MYGN Q1 Earnings Top Estimates, Stock Down on Weak 2025 Outlook

Myriad Genetics, Inc. MYGN reported a first-quarter 2025 adjusted loss of 3 cents per share, which was narrower than the Zacks Consensus Estimate by 40%. The company reported a loss of 1 cent per share in the year-ago quarter. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar).

Adjusted earnings exclude amortization expenses from acquired intangible assets, equity compensation and real estate optimization. GAAP earnings per share (EPS) were flat in the first quarter compared to the prior-year quarter’s loss of 29 cents.

MYGN’s Q1 Revenues

Total revenues fell 3.1% year over year to $195.9 million and also lagged behind the Zacks Consensus Estimate by 2%. Testing volumes increased 1% year over year.

Following the announcement yesterday, shares of MYGN plunged 16.3% in the after-hours session.  

MYGN’s Q1 Revenues by Segments

Hereditary Cancer testing revenues fell 2% year over year to $86.3 million.

Pharmacogenomics testing revenues totaled $31 million, down 20% year over year.

Myriad Genetics, Inc. Price, Consensus and EPS Surprise

Myriad Genetics, Inc. price-consensus-eps-surprise-chart | Myriad Genetics, Inc. Quote

Tumor Profiling testing revenues fell 5% year over year to $29.3 million.

Prenatal testing revenues came in at $49.3 million, up 11% year over year.

MYGN’s Q1 Margin Performance

The gross margin expanded 45 basis points (bps) to 68.5% on a 4.5% decrease in the cost of revenues.

Research and development expenses rose 10.4% year over year to $27.5 million. SG&A expenses dipped 0.3% to $69 million in the reported quarter.

The adjusted operating loss was $29 million compared with a loss of $27.9 million in the year-ago quarter.

MYGN’s Financial Position

Myriad Genetics exited the first quarter of 2025 with cash and cash equivalents of $91.8 million compared with $102.4 million at the end of the fourth quarter of 2024.

Long-term debt amounted to $59.3 million, higher than $39.6 million at the end of the fourth quarter of 2024.

The cumulative net cash outflow from operating activities at the end of the reported quarter was $16.3 million compared with an outflow of $18.6 million in the year-ago period.

Myriad Genetics’ 2025 Guidance

For 2025, the company now forecasts revenues in the range of $807-$823 million (earlier $840-$860 million). The reduced guidance reflects an updated outlook for the pharmacogenomics business and hereditary cancer testing within the Women's Health business. The Zacks Consensus Estimate is pegged at $845.3 million.

Meanwhile, adjusted EPS is now expected between a loss of 2 cents and earnings of 2 cents compared to the previous 7-11 cents earnings range. The Zacks Consensus Estimate is pegged at 9 cents.

Our Take on MYGN

Myriad Genetics exited the first quarter of 2025 with an earnings beat and a revenue miss. The top line also decreased on a year-over-year basis. In the Pharmacogenomics business, GeneSight revenues were impacted by UnitedHealthcare’s coverage policy change effective Jan. 1, as well as the company’s marketing spend reallocation actions. Hereditary business in the women's health channel continued to be impacted by electronic medical record (EMR) integrations ramping up slower than expected. Myriad Genetics lowered its financial guidance for the full year, as current initiatives to re-accelerate testing volumes will take time. Additionally, the contraction of the gross margin was discouraging.

On a positive note, Prenatal testing saw growth across both carrier screen and non-invasive prenatal testing. Prequel Early Gestational Age test, launched during the fourth quarter of 2024, witnessed encouraging early adoption. The company is also progressing toward the commercial launch of its first AI-driven prostate cancer test, in partnership with PATHOMIQ, by the end of 2025.

MYGN’s Zacks Rank & Other Key Picks

MYGN currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks from the broader medical space are AngioDynamics ANGO, Integer Holdings Corporation ITGR and Boston Scientific BSX.

AngioDynamics, currently sporting a Zacks Rank #1 (Strong Buy), reported a third-quarter fiscal 2025 adjusted EPS of 3 cents against the Zacks Consensus Estimate of a 13-cent loss. Revenues of $72 million beat the Zacks Consensus Estimate by 2%. You can see the complete list of today’s Zacks #1 Rank stocks here.

ANGO has an estimated fiscal 2026 earnings growth rate of 27.8% compared with the S&P 500 composite’s 10.5% growth. The company surpassed earnings estimates in each of the trailing four quarters, with the average surprise being 70.9%.

Integer Holdings, sporting a Zacks Rank #1 at present, posted a first-quarter 2025 adjusted EPS of $1.31, exceeding the Zacks Consensus Estimate by 3.1%. Revenues of $437.4 million surpassed the Zacks Consensus Estimate by 1.3%.

ITGR has an estimated long-term earnings growth rate of 20.8% compared with the industry’s 14.3% growth. The company’s earnings surpassed estimates in three of the trailing four quarters and missed on one occasion, with the average surprise being 2.8%.

Boston Scientific, currently carrying a Zacks Rank #2, reported a first-quarter 2025 adjusted EPS of 75 cents, which surpassed the Zacks Consensus Estimate by 11.9%. Revenues of $4.66 billion topped the Zacks Consensus Estimate by 2.3%.

BSX has an estimated 2025 earnings growth rate of 15.9% compared with the S&P 500 composite’s 11.9% growth. The company’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 8.8%.

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This article originally published on Zacks Investment Research (zacks.com).

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