SOPHiA GENETICS SA (SOPH): Financial results for Q2 2026
SOPHiA GENETICS SA (SOPH) furnished an SEC Form 6-K — earnings release. Exhibit 99.3 SOPHiA GENETICS Reports Second Quarter 2026 Results BOSTON, United States and ROLLE, Switzerland, August 4, 2026 — SOPHiA GENETICS (Nasdaq: SOPH), a global leader in AI-driven precision medicine, today reported financial results for the second quarter ended June 30,
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance provide fresh material for traders; the capital raise improves balance sheet strength.
Market read
Earnings surprise and guidance lift are primary catalysts for SOPH's near‑term price action.
What to watch
Potential dilution from the $57.5M offering and reliance on a few large partners.
SOPHiA GENETICS Reports Second Quarter 2026 Results
IFRS revenue grew 27% year-over-year, adjusted EBITDA loss improved 27% year-over-year, and full-year revenue guidance was raised. Reported and adjusted gross margins declined year-over-year, while the company remained loss-making and used cash in operating activities.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenueother | $ 23,310 | – | 27 % |
| Cost of revenueother | $ (8,249) | – | – |
| Gross profitother | $ 15,061 | – | – |
| Gross profit marginother | 64.6 % | – | – |
| Adjusted gross profitnon-GAAP | $ 16,818 | – | – |
| Adjusted gross profit marginnon-GAAP | 72.1 % | – | – |
| Research and development costsother | $ (8,731) | – | – |
| Selling and marketing costsother | $ (11,186) | – | – |
| General and administrative costsother | $ (15,202) | – | – |
| Other operating income, netother | $ 5 | – | – |
| Operating lossother | $ (20,053) | – | – |
| Interest incomeother | $ 231 | – | – |
| Interest expenseother | $ (1,620) | – | – |
| Fair value adjustments on warrant obligationsother | $ (317) | – | – |
| Foreign exchange losses, netother | $ (519) | – | – |
| Loss before income taxesother | $ (22,278) | – | – |
| Income tax expenseother | $ (78) | – | – |
| Loss for the periodother | $ (22,356) | – | flat year-over-year |
| Basic and diluted loss per shareother | $ (0.30) | – | – |
| Adjusted EBITDAnon-GAAP | $ (8,834) | – | improving 27% year-over-year |
| Constant currency revenuenon-GAAP | $ 22,856 | – | 25 % |
| Current period constant currency impactnon-GAAP | $ (454) | – | – |
| Six-month revenueother | $ 44,998 | – | 25 % |
| Six-month gross profitother | $ 29,810 | – | – |
| Six-month gross profit marginother | 66.2 % | – | – |
| Six-month operating lossother | $ (37,336) | – | – |
| Six-month loss for the periodother | $ (41,678) | – | – |
| Six-month basic and diluted loss per shareother | $ (0.58) | – | – |
| Six-month adjusted EBITDAnon-GAAP | $ (18,037) | – | – |
| Six-month net cash flows used in operating activitiesother | $ (22,812) | – | – |
| Six-month net cash flow used in investing activitiesother | $ (5,047) | – | – |
| Six-month net cash flow provided by financing activitiesother | $ 67,032 | – | – |
| Cash and cash equivalentsother | $ 107,665 | – | – |
| Borrowingsother | $ 47,999 | – | – |
| Total assetsother | $ 198,359 | – | – |
| Total liabilitiesother | $ 115,241 | – | – |
| Total equityother | $ 83,118 | – | – |
Full year 2026 outlook
- Revenue$94 million to $96 million
- NoteAdjusted EBITDA loss between $29 million and $32 million
- NoteRevenue growth of approximately 22% to 24% year-over-year
- NoteExpectation of approaching adjusted EBITDA breakeven by the end of 2026
- NoteExpectation of crossing over to positive adjusted EBITDA in the second half of 2027
What drove it
- Performed a record 115,000 analyses on SOPHiA DDM™, representing 22% year-over-year volume growth.
- U.S. revenue grew 64% year-over-year and U.S. volume grew 60% year-over-year in Q2 2026.
- Liquid Biopsy revenue grew 80% year-over-year in Q2 2026, and Liquid Biopsy volume grew 70%.
- Net Dollar Retention increased to 117% in Q2 2026 from 107% in Q2 2025.
- Core genomics customers reached 542 as of June 30, 2026, up from 490 customers a year ago.
- The company signed 24 new core genomic customers in Q2 2026, expected to begin generating revenue over the next twelve months.
- Recently signed projects with AstraZeneca, Kartos, and others began to generate revenue.
- The company signed a multi-year agreement with AstraZeneca to launch two companion diagnostic programs.
Concerns
- Reported gross profit margin was 64.6 %, compared to 67.0 % in the prior-year period.
- Adjusted gross profit margin was 72.1 %, compared to 74.4 % in the prior-year period.
- Operating loss was $ (20,053), compared to $ (18,492) in the prior-year period.
- Interest expense was $ (1,620), compared to $ (559) in the prior-year period.
- Net cash flows used in operating activities were $ (22,812) for the six months ended June 30, 2026.
- The company incurred $ 1,819 of litigation expenses in its six-month adjusted EBITDA reconciliation related to defense of lawsuits filed by Guardant Health.
- The company incurred $ 1,255 of restructuring costs in Q2 2026.
What to watch
- Execution against full-year revenue guidance of $94 million to $96 million.
- Execution against adjusted EBITDA loss guidance of $29 million to $32 million.
- Conversion of 24 newly signed core genomic customers into revenue over the next twelve months.
- Implementation progress among the more than half of the 80 customers across 30+ countries signed to adopt the Liquid Biopsy application that had yet to complete implementation.
- Progress toward approaching adjusted EBITDA breakeven by the end of 2026 and positive adjusted EBITDA in the second half of 2027.
- Development of the envisioned joint venture with Memorial Sloan Kettering Cancer Center and the two AstraZeneca companion diagnostic programs.
Balance sheet and cash flow
- Cash and cash equivalents were $ 107,665 as of June 30, 2026, compared to $ 70,289 as of December 31, 2025.
- Borrowings were $ 47,999 as of June 30, 2026, compared to $ 47,733 as of December 31, 2025.
- Net cash flows used in operating activities were $ (22,812) for the six months ended June 30, 2026, compared to $ (18,964) in the prior-year period.
- Net cash flow used in investing activities was $ (5,047) for the six months ended June 30, 2026, compared to $ (2,591) in the prior-year period.
- Proceeds from sale of common stock in an at-the-market offering, net of transaction costs, were $ 15,667 for the six months ended June 30, 2026.
- Proceeds from sale of common stock in a follow-on offering, net of transaction costs, were $ 54,048 for the six months ended June 30, 2026.
- Net cash flow provided by financing activities was $ 67,032 for the six months ended June 30, 2026, compared to $ 32,549 in the prior-year period.
Analysis
SOPHiA GENETICS reported Q2 2026 IFRS revenue of $ 23,310, up 27 % from $ 18,323 in the prior-year period. Constant currency revenue was $ 22,856, up 25 %. Operating activity expanded, with a record 115,000 SOPHiA DDM™ analyses, 22% year-over-year volume growth, Net Dollar Retention of 117%, and 542 core genomics customers as of June 30, 2026. Management identified 64% U.S. revenue growth, 60% U.S. volume growth, 80% Liquid Biopsy revenue growth, and BioPharma project contributions as growth drivers.
Revenue growth did not translate into higher gross margins. IFRS gross profit margin declined to 64.6 % from 67.0 %, while adjusted gross profit margin declined to 72.1 % from 74.4 %. Operating loss widened to $ (20,053) from $ (18,492), as research and development, selling and marketing, and general and administrative costs were each higher than in the prior-year quarter. The net loss was $ (22,356), compared to $ (22,414), while adjusted EBITDA improved to $ (8,834) from $ (12,037).
The company used $ (22,812) of cash in operating activities and $ (5,047) in investing activities during the six months ended June 30, 2026. Financing activities provided $ 67,032, including $ 15,667 from the at-the-market offering and $ 54,048 from the follow-on offering, net of transaction costs. Cash and cash equivalents ended the period at $ 107,665, compared with $ 70,289 at December 31, 2025, while borrowings were $ 47,999. Management stated that an oversubscribed public offering raised approximately $57.5 million in gross proceeds and expects the company has sufficient capital resources to fund its growth objectives.
Management raised full-year 2026 revenue guidance to $94 million to $96 million from the prior range of $92 million to $94 million, and guided to an adjusted EBITDA loss of $29 million to $32 million, compared to $41.5 million in FY 2025. The company also reiterated its expectation of approaching adjusted EBITDA breakeven by the end of 2026 and crossing over to positive adjusted EBITDA in the second half of 2027. Important execution items include revenue conversion from new core genomic customers, further implementation of Liquid Biopsy customers, BioPharma program growth, and progress on the AstraZeneca companion diagnostic programs and the envisioned MSK joint venture.
Management, verbatim
We delivered an outstanding second quarter, growing revenue 27% year-over-year, while also improving adjusted EBITDA loss by 27%.
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.
Ross Muken, Chief Executive Officer of SOPHiA GENETICS
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.
Ross Muken, Chief Executive Officer of SOPHiA GENETICS
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so no actual-versus-prior-guidance comparison is included.
- Prior-quarter figures and quarter-over-quarter changes for reported metrics were not provided.
- Reportable segment revenue was not provided.
- Free cash flow was not reported.
- Dividends and share repurchases were not reported.
- Forward gross-margin, operating-expense, and tax-rate guidance was not provided.
- GAAP measures were not applicable because the company reports its financial statements under IFRS.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
SOPHiA GENETICS is a Nasdaq-listed AI genomics company reporting its Q2 2026 results via a Form 6‑K filing.
Ticker impact
Q2 2026 earnings release with revenue up 27% YoY and raised FY revenue guidance to $94M-$96M.
Potential upside of 5-10% if market digests the raised guidance.
Revenue beat and guidance raise are fresh primary disclosures; investors often reward such earnings surprises.
Market effects
AI-driven precision medicine sector may see broader interest from biotech investors.
Positive for Swiss and Canadian biotech listings.
Limited to niche genomics investors; not a broad market driver.
Counterpoint
Guidance still modest; cash burn remains high, could pressure the stock if growth slows.
Key entities
- ExecutiveRoss Muken
CEO who highlighted the results and new partnerships.
- PartnerAstraZeneca
Signed multi-year companion diagnostic agreements.
