SOPHiA GENETICS (Nasdaq: SOPH) reported first‑quarter 2026 revenue of $21.7 million, a 22% year‑over‑year increase, and a net loss of $19.3 million. The company posted a loss per share of $(0.27), missing the consensus estimate of $(0.23) by $0.04. The quarter also saw a record 108,000 genomic analyses performed on the SOPHiA DDM™ platform, underscoring strong demand for its AI‑driven precision‑medicine solution.
Gross margin for the quarter was 75.4%, slightly below the 75.7% margin recorded in the same period a year earlier. The modest decline reflects higher costs associated with expanding new applications and scaling the platform, while the overall margin level remains robust, indicating the company’s ability to maintain pricing power as it grows its customer base.
Management reaffirmed its full‑year 2026 guidance, maintaining revenue expectations of $92 million to $94 million and an adjusted EBITDA loss of $29 million to $32 million. The unchanged outlook signals confidence that the company’s growth trajectory will continue, even as it remains in a loss‑making phase while investing heavily in new product lines and market expansion.
The company faces several headwinds, including ongoing litigation with Guardant, Swiss franc foreign‑exchange translation pressure, and softness in Latin America. Tailwinds are driven by strong demand in the United States, growing interest in liquid biopsy and enhanced exome applications, and continued expansion into new customer segments, all of which support the company’s revenue growth and platform adoption.
"We started 2026 strong, delivering 22% year‑over‑year revenue growth and a record 108,000 genomic analyses on SOPHiA DDM™," said CEO Jurgi Camblong. "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."
Analysts highlighted the company’s robust revenue growth, record platform usage, and improving net dollar retention as key drivers of positive sentiment. The continued expansion of the U.S. customer base and the growing interest in new applications are seen as catalysts for future growth, reinforcing confidence in the company’s long‑term trajectory.
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