SOPHiA GENETICS Reports Third Quarter 2026 Results

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.

SOURCE SOPHiA GENETICS