Shares of Myriad Genetics (NASDAQ: MYGN) tumbled 6.48% in pre-market trading on Tuesday, extending the 7.09% drop seen in after-hours trading on Monday. The steep decline comes in the wake of the company's third-quarter 2025 financial results release, which revealed substantial losses despite a slight revenue beat.
For Q3 2025, Myriad Genetics reported revenue of $205.7 million, marginally surpassing analyst estimates of $205.2 million. However, the genetic testing company posted a net loss of $27.4 million, equivalent to an earnings per share (EPS) of -$0.29. On an adjusted basis, the company broke even with $0 EPS, narrowly beating the expected -$0.01 per share. The quarter's operating loss stood at $23.3 million, despite a gross margin of 69.9%.
Adding to investor concerns, Myriad Genetics provided a cautious outlook for the full fiscal year 2025. The company expects annual revenue in the range of $818-828 million, with adjusted EPS projected between -$0.02 and $0.02. This guidance suggests the possibility of continued losses, which likely contributed to the sharp sell-off. As the genetic testing market becomes increasingly competitive, Myriad Genetics' ability to achieve profitability remains a key focus for investors, leading to the significant pre-market plunge.
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