Myriad Genetics, Inc., a molecular diagnostics and precision medicine company, develops molecular tests. The company offers molecular diagnostic tests for oncology, women’s ...
Myriad Genetics, Inc. is a prominent player in the molecular diagnostics and precision medicine industry, focusing on the development and delivery of genetic tests that inform disease risk, diagnosis, and treatment. The company's portfolio includes tests for hereditary cancers (e.g., MyRisk, BRACAnalysis CDx), tumor profiling (e.g., Prolaris for prostate cancer, ...Myriad Genetics, Inc. is a prominent player in the molecular diagnostics and precision medicine industry, focusing on the development and delivery of genetic tests that inform disease risk, diagnosis, and treatment. The company's portfolio includes tests for hereditary cancers (e.g., MyRisk, BRACAnalysis CDx), tumor profiling (e.g., Prolaris for prostate cancer, EndoPredict for breast cancer, Precise Tumor Molecular Profile), prenatal screening (Prequel, SneakPeek, Foresight Carrier Screen), and pharmacogenomics (GeneSight for mental health medication selection). These products cater to a wide range of medical specialties including oncology, women's health, urology, and mental health, providing healthcare professionals and patients with critical information for personalized care.
Founded in 1991 by Peter Meldrum and Mark Skolnick, Myriad has since grown to employ approximately 2,700 people and generates annual revenues around $824.5 million (as of latest data). The company operates with a strong focus on research and development, allocating about 13.1% of revenue to R&D, and has established collaborations with leading institutions such as Illumina, M.D. Anderson Cancer Center, Mayo Clinic, and others to enhance its testing capabilities and expand its market reach.
Financially, Myriad has faced challenges in recent years, reporting negative net income and EBITDA margins, with a net profit margin of -14% and an EBITDA margin of -4.1% on a trailing twelve-month basis. The company's price-to-sales ratio is low at 0.38, indicating potential undervaluation relative to revenues, but its negative earnings yield and price-to-earnings ratio reflect ongoing losses. However, the company maintains a solid balance sheet with a current ratio of 2.21 and a debt-to-equity ratio of 0.69, suggesting short-term liquidity and manageable leverage.
Leadership is under CEO Samraat S. Raha, who took office in April 2025, succeeding the previous CEO. The company's mission to 'advance health and well-being for all' is evident in its commitment to accessible genetic testing and its educational initiatives for both healthcare professionals and the public. With a history spanning over three decades, Myriad continues to innovate in the field of precision medicine, aiming to integrate genetic insights into routine clinical care to prevent, detect, and treat diseases more effectively.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$824.5M
-1.6%
-4.8%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-365.9M
-187.4%
-26.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+69.9%
+0.1%
-3.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-8.2%
+21.7%
-33.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-44.4%
-192.0%
-33.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-25.6M
+33.3%
+50.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-3.1%
+32.3%
+48.2%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
57.0%
+184.9%
+10.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
2.49x
+36.9%
-8.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day and thank you for standing by. Welcome to the Myriad Genetics First Quarter 2026 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. Now it's my pleasure to hand the conference over to the Senior Vice President of Investor Relations, Matt Scalo. Please proceed.
Matthew Scalo: Good afternoon, and welcome to the Myriad Genetics First Quarter 2026 Earnings Call. During the call, we will review the financial results we released today. And afterwards, we will host a Q&A session. Our earnings release was issued this afternoon on Form 8-K and can be found on our website at investor.myriad.com. I'm Matt Scalo, Senior Vice President of Investor Relations. On the call with me today are Sam Raha, our President and Chief Executive Officer; Ben Wheeler, our Chief Financial Officer; and Brian Donnelly, our Chief Commercial Officer. Joining for Q&A will be Mark Verratti, our Chief Operating Officer. This call can be heard live via webcast at investor.myriad.com, and a recording will be archived in the Investors section of our website, along with this slide presentation. Please note that some of the information presented today contains projections or other forward-looking statements regarding future events or the future financial performance of the company. These statements are based on management's current expectations, and the actual events or results may differ materially and adversely from these expectations for a variety of reasons. We refer you to the documents the company files from time to time with the SEC, specifically the company's annual report on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K. These documents identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. I'll now turn the call over to Sam.
Samraat Raha: Thanks, Matt. Good afternoon, everyone, and thank you for joining us. I want to welcome our Chief Commercial Officer, Brian Donnelly, to the call as he will provide quarterly commercial business updates going forward, and our Chief Operating Officer, Mark Verratti, will join us for the Q&A portion of the call. Now considering it's been a year that I've been CEO, I thought we'd begin the call by reviewing a number of our key advancements over this time. These include, first, the prioritization of the Cancer Care Continuum. Recall last year, we updated our growth strategy and declared cancer screening and diagnosis as our business of highest importance. Since then, we prioritized our resources, budget and focus with this clear direction. And this year, we're making significant investments in the Cancer Care Continuum, including an expansion of our commercial capabilities and increased R&D spend on product development and clinical studies. Second, we have strengthened our organization with leaders that have proven experience and a depth of …
