Sophia Genetics posts record genomic analyses & growth

SOPHiA GENETICS reported first-quarter revenue of USD $21.7 million, up 22% from a year earlier, and recorded its highest quarterly number of genomic analyses.

It performed about 108,000 analyses on its SOPHiA DDM platform during the quarter, a 16% year-on-year increase. The company reaffirmed full-year revenue guidance of USD $92 million to USD $94 million, implying annual growth of about 20% to 22%.

Growth was led by the US and Asia Pacific, where analysis volumes rose 28% and 31%, respectively. In Europe, the Middle East and Africa, revenue increased 30%.

Customer expansion also supported the result. Net dollar retention rose to 117% from 103% a year earlier, while the number of core genomics customers increased to 537 from 490.

SOPHiA GENETICS signed 18 new core genomics customers during the quarter, which are expected to begin generating revenue over the coming year.

Among the notable commercial developments was an expanded partnership with Mount Sinai Health System in New York. Mount Sinai is adopting SOPHiA DDM for haematology and oncology, as well as solid tumour testing, extending the company's presence in a market where it already works with NYU Langone Health and Memorial Sloan Kettering Cancer Centre.

The group also added hospitals and medical institutions in Europe, the Middle East and Asia. New customers for oncology-related applications included CHU Bordeaux's Haut Lévêque Hospital in France, Maastricht UMC in the Netherlands and Christian Medical College in India.

Application growth

SOPHiA GENETICS also reported rapid adoption of newer tests. Some 100 customers in more than 30 countries have now signed to adopt either its MSK-ACCESS liquid biopsy application or its MSK-IMPACT solid tumour application, less than two years after launch.

Liquid biopsy volumes were a particular source of growth. Nearly 3,000 liquid biopsy analyses were performed in the quarter, more than double the level a year earlier.

New users of the MSK-ACCESS application included Ospedale Niguarda in Milan, Ruhr University Bochum in Germany and King Abdullah International Medical Research Centre in Saudi Arabia, broadening the international use of the company's oncology testing software.

Reported gross margin was 68.0%, compared with 68.7% a year earlier. Adjusted gross margin was 75.4%, versus 75.7% in the prior-year quarter.

IFRS net loss widened 11% year on year to USD $19.3 million. Adjusted EBITDA loss improved slightly to USD $9.2 million.

The company also took steps to reduce costs. In April, it cut headcount and operating spending following what it described as productivity improvements from artificial intelligence tools.

US focus

The quarter highlighted the company's push to build a larger presence in the US hospital and laboratory market, where health systems are seeking to embed genomic testing more deeply into routine clinical practice. It also signed Protean BioDiagnostics, a Florida cancer diagnostics company, for solid tumour testing.

Bio-pharma revenue also grew during the quarter, supported by work on evidence generation, deployment projects and companion diagnostic development. SOPHiA GENETICS described that contribution as modestly supportive of overall growth.

Management said the first quarter reflected continued demand from healthcare providers seeking data control in cloud-based environments, as well as expansion of genomic testing and related applications. The company also pointed to three expansion deals in Europe, the Middle East and Africa, each valued at more than USD $1 million a year.

"We started 2026 strong, delivering 22% year-over-year revenue growth and a record 108,000 genomic analyses on SOPHiA DDMTM," said Jurgi Camblong, Chief Executive Officer and Co-Founder of SOPHiA GENETICS.

"Demand for our platform continues to grow, as U.S. hospitals and laboratories increasingly look to launch Ai-powered precision medicine capabilities, and customers across the globe continue to show strong interest in new applications such as Liquid Biopsy and Enhanced Exomes," Camblong said.

He said new business trends remained positive as the year progressed.

"Looking ahead, new business momentum remains strong. Exciting new applications, continued US expansion, and rising interest from BioPharma provide major catalysts for future growth. Accelerating growth, in combination with our strong gross margin performance and persistent focus on operational excellence, position us well to deliver meaningful operating leverage as the year progresses," Camblong said.