• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    SOPHiA GENETICS Reports Second Quarter 2024 Results

    8/6/24 6:45:00 AM ET
    $SOPH
    Biotechnology: Biological Products (No Diagnostic Substances)
    Health Care
    Get the next $SOPH alert in real time by email

    Strength in U.S. Growth Offset by Challenges in BioPharma and EMEA; Strong Cost Management Buffers Loss

    BOSTON and ROLLE, Switzerland, Aug. 6, 2024 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for the second quarter ended June 30, 2024.

    SOPHiA GENETICS Logo (PRNewsfoto/SOPHiA GENETICS)

    Second Quarter 2024 Financial Update

    • Revenue was $15.8 million, up 5% year-over-year; Constant currency revenue excluding COVID-19 revenue was $16.0 million, up 7% year-over-year
    • Gross margins were 68.2% on a reported basis and 73.2% on an adjusted basis, up from 66.7% and 70.0% in the prior year period, respectively
    • Operating loss was $15.0 million on a reported basis and $9.9 million on an adjusted basis, representing year-over-year improvements of 25% and 32%, respectively

    2024 Financial Outlook

    • Full-year revenue is now expected to be between $65 million and $67 million, representing growth of 4% to 7% compared to FY 2023
    • Adjusted gross margin is now expected to be between 72.0% to 72.5%, compared to 72.2% in FY 2023
    • Adjusted operating loss guidance remains unchanged and is expected to be between $45M and $50M, compared to $55.9 million in FY 2023

    "We delivered another quarter of strong forward-looking indicators and continued bottom-line improvements in Q2, despite facing macro-related headwinds in BioPharma and EMEA which offset outsized performance in the U.S.," said Jurgi Camblong, PhD., Chief Executive Officer and Co-founder. "We believe the headwinds we are facing are temporary in nature and remain encouraged by positive new business momentum, such as bookings and new customers signed, which will materialize as revenue later this year and into 2025. Despite the headwinds, I'm proud that we delivered a 32% year-over-year improvement to adjusted operating loss during the quarter and that disciplined spending has kept our path to profitability on track."

    Camblong added, "Looking ahead, we remain confident in our long-term growth and in the growth prospects of our end markets. Exciting catalysts such as the continued success of MSK-ACCESS® powered with SOPHiA DDM™, a suite of new applications launching this year, and refreshed momentum in our BioPharma business offer meaningful upside and give us conviction in a medium-term growth recovery."

    Business Highlights

    Expanding usage of SOPHiA DDM™ worldwide

    • Reached 457 core genomics customers as of June 30, 2024, who used SOPHiA DDM™ over the past 12 months to analyze patients with cancer or rare diseases, up from 434 customers at the end of Q2 2023
    • Performed approximately 87,000 analyses on SOPHiA DDM™ in Q2 2024, representing 12% year-over-year analysis volume growth or 14% growth when excluding COVID-related analyses
    • Delivered strong growth in the U.S. and Canada with over 40% year-over-year analysis volume growth in NORAM

    Accelerating adoption of SOPHiA DDM™ by landing new Clinical customers

    • Landed 20 new core genomic customers in Q2 2024 who will implement SOPHiA DDM™ and begin generating revenue over the next twelve months, continuing the positive trend of solid bookings momentum
    • Signed major new customers across geographies including Detroit Medical Center in the U.S. who is adopting SOPHiA DDM™ for Hematology Oncology and the NHS's North Bristol Trust in the U.K. who is adopting both the Homologous Recombination Deficiency ("HRD") application on SOPHiA DDM™ and MSK-ACCESS® powered with SOPHiA DDM™

    Building strong business momentum with new product launches

    • Launched a new SOPHiA DDM™ application for measuring Minimal Residual Disease ("MRD") for Acute Myeloid Leukemia during the quarter
    • Announced a Q4 2024 launch for MSK-IMPACT® powered with SOPHiA DDM™, the decentralized, Solid Tumor profiling counterpart to MSK-ACCESS®; Signed two customers to the application, several months ahead of launch
    • Announced a collaboration with Microsoft and NVIDIA to launch a scalable Whole Genome Sequencing ("WGS") application on SOPHiA DDM™ by the end of the year

    Growing sustainably by maintaining an obsession with operational excellence

    • Remained laser-focused on operational excellence by improving adjusted operating loss 32% year-over-year in Q2 2024
    • Delivered adjusted gross margin of 73.2% as we continue to optimize compute and leverage the scale of the cloud-native SOPHiA DDM™ platform
    • Reaffirmed commitment to achieve adjusted operating profitability within the next 2 years; Current cash and existing capital resources are expected to be sufficient to reach adjusted operating profitability

    Accelerated planned growth initiatives to offset headwinds in BioPharma and EMEA

    • Restructured the BioPharma business by separating Data and Diagnostics offerings; Refocused BioPharma sales efforts to target smaller, more repeatable business in higher volumes to expedite sales cycles
    • Reallocated Clinical sales resources from established EMEA markets to higher-growth markets such as the U.S., the U.K., Germany, and the Middle East; Implemented a more strategic approach to winning key, high-volume accounts, including investments in certain, strategic accounts to displace competition and win market share

    Earnings Call and Webcast Information

    SOPHiA GENETICS will host a conference call and live webcast to discuss the second quarter 2024 results on Tuesday, August 6, 2024, 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 operating loss (non-IFRS measure) to operating loss (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses and intangible assets, share-based compensation expenses, and non-cash portion of pensions paid in excess of actual contributions, 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 operating loss, which the company calculates as operating loss adjusted to exclude amortization of capitalized research and development expenses, amortization of intangible assets, share-based compensation expense, and non-cash portion of pensions expense paid in excess of actual contributions to match the actuarial expense.

    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 amortization of capitalized research and development expenses and intangible assets. 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 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; 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 and Excluding COVID-19-Related 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.

    In addition to constant currency revenue, the company presents constant currency revenue excluding COVID-19-related revenue to further remove the effects of revenues that are derived from sales of COVID-19-related offerings, including a NGS assay for COVID-19 that leverages the SOPHiA DDM™ Platform and related products and solutions analytical capabilities and COVID-19 bundled access products. SOPHiA GENETICS do not believe that these revenues reflect its core business of commercializing its platform because the company's COVID-19 solution was offered to address specific market demand by its customers for analytical capabilities to assist with their testing operations. The company does not anticipate additional development of its COVID-19-related solution as the pandemic transitions into a more endemic phase and as customer demand continues to decline. Further, COVID-19-related revenues did not constitute, and the company does not expect COVID-19-related revenues to constitute in the future, a significant part of its revenue. Accordingly, the company believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating its revenue growth. However, this non-IFRS measure has limitations, including that COVID-19-related revenues contributed to the company's cash position, and other companies may define COVID-19-related revenues differently. 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 a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of SOPHiA DDM™, a platform that analyzes complex genomic and multimodal data and generates real-time, actionable 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 June 30,



    Six months ended June 30,





    2024



    2023



    2024



    2023

    Revenue



    $   15,808



    $   15,054



    $   31,587



    $   29,020

    Cost of revenue



    (5,032)



    (5,007)



    (10,406)



    (9,279)

    Gross profit



    10,776



    10,047



    21,181



    19,741

    Research and development costs



    (7,958)



    (8,891)



    (17,349)



    (18,225)

    Selling and marketing costs



    (7,258)



    (7,203)



    (14,209)



    (13,627)

    General and administrative costs



    (10,583)



    (14,041)



    (23,408)



    (27,283)

    Other operating income, net



    18



    41



    24



    60

    Operating loss



    (15,005)



    (20,047)



    (33,761)



    (39,334)

    Interest income, net



    450



    1,134



    1,208



    1,996

    Fair value adjustments on warrant obligations



    84



    —



    84



    —

    Foreign exchange (losses) gains, net



    (561)



    (2,410)



    4,049



    (3,578)

    Loss before income taxes



    (15,032)



    (21,323)



    (28,420)



    (40,916)

    Income tax expense



    (161)



    (73)



    (477)



    (180)

    Loss for the period



    (15,193)



    (21,396)



    (28,897)



    (41,096)

    Attributable to the owners of the parent



    (15,193)



    (21,396)



    (28,897)



    (41,096)



















    Basic and diluted loss per share



    $     (0.23)



    $     (0.33)



    $     (0.44)



    $     (0.64)

     

    SOPHiA GENETICS SA

    Interim Condensed Consolidated Statements of Comprehensive Loss

    (Amounts in USD thousands)

    (Unaudited)







    Three months ended June 30,



    Six months ended June 30,





    2024



    2023



    2024



    2023

    Loss for the period



    $ (15,193)



    $ (21,396)



    $ (28,897)



    $ (41,096)

    Other comprehensive (loss) income:

















    Items that may be reclassified to statement of loss (net of tax)

















    Currency translation adjustments



    252



    3,680



    (9,139)



    5,651

    Total items that may be reclassified to statement of loss



    252



    3,680



    (9,139)



    5,651

    Items that will not be reclassified to statement of loss (net of tax)

















    Remeasurement of defined benefit plans



    (41)



    (226)



    (58)



    (296)

    Total items that will not be reclassified to statement of loss



    (41)



    (226)



    (58)



    (296)

    Other comprehensive (loss) income for the period



    $       211



    $     3,454



    $   (9,197)



    $     5,355

    Total comprehensive loss for the period



    $ (14,982)



    $ (17,942)



    $ (38,094)



    $ (35,741)

    Attributable to owners of the parent



    $ (14,982)



    $ (17,942)



    $ (38,094)



    $ (35,741)

     

    SOPHiA GENETICS SA

    Interim Condensed Consolidated Balance Sheets

    (Amounts in USD thousands)

     (Unaudited)







    June 30, 2024



    December 31, 2023

    Assets









    Current assets









    Cash and cash equivalents



    $                 105,396



    $                 123,251

    Accounts receivable



    9,924



    13,557

    Inventory



    6,545



    6,482

    Prepaids and other current assets



    3,887



    4,757

    Total current assets



    125,752



    148,047

    Non-current assets









    Property and equipment



    6,134



    7,469

    Intangible assets



    27,428



    27,185

    Right-of-use assets



    14,067



    15,635

    Deferred tax assets



    1,717



    1,720

    Other non-current assets



    5,998



    6,100

    Total non-current assets



    55,344



    58,109

    Total assets



    $                 181,096



    $                 206,156

    Liabilities and equity









    Current liabilities









    Accounts payable



    $                     5,321



    $                     5,391

    Accrued expenses



    12,229



    17,808

    Deferred contract revenue



    7,918



    9,494

    Lease liabilities, current portion



    2,569



    2,928

    Warrant obligations



    572



    —

    Total current liabilities



    28,609



    35,621

    Non-current liabilities









    Borrowings



    13,344



    —

    Lease liabilities, net of current portion



    14,157



    15,673

    Defined benefit pension liabilities



    3,123



    3,086

    Other non-current liabilities



    420



    334

    Total non-current liabilities



    31,044



    19,093

    Total liabilities



    59,653



    54,714

    Equity









    Share capital



    4,048



    4,048

    Share premium



    472,140



    471,846

    Treasury share



    (590)



    (646)

    Other reserves



    52,526



    53,978

    Accumulated deficit



    (406,681)



    (377,784)

    Total equity



    121,443



    151,442

    Total liabilities and equity



    $                 181,096



    $                 206,156

     

    SOPHiA GENETICS SA

    Interim Condensed Consolidated Statements of Cash Flows

    (Amounts in USD thousands)

    (Unaudited)







    Six months ended June 30,





    2024



    2023

    Operating activities









    Loss before tax



    $                  (28,420)



    $                  (40,916)

    Adjustments for non-monetary items









    Depreciation



    2,287



    2,873

    Amortization



    1,809



    1,281

    Finance (income) expense, net



    (5,747)



    1,394

    Interest expense from borrowings



    —



    —

    Fair value adjustments on warrant obligations



    (84)



    —

    Expected credit loss allowance



    (34)



    123

    Share-based compensation



    7,797



    7,106

    Movements in provisions and pensions



    410



    478

    Research tax credit



    (283)



    (600)

    Working capital changes









    Decrease (Increase) in accounts receivable



    3,042



    (834)

    Decrease (increase) in prepaids and other assets



    934



    (1,061)

    Increase in inventory



    (655)



    (268)

    (Decrease) Increase in accounts payables, accrued expenses,

    deferred contract revenue, and other liabilities



    (6,100)



    3,749

    Cash used in operating activities



    (25,044)



    (26,675)

    Income tax paid



    (18)



    (676)

    Interest paid



    (572)



    (5)

    Interest received



    1,795



    2,243

    Net cash flows used in operating activities



    (23,839)



    (25,113)

    Investing activities









    Purchase of property and equipment



    (111)



    (1,246)

    Acquisition of intangible assets



    (167)



    (788)

    Capitalized development costs



    (3,637)



    (2,842)

    Proceeds upon maturity of term deposits



    —



    17,546

    Net cash flow (used in) provided from investing activities



    (3,915)



    12,670

    Financing activities









    Proceeds from exercise of share options



    298



    207

    Proceeds from borrowings, net of transaction costs



    13,930



    —

    Payments of principal portion of lease liabilities



    (1,477)



    (1,761)

    Net cash flow provided from (used in) financing activities



    12,751



    (1,554)

    Decrease in cash and cash equivalents



    (15,003)



    (13,997)

    Effect of exchange differences on cash balances



    (2,852)



    1,244

    Cash and cash equivalents at beginning of the year



    123,251



    161,305

    Cash and cash equivalents at end of the period



    $                 105,396



    $                 148,552

     

    SOPHiA GENETICS SA

    Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth

    and Constant Currency Revenue Growth Excluding COVID-19-Related Revenue

    (Amounts in USD thousands, except for %)

    (Unaudited)







    Three months ended June 30,



    Six months ended June 30,





    2024



    2023



    Growth



    2024



    2023



    Growth

    IFRS revenue



    $   15,808



    $   15,054



    5 %



    $   31,587



    $   29,020



    9 %

    Current period constant currency impact



    179



    —







    (5)



    —





    Constant currency revenue



    $   15,987



    $   15,054



    6 %



    $   31,582



    $   29,020



    9 %

    COVID-19-related revenue



    (4)



    (72)







    (39)



    (197)





    Constant currency impact on COVID-19-related revenue



    —



    —







    1



    —





    Constant currency revenue excluding COVID-19-related revenue



    $   15,983



    $   14,982



    7 %



    $   31,544



    $   28,823



    9 %

     

    SOPHiA GENETICS SA

    Reconciliation of IFRS to Adjusted Gross Profit and Gross Profit Margin

    (Amounts in USD thousands, except percentages)

    (Unaudited)







    Three months ended

    June 30,



    Six months ended

    June 30,





    2024



    2023



    2024



    2023

    Revenue



    $ 15,808



    $ 15,054



    $ 31,587



    $ 29,020

    Cost of revenue



    (5,032)



    (5,007)



    (10,406)



    (9,279)

    Gross profit



    $ 10,776



    $ 10,047



    $ 21,181



    $ 19,741

    Amortization of capitalized research and development expenses(1)



    794



    496



    1,521



    928

    Adjusted gross profit



    $ 11,570



    $ 10,543



    $ 22,702



    $ 20,669



















    Gross profit margin



    68.2 %



    66.7 %



    67.1 %



    68.0 %

    Amortization of capitalized research and development expenses(1)



    5.0 %



    3.3 %



    4.8 %



    3.2 %

    Adjusted gross profit margin



    73.2 %



    70.0 %



    71.9 %



    71.2 %

     

    SOPHiA GENETICS SA

    Reconciliation of IFRS to Adjusted Operating Loss for the Period

    (Amounts in USD thousands)

    (Unaudited)







    Three months ended

    June 30,



    Six months ended

    June 30,





    2024



    2023



    2024



    2023

    Operating loss



    $ (15,005)



    $ (20,047)



    $ (33,761)



    $ (39,334)

    Amortization of capitalized research & development expenses(1)



    794



    496



    1,521



    928

    Amortization of intangible assets(2)



    114



    179



    288



    352

    Share-based compensation expense(3)



    4,084



    4,676



    7,797



    7,106

    Non-cash pension expense(4)



    96



    84



    173



    162

    Adjusted operating loss



    $   (9,917)



    $ (14,612)



    $ (23,982)



    $ (30,786)

     

    SOPHiA GENETICS SA

    Reconciliation of IFRS to Adjusted Operating Loss

    for the fourth quarter and fiscal year 2023

    (Amounts in USD thousands)

    (Unaudited)







    Three months ended



    Year ended





    December 31, 2023

    Operating loss



    $          (18,946)



    $          (74,826)

    Amortization of capitalized research & development expenses (1)



    619



    2,099

    Amortization of intangible assets(2)



    193



    729

    Share-based compensation expense(3)



    4,211



    15,247

    Non-cash pension expense(4)



    (625)



    (394)

    Costs associated with restructuring(5)



    1,232



    1,232

    Adjusted operating loss



    $          (13,316)



    $          (55,913)

     

    Notes to the Reconciliation of IFRS to Adjusted Financial Measures Tables

    (1)

    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.

    (2)

    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.

    (3)

    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.

    (4)

    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.

    (5)

    Costs associated with restructuring 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.

     

     

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/sophia-genetics-reports-second-quarter-2024-results-302214654.html

    SOURCE SOPHiA GENETICS

    Get the next $SOPH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $SOPH

    DatePrice TargetRatingAnalyst
    12/18/2024$11.00Buy
    Craig Hallum
    8/7/2024$10.00 → $5.00Overweight → Equal-Weight
    Morgan Stanley
    6/27/2024$6.00Buy
    Guggenheim
    11/29/2023$8.00Outperform
    RBC Capital Mkts
    7/5/2023$10.00Overweight
    JP Morgan
    1/3/2023$6.00Buy
    BTIG Research
    11/23/2022$2.00Neutral
    Credit Suisse
    2/15/2022$23.00 → $18.00Overweight
    Morgan Stanley
    More analyst ratings

    $SOPH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • SOPHiA GENETICS Reports First Quarter 2025 Results

      BOSTON and ROLLE, Switzerland, May 6, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Results Revenue was $17.8 million, up 13% year-over-year or 15% on a constant currency basisGross margin was 68.7% on a reported basis and 75.7% on an adjusted basis, up from 65.9% and 70.5% in the prior year period, respectivelyIFRS net loss increased 27% year-over-year to $17.4 million (including a net foreign excha

      5/6/25 6:45:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS Announces Expanded Collaboration with AstraZeneca to Accelerate Liquid Biopsy Testing Globally from AACR

      BOSTON and ROLLE, Switzerland, April 28, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native healthcare technology company and global leader in data-driven medicine, today announced the expansion of its ongoing collaboration with AstraZeneca (NASDAQ:AZN) to accelerate the deployment of MSK-ACCESS® powered with SOPHiA DDM™ globally. Building on the initial collaboration announced in October 2024, this new phase will extend the test's reach to a total of 30 clinical institutions worldwide in 2025. Developed in collaboration with Memorial Sloan Kettering Cancer Cen

      4/28/25 12:00:00 PM ET
      $AZN
      $SOPH
      Biotechnology: Pharmaceutical Preparations
      Health Care
      Biotechnology: Biological Products (No Diagnostic Substances)
    • SOPHiA GENETICS to Announce Financial Results for First Quarter 2025 on May 6, 2025

      BOSTON and ROLLE, Switzerland, April 22, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and a leader in data-driven medicine, today announced it will release its financial results for the first quarter 2025 before U.S. markets open on Tuesday, May 6, 2025. On that day, SOPHiA GENETICS will host a conference call to discuss its financial results as well as business outlook beginning at 8:00 a.m. (08:00) EDT / 2:00 p.m. (14:00) CET. The call will be webcast live on the SOPHiA GENETICS Investor Relations Website. Additionally, a replay will be

      4/22/25 8:00:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $SOPH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by SOPHiA GENETICS SA

      SC 13G/A - SOPHiA GENETICS SA (0001840706) (Subject)

      11/13/24 3:31:21 PM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form SC 13G/A filed by SOPHiA GENETICS SA (Amendment)

      SC 13G/A - SOPHiA GENETICS SA (0001840706) (Subject)

      2/20/24 4:55:59 PM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form SC 13G/A filed by SOPHiA GENETICS SA (Amendment)

      SC 13G/A - SOPHiA GENETICS SA (0001840706) (Subject)

      2/14/24 11:23:25 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $SOPH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Craig Hallum initiated coverage on SOPHiA GENETICS SA with a new price target

      Craig Hallum initiated coverage of SOPHiA GENETICS SA with a rating of Buy and set a new price target of $11.00

      12/18/24 7:54:16 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS SA downgraded by Morgan Stanley with a new price target

      Morgan Stanley downgraded SOPHiA GENETICS SA from Overweight to Equal-Weight and set a new price target of $5.00 from $10.00 previously

      8/7/24 11:39:17 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • Guggenheim initiated coverage on SOPHiA GENETICS SA with a new price target

      Guggenheim initiated coverage of SOPHiA GENETICS SA with a rating of Buy and set a new price target of $6.00

      6/27/24 7:51:58 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $SOPH
    Leadership Updates

    Live Leadership Updates

    See more
    • SOPHiA GENETICS Promotes Ross Muken to President and Appoints George Cardoza as Chief Financial Officer

      BOSTON and ROLLE, Switzerland, Nov. 5, 2024 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and leader in data-driven medicine, today announced that Ross Muken, previously Chief Financial Officer ("CFO") and Chief Operating Officer ("COO"), has been promoted to company President, effective November 5, 2024. George Cardoza has been appointed as the company's new CFO. In the newly created role of company President, Ross Muken will oversee SOPHiA GENETICS's global business operations and work even more closely on strategic planning with CEO, Jurgi C

      11/5/24 6:32:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS Launches Global Consortium, SOPHiA UNITY, to Accelerate Cancer Research, Drug Development, and Data-Driven Patient Care

      New collective intelligence network to enable the most advanced research in oncology in support of precision medicine BOSTON and ROLLE, Switzerland, May 30, 2024 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native healthcare technology company and a global leader in data-driven medicine, today announced SOPHiA UNITY, a new data-driven consortium designed to accelerate cancer research globally. SOPHiA UNITY aims to bring together leading healthcare institutions to progress a shared goal of furthering cancer research, advancing drug development and supporting data-driven patient care.

      5/30/24 12:19:00 PM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS Announces Nomination of Lila Tretikov to Board of Directors

      Microsoft's Deputy Chief Technology Officer to be appointed at Annual Shareholders' Meeting BOSTON and LAUSANNE, Switzerland, May 31, 2023 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company in the healthcare space and a leader in data-driven medicine, today announced the nomination of Lila Tretikov to its Board of Directors. The Board of Directors has proposed the appointment of Tretikov as a member of the board at the Annual General Meeting of Shareholders of SOPHiA GENETICS SA on June 26, 2023. An award-winning powerhouse in the global technology

      5/31/23 9:12:00 AM ET
      $SOPH
      $XYL
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
      Fluid Controls
      Industrials

    $SOPH
    Financials

    Live finance-specific insights

    See more
    • SOPHiA GENETICS Reports First Quarter 2025 Results

      BOSTON and ROLLE, Switzerland, May 6, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Financial Results Revenue was $17.8 million, up 13% year-over-year or 15% on a constant currency basisGross margin was 68.7% on a reported basis and 75.7% on an adjusted basis, up from 65.9% and 70.5% in the prior year period, respectivelyIFRS net loss increased 27% year-over-year to $17.4 million (including a net foreign excha

      5/6/25 6:45:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS to Announce Financial Results for First Quarter 2025 on May 6, 2025

      BOSTON and ROLLE, Switzerland, April 22, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and a leader in data-driven medicine, today announced it will release its financial results for the first quarter 2025 before U.S. markets open on Tuesday, May 6, 2025. On that day, SOPHiA GENETICS will host a conference call to discuss its financial results as well as business outlook beginning at 8:00 a.m. (08:00) EDT / 2:00 p.m. (14:00) CET. The call will be webcast live on the SOPHiA GENETICS Investor Relations Website. Additionally, a replay will be

      4/22/25 8:00:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SOPHiA GENETICS Reports Fourth Quarter and Full Year 2024 Results

      BOSTON and ROLLE, Switzerland, March 4, 2025 /PRNewswire/ -- SOPHiA GENETICS (NASDAQ:SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for its fourth quarter and fiscal year ended December 31, 2024. Fourth Quarter 2024 Financial Highlights Revenue was $17.7 million, up 4% year-over-year or 6% on a constant currency basis excluding COVID-19-related revenue Gross margin was 68.2% on a reported basis and 74.2% on an adjusted basis, compared to 69.8% and 73.4% in the prior year period, respectivelyOperating loss was $17.4 m

      3/4/25 6:45:00 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care

    $SOPH
    SEC Filings

    See more
    • SEC Form 144 filed by SOPHiA GENETICS SA

      144 - SOPHiA GENETICS SA (0001840706) (Subject)

      5/19/25 4:21:14 PM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form 6-K filed by SOPHiA GENETICS SA

      6-K - SOPHiA GENETICS SA (0001840706) (Filer)

      5/16/25 9:53:25 AM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care
    • SEC Form 6-K filed by SOPHiA GENETICS SA

      6-K - SOPHiA GENETICS SA (0001840706) (Filer)

      5/8/25 2:23:03 PM ET
      $SOPH
      Biotechnology: Biological Products (No Diagnostic Substances)
      Health Care