Myriad Genetics, Inc
Myriad Genetics develops and commercializes molecular diagnostic tests that help clinicians assess disease risk, guide treatment selection, and support earlier detection across oncology, prenatal health, and mental health. The company combines laboratory testing, clinical evidence development, and commercial services to embed genetic insights into routine care.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueGenetic and genomic tests for hereditary cancer risk, therapy selection, tumor profiling, and MRD.
Non-invasive prenatal screening and carrier screening products used in pregnancy care.
GeneSight and related tests that help guide medication selection and dosing.
Companion diagnostic development, biomarker services, and other precision medicine offerings.
Products
Reported · share of revenue- Hereditary Cancer45.2 %
- Prenatal22.6 %
- Mental Health17.5 %
- Tumor Profiling14.8 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
Myriad sells primarily to healthcare providers, including community physicians, specialists, and large health systems that order tests for their patients. It also serves patients directly through provider-ordered testing workflows, and biopharma partners that need biomarker and companion diagnostic capabilities. Demand is driven by clinical utility: buyers use the tests to improve diagnosis, personalize treatment, and support reimbursement-backed care decisions.
Physicians and clinics that order Myriad's tests for routine patient care because the company has broad commercial reach and EMR integration goals.
Oncologists and cancer care teams buying hereditary cancer, HRD, tumor profiling, and MRD-related tests to guide treatment and surveillance.
OB/GYNs and maternal-fetal medicine practices ordering prenatal screening and carrier screening products for pregnancy risk assessment.
Psychiatrists and other prescribers using GeneSight to help select medications and improve treatment response.
Drug developers buying biomarker, companion diagnostic, and regulatory support services for clinical programs.
Strategy
Myriad's strategy is to accelerate profitable growth by deepening its position in cancer care, expanding prenatal health, and improving mental health reimbursement and account penetration. It is also investing in automation, EMR integration, clinical evidence, and partnerships such as PATHOMIQ and SOPHiA Genetics to broaden the portfolio faster than internal development alone would allow.
Oncology is the largest strategic opportunity and supports cross-selling across hereditary cancer, therapy selection, and MRD.
These businesses provide recurring demand and can offset pressure in pharmacogenomics reimbursement.
Automation and standardized processes are intended to lower cost per test and reduce operating expenses as a share of revenue.
Geography
Q1/2026Myriad is headquartered in the United States and generates most of its business there, with active sales operations in Japan and some international distribution. The company also had a European EndoPredict business that it sold in 2024, which reduced international exposure and simplified the portfolio. Geography matters because reimbursement, lab operations, and regulatory requirements differ by market, and the company relies on a single laboratory facility for each test.
Share of the revenue the company reports by geography.
Risks
Myriad faces reimbursement pressure, especially in pharmacogenomics, where UnitedHealthcare coverage changes have already reduced revenue. The business is also exposed to cybersecurity, third-party lab and phlebotomy dependencies, supply chain disruption, and concentration in single-lab processing, while competition and rapid technology change can erode pricing and adoption.
- Reimbursement and coverage riskImpact: HighLikelihood: High
Test demand depends on payer coverage; UnitedHealthcare's GeneSight change already hurt pharmacogenomics revenue.
Exposure: Pharmacogenomics and other payer-sensitive tests
- Cybersecurity and data privacy riskImpact: HighLikelihood: Medium
The company handles sensitive genetic and health data, so breaches could cause financial, regulatory, and reputational damage.
Exposure - Single-laboratory operational concentrationImpact: HighLikelihood: Medium
Each test is processed in one laboratory facility, so an outage or compliance issue could seriously harm operations.
Exposure: All test lines
- Competitive and technological disruptionImpact: MediumLikelihood: High
The diagnostics market has frequent product launches, price competition, and changing standards that can pressure share and margins.
Exposure - Third-party specimen collection dependencyImpact: Medium
Some tests rely on external labs and phlebotomy clinics; loss of access could prevent testing and delay revenue.
Exposure: Prequel and other collection-dependent tests
Accounting
Judgemental itemsReported revenue moves with test volume, average revenue per test, and payer coverage decisions.
Impact: Can create quarter-to-quarter volatility in reported sales
The company recognized $316.7 million of impairment charges in Q2 2025 after a sustained decline in market capitalization and forecast cuts.
Impact: Can materially reduce earnings and book value
Cumulative losses and limited future taxable income support a valuation allowance against most deferred tax assets.
Impact: Affects tax expense and effective tax rate
Laboratory reagent and supply costs, automation, and turnaround time affect gross margin.
Impact: Impacts gross margin and operating leverage
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Last updated: 24/09/2026