Myriad Genetics lowered its full-year revenue guidance, as second quarter sales fell due to volume challenges in prenatal health and increased payer friction.

The genetic testing and precision medicine company lowered its fiscal 2026 revenue guidance to between $770 million and $790 million. Analysts polled by FactSet are expecting $863.6 million.

Myriad posted a second-quarter net loss of $43.2 million, or 46 cents a share, compared with a loss of $330.5 million, or $3.57 a share, a year earlier.

Revenue fell 11% to $190.7 million. Analysts polled by FactSet expected $206 million.

The company said it is engaging payers and executing revenue cycle initiatives expected to improve reimbursement predictability and performance.

The stock was down 30% to $3.75 in after-hours trading. The stock closed on Thursday at $5.37.

Chief Executive Sam Raha said the company's second-quarter performance fell below expectations, as solid demand for hereditary cancer and mental health tests were offset by volume challenges in prenatal health and increased payer friction.

He added that the development increased costs associated with its expanded commercial team yielded pressure on the company's bottom line.