SOPHiA GENETICS Reports Second Quarter 2026 Results
BOSTON and ROLLE, Switzerland, Aug. 4, 2026 /PRNewswire/ -- SOPHiA GENETICS (Nasdaq: SOPH), a global leader in AI-driven precision medicine, today reported financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 Financial Highlights
"We delivered an outstanding second quarter, growing revenue 27% year-over-year, while also improving adjusted EBITDA loss by 27%," said Ross Muken, Chief Executive Officer of SOPHiA GENETICS. "Strong revenue performance was driven by 60% volume growth in the U.S., 70% volume growth in Liquid Biopsy, and accelerating growth in BioPharma. BioPharma growth is well-positioned to continue into 2027, as today we announce the signing of two companion diagnostic programs with AstraZeneca, the first ever in SOPHiA GENETICS's history."
Muken added, "As I step into the role of CEO, my focus will be on converting our world-class AI platform, a hard-won global network, and a decade of scientific credibility into accelerating, profitable growth for years to come. To achieve these goals, we strengthened our balance sheet with an oversubscribed $57.5 million public offering in Q2, providing sufficient capital to reach our business objectives and invest in long-term growth."
Business Highlights
Expanding with existing customers
Landing new customers to fuel future growth
Accelerating growth in the U.S. market
Scaling growth with new applications
Developing partnerships to fuel growth
Building BioPharma partnerships
Driving operational excellence
2026 Financial Outlook
Based on information as of today, SOPHiA GENETICS expects:
Earnings Call and Webcast Information
SOPHiA GENETICS will host a conference call and live webcast to discuss the second quarter 2026 results on Tuesday, August 4, 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:
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:
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
June 30,
Six months ended June
30,
2026
2025
2026
2025
Revenue
$ 23,310
$ 18,323
$ 44,998
$ 36,102
Cost of revenue
(8,249)
(6,053)
(15,188)
(11,624)
Gross profit
15,061
12,270
29,810
24,478
Research and development costs
(8,731)
(8,493)
(18,191)
(17,611)
Selling and marketing costs
(11,186)
(10,034)
(19,999)
(17,568)
General and administrative costs
(15,202)
(12,301)
(28,961)
(23,901)
Other operating income, net
5
66
5
74
Operating loss
(20,053)
(18,492)
(37,336)
(34,528)
Interest income
231
419
520
869
Interest expense
(1,620)
(559)
(3,287)
(1,218)
Fair value adjustments on warrant obligations
(317)
58
(409)
20
Foreign exchange losses, net
(519)
(3,078)
(835)
(3,677)
Loss before income taxes
(22,278)
(21,652)
(41,347)
(38,534)
Income tax expense
(78)
(762)
(331)
(1,265)
Loss for the period
(22,356)
(22,414)
(41,678)
(39,799)
Attributable to the owners of the parent
(22,356)
(22,414)
(41,678)
(39,799)
Basic and diluted loss per share
$ (0.30)
$ (0.33)
$ (0.58)
$ (0.59)
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,
2026
2025
2026
2025
Loss for the period
$(22,356)
$(22,414)
$(41,678)
$(39,799)
Other comprehensive (loss) income:
Items that may be reclassified to statement of loss
Currency translation adjustments
(81)
9,016
(611)
11,602
Total items that may be reclassified to statement of loss
(81)
9,016
(611)
11,602
Items that will not be reclassified to statement of loss (net of
tax)
Remeasurement of defined benefit plans
317
46
440
93
Total items that will not be reclassified to statement of loss
317
46
440
93
Other comprehensive (loss) income for the period
$ 236
$ 9,062
$ (171)
$ 11,695
Total comprehensive loss for the period
$(22,120)
$(13,352)
$(41,849)
$(28,104)
Attributable to owners of the parent
$(22,120)
$(13,352)
$(41,849)
$(28,104)
SOPHiA GENETICS SA
Interim Condensed Consolidated Balance Sheets
(Amounts in USD thousands)
(Unaudited)
June 30, 2026
December 31, 2025
Assets
Current assets
Cash and cash equivalents
$ 107,665
$ 70,289
Accounts receivable
14,112
15,001
Inventory
7,084
6,351
Prepaids and other current assets
8,429
7,438
Total current assets
137,290
99,079
Non-current assets
Property and equipment
4,903
5,665
Intangible assets
36,163
35,891
Right-of-use assets
11,039
12,382
Deferred tax assets
1,769
1,831
Other non-current assets
7,195
8,183
Total non-current assets
61,069
63,952
Total assets
$ 198,359
$ 163,031
Liabilities and equity
Current liabilities
Accounts payable
$ 11,904
$ 8,960
Accrued expenses
18,699
20,736
Deferred contract revenue
15,616
16,720
Lease liabilities, current portion
2,720
2,700
Warrant obligations
2,144
1,412
Total current liabilities
51,083
50,528
Non-current liabilities
Borrowings
47,999
47,733
Lease liabilities, net of current portion
11,108
12,587
Defined benefit pension liabilities
3,822
4,162
Other non-current liabilities
1,229
876
Total non-current liabilities
64,158
65,358
Total liabilities
115,241
115,886
Equity
Share capital
4,814
4,814
Share premium
542,657
473,675
Treasury shares
(183)
(1,218)
Other reserves
96,784
89,150
Accumulated deficit
(560,954)
(519,276)
Total equity
83,118
47,145
Total liabilities and equity
$ 198,359
$ 163,031
SOPHiA GENETICS SA
Interim Condensed Consolidated Statements of Cash Flows
(Amounts in USD thousands)
(Unaudited)
Six months ended June 30,
2026
2025
Operating activities
Loss before tax
$ (41,347)
$ (38,534)
Adjustments for non-monetary items
Depreciation
2,159
1,927
Amortization
3,499
2,740
Finance expense, net
3,354
4,037
Fair value adjustments on warrant obligations
409
(20)
Expected credit loss allowance increase (reversal)
40
252
Share-based compensation
7,805
8,191
Movements in provisions and pensions
440
304
Research tax credit
(441)
(528)
Working capital changes
Decrease (increase) in accounts receivable
589
(1,298)
Decrease (increase) in prepaids and other assets
628
934
Decrease (increase) in inventory
(1,123)
362
Increase (decrease) in accounts payables, accrued expenses,
deferred contract revenue, and other liabilities
1,227
2,815
Cash used in operating activities
(22,761)
(18,818)
Income tax paid
(51)
(146)
Net cash flows used in operating activities
(22,812)
(18,964)
Investing activities
Purchase of property and equipment
(1,026)
(130)
Acquisition of intangible assets
—
(87)
Capitalized development costs
(4,541)
(3,250)
Interest received
520
876
Net cash flow used in investing activities
(5,047)
(2,591)
Financing activities
Proceeds from exercise of share options
1,233
115
Interest paid
(2,715)
(1,240)
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
54,048
—
Payments of principal portion of lease liabilities
(1,201)
(889)
Net cash flow provided by/(used in) financing activities
67,032
32,549
Increase (decrease) in cash and cash equivalents
39,173
10,994
Effect of exchange differences on cash balances
(1,797)
3,602
Cash and cash equivalents at beginning of the period
70,289
80,226
Cash and cash equivalents at end of the period
$ 107,665
$ 94,822
SOPHiA GENETICS SA
Reconciliation of IFRS Net Loss to Adjusted EBITDA
(Amounts in USD thousands)
(Unaudited)
Three months ended
June 30,
Six months ended
June 30,
2026
2025
2026
2025
IFRS loss for the period
$ (22,356)
$ (22,414)
$ (41,678)
$ (39,799)
Exclude the impact of:
Depreciation
$ 1,080
$ 942
$ 2,159
$ 1,927
Amortization (3)(4)
1,827
1,428
3,499
2,740
Interest income
(231)
(419)
(520)
(869)
Interest expense
1,620
559
3,287
1,218
Fair value adjustments on warrant obligations
317
(58)
409
(20)
Foreign exchange losses, net
519
3,078
835
3,677
Income tax expense
78
762
331
1,265
Share-based compensation expense (1)
4,492
4,356
7,805
8,191
Social charges related to share-based compensation (7)
1,240
(360)
2,308
(5)
Non-cash pension expense (2)
72
89
163
175
Transaction costs (5)
123
—
291
—
Litigation expenses (6)
1,130
—
1,819
—
Restructuring costs (8)
1,255
—
1,255
—
Adjusted EBITDA
$ (8,834)
$ (12,037)
$ (18,037)
$ (21,500)
SOPHiA GENETICS SA
Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth
(Amounts in USD thousands, except for %)
(Unaudited)
Three months ended June 30,
Six months ended June 30,
2026
2025
Growth
2026
2025
Growth
IFRS revenue
$ 23,310
$ 18,323
27 %
$ 44,998
$ 36,102
25 %
Current period constant currency
impact
(454)
—
(1,936)
—
Constant currency revenue
$ 22,856
$ 18,323
25 %
$ 43,062
$ 36,102
19 %
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,
2026
2025
2026
2025
Revenue
$ 23,310
$ 18,323
$ 44,998
$ 36,102
Cost of revenue
(8,249)
(6,053)
(15,188)
(11,624)
Gross profit
$ 15,061
$ 12,270
$ 29,810
$ 24,478
Amortization of capitalized research and development expenses (3)
1,757
1,357
3,359
2,598
Adjusted gross profit
$ 16,818
$ 13,627
$ 33,169
$ 27,076
Gross profit margin
64.6 %
67.0 %
66.2 %
67.8 %
Amortization of capitalized research and development expenses (3)
7.5 %
7.4 %
7.5 %
7.2 %
Adjusted gross profit margin
72.1 %
74.4 %
73.7 %
75.0 %
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 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.
SOURCE SOPHiA GENETICS