SOPHiA Genetics Q3 Revenue Rises 25% on Record Analysis Volume

SOPHiA GENETICS (SOPH) reported 25% year-over-year revenue growth for the third quarter of 2026, supported by record analysis volume, U.S. expansion and increased use of its liquid-biopsy applications. The healthcare data company also narrowed its adjusted EBITDA loss, although its IFRS net loss remained broadly unchanged from a year earlier.

Third-quarter IFRS revenue reached $24.3 million, up from $19.5 million in the same period of 2025. On a constant-currency basis, revenue increased 26% to $24.4 million. The company processed a record 118,000 analyses during the quarter, representing 19% year-over-year growth.

Adjusted EBITDA was a loss of $6.1 million, compared with an $8.8 million loss a year earlier, a 31% reduction. The IFRS operating loss was $17.8 million, largely unchanged in absolute terms from the prior-year period, while the operating margin improved to negative 73.4% from negative 91.8% as revenue increased.

The IFRS net loss was $20.3 million, compared with $20.0 million in the third quarter of 2025. Adjustments used to calculate EBITDA included $4.6 million of share-based compensation, $2.8 million of related social charges, $1.8 million of amortization, $931,000 of litigation expenses and $549,000 of restructuring costs.

IFRS gross profit rose to $15.9 million from $12.9 million, while the reported gross margin was 65.7%, compared with 66.3% a year earlier. Adjusted gross profit increased to $17.6 million from $14.2 million, with the adjusted gross margin edging down to 72.8% from 73.1%. The adjusted measure excludes amortization of capitalized research and development expenses.

Customer Expansion and Application Growth

SOPHiA GENETICS signed 30 new core genomics customers during the quarter and had 551 core genomics customers on its platform, 63 more than a year earlier. Net dollar retention reached 118%, while annualized revenue churn remained below 1%, indicating that growth continued to come from both customer additions and expanded usage by existing institutions.

The company said U.S. revenue grew 41% year over year in the quarter. New U.S. customers included PathGroup and the University of Arkansas for Medical Sciences, while SOPHiA expanded its relationship with the Molecular Diagnostics Laboratory at the University of North Carolina Medical Center.

Liquid biopsy was another major contributor, producing more than 100% year-over-year revenue growth as customers implemented the application and increased usage. More than 100 customers have signed for the company’s newer MSK-ACCESS and MSK-IMPACT liquid-biopsy and solid-tumor applications powered by its SOPHiA DDM platform.

The platform’s business model is largely tied to analysis volume and the price per analysis, which ranges from $100 to $500 depending on application complexity. Genomics accounted for more than 90% of annual revenue in 2025. SOPHiA DDM connects more than 1,000 institutions across 75 countries, and the company said the platform analyzed more than 391,000 patients in 2025.

BioPharma Partnerships and Operating Priorities

BioPharma projects also generated growth during the quarter as recently signed programs began contributing revenue. SOPHiA entered a multimodal artificial-intelligence collaboration with a large BioPharma company to develop a predictor for bladder cancer. It also signed a multi-year agreement with AstraZeneca covering two companion-diagnostic programs: a decentralized solid-tumor program and a hematology-oncology test for patients with blood cancer.

Management identified continued U.S. expansion, broader adoption of liquid-biopsy and solid-tumor applications, and increased use of the company’s data and AI capabilities by BioPharma customers as its principal 2026 growth drivers. The presentation did not provide quantified forward revenue or earnings guidance.

SOPHiA GENETICS had $94 million in cash and cash equivalents as of September 30, 2026. That balance included $57.5 million in gross proceeds raised through a public offering at the end of the second quarter.

The company cautioned that its forward-looking plans remain subject to operational, financial and regulatory uncertainties. It also noted that many of its products are for research use only unless otherwise specified and that product availability and regulatory clearance can differ by country. Currency movements remain relevant because revenue is generated in several currencies, while ongoing litigation, restructuring expenses and recurring costs related to share-based compensation may continue to affect reported results.