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

• Revenue was $23.3 million, up 27% year-over-year
• Gross margin was 64.6% on a reported basis and 72.1% on an adjusted basis, compared to 67.0% reported and 74.4% adjusted in the prior year period
• Net loss was $22.4 million, flat year-over-year; Adjusted EBITDA loss was $8.8 million, improving 27% year-over-year
• The company is raising 2026 revenue guidance to a range of $94 million to $96 million, representing 22% to 24% year-over-year growth. This compares to the prior range of $92 million to $94 million

"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

• Performed a record 115,000 analyses on SOPHiA DDM™, representing 22% year-over-year volume growth
• Delivered strong analysis volume in North America with 60% year-over-year growth in the U.S.
• Expanded our footprint with existing customers as Net Dollar Retention increased to 117% in Q2 2026, up from 107% in Q2 2025
• Reached 542 core genomics customers as of June 30, 2026, up from 490 customers a year ago

Landing new customers to fuel future growth

• Signed 24 new core genomic customers in Q2 2026, which are expected to begin generating revenue over the next twelve months
• Continued to sign premier healthcare institutions across the globe, including Nova Scotia Health Authority for HemOnc; DB Diagnósticos, Brazil's leading laboratory-support network, for Rare Disorders; and IPO Lisboa, the main cancer center for southern Portugal, for Hereditary Cancer

Accelerating growth in the U.S. market

• Delivered 64% year-over-year revenue growth in the U.S. in Q2 2026 and 60% volume growth
• Completed new customer go-lives for Geisinger Health System in Pennsylvania for Pharmacogenomics, University of Illinois at Chicago for HemOnc, and NYU Langone Health for Solid Tumors
• Signed a strategic collaboration with Children's Hospital of Philadelphia (CHOP), the nation's first pediatric hospital and a global leader in pediatric oncology, to develop and launch a next-generation liquid biopsy application specifically designed for pediatric cancers

Scaling growth with new applications

• Delivered 80% year-over-year revenue growth in Liquid Biopsy in Q2 2026
• Reached a total of 80 customers across 30+ countries signed-to-adopt the Liquid Biopsy application MSK-ACCESS^® powered with SOPHiA DDM™, with more than half still yet-to-complete implementation
• Signed major new customers to MSK-ACCESS^® in Q2, including AZ Delta Roeselare, one of the largest hospitals in Belgium; Policlinico Riuniti Hospital at the University of Foggia in Italy; and Sultan Qaboos Cancer Center in Oman
• Signed major new customers to the Solid Tumor application MSK-IMPACT^® powered with SOPHiA DDM™, including Lifera Omics in Saudi Arabia; CHU Lyon Sud of Hospices Civils de Lyon in France; and Bioma Genetics in Brazil

Developing partnerships to fuel growth

• Signed a Memorandum of Understanding (MOU) with Memorial Sloan Kettering Cancer Center (MSK) to establish a joint venture combining MSK's clinical expertise with SOPHiA GENETICS's AI-native platform to accelerate the next generation of precision oncology
• The envisioned joint venture aims to build an 'AI Lab of the Future' with infrastructure to develop and launch new applications, support BioPharma partners, and build new multimodal clinical intelligence tools

Building BioPharma partnerships

• Signed a new, multi-year agreement with AstraZeneca to launch two companion diagnostic (CDx) programs: (1) a decentralized Solid Tumor CDx, and (2) a Hematological Oncology test for patients with blood cancer
• Delivered strong growth from BioPharma partners in Q2 2026 as recently signed projects with AstraZeneca, Kartos, and others begin to generate revenue

Driving operational excellence

• Remained laser-focused on operational excellence and improved adjusted EBITDA loss by 27% year-over-year to $8.8 million
• Executed an oversubscribed public offering that raised approximately $57.5 million in gross proceeds, bringing cash and cash equivalents to $107.7 million at the end of Q2 2026; The company expects it now has sufficient capital resources to fund its growth objectives
• Executed targeted cost actions in Q2, modestly reducing headcount and operating spend as AI-driven productivity improvements enabled us to streamline workflows while maintaining investment in key growth areas
• Reaffirmed commitment to profitable growth and the expectation of approaching adjusted EBITDA breakeven by the end of 2026 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 between $94 million and $96 million, representing approximately 22% to 24% year-over-year growth. This compares to the prior range of $92 million to $94 million
• 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 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:

• 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.

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