0000899923-26-000038 | 10-Q | XBRL Viewer

ACCUMULATED OTHER COMPREHENSIVE INCOME

3 Months Ended

Mar. 31, 2026

The functional currency of the Company’s international subsidiaries is the local currency. For those subsidiaries, expenses denominated in the functional currency are translated into U.S. dollars using average exchange rates in effect during the period and assets and liabilities are translated using period-end exchange rates. The foreign currency translation adjustments are included in Accumulated other comprehensive income as a separate component of Stockholders’ equity in the Condensed Consolidated Balance Sheets.

The following table shows the cumulative translation adjustments included in Accumulated other comprehensive income:


(in millions)
Ending balance December 31, 2025	$	0.8
Period translation adjustments	(0.1)
Ending balance March 31, 2026	$	0.7

SEGMENT REPORTING AND RELATED INFORMATION	3 Months Ended
SEGMENT REPORTING AND RELATED INFORMATION	Mar. 31, 2026
Segment Reporting [Abstract]
SEGMENT REPORTING AND RELATED INFORMATION	SEGMENT REPORTING AND RELATED INFORMATION The Company has identified its President and Chief Executive Officer as its Chief Operating Decision Maker (the "CODM"). The CODM regularly reviews consolidated financial information for the purposes of evaluating performance, allocating resources, setting incentive compensation targets, and planning and forecasting for future periods. In alignment with how the CODM reviews performance and makes decisions in managing the Company, the Company has determined that it operates as a single operating segment. The Company has identified consolidated net income (loss) as the measure of segment profitability. The significant expenses and other segment expenses presented to the CODM are at the same level as presented in the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2026
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In order to determine the Company’s quarterly provision for income taxes, the Company used an estimated annual effective tax rate that is based on expected annual income and statutory tax rates in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter during which they occur and can be a source of variability in the effective tax rate from quarter to quarter. For the three months ended March 31, 2026, the income tax expense was insignificant, or approximately 0.0% of pre-tax loss, compared to $29.3 million income tax benefit, or approximately 99.7% of pre-tax loss, for the three months ended March 31, 2025. For the three months ended March 31, 2026, the Company’s effective tax rate differs from the U.S. federal statutory rate primarily due to the recognition of valuation allowances. Due to the Company's cumulative loss and the exhaustion of future taxable income from the reversal of taxable temporary differences, the Company's estimated annual effective tax rate for the current year includes a valuation allowance against the current year increase in deferred tax assets. For the three months ended March 31, 2025, the Company’s effective tax rate differed from the U.S. federal statutory rate primarily due to the release of unrecognized tax benefits and the recognition of valuation allowances. The unrecognized tax benefits released were primarily related to tax refund claims following the Coronavirus Aid, Relief, and Economic Security Act (referred to as the CARES Act) that allowed the carryback of losses related to tax years ended June 30, 2017 through June 30, 2020. During the three months ended March 31, 2025, the Company was notified by the Joint Committee on Taxation that it had concluded its review of these tax refund claims. As a result, the Company remeasured or released the unrecognized tax benefits resulting in a discrete tax benefit of $29.6 million.

- Definition

The entire disclosure for income tax.

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+ Details

PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

The property, plant and equipment at March 31, 2026 and December 31, 2025 were as follows:


(in millions)	March 31, 2026		December 31, 2025
Leasehold improvements	$	80.5	$	80.4
Equipment	121.5		121.5
Property, plant and equipment, gross	202.0		201.9
Less accumulated depreciation	(90.5)		(87.9)
Property, plant and equipment, net	$	111.5	$	114.0

The Company recorded depreciation during the respective periods as follows:


	Three months ended March 31,
(in millions)		2026		2025
Depreciation expense		$	4.7	$	5.1

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Common Stock Issued and Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Common shares issued and outstanding
Beginning common stock issued (shares)	93.5	91.3
Beginning common stock outstanding (shares)	93.5	91.3
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan (shares)	0.9	0.9
Ending common stock issued (shares)	94.4	92.2
Ending common stock outstanding (shares)	94.4	92.2

PREFERRED AND COMMON STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Common Stock Issued and Outstanding

A summary of the changes in the issued and outstanding common stock for the three months ended March 31, 2026 and 2025 is as follows:


	Three months ended March 31,
(in millions)	2026	2025
Beginning common stock issued and outstanding	93.5	91.3
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan	0.9	0.9

Common stock issued and outstanding at end of period	94.4	92.2

Schedule of Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations

The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations:


	Three months ended March 31,
(in millions)		2026	2025
Denominator:
Weighted-average shares outstanding used to compute basic EPS		93.7	91.4
Effect of dilutive shares		—	—
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS		93.7	91.4

Schedule of Potential Dilutive Common Shares

These potential dilutive shares of common stock, which may be dilutive to future diluted earnings per share, are as follows:


	Three months ended March 31,
(in millions)		2026	2025
Anti-dilutive options and RSUs excluded from EPS computation		9.6	5.8

SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net of refunds received	$ (11.5)	$ 0.3
Cash paid for interest	3.3	0.5
Change in operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets	2.7	1.2
Operating lease liabilities	(2.7)	(1.2)
Tenant improvement allowance not yet received	6.5	0.0
Purchases of property, plant and equipment and capitalization of intangible assets in accounts payable and accrued liabilities	$ 1.9	$ 4.2

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Unit Activity (Details) - RSUs shares in Millions	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Number of Shares
RSUs unvested and outstanding, beginning balance (shares) \| shares	7.1
RSUs granted (shares) \| shares	3.7
RSUs vested (shares) \| shares	(1.6)
RSUs canceled (shares) \| shares	(0.3)
RSUs unvested and outstanding, ending balance (shares) \| shares	8.9
Weighted Average Grant Date Fair Value
RSUs unvested and outstanding, beginning balance (dollars per share) \| $ / shares	$ 11.27
RSUs granted (dollars per share) \| $ / shares	4.83
RSUs vested (dollars per share) \| $ / shares	17.28
RSUs canceled (dollars per share) \| $ / shares	13.20
RSUs unvested and outstanding, ending balance (dollars per share) \| $ / shares	$ 7.34

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - $ / shares shares in Millions	Mar. 31, 2026	Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]
Options outstanding (shares)	0.7	0.7
Options exercisable at end of period (shares)	0.5
Options outstanding (dollars per share)	$ 13.38	$ 13.38
Options exercisable at end of period (dollars per share)	$ 13.38

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 124.4	$ 149.6
Trade accounts receivable	123.8	115.3
Inventory	27.9	30.6
Prepaid taxes	2.0	12.0
Prepaid expenses and other current assets	34.7	25.1
Total current assets	312.8	332.6
Operating lease right-of-use assets	51.0	49.4
Property, plant and equipment, net	111.5	114.0
Intangible assets, net	145.7	153.4
Goodwill	47.1	51.6
Other assets	5.6	5.6
Total assets	673.7	706.6
Current liabilities:
Accounts payable	32.6	30.0
Accrued liabilities	90.5	96.9
Current maturities of operating lease liabilities	7.1	6.9
Total current liabilities	130.2	133.8
Long-term debt	120.3	119.9
Noncurrent operating lease liabilities	84.1	83.0
Other long-term liabilities	1.7	1.9
Total liabilities	336.3	338.6
Commitments and contingencies
Stockholders’ equity:
Common stock, 94.4 and 93.5 shares outstanding at March 31, 2026 and December 31, 2025, respectively	0.9	0.9
Additional paid-in capital	1,492.6	1,489.0
Accumulated other comprehensive income	0.7	0.8
Accumulated deficit	(1,156.8)	(1,122.7)
Total stockholders' equity	337.4	368.0
Total liabilities and stockholders’ equity	$ 673.7	$ 706.6

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenue	$ 200.4	$ 195.9
Cost of revenue	62.8	61.7
Gross profit	137.6	134.2
Costs and expenses:
Research and development expense	27.1	27.5
Sales and marketing expense	73.6	69.2
General and administrative expense	62.2	66.5
Goodwill and long-lived asset impairment charges	5.4	0.0
Total operating expenses	168.3	163.2
Operating loss	(30.7)	(29.0)
Other income (expense):
Interest income	0.7	0.3
Interest expense	(4.1)	(0.8)
Other	0.0	0.1
Total other expense, net	(3.4)	(0.4)
Loss before income tax	(34.1)	(29.4)
Income tax benefit	0.0	29.3
Net loss	$ (34.1)	$ (0.1)
Net loss per share:
Basic (dollars per share)	$ (0.36)	$ 0
Diluted (dollars per share)	$ (0.36)	$ 0
Weighted average shares outstanding:
Basic (shares)	93.7	91.4
Diluted (shares)	93.7	91.4

GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 51.6
Goodwill impairment	(4.5)
Ending balance	$ 47.1

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (34.1)	$ (0.1)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	12.5	14.4
Non-cash lease expense	1.0	2.8
Stock-based compensation expense	6.5	9.5
Unrecognized tax benefits	0.0	(31.3)
Impairment of goodwill and long-lived assets	5.4	0.0
Other non-cash adjustments	1.2	0.5
Changes in assets and liabilities:
Prepaid expenses and other current assets	(9.7)	(2.2)
Trade accounts receivable	(8.7)	0.8
Inventory	2.7	(0.9)
Prepaid taxes	10.0	2.1
Other assets	(0.5)	0.5
Accounts payable	5.4	0.0
Accrued liabilities	(7.4)	(12.4)
Net cash used in operating activities	(15.7)	(16.3)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(5.4)	(5.3)
Capitalization of intangible assets	(1.1)	(3.0)
Net cash used in investing activities	(6.5)	(8.3)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of tax withheld for common stock issued under stock-based compensation plans	(2.9)	(5.8)
Proceeds from revolving credit facility	0.0	40.0
Repayment of revolving credit facility	0.0	(20.5)
Payment on finance leases	(0.1)	(0.1)
Net cash (used in) provided by financing activities	(3.0)	13.6
Effect of foreign exchange rates on cash, cash equivalents, and restricted cash	(0.1)	0.1
Net decrease in cash, cash equivalents, and restricted cash	(25.3)	(10.9)
Cash, cash equivalents, and restricted cash at beginning of the period	151.3	111.9
Cash, cash equivalents, and restricted cash at end of the period	$ 126.0	$ 101.0

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Myriad Genetics, Inc. (together with its subsidiaries, the “Company” or “Myriad”) is a leading molecular diagnostics and precision medicine company committed to advancing health and well-being for all. The Company develops and commercializes molecular tests that help patients and providers uncover genetic insights. Myriad tests assess the risk of developing disease or disease progression and guide treatment decisions across medical specialties where molecular insights can significantly improve patient care, support earlier detection, enable more precise treatment and contribute to lowering healthcare costs. The Company’s principal executive office is located in Salt Lake City, Utah. The accompanying Condensed Consolidated Financial Statements for the Company have been prepared in accordance with United States ("U.S.") generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The accompanying Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company has historically experienced some seasonality in its business, including due to factors such as the timing of deductibles resetting or being met. While the Company continues to experience periodic fluctuations in quarterly revenues, these variations are increasingly influenced by other factors such as the timing of customer activity, reimbursement dynamics, and broader market conditions. As a result, the Company believes that current operating results may not be indicative of results to be expected for any other interim period or for the full year. Recent Accounting Pronouncements In September 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The guidance in ASU 2025-07 refines the scope of derivative accounting under Accounting Standards Codification ("ASC") 815 by expanding an existing scope exception to exclude certain non-exchange traded contracts with underlyings based on the operations or activities of one of the contract parties from derivative classification. The ASU also provides guidance under Topic 606 on the accounting for share-based noncash consideration received from a customer in a revenue contract, including measurement and timing considerations. ASU 2025-07 is effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-07. In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40, Internal-Use Software Accounting & Capitalization. ASU 2025-06 makes targeted improvements to ASC 350-40 by changing the cost capitalization threshold, eliminating accounting consideration of software project development stages and enhancing the guidance around the "probable-to-complete" threshold. It also modifies the website development costs guidance by eliminating Subtopic 350-50 and relocating any remaining relevant guidance into Subtopic 350-40. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-06. In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03. Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the Company's total assets, total liabilities, stockholders' equity, net loss, comprehensive income (loss) or cash flows.

REVENUE

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

REVENUE

The Company primarily generates revenue by performing molecular diagnostic testing, primarily derived from the following categories of products: Cancer Care Continuum (MyRisk, BRACAnalysis CDx, MyChoice CDx, Prolaris, Precise Tumor, and Precise MRD), Prenatal Health (Foresight, Prequel, FirstGene and SneakPeek), and Mental Health (GeneSight). Revenue is recorded at the estimated transaction price. Control is transferred and revenue is recognized once test results are released to the healthcare provider and/or patient.

During the current period, the Company updated the presentation of its product categories. Certain products previously presented within separate Hereditary Cancer and Tumor Profiling categories are now collectively reported within the Cancer Care Continuum category.

The following table presents details regarding the composition of the Company’s total revenue by product type and by geographical region, either U.S. or rest of world (“RoW”):


	Three months ended March 31,
	2026						2025
(in millions)	U.S.		RoW		Total		U.S.		RoW		Total
Cancer Care Continuum	$	106.8	$	13.4	$	120.2	$	101.4	$	14.2	$	115.6
Prenatal Health	41.9		—		41.9		49.2		0.1		49.3
Mental Health	38.3		—		38.3		31.0		—		31.0
Total revenue	$	187.0	$	13.4	$	200.4	$	181.6	$	14.3	$	195.9

In determining the transaction price, the Company includes an estimate of the expected amount of consideration to be received. The estimate of revenue is affected by, among other factors, assumptions for changes in payor mix, payor collections, current customer contractual requirements, experience with collections from third-party payors, and changes in medical policies. When assessing the total consideration for insurance carriers and patients, revenue is further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in Revenue in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss).

Cash collections for certain tests delivered may differ from rates estimated due to changes in the estimated transaction price for contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met, settlements with third-party payors, or as a result of third-party payors disputing bills or denying payment for tests that the Company has performed, among other reasons. As a result of this new information, the Company updates its estimate of the amounts to be recognized for previously delivered tests. During the three months ended March 31, 2026 and 2025, the impact of the amounts to be recognized for tests in which the performance obligation was met in a prior period was not material to the Condensed Consolidated Statements of Operations.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	$ 6.5	$ 9.5
Cost of revenue
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	0.2	0.3
Research and development expense
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	1.2	2.1
Sales and marketing expense
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	0.8	1.5
General and administrative expense
Share-Based Compensation Expense [Line Items]
Total stock-based compensation expense	$ 4.3	$ 5.6

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($)			3 Months Ended
	Mar. 12, 2026	Sep. 23, 2021	Mar. 31, 2026	Mar. 31, 2025	Mar. 26, 2026	Jun. 05, 2025
Share-Based Compensation [Line Items]
Unrecognized stock-based compensation expense related to stock options			$ 0
Options granted (in shares)			0
RSUs
Share-Based Compensation [Line Items]
Unrecognized stock-based compensation expense related to RSUs			$ 47,000,000.0
Weighted-average period for recognition (in years)			2 years 3 months 18 days
Options and RSUs \| Non-Employee Director
Share-Based Compensation [Line Items]
Service period for award vesting (in years)			1 year
Minimum \| RSUs
Share-Based Compensation [Line Items]
Service period for award vesting (in years)			3 years
Maximum \| RSUs
Share-Based Compensation [Line Items]
Service period for award vesting (in years)			4 years
2026 Plan, Including Shares Rolled from 2017 Plan
Share-Based Compensation [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)					8,600,000
2017 Plan
Share-Based Compensation [Line Items]
Shares available for grant (in shares)			1,900,000			6,500,000
2026 Plan
Share-Based Compensation [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares authorized (in shares)					6,400,000
2026 Plan \| RSUs
Share-Based Compensation [Line Items]
Shares currently subject to RSU awards from prior plan (in shares)					8,700,000
2012 Purchase Plan
Share-Based Compensation [Line Items]
Shares available for grant (in shares)			0
Number of additional shares authorized (in shares)	4,000,000.0	4,000,000.0
Maximum number of shares per participant per offering period (in shares)		5,000
Shares purchased under the plan (in shares)			0	0
Compensation expense			$ 0	$ 500,000

REVENUE (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Total Revenue by Type and by U.S versus Rest of World

The following table presents details regarding the composition of the Company’s total revenue by product type and by geographical region, either U.S. or rest of world (“RoW”):


	Three months ended March 31,
	2026						2025
(in millions)	U.S.		RoW		Total		U.S.		RoW		Total
Cancer Care Continuum	$	106.8	$	13.4	$	120.2	$	101.4	$	14.2	$	115.6
Prenatal Health	41.9		—		41.9		49.2		0.1		49.3
Mental Health	38.3		—		38.3		31.0		—		31.0
Total revenue	$	187.0	$	13.4	$	200.4	$	181.6	$	14.3	$	195.9

LONG-TERM DEBT - Narrative (Details) - USD ($) $ in Millions		12 Months Ended
	Jul. 31, 2025	Dec. 31, 2029	Dec. 31, 2025	Mar. 31, 2026
Debt Instrument [Line Items]
Principal amount			$ 119.9	$ 120.3
Long-term debt	$ 125.0		$ 125.0	$ 125.0
Secured Debt \| Credit Agreement
Debt Instrument [Line Items]
Principal amount	200.0
Maximum principal amount	75.0
Debt issuance costs, gross	$ 9.4
Interest rate, stated percentage	2.50%
Basis spread on rate (as percent)	6.50%
Principal payment, percentage of unpaid amount	2.50%
Undrawn fee (as percent)	0.50%
Weighted average interest rate (as percent)			10.40%	10.20%
Minimum trailing twelve month revenue			$ 615.0
Secured Debt \| Credit Agreement \| Forecast
Debt Instrument [Line Items]
Minimum trailing twelve month revenue		$ 974.0

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment, Net

The property, plant and equipment at March 31, 2026 and December 31, 2025 were as follows:


(in millions)	March 31, 2026		December 31, 2025
Leasehold improvements	$	80.5	$	80.4
Equipment	121.5		121.5
Property, plant and equipment, gross	202.0		201.9
Less accumulated depreciation	(90.5)		(87.9)
Property, plant and equipment, net	$	111.5	$	114.0

The Company recorded depreciation during the respective periods as follows:


	Three months ended March 31,
(in millions)		2026		2025
Depreciation expense		$	4.7	$	5.1

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the stock option activity for the three months ended March 31, 2026 is as follows:


(number of shares in millions)	Number of Shares	Weighted Average Exercise Price
Options outstanding at December 31, 2025	0.7	$	13.38




Options outstanding at March 31, 2026	0.7	$	13.38
Options exercisable at March 31, 2026	0.5	$	13.38

Schedule of Restricted Stock Unit Activity

A summary of the RSU awards activity under the Company’s equity plans and inducement awards, including PSU awards, for the three months ended March 31, 2026 is as follows:


(number of shares in millions)	Number of Shares	Weighted Average Grant Date Fair Value
RSUs unvested and outstanding at December 31, 2025	7.1	$	11.27
RSUs granted	3.7	$	4.83
Less:
RSUs vested	(1.6)	$	17.28
RSUs canceled	(0.3)	$	13.20
RSUs unvested and outstanding at March 31, 2026	8.9	$	7.34

Schedule of Stock-Based Compensation Income (Loss)

Stock-based compensation expense recognized and included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) was allocated as follows:


	Three months ended March 31,
(in millions)		2026		2025
Cost of revenue		$	0.2	$	0.3
Research and development expense		1.2		2.1
Sales and marketing expense		0.8		1.5
General and administrative expense		4.3		5.6
Total stock-based compensation expense		$	6.5	$	9.5

GOODWILL AND INTANGIBLE ASSETS - Schedule of Recorded Amortization Expense for Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 7.9	$ 9.4

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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-Publisher FASB
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+ Details

SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

The Company's supplemental cash flow information for the three months ended March 31, 2026 and 2025 is as follows:


	Three Months Ended March 31,
(in millions)	2026		2025
Cash paid for income taxes, net of refunds received	$	(11.5)	$	0.3
Cash paid for interest	3.3		0.5
Non-cash investing and financing activities:
Change in operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets	$	2.7	$	1.2
Operating lease liabilities	(2.7)		(1.2)
Tenant improvement allowance not yet received	6.5		—
Purchases of property, plant and equipment and capitalization of intangible assets in accounts payable and accrued liabilities	1.9		4.2

Cash paid for income taxes, net of refunds received, includes $11.7 million in income tax refunds received during the three months ended March 31, 2026, related to the receipt of a prior-year refund claim.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the Condensed Consolidated Balance Sheets that agrees to the amounts included in the Condensed Consolidated Statements of Cash Flows.


	March 31,
(in millions)	2026		2025
Cash and cash equivalents	$	124.4	$	91.8
Restricted cash	1.6		9.2
Total cash, cash equivalents, and restricted cash	$	126.0	$	101.0

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is involved from time to time in various disputes, claims, and legal actions, including class actions and other litigation, including the matters described below, arising in the ordinary course of business. Such actions may include allegations of negligence, product or professional liability or other legal claims, and could involve claims for substantial compensatory and punitive damages or claims for indeterminate amounts of damages. The Company is also involved, from time to time, in investigations by governmental agencies regarding its business which may result in adverse judgments, settlements, fines, penalties, injunctions, or other relief. In addition, certain federal and state statutes, including the qui tam provisions of the federal False Claims Act, allow private individuals to bring lawsuits against healthcare companies on behalf of the government or private payors. The Company has received subpoenas from time to time related to billing or other practices based on the False Claims Act or other federal and state statutes, regulations, or other laws. The Company intends to defend its current litigation matters but cannot provide any assurance as to the ultimate outcome or that an adverse resolution would not have a material adverse effect on its financial condition, results of operations or cash flows. The Company assesses legal contingencies to determine the degree of probability and range of possible loss for potential accrual and disclosure in its financial statements. When evaluating legal contingencies, the Company may be unable to provide a meaningful estimate due to a number of factors, including the proceedings may be in early stages, there may be uncertainty as to the outcome of pending appeals or motions, there may be significant factual issues to be resolved, and there may be complex or novel legal theories to be presented. In addition, damages may not be specified or the damage amounts claimed may be unsupported, exaggerated or unrelated to possible outcomes, and therefore, such amounts are not a reliable indicator of potential liability. As of March 31, 2026, the Company has not recorded any material accrual for loss contingencies associated with legal proceedings or other matters or determined that an unfavorable outcome is probable and reasonably estimable in accordance with ASC 450, Contingencies. However, it is possible that the ultimate resolution of legal proceedings or other matters, if unfavorable, may be material to the Company's results of operations, financial condition or cash flows. Further, in the event that damages from an unfavorable resolution of one or more of these proceedings exceed the aggregate amount of the coverage limits of the Company’s insurance, or if the Company’s insurance carriers disclaim coverage, the amounts payable by the Company could also have a material adverse impact on the Company’s results of operations, financial condition or cash flows. From time to time, the Company receives recoupment requests from third-party payors for alleged overpayments. The Company disagrees with the contentions of the pending requests or has recorded an estimated reserve for the alleged overpayments. Qui Tam Lawsuit In June 2023, the Company received a civil investigative demand pursuant to the False Claims Act from the U.S. Department of Justice concerning whether the Company offered or paid remuneration to physicians at Carolina Urology Partners, PLLC, in exchange for referrals. The Department of Justice subsequently requested additional documentation and information during its investigation. The Company cooperated with the Department of Justice investigation, providing the documents and information requested. On January 22, 2025, the U.S. District Court for the Western District of North Carolina unsealed a qui tam complaint, filed on November 3, 2022, against Carolina Urology Partners, PLLC, and certain of its current or former physician partners, and the Company and certain of its former employees, alleging violations of the False Claims Act. The government declined to intervene in the case. The Company was not aware of the complaint until after it was unsealed. On April 16, 2025, the Company was served with the complaint. In June 2025, the Company filed a motion to dismiss the complaint. The Company's motion to dismiss challenges the constitutionality of the qui tam provisions of the False Claims Act. Following the filing of the Company's motion to dismiss, the United States government elected to intervene in this case for the limited purpose of defending the constitutionality of the qui tam provisions of the False Claims Act.

ACCRUED LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

The Company's accrued liabilities at March 31, 2026 and December 31, 2025 were as follows:


(in millions)	March 31, 2026		December 31, 2025
Employee compensation and benefits	$	39.8	$	51.2
Accrued taxes payable	6.6		5.7
Refunds payable and reserves	19.3		19.9
Accrued royalties	4.7		4.7

Other accrued liabilities	20.1		15.4
Total accrued liabilities	$	90.5	$	96.9

LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company's long-term debt at March 31, 2026 and December 31, 2025 consisted of the following amounts:


(in millions)	March 31, 2026		December 31, 2025
Long-term debt	$	125.0	$	125.0
Accrued exit fee	3.8		3.8
Unamortized debt discount and issuance costs	(8.5)		(8.9)
Total long-term debt, net	$	120.3	$	119.9

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

REVENUE - Schedule of Total Revenue by Type and by U.S versus Rest of World (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total revenue	$ 200.4	$ 195.9
U.S.
Disaggregation of Revenue [Line Items]
Total revenue	187.0	181.6
RoW
Disaggregation of Revenue [Line Items]
Total revenue	13.4	14.3
Cancer Care Continuum
Disaggregation of Revenue [Line Items]
Total revenue	120.2	115.6
Cancer Care Continuum \| U.S.
Disaggregation of Revenue [Line Items]
Total revenue	106.8	101.4
Cancer Care Continuum \| RoW
Disaggregation of Revenue [Line Items]
Total revenue	13.4	14.2
Prenatal Health
Disaggregation of Revenue [Line Items]
Total revenue	41.9	49.3
Prenatal Health \| U.S.
Disaggregation of Revenue [Line Items]
Total revenue	41.9	49.2
Prenatal Health \| RoW
Disaggregation of Revenue [Line Items]
Total revenue	0.0	0.1
Mental Health
Disaggregation of Revenue [Line Items]
Total revenue	38.3	31.0
Mental Health \| U.S.
Disaggregation of Revenue [Line Items]
Total revenue	38.3	31.0
Mental Health \| RoW
Disaggregation of Revenue [Line Items]
Total revenue	$ 0.0	$ 0.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Goodwill [Line Items]
Goodwill impairment loss	$ 4.5
Goodwill	$ 47.1	$ 51.6
Women’s Health Reporting Unit
Goodwill [Line Items]
Percentage of discount rate, on risk adjusted cost of capital	17.00%
Goodwill impairment loss	$ 4.5
Goodwill, Fair Value Disclosure	0.0
Mental Health Reporting Unit
Goodwill [Line Items]
Goodwill	29.8
International Reporting Unit
Goodwill [Line Items]
Goodwill	$ 17.3

+ References + Details

- Definition

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+ Details

SUPPLEMENTAL CASH FLOW INFORMATION - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes, net of refunds received	$ 11.7

Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - shares shares in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Common stock, shares outstanding (shares)	94.4	93.5	92.2	91.3

ACCRUED LIABILITIES

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

The Company's accrued liabilities at March 31, 2026 and December 31, 2025 were as follows:


(in millions)	March 31, 2026		December 31, 2025
Employee compensation and benefits	$	39.8	$	51.2
Accrued taxes payable	6.6		5.7
Refunds payable and reserves	19.3		19.9
Accrued royalties	4.7		4.7

Other accrued liabilities	20.1		15.4
Total accrued liabilities	$	90.5	$	96.9

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 368.0	$ 701.1
Period translation adjustments	(0.1)	0.2
Ending balance	337.4	$ 704.9
Accumulated Foreign Currency Adjustment Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0.8
Period translation adjustments	(0.1)
Ending balance	$ 0.7

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow Information

The Company's supplemental cash flow information for the three months ended March 31, 2026 and 2025 is as follows:


	Three Months Ended March 31,
(in millions)	2026		2025
Cash paid for income taxes, net of refunds received	$	(11.5)	$	0.3
Cash paid for interest	3.3		0.5
Non-cash investing and financing activities:
Change in operating lease right-of-use assets and lease liabilities
Operating lease right-of-use assets	$	2.7	$	1.2
Operating lease liabilities	(2.7)		(1.2)
Tenant improvement allowance not yet received	6.5		—
Purchases of property, plant and equipment and capitalization of intangible assets in accounts payable and accrued liabilities	1.9		4.2

Schedule of Cash and Cash Equivalents


	March 31,
(in millions)	2026		2025
Cash and cash equivalents	$	124.4	$	91.8
Restricted cash	1.6		9.2
Total cash, cash equivalents, and restricted cash	$	126.0	$	101.0

Schedule of Restrictions on Cash and Cash Equivalents


	March 31,
(in millions)	2026		2025
Cash and cash equivalents	$	124.4	$	91.8
Restricted cash	1.6		9.2
Total cash, cash equivalents, and restricted cash	$	126.0	$	101.0

LONG-TERM DEBT - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Jul. 31, 2025
Debt Disclosure [Abstract]
Long-term debt	$ 125.0	$ 125.0	$ 125.0
Accrued exit fee	3.8	3.8
Unamortized debt discount and issuance costs	(8.5)	(8.9)
Total long-term debt, net	$ 120.3	$ 119.9

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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+ Details

PROPERTY, PLANT AND EQUIPMENT, NET - Schedule of Property, Plant, and Equipment, Net (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 202.0	$ 201.9
Less accumulated depreciation	(90.5)	(87.9)
Property, plant and equipment, net	111.5	114.0
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	80.5	80.4
Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 121.5	$ 121.5

PROPERTY, PLANT AND EQUIPMENT, NET - Schedule of Depreciation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 4.7	$ 5.1

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Income tax benefit	$ 0.0	$ 29.3
Approximate tax rate (as percent)	0.00%	99.70%
Discrete tax benefit		$ 29.6

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Potential Dilutive Common Shares (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Equity [Abstract]
Anti-dilutive options and RSUs excluded from EPS computation (shares)	9.6	5.8

PREFERRED AND COMMON STOCKHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

PREFERRED AND COMMON STOCKHOLDERS' EQUITY

The Company is authorized to issue up to 5.0 million shares of preferred stock, par value $0.01 per share. There were no shares of preferred stock outstanding at March 31, 2026.

The Company is authorized to issue up to 150.0 million shares of common stock, par value $0.01 per share. There were 94.4 million shares of common stock issued and outstanding at March 31, 2026.

Shares of Common Stock Issued and Outstanding

A summary of the changes in the issued and outstanding common stock for the three months ended March 31, 2026 and 2025 is as follows:


	Three months ended March 31,
(in millions)	2026	2025
Beginning common stock issued and outstanding	93.5	91.3
Common stock issued upon exercise of options, vesting of restricted stock units, and purchases under employee stock purchase plan	0.9	0.9

Common stock issued and outstanding at end of period	94.4	92.2

Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed based on the weighted-average number of shares of common stock, including the dilutive effect of common stock equivalents, outstanding. In periods when the Company has a net loss, stock awards are excluded from the calculation of diluted net loss per share as their inclusion would have an antidilutive effect.

The following is a reconciliation of the denominators of the basic and diluted earnings per share (“EPS”) computations:


	Three months ended March 31,
(in millions)		2026	2025
Denominator:
Weighted-average shares outstanding used to compute basic EPS		93.7	91.4
Effect of dilutive shares		—	—
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS		93.7	91.4

Certain outstanding options and restricted stock units (“RSUs”) were excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive. These potential dilutive shares of common stock, which may be dilutive to future diluted earnings per share, are as follows:


	Three months ended March 31,
(in millions)		2026	2025
Anti-dilutive options and RSUs excluded from EPS computation		9.6	5.8

- Definition

The entire disclosure for equity.

+ References

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+ Details

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying Condensed Consolidated Financial Statements for the Company have been prepared in accordance with United States ("U.S.") generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). All intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of normal and recurring accruals) necessary to present fairly all financial statements in accordance with GAAP. The accompanying Condensed Consolidated Financial Statements should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”). The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company has historically experienced some seasonality in its business, including due to factors such as the timing of deductibles resetting or being met. While the Company continues to experience periodic fluctuations in quarterly revenues, these variations are increasingly influenced by other factors such as the timing of customer activity, reimbursement dynamics, and broader market conditions. As a result, the Company believes that current operating results may not be indicative of results to be expected for any other interim period or for the full year.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In September 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606): Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The guidance in ASU 2025-07 refines the scope of derivative accounting under Accounting Standards Codification ("ASC") 815 by expanding an existing scope exception to exclude certain non-exchange traded contracts with underlyings based on the operations or activities of one of the contract parties from derivative classification. The ASU also provides guidance under Topic 606 on the accounting for share-based noncash consideration received from a customer in a revenue contract, including measurement and timing considerations. ASU 2025-07 is effective for annual and interim periods beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-07. In September 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40, Internal-Use Software Accounting & Capitalization. ASU 2025-06 makes targeted improvements to ASC 350-40 by changing the cost capitalization threshold, eliminating accounting consideration of software project development stages and enhancing the guidance around the "probable-to-complete" threshold. It also modifies the website development costs guidance by eliminating Subtopic 350-50 and relocating any remaining relevant guidance into Subtopic 350-40. ASU 2025-06 is effective for annual and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-06. In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, requiring public entities to disclose additional information about specific expense categories in the notes to the financial statements on an interim and annual basis. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and for interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2024-03.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with the current period presentation. The reclassifications have no impact on the Company's total assets, total liabilities, stockholders' equity, net loss, comprehensive income (loss) or cash flows.
Revenue	In determining the transaction price, the Company includes an estimate of the expected amount of consideration to be received. The estimate of revenue is affected by, among other factors, assumptions for changes in payor mix, payor collections, current customer contractual requirements, experience with collections from third-party payors, and changes in medical policies. When assessing the total consideration for insurance carriers and patients, revenue is further constrained for estimated refunds. The Company reserves certain amounts in Accrued liabilities in the Condensed Consolidated Balance Sheets in anticipation of requests for refunds of payments made previously by insurance carriers, which are accounted for as reductions in Revenue in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss). Cash collections for certain tests delivered may differ from rates estimated due to changes in the estimated transaction price for contractual adjustments, obtaining updated information from payors and patients that was unknown at the time the performance obligation was met, settlements with third-party payors, or as a result of third-party payors disputing bills or denying payment for tests that the Company has performed, among other reasons. As a result of this new information, the Company updates its estimate of the amounts to be recognized for previously delivered tests. During the three months ended March 31, 2026 and 2025, the impact of the amounts to be recognized for tests in which the performance obligation was met in a prior period was not material to the Condensed Consolidated Statements of Operations.
Fair Value Measurements	The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1—quoted prices in active markets for identical assets and liabilities. Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities. Level 3—unobservable inputs. The carrying amounts of certain financial instruments—including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses—approximate their fair values due to their short-term maturities. Additionally, the carrying value of our long-term debt as of March 31, 2026, approximates its fair value due to the debt’s floating interest rate based on prevailing market rates. The Company's fair value measurements related to impairment testing for goodwill and certain intangible assets were determined using Level 3 unobservable inputs; see Note 5, "Goodwill and Intangible Assets" for further discussion.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FAIR VALUE MEASUREMENTS	3 Months Ended
FAIR VALUE MEASUREMENTS	Mar. 31, 2026
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The fair value of the Company’s financial instruments reflects the amounts that the Company estimates it will receive in connection with the sale of an asset or pay in connection with the transfer of a liability in an orderly transaction between market participants at the measurement date (exit price). The fair value hierarchy prioritizes the use of inputs used in valuation techniques into the following three levels: Level 1—quoted prices in active markets for identical assets and liabilities. Level 2—observable inputs other than quoted prices in active markets for identical assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Some of the Company’s marketable securities primarily utilize broker quotes in a non-active market for valuation of these securities. Level 3—unobservable inputs. The carrying amounts of certain financial instruments—including cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses—approximate their fair values due to their short-term maturities. Additionally, the carrying value of our long-term debt as of March 31, 2026, approximates its fair value due to the debt’s floating interest rate based on prevailing market rates. The Company's fair value measurements related to impairment testing for goodwill and certain intangible assets were determined using Level 3 unobservable inputs; see Note 5, "Goodwill and Intangible Assets" for further discussion.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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+ Details

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2026 are as follows:


(in millions)	Total
Beginning balance	$	51.6
Goodwill impairment	(4.5)
Ending balance	$	47.1

Schedule of Amortizable Intangible Assets

The following tables summarize the amounts reported as intangible assets:


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At March 31, 2026
Developed technologies	$	475.0	$	(358.7)	$	116.3
Internal-use software	21.9		(5.5)		16.4
Trademarks	2.0		(1.6)		0.4
Licensed technologies	4.5		(0.5)		4.0
Internal-use software (in-process)	8.6		—		8.6
Total intangible assets	$	512.0	$	(366.3)	$	145.7


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At December 31, 2025
Developed technologies	$	475.9	$	(352.2)	$	123.7
Internal-use software	21.9		(4.3)		17.6
Customer relationships	2.1		(1.6)		0.5
Trademarks	4.5		(0.4)		4.1
Internal-use software (in-process)	7.5		—		7.5
Total intangible assets	$	511.9	$	(358.5)	$	153.4

Schedule of Non-amortizable Intangible Assets

The following tables summarize the amounts reported as intangible assets:


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At March 31, 2026
Developed technologies	$	475.0	$	(358.7)	$	116.3
Internal-use software	21.9		(5.5)		16.4
Trademarks	2.0		(1.6)		0.4
Licensed technologies	4.5		(0.5)		4.0
Internal-use software (in-process)	8.6		—		8.6
Total intangible assets	$	512.0	$	(366.3)	$	145.7


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At December 31, 2025
Developed technologies	$	475.9	$	(352.2)	$	123.7
Internal-use software	21.9		(4.3)		17.6
Customer relationships	2.1		(1.6)		0.5
Trademarks	4.5		(0.4)		4.1
Internal-use software (in-process)	7.5		—		7.5
Total intangible assets	$	511.9	$	(358.5)	$	153.4

Schedule of Recorded Amortization Expense for Intangible Assets

The Company recorded amortization expenses during the respective periods for these intangible assets as follows:


	Three months ended March 31,
(in millions)		2026		2025
Amortization of intangible assets		$	7.9	$	9.4

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	May 01, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	0-26642
Entity Registrant Name	MYRIAD GENETICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0494517
Entity Address, Address Line One	322 North 2200 West
Entity Address, City or Town	Salt Lake City
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84116
City Area Code	801
Local Phone Number	584-3600
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MYGN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		94,448,210
Amendment Flag	false
Entity Central Index Key	0000899923
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Narrative (Details) - $ / shares	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Equity [Abstract]
Preferred stock authorized (shares)	5,000,000.0
Preferred stock, par value (dollars per share)	$ 0.01
Preferred stock outstanding (shares)	0
Common stock authorized (shares)	150,000,000.0
Common stock, par value (dollars per share)	$ 0.01
Common stock issued (shares)	94,400,000	93,500,000	92,200,000	91,300,000
Common stock outstanding (shares)	94,400,000	93,500,000	92,200,000	91,300,000

LONG-TERM DEBT

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

LONG-TERM DEBT

The Company's long-term debt at March 31, 2026 and December 31, 2025 consisted of the following amounts:


(in millions)	March 31, 2026		December 31, 2025
Long-term debt	$	125.0	$	125.0
Accrued exit fee	3.8		3.8
Unamortized debt discount and issuance costs	(8.5)		(8.9)
Total long-term debt, net	$	120.3	$	119.9

On July 31, 2025 (the "Closing Date"), the Company entered into a Credit Agreement (the "Credit Agreement") with the lenders from time to time party thereto, and OrbiMed Royalty & Credit Opportunities IV, LP., as administrative agent (the "Administrative Agent") and as initial lender. The Credit Agreement consists of a $200.0 million term loan credit facility with an initial term loan of $125.0 million (the "Initial Loan"), which amount was funded on the Closing Date, and delayed draw term loans (the "Delayed Draw Loans" and together with the Initial Loan, the "Loans"), at the election of the Company, subject to the timing and terms specified in the Credit Agreement, on or prior to June 30, 2027, in a maximum principal amount of $75.0 million (the "Credit Facility"). The Company incurred debt discounts and issuance costs totaling $9.4 million. These costs are being amortized using the effective interest method. The proceeds of the Credit Facility were used to repay and terminate the Company's previous borrowing, with the remainder designated for working capital needs and general corporate purposes. On January 5, 2026, the Company and the Administrative Agent entered into the First Amendment to Credit Agreement for certain cash management matters.

The Credit Facility matures on July 31, 2030 (the "Maturity Date"). All repayments are subject to the accrued exit fee. The Company may also elect to prepay all or any portion of the amounts owed prior to the Maturity Date subject to a repayment premium, in addition to the exit fee. Loans outstanding under the Credit Facility bear interest at a rate per annum equal to (x) the greater of the one-month Secured Overnight Financing Rate (SOFR) Rate and 2.5% plus (y) an applicable margin of 6.5%. Commencing on September 30, 2029, and on the last business day of each fiscal quarter thereafter, the Company is required to make a scheduled principal payment equal to 2.5% of the unpaid principal amount of the Loans outstanding on the fourth anniversary of the Closing Date, together with any applicable exit fee and repayment premium. Any undrawn portion of the Delayed Draw Loans is subject to a fee of 0.5% per annum, payable each interest period based on the amount that remains undrawn through June 30, 2027. The interest rate for borrowings under the Credit Agreement as of March 31, 2026 and December 31, 2025 were 10.2% and 10.4%, respectively.

The Credit Facility is also subject to customary mandatory prepayments with the proceeds of indebtedness and certain asset sales and casualty events. In addition to the exit fee and repayment premium referenced above, voluntary and mandatory prepayments and all other payments of the Credit Facility must also be accompanied by payment of accrued interest on the principal amount repaid or prepaid. The Credit Facility is also subject to other customary fee arrangements.

The obligations of the Company are guaranteed by certain of the Company’s material subsidiaries (the “Credit Facility Guarantors”) pursuant to a Guarantee. The obligations of the Company and the Credit Facility Guarantors under the Credit Agreement and Guarantee are secured by substantially all of the assets of the Company and the Credit Facility Guarantors under a Pledge and Security Agreement entered into with the Administrative Agent.

The Credit Facility requires the Company and its subsidiaries, on a consolidated basis, to comply with a minimum trailing twelve-month revenue test as of the end of each month, commencing with the month ending December 31, 2025 at $615.0 million and increasing quarterly to $974.0 million beginning on December 31, 2029 and thereafter. In addition, the Credit Facility contains customary representations and warranties and affirmative and negative covenants, including covenants that limit or restrict the Company and its subsidiaries’ ability to incur liens, incur indebtedness, dispose of assets, make investments, make certain restricted payments, merge or consolidate and enter into certain speculative hedging arrangements. The Credit Facility includes a number of customary events of default, including, among other things, nonpayment defaults, covenant defaults, cross-defaults to other material indebtedness, bankruptcy and insolvency defaults, material judgment defaults and the occurrence of a change of control. If any event of default occurs (subject, in certain instances, to specified grace periods), the principal, premium, if any, interest and any other monetary obligations on all the then outstanding amounts under the Credit Facility may become due and payable immediately. The Company was in compliance with all applicable covenants under the Credit Agreement for the three months ended March 31, 2026.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

REVENUE - Narrative (Details)	3 Months Ended
REVENUE - Narrative (Details)	Mar. 31, 2026 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue recognized in prior period	$ 0

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net loss	$ (34.1)	$ (0.1)
Change in foreign currency translation adjustment, net of tax	(0.1)	0.2
Comprehensive income (loss)	$ (34.2)	$ 0.1

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

+ References + Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Intangible Assets [Line Items]
Gross Carrying Amount	$ 512.0	$ 511.9
Accumulated Amortization	(366.3)	(358.5)
Net	145.7	153.4
Developed technologies
Intangible Assets [Line Items]
Gross Carrying Amount	475.0	475.9
Accumulated Amortization	(358.7)	(352.2)
Net	116.3	123.7
Internal-use software
Intangible Assets [Line Items]
Gross Carrying Amount	21.9	21.9
Accumulated Amortization	(5.5)	(4.3)
Net	16.4	17.6
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount		2.1
Accumulated Amortization		(1.6)
Net		0.5
Trademarks
Intangible Assets [Line Items]
Gross Carrying Amount	2.0	4.5
Accumulated Amortization	(1.6)	(0.4)
Net	0.4	4.1
Licensed technologies
Intangible Assets [Line Items]
Gross Carrying Amount	4.5
Accumulated Amortization	(0.5)
Net	4.0
Internal-use software (in-process)
Intangible Assets [Line Items]
Gross Carrying Amount	8.6	7.5
Accumulated Amortization	0.0	0.0
Net	$ 8.6	$ 7.5

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Millions	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit
Beginning balance at Dec. 31, 2024	$ 701.1	$ 0.9	$ 1,457.8	$ (0.8)	$ (756.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax	(5.8)		(5.8)
Stock-based compensation expense	9.5		9.5
Net loss	(0.1)				(0.1)
Other comprehensive income (loss), net of tax	0.2			0.2
Ending balance at Mar. 31, 2025	704.9	0.9	1,461.5	(0.6)	(756.9)
Beginning balance at Dec. 31, 2025	368.0	0.9	1,489.0	0.8	(1,122.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock-based compensation plans, net of shares exchanged for withholding tax	(2.9)		(2.9)
Stock-based compensation expense	6.5		6.5
Net loss	(34.1)				(34.1)
Other comprehensive income (loss), net of tax	(0.1)			(0.1)
Ending balance at Mar. 31, 2026	$ 337.4	$ 0.9	$ 1,492.6	$ 0.7	$ (1,156.8)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2026 are as follows:


(in millions)	Total
Beginning balance	$	51.6
Goodwill impairment	(4.5)
Ending balance	$	47.1

During the three months ended March 31, 2026, the Company experienced a sustained decline in its share price and market capitalization and identified this decline as a triggering event that required an interim goodwill impairment test.

In response to the triggering event, the Company estimated the fair values of each of its reporting units as of March 31, 2026 using both the market approach, applying an observable multiple of revenue based on guideline public companies, and the income approach. The income approach considered projected revenue and profitability of each reporting unit and a discount rate reflective of the risk-adjusted cost of capital of 17% for the Women's Health reporting unit. The Company corroborated the reasonableness of the estimated reporting unit fair values by reconciling the values to the Company's enterprise value and market capitalization, including the consideration of a control premium. Accordingly, this fair value measurement is classified as Level 3 in the fair value hierarchy because it is based primarily upon unobservable inputs that reflect management's assumptions.

As a result of the impairment test, during the three months ended March 31, 2026, the Company recognized a goodwill impairment charge of $4.5 million attributable to the Women's Health reporting unit, reducing the carrying value of goodwill for the reporting unit to its estimated fair value of zero. The goodwill impairment charge is reflected within Goodwill and long-lived asset impairment charges in the Condensed Consolidated Statements of Operations. The Company determined that the goodwill balances for the Mental Health and International reporting units were not impaired. The remaining goodwill value of $47.1 million consists of $29.8 million for the Mental Health reporting unit and $17.3 million for the International reporting unit.

Management will continue to monitor for any additional indicators of impairment in future periods. Goodwill is tested for impairment at least annually and more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired.

Intangible Assets

The following tables summarize the amounts reported as intangible assets:


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At March 31, 2026
Developed technologies	$	475.0	$	(358.7)	$	116.3
Internal-use software	21.9		(5.5)		16.4
Trademarks	2.0		(1.6)		0.4
Licensed technologies	4.5		(0.5)		4.0
Internal-use software (in-process)	8.6		—		8.6
Total intangible assets	$	512.0	$	(366.3)	$	145.7


(in millions)	Gross Carrying Amount		Accumulated Amortization		Net
At December 31, 2025
Developed technologies	$	475.9	$	(352.2)	$	123.7
Internal-use software	21.9		(4.3)		17.6
Customer relationships	2.1		(1.6)		0.5
Trademarks	4.5		(0.4)		4.1
Internal-use software (in-process)	7.5		—		7.5
Total intangible assets	$	511.9	$	(358.5)	$	153.4

The Company recorded amortization expenses during the respective periods for these intangible assets as follows:


	Three months ended March 31,
(in millions)		2026		2025
Amortization of intangible assets		$	7.9	$	9.4

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

On November 30, 2017, the Company’s stockholders approved the adoption of the 2017 Employee, Director and Consultant Equity Incentive Plan (as amended, the “2017 Plan”). The 2017 Plan allows the Company, under the direction of the Compensation and Human Capital Committee (the "CHCC") of the Company's Board of Directors, to make grants of restricted and unrestricted stock and stock unit awards to employees, consultants and directors. Stockholders have subsequently approved amendments to the 2017 Plan increasing the shares available to grant thereunder, including most recently at the Company's annual meeting of stockholders held on June 5, 2025, when stockholders approved an amendment to the 2017 Plan to increase the aggregate number of shares of common stock available thereunder for the granting of awards by an additional 6.5 million shares. As of March 31, 2026, the Company had 1.9 million shares of common stock available for grant under the 2017 Plan. If an RSU awarded under the 2017 Plan is cancelled or forfeited without the issuance of shares of common stock, the unissued shares that were subject to the RSU will again be available for issuance pursuant to the 2017 Plan.

On March 26, 2026, the Company's Board of Directors approved, subject to stockholder approval at the Company's Annual Meeting of Stockholders to be held on June 4, 2026 (the "2026 Annual Meeting"), the adoption of the 2026 Employee, Director and Consultant Equity Incentive Plan (the "2026 Plan"). The 2026 Plan provides for the issuance of up to 6.4 million shares of common stock, plus any shares of common stock that remain available for future grants under the 2017 Plan as of the date of the 2026 Annual Meeting that will be rolled over and become available for issuance under the 2026 Plan, up to an aggregate maximum of approximately 8.6 million shares. The 2026 Plan may also include up to a maximum of approximately 8.7 million shares of common stock that are currently subject to outstanding RSU awards under the 2017 Plan, to the extent such awards are forfeited, expire, or are cancelled without the delivery of shares on or after the date of the 2026 Annual Meeting. Upon stockholder approval of the 2026 Plan, no further awards will be granted under the 2017 Plan.

The number of shares, terms, and vesting periods are generally determined by the Company’s Board of Directors or the CHCC on an award-by-award basis. RSUs granted to employees generally vest either ratably over three or four years or as cliff vesting after three years either on the anniversary of the date on which the RSUs were granted or during the month in which such anniversary dates occur. The number of performance RSUs ("PSUs") awarded to certain employees may be increased or reduced based on certain additional performance and market metrics. RSUs granted to non-employee directors generally vest in full upon the earlier of the completion of one year of service following the date of the grant or the date of the next annual meeting of stockholders following such grant.

Stock Options

A summary of the stock option activity for the three months ended March 31, 2026 is as follows:


(number of shares in millions)	Number of Shares	Weighted Average Exercise Price
Options outstanding at December 31, 2025	0.7	$	13.38




Options outstanding at March 31, 2026	0.7	$	13.38
Options exercisable at March 31, 2026	0.5	$	13.38

As of March 31, 2026, there was no unrecognized stock-based compensation expense associated with the Company's outstanding stock options. There were no options granted during the three months ended March 31, 2026.

Restricted Stock Units

A summary of the RSU awards activity under the Company’s equity plans and inducement awards, including PSU awards, for the three months ended March 31, 2026 is as follows:


(number of shares in millions)	Number of Shares	Weighted Average Grant Date Fair Value
RSUs unvested and outstanding at December 31, 2025	7.1	$	11.27
RSUs granted	3.7	$	4.83
Less:
RSUs vested	(1.6)	$	17.28
RSUs canceled	(0.3)	$	13.20
RSUs unvested and outstanding at March 31, 2026	8.9	$	7.34

Employee Stock Purchase Plan

The Company also has an Employee Stock Purchase Plan that was initially approved by stockholders in 2012 and was amended and approved by the Company's Board of Directors on September 23, 2021 and the stockholders of the Company on June 2, 2022 (the "Amended and Restated 2012 Purchase Plan"), under which 4.0 million shares of common stock were authorized for issuance. On March 12, 2026, the Company's Board of Directors approved an amendment to the Amended and Restated 2012 Purchase Plan that authorizes an additional 4.0 million shares of common stock for issuance thereunder, subject to obtaining stockholder approval. The Company is seeking stockholder approval of the amendment to the Amended and Restated 2012 Purchase Plan at the 2026 Annual Meeting.

As of March 31, 2026, no shares of common stock were available for issuance under the Amended and Restated 2012 Purchase Plan. Shares are issued under the Amended and Restated 2012 Purchase Plan twice yearly at the end of each offering and the number of shares that may be purchased by any participant during an offering period is limited to 5,000 shares. The first offering period of 2026 started on December 1, 2025 and will end on June 11, 2026. The second offering period of 2026 will begin on June 12, 2026 and will end on November 30, 2026. No shares were purchased under the plan in the three months ended March 31, 2026 or 2025. No compensation expense has been recognized in the three months ended March 31, 2026 related to the Amended and Restated 2012 Purchase Plan. Compensation expense was $0.5 million during the three months ended March 31, 2025 related to the Amended and Restated 2012 Purchase Plan.

Stock-Based Compensation Expense

Stock-based compensation expense recognized and included in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) was allocated as follows:


	Three months ended March 31,
(in millions)		2026		2025
Cost of revenue		$	0.2	$	0.3
Research and development expense		1.2		2.1
Sales and marketing expense		0.8		1.5
General and administrative expense		4.3		5.6
Total stock-based compensation expense		$	6.5	$	9.5

As of March 31, 2026, there was $47.0 million of total unrecognized stock-based compensation expense related to RSUs that is expected to be recognized over a weighted-average period of 2.3 years. The Company recognizes forfeitures as they occur. In the event that a PSU is determined to be improbable of vesting, the Company records an adjustment to reverse all previously recognized expense associated with the equity award in the current period.

SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 124.4	$ 149.6	$ 91.8
Restricted cash	1.6		9.2
Total cash, cash equivalents, and restricted cash	$ 126.0	$ 151.3	$ 101.0	$ 111.9

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Cumulative Translation Adjustments in Accumulated Other Comprehensive Income

The following table shows the cumulative translation adjustments included in Accumulated other comprehensive income:


(in millions)
Ending balance December 31, 2025	$	0.8
Period translation adjustments	(0.1)
Ending balance March 31, 2026	$	0.7

LEASES	3 Months Ended
LEASES	Mar. 31, 2026
Leases [Abstract]
LEASES	LEASES The Company leases certain office spaces, research and development laboratory facilities, and office equipment with remaining lease terms ranging from approximately one to thirteen years. Operating leases are included in Operating lease right-of-use assets, Noncurrent operating lease liabilities, and Current maturities of operating lease liabilities in the Condensed Consolidated Balance Sheets. Finance leases are included in Other assets, Accrued liabilities, and Other long-term liabilities in the Condensed Consolidated Balance Sheets. The Company previously amended the lease for its west Salt Lake City headquarters in 2024 to expand the facility in anticipation of future operating needs. During the three months ended March 31, 2026, the Company took possession of the remaining square footage of the west Salt Lake City facility and recognized an additional $2.7 million right-of-use asset and corresponding lease liability, net of tenant improvement allowance not yet received of approximately $6.5 million. Future rent payments associated with the expanded space are approximately $18.2 million.

ACCRUED LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 39.8	$ 51.2
Accrued taxes payable	6.6	5.7
Refunds payable and reserves	19.3	19.9
Accrued royalties	4.7	4.7
Other accrued liabilities	20.1	15.4
Total accrued liabilities	$ 90.5	$ 96.9

PREFERRED AND COMMON STOCKHOLDERS' EQUITY - Schedule of Reconciliation of Denominators of Basic and Diluted Earnings Per Share Computations (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Denominator:
Weighted-average shares outstanding used to compute basic EPS	93.7	91.4
Effect of dilutive shares	0.0	0.0
Weighted-average shares outstanding and dilutive securities used to compute diluted EPS	93.7	91.4

LEASES (Details) - USD ($) $ in Millions	3 Months Ended
LEASES (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 51.0		$ 49.4
Tenant improvement allowance not yet received	6.5	$ 0.0
West Salt Lake City
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	2.7
Operating lease, liability	2.7
Tenant improvement allowance not yet received	6.5
Lease payments due	$ 18.2
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms (in years)	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms (in years)	13 years