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SOPHiA GENETICS SA reports news on its AI-driven precision medicine software business and the adoption of the SOPHiA DDM Platform by hospitals, laboratories, and biopharma institutions. Company updates commonly cover financial results, analysis volumes, customer additions, U.S. market expansion, and applications that analyze genomic and multimodal data for cancer and rare disorders.
Recurring developments include health-system collaborations, next-generation sequencing workflows for blood cancers and solid tumors, Liquid Biopsy and Enhanced Exomes applications, and management commentary on platform demand, gross margin, operating leverage, and biopharma activity.
SOPHiA GENETICS, a cloud-native software company, reported Q1 2024 results with a 13% revenue growth to $15.8 million. Gross margins were 65.9% reported and 70.5% adjusted. Operating loss improved by 3% reported and 13% adjusted year-over-year. The company reaffirmed guidance: revenue growth of 25-30%, adjusted gross margin of 72.5-72.7%, and adjusted operating loss of $45-50 million. SOPHiA GENETICS signed debt financing for up to $50 million with Perceptive Advisors to accelerate growth. The company aims to onboard new customers and expand its Liquid Biopsy offering, MSK-ACCESS® powered with SOPHiA DDM™.
SOPHiA GENETICS, a cloud-native software company in data-driven medicine, will present at the 2024 RBC Capital Markets Global Healthcare Conference. Chief Financial Officer and Chief Operating Officer, Ross Muken, will speak on May 14, 2024, in New York City.
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