to drive growth in the $6 billion market [5] Strategic Focus - The company's renewed strategy emphasizes growth in the CCC market, aiming to increase volumes of the MyRisk hereditary cancer test and expand into high-growth segments like therapy selection and minimal residual disease (MRD) [6][9] - Partnerships, such as with SOPHiA GENETICS, are aimed at enhancing biomarker validation and development services [6] Solvency and Financial Health - Myriad Genetics reported cash and cash equivalents of $145.4 million with no current debt, indicating strong solvency [10] Revenue Challenges - The termination of GeneSight coverage by UnitedHealthcare is expected to negatively impact MYGN's revenues and profitability [11] - Macroeconomic factors, including inflation and rising costs from U.S. tariffs, are anticipated to pressure the company's bottom line [12] Revenue Estimates - The Zacks Consensus Estimate for MYGN's 2025 revenues is projected at $821.5 million, reflecting a 1.9% decline from the previous year [13]

Core Insights - Myriad Genetics will present new data on its Precise Molecular Residual Disease (MRD) Test and MyRisk Hereditary Cancer Test at the 2025 San Antonio Breast Cancer Symposium (SABCS) [1] - The company emphasizes the importance of ultrasensitive and quantitative ctDNA testing in improving clinical outcomes for breast cancer patients [2] MyRisk Hereditary Cancer Test - The MyRisk Hereditary Cancer Test has been expanded to include 63 genes associated with cancer risk, reflecting the company's commitment to evolving clinical needs [8] - This test aims to provide meaningful insights for patient care and supports guideline-driven treatment decisions [1][8] Precise Molecular Residual Disease (MRD) Test - The Precise MRD Test is described as an ultrasensitive, second-generation pan-tumor MRD test, particularly effective for low-tumor-shedding cancers like breast cancer [1] - The test utilizes whole genome sequencing to achieve high sensitivity and specificity at low tumor fractions [7] Data Presentations at SABCS - Myriad Genetics will present multiple studies related to breast cancer, including the dynamics of ctDNA during neoadjuvant therapy and the predictive capabilities of ctDNA-based MRD monitoring [3][4] - Presentations will cover various aspects of genetic testing, including germline testing, somatic testing, and polygenic risk assessment [2] Company Commitment - Myriad Genetics is dedicated to advancing health and well-being through molecular diagnostic testing and precision medicine [6] - The company aims to lower healthcare costs while improving patient care through its innovative testing solutions [6]

Core Viewpoint - Myriad Genetics reported break-even earnings for Q3 2025, outperforming the Zacks Consensus Estimate of a loss of 1 cent per share, but total revenues decreased by 3.6% year-over-year to $205.7 million, slightly exceeding estimates [2][4]. Financial Performance - The company reported break-even earnings in Q3 2025 compared to earnings of 6 cents per share in the same quarter last year [2]. - GAAP net loss was 29 cents per share in Q3 2025, compared to a loss of 24 cents in the prior-year quarter [3]. - Total revenues for Q3 2025 were $205.7 million, a decrease of 3.6% year-over-year, but surpassed the Zacks Consensus Estimate by 0.24% [4]. Future Guidance - For 2025, Myriad forecasts revenues between $818 million and $828 million, with the Zacks Consensus Estimate currently at $821.9 million [5]. - Adjusted earnings per share are expected to range from a loss of 2 cents to earnings of 2 cents, with the consensus estimate at 1 cent for 2025 [5]. Estimate Revisions - Since the earnings release, there has been a downward trend in fresh estimates, with the consensus estimate shifting down by 7.89% [6]. - The overall direction and magnitude of estimate revisions have resulted in a Zacks Rank 3 (Hold) for Myriad, indicating an expectation of in-line returns in the coming months [8]. Industry Comparison - Myriad is part of the Zacks Medical - Biomedical and Genetics industry, where Biogen Inc. has gained 20.7% over the past month [9]. - Biogen reported revenues of $2.53 billion for the last quarter, reflecting a year-over-year change of +2.8%, with EPS of $4.81 compared to $4.08 a year ago [10].

Myriad Genetics FY Conference Summary Company Overview - **Company**: Myriad Genetics (NasdaqGS:MYGN) - **Date of Conference**: December 02, 2025 Key Industry Insights - **Hereditary Cancer Market**: The unaffected population represents a $5 billion market opportunity, with significant growth potential as it remains less than a third penetrated [2][21] - **Mental Health Market**: Myriad Genetics is a market leader in mental health testing, with plans to maintain growth despite challenges from competitors [16][19] Core Company Strategies - **Focus on Cancer Care**: The updated strategy emphasizes a concentrated effort on the cancer care continuum, while managing growth in prenatal and mental health segments [3][8] - **Product Development**: Introduction of new products such as FirstGene and Early Access for prenatal screening, and an updated MyRisk product with 63 genes [7][10] - **Execution Excellence**: Acknowledgment of the need for improved execution in product development and market launch processes [3][4] Financial Performance - **Growth Metrics**: Mid-single-digit growth observed in GeneSight tests, with a return to growth in hereditary cancer testing after previous challenges [6][21] - **Revenue Projections**: GeneSight expected to generate over $150 million in revenue, with potential for mid-single to low double-digit growth rates [16][17] Competitive Landscape - **Market Positioning**: Myriad Genetics aims to differentiate itself from competitors like Natera and BillionToOne by leveraging its comprehensive product offerings and customer support [8][9] - **Guideline Engagement**: Active collaboration with Key Opinion Leaders (KOLs) to clarify NCCN guidelines and enhance the adoption of Myriad's Prolaris test for prostate cancer [12][13] Product Pipeline and R&D Focus - **MRD Testing**: Introduction of the Precise MRD assay, expected to launch in the first half of 2026, with a focus on low-shedding cancers [25][26] - **Partnerships**: Collaborations with Pathomic to accelerate R&D and market entry for new tests [29][33] - **Clinical Studies**: Over 20 studies in MRD across various cancer indications, with results expected to enhance clinical utility and guideline positioning [28][30] Challenges and Opportunities - **Reimbursement Issues**: Navigating reimbursement challenges, particularly with UnitedHealth's policy, while expanding payer coverage [16][20] - **Market Activation**: Efforts to activate the unaffected hereditary cancer market through improved workflows and sales strategies [22][23] Conclusion - Myriad Genetics is strategically positioning itself for growth in the hereditary cancer and mental health markets, with a strong focus on execution excellence and product innovation. The company is optimistic about its future prospects, particularly with the anticipated launch of new products and ongoing collaborations.