SOPHiA GENETICS Reports Third Quarter 2026 Results

Net dollar retention increased to 118% from 108%, while newly signed genomics customers are expected to generate revenue over the next twelve months.

Rhea-AI Summary

SOPHiA GENETICS (Nasdaq: SOPH) reported third-quarter 2026 revenue of $24.3 million, up 25% year over year, alongside a wider net loss. Net loss rose 1% to $20.3 million, while adjusted EBITDA loss narrowed 31% to $6.1 million. Reported gross margin fell to 65.7% from 66.3%; adjusted gross margin declined to 72.8% from 73.1%.

Analysis volume reached 118,000, up 19%, and 30 new core genomics customers signed. A U.S. military medical center expansion agreement is valued at over $2 million annually. New BioPharma agreements include two AstraZeneca companion diagnostic programs and a multimodal AI collaboration. The company expects full-year revenue at the upper end of its $94 million–$96 million range and adjusted EBITDA loss of $29 million–$32 million, versus $41.5 million in 2025. It targets positive adjusted EBITDA in the second half of 2027; sustained quarter-end currency movements would weigh on fourth-quarter revenue.

20 points · 0 major

PositiveiHow this balance works

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0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointQ3 2026 revenue of $24.3 million increased 25% year over year.
• Moderate pointAdjusted EBITDA loss of $6.1 million improved 31% year over year in Q3 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 revenue outlook now targets the upper end of the previously issued $94 million–$96 million range.
• Moderate point. Forward-looking: it has not happened yet and may not happen.2026 adjusted EBITDA loss is expected at $29 million–$32 million, versus $41.5 million in 2025.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Positive adjusted EBITDA remains the company's target for the second half of 2027.
• Moderate point118,000 analyses in Q3 2026 represented record volume and 19% year-over-year growth.
• Moderate pointNet dollar retention, measuring revenue retained and expanded from existing customers, rose to 118% from 108% a year earlier.
• Moderate point551 core genomics customers at September 30, 2026, increased from 488 in the prior-year period.
• Moderate pointU.S. military medical center expansion for rare disorders applications is valued at over $2 million per year.
• Moderate pointAstraZeneca multi-year agreement signed in Q3 covers two companion diagnostic programs for solid tumors and blood cancer.

10 minor points

• Minor point. Forward-looking: it has not happened yet and may not happen.30 new core genomics customers signed in Q3 2026 are expected to generate revenue over the next twelve months.
• Minor pointNorth American revenue grew 45% year over year in Q3 2026.
• Minor pointAsia Pacific revenue grew 33% year over year in Q3 2026.
• Minor pointU.S. revenue grew 41% year over year in Q3 2026.
• Minor point. Forward-looking: it has not happened yet and may not happen.PathGroup and UAMS signed as new U.S. customers; these accounts are expected to ramp up in 2027.
• Minor pointUNC Medical Center partnership expanded to add blood cancer, hereditary cancer and rare disorders applications.
• Minor point4,200 Liquid Biopsy analyses in Q3 2026 represented 100%+ year-over-year growth.
• Minor pointNew application customers signed for MSK-ACCESS and MSK-IMPACT powered with SOPHiA DDM in Q3.
• Minor point. Forward-looking: it has not happened yet and may not happen.New BioPharma AI collaboration aims to identify bladder cancer patients most likely to benefit from a targeted therapy.
• Minor pointBioPharma revenue grew in Q3 2026 as recently signed projects continued generating revenue.

Negative

• Minor pointQ3 2026 net loss of $20.3 million increased 1% year over year.
• Minor pointReported gross margin declined to 65.7% in Q3 2026 from 66.3% a year earlier.
• Minor pointAdjusted gross margin declined to 72.8% in Q3 2026 from 73.1% a year earlier.
• Minor point. Forward-looking: it has not happened yet and may not happen.Quarter-end foreign exchange movements, if sustained, would be a headwind to fourth-quarter 2026 revenue.

News Explained

The company's 2027 profitability goal is specifically positive adjusted EBITDA, not reported IFRS profit: its definition excludes recurring expenses such as share-based compensation, interest, taxes and litigation, and it says the measure should be read alongside IFRS results.

Key Figures

Revenue: $24.3 million; up 25% year-over-year Gross margin: 65.7%; prior-year period was 66.3% Adjusted gross margin: 72.8%; prior-year period was 73.1% +5 more

Revenue

$24.3 million; up 25% year-over-year

Q3 2026, reported basis

Gross margin

65.7%; prior-year period was 66.3%

Q3, reported basis

Adjusted gross margin

72.8%; prior-year period was 73.1%

Q3, adjusted basis

Net loss

$20.3 million; up 1% year-over-year

Q3 2026

Adjusted EBITDA loss

$6.1 million; improved 31% year-over-year

Q3 2026

Revenue outlook

Upper end of $94 million to $96 million

Full-year 2026 guidance

Adjusted EBITDA loss outlook

$29 million to $32 million, compared with $41.5 million

FY 2026 outlook versus FY 2025

Positive adjusted EBITDA target

Second half of 2027

Company reaffirmed its commitment to crossing over to positive adjusted EBITDA

Previous Earnings Reports

2 past events · Latest: Aug 04

Same Type 2 events

1. Aug 04

   Q2 2026 earnings

   24h Move

   +20.2%

   Revenue grew 27%, adjusted EBITDA loss improved 27%, and FY26 revenue guidance rose to $94–$96 million.

2. Nov 04

   Q3 2025 earnings

   24h Move

   -6.4%

   Revenue rose 23% and management raised FY25 revenue guidance, while net and adjusted EBITDA losses increased.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

companion diagnostic, liquid biopsy, ifrs

3 terms

companion diagnostic medical

"launch two companion diagnostic (CDx) programs"

A companion diagnostic is a medical test designed to identify which patients are likely to benefit from a specific drug or medical treatment, much like a key that shows whether a particular lock will open. For investors, these tests matter because they can increase a drug’s chances of approval and market uptake, create a separate revenue stream, and reduce commercial risk by matching treatments to the patients most likely to respond.

liquid biopsy medical

"Performed 4,200 Liquid Biopsy analyses in Q3 2026"

A liquid biopsy is a laboratory test that looks for tiny pieces of tumor or disease-related material — such as DNA, proteins, or cells — circulating in blood or other body fluids, allowing detection and monitoring without a surgical tissue sample. For investors, it matters because these tests can speed diagnosis, guide treatment choices, enable easier repeat testing, and create recurring revenue streams if adopted widely, affecting a medical company's growth and regulatory risk profile.

ifrs financial

"loss for the period (the most comparable IFRS financial measure)"

International Financial Reporting Standards (IFRS) are a set of common accounting rules used by many companies worldwide to prepare financial statements, so numbers like revenue, profit and assets are measured in the same way across borders. For investors, IFRS matters because it makes it easier to compare the financial health and performance of different companies—like using the same ruler to measure different objects—reducing surprises and helping informed investment decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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BOSTON and ROLLE, Switzerland, Nov. 3, 2026 /PRNewswire/ -- SOPHiA GENETICS (Nasdaq: SOPH), a global leader in AI-driven precision medicine, today reported financial results for the third quarter ended September 30, 2026.

Third Quarter 2026 Financial Highlights

• Revenue was $24.3 million, up 25% year-over-year on a reported basis
• Gross margin was 65.7% on a reported basis and 72.8% on an adjusted basis, compared to 66.3% reported and 73.1% adjusted in the prior year period
• Net loss was $20.3 million, up 1% year-over-year; Adjusted EBITDA loss was $6.1 million, improving 31% year-over-year
• The company now expects full-year 2026 revenue to be at the upper end of its previously issued guidance range of $94 million to $96 million, reflecting strong business performance partially offset by the impact of foreign exchange rate movements at the end of the third quarter, which, if sustained, would be a headwind to fourth-quarter revenue.

"Record analysis volume, strong performance in the U.S. market, and accelerating BioPharma momentum resulted in another excellent quarter as revenue grew 25% year-over-year," said Ross Muken, Chief Executive Officer of SOPHiA GENETICS. "We also meaningfully improved adjusted EBITDA by 31%, bringing us closer to profitability and further demonstrating the highly scalable nature of our AI-native platform and business model."

"Looking ahead, new geographies, exciting new products, and expanded relationships with BioPharma offer meaningful catalysts for future growth. We signed 30 new genomics customers in Q3 and closed three material BioPharma deals, including two companion diagnostic programs and a new, multimodal AI project announced today. These partnerships position us well for 2027 and further extend the reach of our clinical intelligence to more patients worldwide." 

Business Highlights

Expanding with existing customers

• Performed a record 118,000 analyses on SOPHiA DDM™, representing 19% year-over-year volume growth
• Delivered strong growth in North America (NORAM) and Asia Pacific (APAC) with 45% and 33% year-over-year revenue growth, respectively
• Expanded our footprint with existing customers as Net Dollar Retention increased to 118% in Q3 2026, up from 108% in Q3 2025
• Reached 551 core genomics customers as of September 30, 2026, up from 488 customers in the prior year period

Landing new customers to fuel future growth

• Signed 30 new core genomic customers in Q3 2026, which are expected to begin generating revenue over the next twelve months
• Continued to sign premier healthcare institutions across the globe, including University of Newcastle, a globally renowned research university in Australia, for Rare Disorders; King Chulalongkorn Memorial Hospital, one of the most prestigious academic medical centers in Thailand, for Solid Tumors and HemOnc; and HBIOMOL, an established diagnostics network in Brazil, for Rare Disorders

Accelerating growth in the U.S. market

• Achieved 41% year-over-year revenue growth in the U.S. in Q3 2026
• Signed two new customers in the U.S., including PathGroup, one of the largest physician-led pathology and clinical laboratory service providers in the U.S., for Solid Tumors and HemOnc, and the University of Arkansas for Medical Sciences (UAMS), Arkansas's only health sciences university and largest public employer, for HemOnc; these accounts are expected to ramp up in 2027
• Expanded our long-standing partnership with the Molecular Diagnostics Laboratory at the University of North Carolina (UNC) Medical Center to adopt HemOnc, Hereditary Cancer, and Rare Disorders applications, in addition to applications they currently run today
• Signed a notable expansion deal with a leading U.S. military medical center, valued at over $2 million per year, for Rare Disorders applications

Scaling growth with new applications

• Performed 4,200 Liquid Biopsy analyses in Q3 2026, up 100%+ year-over-year, as more customers continue to implement the application and ramp usage
• Signed major new customers to MSK-ACCESS^® powered with SOPHiA DDM™ in Q3, including University Hospital Augsburg, one of the largest university hospitals in Germany; Agilus Diagnostics, one of the largest diagnostic laboratory networks in India; and Hanusch Krankenhaus, a leading hospital in Austria
• Signed major new customers to the Solid Tumor application MSK-IMPACT^® powered with SOPHiA DDM™, including AOU Pisana, a leading university hospital in Italy; Géntodos, an emerging genomics company in Mexico; and Ruhr University Bochum, a large academic pathology institute in Germany

Building BioPharma partnerships

• Signed a new multimodal AI collaboration with a top BioPharma company to develop a multimodal AI predictor to help identify which bladder cancer patients are most likely to benefit from a targeted therapy
• Signed a multi-year agreement with AstraZeneca in Q3 to launch two companion diagnostic (CDx) programs: (1) a decentralized Solid Tumor CDx, and (2) a Hematological Oncology test for patients with blood cancer
• Announced additional details on the Solid Tumor CDx, including the incorporation of Myriad Genetics' novel prostate cancer-specific genomic instability score (PrGIS) technology into the Extended Homologous Recombinant Solution (HRS), powered by SOPHiA DDM™
• Delivered strong growth from BioPharma partners in Q3 2026 as recently signed projects continue to generate revenue

Driving operational excellence

• Remained laser-focused on operational excellence and improved adjusted EBITDA loss by 31% year-over-year to $6.1 million
• Reaffirmed commitment to profitable growth and crossing over to positive adjusted EBITDA in the second half of 2027

2026 Financial Outlook

Based on information as of today, SOPHiA GENETICS expects:

• Full year revenue to be at the upper end of its previously issued guidance range of $94 million to $96 million, reflecting strong business performance partially offset by the impact of foreign exchange rate movements at the end of the third quarter, which, if sustained, would be a headwind to fourth-quarter revenue.
• Adjusted EBITDA loss between $29 million and $32 million, compared to $41.5 million in FY 2025

Earnings Call and Webcast Information

SOPHiA GENETICS will host a conference call and live webcast to discuss the third quarter 2026 results on Tuesday, November 3, 2026, at 8:00 a.m. (08:00) Eastern Time / 2:00 p.m. (14:00) Central European Time. The call will be webcast live on the SOPHiA GENETICS Investor Relations website, ir.sophiagenetics.com. Additionally, an audio replay of the conference call will be available on the SOPHiA GENETICS website after its completion.

Non-IFRS Financial Measures

Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking adjusted gross margin (non-IFRS measure) to gross margin (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses that are necessary for such reconciliation. In addition, the Company does not provide a reconciliation of forward-looking adjusted EBITDA (non-IFRS measure) to loss for the period (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying depreciation expense, amortization of capitalized research & development expenses and intangible assets, interest income, interest expense, fair value adjustments on warrants, income taxes, foreign exchange gains or losses, share-based compensation expenses, social charges on share-based compensation, the non-cash portion of pensions paid in excess of actual contributions, certain transaction costs, litigation expenses and restructuring costs that are necessary for such reconciliation.

To provide investors with additional information regarding the company's financial results, SOPHiA GENETICS has disclosed here and elsewhere in this earnings release the following non-IFRS measures:

• Adjusted gross profit, which the company calculates as revenue minus cost of revenue adjusted to exclude amortization of capitalized research and development expenses;
• Adjusted gross profit margin, which the company calculates as adjusted gross profit as a percentage of revenue;
• Adjusted EBITDA, which the company calculates as loss for the period before depreciation, amortization, interest income, interest expense, fair value adjustments on warrant obligations, foreign exchange (losses) gains, net, income tax (expense) benefit, share-based compensation expense, social charges on share-based compensation, non-cash pension expenses, certain transaction costs, litigation expenses and restructuring costs.

These non-IFRS measures are key measures used by SOPHiA GENETICS management and board of directors to evaluate its operating performance and generate future operating plans. The exclusion of certain expenses facilitates operating performance comparability across reporting periods by removing the effect of non-cash expenses and certain variable charges. Accordingly, the company believes that these non-IFRS measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.

These non-IFRS measures have limitations as financial measures, and you should not consider them in isolation or as a substitute for analysis of SOPHiA GENETICS' results as reported under IFRS. Some of these limitations are:

• These non-IFRS measures exclude the impact of depreciation. Although depreciation is a non-cash charge, the assets being depreciated may need to be replaced in the future and these non-IFRS measures do not reflect capital expenditure requirements for such replacements or for new capital expenditures;
• These non-IFRS measures exclude the impact of interest expense. Interest expense will continue to be for the foreseeable future a recurring expense based on the company's financial liabilities;
• These non-IFRS measures exclude the impact of interest income. Interest income will continue to be for the foreseeable future recurring income based on the company's financial assets;
• These non-IFRS measures exclude the impact of income taxes. Income taxes will continue to be for the foreseeable future a recurring expense incurred in the various jurisdictions in which the company operates;
• These non-IFRS measures exclude the impact of foreign exchange gains (losses),net. Foreign exchange gains and losses will continue to be for the foreseeable future a recurring expense incurred as the company participates in transactions outside of the company's functional currency;
• These non-IFRS measures exclude the impact of fair value adjustments of warrant obligations. Fair value adjustments on warrant obligations will continue to be for the foreseeable future a recurring expense incurred as the company has outstanding warrant obligations;
• These non-IFRS measures exclude the impact of amortization of capitalized research and development expenses and intangible assets. Amortization of these assets will continue to be for the foreseeable future a recurring expense incurred as the Company continues to invest in developing revenue-generating products through research and development. Although amortization is a non-cash charge, the assets being amortized may need to be replaced in the future and these non-IFRS measures do not reflect capital expenditure requirements for such replacements or for new capital expenditures;
• These non-IFRS measures exclude the impact of share-based compensation expenses. Share-based compensation has been, and will continue to be for the foreseeable future, a recurring expense in the company's business and an important part of its compensation strategy;
• These non-IFRS measures exclude the impact of social charges related to share-based compensation. These social charges have been, and will continue to be for the foreseeable future, a recurring expense in the company's business;
• These non-IFRS measures exclude the impact of the non-cash portion of pensions paid in excess of actual contributions to match actuarial expenses. Pension expenses have been, and will continue to be for the foreseeable future, a recurring expense in the business;
• These non-IFRS measures exclude the impact of certain capital markets transaction costs. These costs may occur from time to time in the future as needed to complete the transactions;
• These non-IFRS measures exclude the impact of litigation expenses related to the company's defense of lawsuits filed by Guardant Health. These expenses are expected to continue for the duration of the litigation and may increase in future periods;
• These non-IFRS measures exclude the costs associated with restructuring, which consists of compensation paid to employees during their garden leave period, severance, and any other amounts legally owed to the employees resulting from their termination as part of a planned workforce reduction, which we undertook to optimize our operations. Additionally, it includes any legal fees incurred as part of the restructuring process. While such actions are not planned going forward as part of our regular operations, we expect such expenses could still be incurred from time to time based on corporate needs;and
• Other companies, including companies in the company's industry, may calculate these non-IFRS measures differently, which reduces their usefulness as comparative measures.

Because of these limitations, you should consider these non-IFRS measures alongside other financial performance measures, including various cash flow metrics, net income and other IFRS results.

The tables below provide the reconciliation of the most comparable IFRS measures to the non-IFRS measures for the periods presented.

Presentation of Constant Currency Revenue

SOPHiA GENETICS operates internationally, and its revenues are generated primarily in the U.S. dollar, the euro and Swiss franc and, to a lesser extent, British pound, Australian dollar, Brazilian real, Turkish lira and Canadian dollar depending on the company's customers' geographic locations. Changes in revenue include the impact of changes in foreign currency exchange rates. We present the non-IFRS financial measure "constant currency revenue" (or similar terms such as constant currency revenue growth) to show changes in revenue without giving effect to period-to-period currency fluctuations. Under IFRS, revenues received in local (non-U.S. dollar) currencies are translated into U.S. dollars at the average monthly exchange rate for the month in which the transaction occurred. When the company uses the term "constant currency", it means that it has translated local currency revenues for the current reporting period into U.S. dollars using the same average foreign currency exchange rates for the conversion of revenues into U.S. dollars that we used to translate local currency revenues for the comparable reporting period of the prior year. The company then calculates the difference between the IFRS revenue and the constant currency revenue to yield the "constant currency impact" for the current period.

The company's management and board of directors use constant currency revenue growth to evaluate growth and generate future operating plans. The exclusion of the impact of exchange rate fluctuations provides comparability across reporting periods and reflects the effects of customer acquisition efforts and land-and-expand strategy. Accordingly, it believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating revenue growth in the same manner as the management and board of directors. However, this non-IFRS measure has limitations, particularly as the exchange rate effects that are eliminated could constitute a significant element of its revenue and could significantly impact performance and prospects. Because of these limitations, you should consider this non-IFRS measure alongside other financial performance measures, including revenue and revenue growth presented in accordance with IFRS and other IFRS results.

The table below provides the reconciliation of the most comparable IFRS growth measures to the non-IFRS growth measures for the current period.

About SOPHiA GENETICS

SOPHiA GENETICS (Nasdaq: SOPH) is an AI-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of SOPHiA DDM™, an AI platform that analyzes complex genomic and multimodal data to generate real-time, real-world insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding SOPHiA GENETICS future results of operations and financial position, business strategy, products and technology, partnerships and collaborations, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on SOPHiA GENETICS' management's beliefs and assumptions and on information currently available to the company's management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in the company's filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this press release speak only as of its date. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in the company's expectations or any change in events, conditions, or circumstances on which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Loss (Amounts in USD thousands, except per share data) (Unaudited)
		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
Revenue		$    24,267		$    19,462		$    69,265		$    55,564
Cost of revenue		(8,333)		(6,555)		(23,521)		(18,179)
Gross profit		15,934		12,907		45,744		37,385
Research and development costs		(8,295)		(8,067)		(26,486)		(25,678)
Selling and marketing costs		(10,578)		(8,670)		(30,577)		(26,238)
General and administrative costs		(14,885)		(13,889)		(43,846)		(37,790)
Other operating income (expense), net		—		(143)		5		(69)
Operating loss		(17,824)		(17,862)		(55,160)		(52,390)
Interest income		451		622		971		1,491
Interest expense		(1,618)		(1,663)		(4,905)		(2,881)
Fair value adjustments on warrant obligations		(1,142)		(607)		(1,551)		(587)
Foreign exchange gains (losses), net		175		131		(660)		(3,546)
Loss before income taxes		(19,958)		(19,379)		(61,305)		(57,913)
Income tax benefit (expense)		(314)		(642)		(645)		(1,907)
Loss for the period		(20,272)		(20,021)		(61,950)		(59,820)
Attributable to the owners of the parent		(20,272)		(20,021)		(61,950)		(59,820)
Basic and diluted loss per share		$      (0.24)		$      (0.30)		$      (0.81)		$      (0.89)

 

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Comprehensive Loss (Amounts in USD thousands) (Unaudited)
		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
Loss for the period		$(20,272)		$(20,021)		$(61,950)		$(59,820)
Other comprehensive (loss) income:
Items that may be reclassified to statement of loss
Currency translation adjustments		(1,966)		(366)		(2,577)		11,230
Total items that may be reclassified to statement of loss		(1,966)		(366)		(2,577)		11,230
Items that will not be reclassified to statement of loss (net of tax)
Remeasurement of defined benefit plans		2,049		152		2,489		251
Total items that will not be reclassified to statement of loss		2,049		152		2,489		251
Other comprehensive (loss) income for the period		$      83		$   (214)		$     (88)		$ 11,481
Total comprehensive loss for the period		$(20,189)		$(20,235)		$(62,038)		$(48,339)
Attributable to owners of the parent		$(20,189)		$(20,235)		$(62,038)		$(48,339)

 

SOPHiA GENETICS SA Interim Condensed Consolidated Balance Sheets (Amounts in USD thousands)  (Unaudited)
		September 30, 2026		December 31, 2025
Assets
Current assets
Cash and cash equivalents		$                93,652		$                70,289
Accounts receivable		16,731		15,001
Inventory		7,160		6,351
Prepaids and other current assets		8,087		7,438
Total current assets		125,630		99,079
Non-current assets
Property and equipment		4,277		5,665
Intangible assets		35,847		35,891
Right-of-use assets		10,238		12,382
Deferred tax assets		1,642		1,831
Other non-current assets		7,097		8,183
Total non-current assets		59,101		63,952
Total assets		$              184,731		$              163,031
Liabilities and equity
Current liabilities
Accounts payable		$                10,282		$                  8,960
Accrued expenses		22,616		20,736
Deferred contract revenue		16,054		16,720
Lease liabilities, current portion		2,686		2,700
Warrant obligations		3,284		1,412
Total current liabilities		54,922		50,528
Non-current liabilities
Borrowings		48,147		47,733
Lease liabilities, net of current portion		10,207		12,587
Defined benefit pension liabilities		1,747		4,162
Other non-current liabilities		1,281		876
Total non-current liabilities		61,382		65,358
Total liabilities		116,304		115,886
Equity
Share capital		4,814		4,814
Share premium		543,567		473,675
Treasury shares		(151)		(1,218)
Other reserves		101,423		89,150
Accumulated deficit		(581,226)		(519,276)
Total equity		68,427		47,145
Total liabilities and equity		$              184,731		$              163,031

 

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Cash Flows (Amounts in USD thousands) (Unaudited)
		Nine months ended September 30,
		2026		2025
Operating activities
Loss before tax		$               (61,305)		$               (57,913)
Adjustments for non-monetary items
Depreciation		3,209		2,949
Amortization		5,276		4,142
Finance expense, net		5,210		5,009
Fair value adjustments on warrant obligations		1,551		587
Expected credit loss allowance increase (reversal)		114		(7)
Share-based compensation		12,361		12,337
Movements in provisions and pensions		573		492
Research tax credit		(611)		(752)
Gain on disposal of property and equipment		(7)		—
Working capital changes
Decrease (increase) in accounts receivable		(2,353)		31
Decrease (increase) in prepaids and other assets		604		2,060
Decrease (increase) in inventory		(1,505)		(165)
Increase (decrease) in accounts payables, accrued expenses, deferred contract revenue, and other liabilities		4,899		3,678
Cash used in operating activities		(31,984)		(27,552)
Income tax paid		(306)		(205)
Net cash flows used in operating activities		(32,290)		(27,757)
Investing activities
Purchase of property and equipment		(752)		(236)
Acquisition of intangible assets		—		(223)
Capitalized development costs		(7,132)		(5,697)
Purchase of equity investments held at fair value		—		(493)
Interest received		950		1,482
Net cash flow used in investing activities		(6,934)		(5,167)
Financing activities
Proceeds from exercise of share options		2,201		199
Interest paid		(4,489)		(2,805)
Proceeds from borrowings, net of transaction costs		—		34,563
Proceeds from sale of common stock in at-the-market offering, net of transaction costs		15,667		—
Proceeds from sale of common stock in follow-on offering, net of transaction costs		53,451		—
Payments of principal portion of lease liabilities		(1,825)		(1,395)
Net cash flow provided by/(used in) financing activities		65,005		30,562
Increase (decrease) in cash and cash equivalents		25,781		(2,362)
Effect of exchange differences on cash balances		(2,418)		3,746
Cash and cash equivalents at beginning of the period		70,289		80,226
Cash and cash equivalents at end of the period		$                93,652		$                81,610

 

SOPHiA GENETICS SA Reconciliation of IFRS Net Loss to Adjusted EBITDA (Amounts in USD thousands) (Unaudited)
		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
IFRS loss for the period		$  (20,272)		$  (20,021)		$  (61,950)		$  (59,820)
Exclude the impact of:
Depreciation		$     1,050		$     1,022		$     3,209		$     2,949
Amortization(3)(4)		1,777		1,402		5,276		4,142
Interest income		(451)		(622)		(971)		(1,491)
Interest expense		1,618		1,663		4,905		2,881
Fair value adjustments on warrant obligations		1,142		607		1,551		587
Foreign exchange gains (losses), net		(175)		(131)		660		3,546
Income tax expense		314		642		645		1,907
Share-based compensation expense(1)		4,556		4,146		12,361		12,337
Social charges related to share-based compensation(7)		2,804		1,317		5,112		1,312
Non-cash pension expense(2)		86		87		249		262
Transaction costs(5)		—		445		291		445
Litigation expenses(6)		931		605		2,750		605
Restructuring costs(8)		549		—		1,804		—
Adjusted EBITDA		$    (6,071)		$    (8,838)		$  (24,108)		$  (30,338)

 

SOPHiA GENETICS SA Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth (Amounts in USD thousands, except for %) (Unaudited)
		Three months ended September 30,						Nine months ended September 30,
		2026		2025		Growth		2026		2025		Growth
IFRS revenue		$  24,267		$  19,462		25 %		$  69,265		$  55,564		25 %
Current period constant currency impact		167		—				(1,769)		—
Constant currency revenue		$  24,434		$  19,462		26 %		$  67,496		$  55,564		21 %

 

SOPHiA GENETICS SA Reconciliation of IFRS to Adjusted Gross Profit and Gross Profit Margin (Amounts in USD thousands, except percentages) (Unaudited)
		Three months ended September 30,				Nine months ended September 30,
		2026		2025		2026		2025
Revenue		$ 24,267		$ 19,462		$ 69,265		$ 55,564
Cost of revenue		(8,333)		(6,555)		(23,521)		(18,179)
Gross profit		$ 15,934		$ 12,907		$ 45,744		$ 37,385
Amortization of capitalized research and development expenses(3)		1,712		1,329		5,071		3,927
Adjusted gross profit		$ 17,646		$ 14,236		$ 50,815		$ 41,312
Gross profit margin		65.7 %		66.3 %		66.0 %		67.3 %
Amortization of capitalized research and development expenses(3)		7.1 %		6.8 %		7.3 %		7.1 %
Adjusted gross profit margin		72.8 %		73.1 %		73.3 %		74.4 %

 

Notes to the Reconciliation of IFRS to Adjusted Financial Measures Tables
(1)	Share-based compensation expense represents the cost of equity awards issued to our directors, officers, and employees. The fair value of awards is computed at the time the award is granted and is recognized over the vesting period of the award by a charge to the income statement and a corresponding increase in other reserves within equity. These expenses do not have a cash impact but remain a recurring expense for our business and represent an important part of our overall compensation strategy.
(2)	Non-cash pension expense consists of the amount recognized in excess of actual contributions made to our defined pension plans to match actuarial expenses calculated for IFRS purposes. The difference represents a non-cash expense but remains a recurring expense for our business as we continue to make contributions to our plans for the foreseeable future.
(3)	Amortization of capitalized research and development expenses consists of software development costs amortized using the straight-line method over an estimated life of five years. These expenses do not have a cash impact but remain a recurring expense generated over the course of our research and development initiatives.
(4)	Amortization of intangible assets consists of costs related to intangible assets amortized over the course of their useful lives. These expenses do not have a cash impact, but we could continue to generate such expenses through future capital investments.
(5)	Transaction costs consists of expenses incurred in connection with the Company's shelf registration statement and the ATM program.
(6)	Litigation expenses consists of expenses, net of recoveries, related to the company's defense of lawsuits filed by Guardant Health.
(7)	Social charges related to share-based compensation consist of payroll taxes and other social charges on share-based compensation awards. These expenses have been, and will continue to be for the foreseeable future, a recurring expense in the company's business.
(8)	Restructuring costs consists of compensation paid to employees during their garden leave period, severance, and any other amounts legally owed to the employees resulting from their termination as part of a planned workforce reduction. Additionally, it includes legal fees incurred as part of the restructuring process.

 

 

 

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SOURCE SOPHiA GENETICS

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were SOPHiA GENETICS' third-quarter 2026 financial results?

Revenue was $24.3 million, up 25% year over year, while net loss increased 1% to $20.3 million. Adjusted EBITDA loss narrowed 31% to $6.1 million. Reported gross margin was 65.7%, compared with 66.3% in the prior-year period.

What is SOPHiA GENETICS' 2026 outlook?

SOPHiA GENETICS expects revenue at the upper end of its $94 million–$96 million guidance range and adjusted EBITDA loss between $29 million and $32 million. The company also remains committed to reaching positive adjusted EBITDA in the second half of 2027.

How will Myriad Genetics technology be used in SOPHiA GENETICS' solid tumor companion diagnostic program?

Myriad Genetics' prostate cancer-specific genomic instability score technology will be incorporated into the Extended Homologous Recombinant Solution powered by SOPHiA DDM. This is part of the solid tumor companion diagnostic program under the multi-year AstraZeneca agreement.