SOPHiA GENETICS SA (SOPH): Financial results for Q3 2026
SOPHiA GENETICS SA (SOPH) furnished an SEC Form 6-K — earnings release. Exhibit 99.3 SOPHiA GENETICS Reports Third Quarter 2026 Results BOSTON, United States and ROLLE, Switzerland, November 3, 2026 — SOPHiA GENETICS (Nasdaq: SOPH), a global leader in AI-driven precision medicine, today reported financial results for the third quarter ended September
How this was made
The 30-second read
Why it matters
The Q3 results provide the first public disclosure of the company's latest financial performance and guidance, offering traders fresh data to assess valuation.
Market read
First‑report earnings with notable revenue growth and guidance reaffirmation give traders actionable insight into the company's trajectory.
What to watch
Potential impact of foreign‑exchange volatility on Q4 revenue and the need for sustained cash flow to achieve profitability.
SOPHiA GENETICS reported Q3 2026 revenue growth of 25%, improved adjusted EBITDA loss by 31%, and expects full-year revenue at the upper end of its $94 million to $96 million range.
Revenue grew 25% year-over-year, analysis volume reached a record 118,000, and adjusted EBITDA loss improved to $6.1 million from $8.8 million. Gross margins declined modestly, IFRS net loss increased 1%, and foreign exchange movements could pressure fourth-quarter revenue.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Q3 2026 revenueother | $24.27M | – | 25 % |
| Q3 2026 constant currency revenuenon-GAAP | $24.43M | – | 26 % |
| Q3 2026 cost of revenueother | −$8.33M | – | – |
| Q3 2026 gross profitother | $15.93M | – | – |
| Q3 2026 gross profit marginother | 65.7 % | – | – |
| Q3 2026 adjusted gross profitnon-GAAP | $17.65M | – | – |
| Q3 2026 adjusted gross profit marginnon-GAAP | 72.8 % | – | – |
| Q3 2026 research and development costsother | −$8.29M | – | – |
| Q3 2026 selling and marketing costsother | −$10.58M | – | – |
| Q3 2026 general and administrative costsother | −$14.88M | – | – |
| Q3 2026 other operating income (expense), netother | — (USD thousands) | – | – |
| Q3 2026 operating lossother | −$17.82M | – | – |
| Q3 2026 interest incomeother | $451K | – | – |
| Q3 2026 interest expenseother | −$1.62M | – | – |
| Q3 2026 fair value adjustments on warrant obligationsother | −$1.14M | – | – |
| Q3 2026 foreign exchange gains (losses), netother | $175K | – | – |
| Q3 2026 loss before income taxesother | −$19.96M | – | – |
| Q3 2026 income tax benefit (expense)other | −$314K | – | – |
| Q3 2026 IFRS loss for the periodother | −$20.27M | – | up 1% year-over-year |
| Q3 2026 basic and diluted loss per shareother | $ (0.24) | – | – |
| Q3 2026 adjusted EBITDAnon-GAAP | −$6.07M | – | improving 31% year-over-year |
| Nine months ended September 30, 2026 revenueother | $69.27M | – | 25 % |
| Nine months ended September 30, 2026 constant currency revenuenon-GAAP | $67.50M | – | 21 % |
| Nine months ended September 30, 2026 gross profitother | $45.74M | – | – |
| Nine months ended September 30, 2026 gross profit marginother | 66.0 % | – | – |
| Nine months ended September 30, 2026 adjusted gross profitnon-GAAP | $50.81M | – | – |
| Nine months ended September 30, 2026 adjusted gross profit marginnon-GAAP | 73.3 % | – | – |
| Nine months ended September 30, 2026 operating lossother | −$55.16M | – | – |
| Nine months ended September 30, 2026 IFRS loss for the periodother | −$61.95M | – | – |
| Nine months ended September 30, 2026 basic and diluted loss per shareother | $ (0.81) | – | – |
| Nine months ended September 30, 2026 adjusted EBITDAnon-GAAP | −$24.11M | – | – |
| Q3 2026 SOPHiA DDM analyses performedother | 118,000 analyses | – | 19% year-over-year volume growth |
| Q3 2026 Net Dollar Retentionother | 118% | – | – |
| Core genomics customers as of September 30, 2026other | 551 core genomics customers | – | – |
| Q3 2026 Liquid Biopsy analysesother | 4,200 Liquid Biopsy analyses | – | 100%+ year-over-year |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Full year 2026 outlook
- Revenueat the upper end of its previously issued guidance range of $94 million to $96 million
- NoteAdjusted EBITDA loss between $29 million and $32 million, compared to $41.5 million in FY 2025
- NotePositive adjusted EBITDA in the second half of 2027
What drove it
- Record 118,000 analyses performed on SOPHiA DDM™, representing 19% year-over-year volume growth.
- North America revenue grew 45% year-over-year and APAC revenue grew 33% year-over-year.
- U.S. revenue grew 41% year-over-year in Q3 2026.
- The company signed 30 new core genomic customers in Q3 2026, expected to begin generating revenue over the next twelve months.
- The company closed three material BioPharma deals, including two companion diagnostic programs and a new multimodal AI project.
- The company signed a notable expansion deal with a leading U.S. military medical center, valued at over $2 million per year.
- Liquid Biopsy analyses were 4,200 in Q3 2026, up 100%+ year-over-year.
Concerns
- Reported gross profit margin was 65.7% versus 66.3% in the prior-year period, while adjusted gross profit margin was 72.8% versus 73.1%.
- IFRS loss for the period was (20,272) (USD thousands), compared with (20,021) (USD thousands) in the prior-year period.
- The company stated that foreign exchange rate movements at the end of the third quarter, if sustained, would be a headwind to fourth-quarter revenue.
- The company reported litigation expenses of 931 (USD thousands) in Q3 2026 and stated that expenses related to its defense of lawsuits filed by Guardant Health are expected to continue for the duration of the litigation and may increase in future periods.
- The company reported restructuring costs of 549 (USD thousands) in Q3 2026.
What to watch
- Whether foreign exchange rate movements remain a headwind to fourth-quarter revenue.
- Conversion of the 30 new core genomic customers signed in Q3 2026 into revenue over the next twelve months.
- Ramp timing for new U.S. accounts, which the company expects to ramp up in 2027.
- Revenue contribution from the AstraZeneca companion diagnostic programs and the new multimodal AI collaboration.
- Progress toward the stated objective of positive adjusted EBITDA in the second half of 2027.
- Sustainability of Net Dollar Retention at 118% and analysis-volume growth.
Balance sheet and cash flow
- Cash and cash equivalents as of September 30, 2026: $ 93,652 (USD thousands); December 31, 2025: $ 70,289 (USD thousands).
- Borrowings as of September 30, 2026: 48,147 (USD thousands); December 31, 2025: 47,733 (USD thousands).
- Nine months ended September 30, 2026 net cash flows used in operating activities: (32,290) (USD thousands); 2025: (27,757) (USD thousands).
- Nine months ended September 30, 2026 net cash flow used in investing activities: (6,934) (USD thousands); 2025: (5,167) (USD thousands).
- Nine months ended September 30, 2026 net cash flow provided by/(used in) financing activities: 65,005 (USD thousands); 2025: 30,562 (USD thousands).
- Nine months ended September 30, 2026 proceeds from sale of common stock in at-the-market offering, net of transaction costs: 15,667 (USD thousands).
- Nine months ended September 30, 2026 proceeds from sale of common stock in follow-on offering, net of transaction costs: 53,451 (USD thousands).
- Nine months ended September 30, 2026 capitalized development costs: (7,132) (USD thousands); 2025: (5,697) (USD thousands).
Analysis
SOPHiA GENETICS delivered Q3 2026 revenue of $ 24,267 (USD thousands), up 25 % from $ 19,462 (USD thousands). Constant currency revenue was $ 24,434 (USD thousands), with growth of 26 %. Operating indicators supported the reported growth: SOPHiA DDM analyses reached a record 118,000, Net Dollar Retention rose to 118% from 108%, and core genomics customers increased to 551 from 488. The company also reported 45% year-over-year revenue growth in NORAM, 33% in APAC, and 41% in the U.S.
Gross profit was $ 15,934 (USD thousands), while reported gross profit margin declined to 65.7 % from 66.3 %. Adjusted gross profit was $ 17,646 (USD thousands), and adjusted gross profit margin was 72.8 % versus 73.1 %. The company recorded an operating loss of (17,824) (USD thousands) and an IFRS loss for the period of (20,272) (USD thousands), compared with (20,021) (USD thousands) a year earlier. In contrast, adjusted EBITDA loss improved to $ (6,071) (USD thousands) from $ (8,838) (USD thousands).
Customer and application expansion remained central to the quarter. The company signed 30 new core genomic customers, completed three material BioPharma deals, and signed a multi-year AstraZeneca agreement for two companion diagnostic programs. Liquid Biopsy analyses were 4,200, up 100%+ year-over-year. The company also cited an expansion deal with a leading U.S. military medical center valued at over $2 million per year.
For the first nine months, revenue was $ 69,265 (USD thousands), up 25 %, while IFRS loss for the period was (61,950) (USD thousands) compared with (59,820) (USD thousands). Adjusted EBITDA loss improved to $ (24,108) (USD thousands) from $ (30,338) (USD thousands). Net cash flows used in operating activities were (32,290) (USD thousands), and capitalized development costs were (7,132) (USD thousands). Cash and cash equivalents were $ 93,652 (USD thousands) at September 30, 2026, with borrowings of 48,147 (USD thousands).
Management expects full-year 2026 revenue at the upper end of its $94 million to $96 million range and adjusted EBITDA loss between $29 million and $32 million. The outlook reflects strong business performance but identifies foreign exchange movements at the end of the third quarter as a potential fourth-quarter revenue headwind if sustained. The company reiterated its commitment to crossing over to positive adjusted EBITDA in the second half of 2027.
Management, verbatim
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.
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.
Ross Muken, Chief Executive Officer of SOPHiA GENETICS
Looking ahead, new geographies, exciting new products, and expanded relationships with BioPharma offer meaningful catalysts for future growth.
Ross Muken, Chief Executive Officer of SOPHiA GENETICS
Not in the filing
stated, not guessed- Prior-quarter comparisons for financial metrics were not provided.
- Revenue by reportable operating segment was not provided.
- Free cash flow was not provided.
- Share repurchases and dividends were not provided.
- Forward gross margin, operating expense, and tax-rate guidance were not provided.
- A prior outlook section was not provided, so reported results cannot be compared with prior guidance.
- Nine-month cost of revenue, operating expense line items, interest items, fair value adjustments, foreign exchange gains or losses, and income tax expense are reported in the filing but no corresponding percentage changes were printed for those rows.
Written by an AI language model 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 checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. 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
The filing is a Form 6‑K earnings release from SOPHiA GENETICS, a Nasdaq‑listed AI genomics company.
Ticker impact
SOPHiA GENETICS reported Q3 2026 results with revenue up 25% YoY and reaffirmed guidance for full‑year revenue at the upper end of the prior range.
potential modest upside as revenue growth exceeds expectations, though loss may limit upside
Strong top‑line growth and better adjusted EBITDA suggest improving fundamentals, yet the company remains loss‑making, leading to a balanced market reaction.
Market effects
Highlights continued growth in AI‑driven precision medicine and genomics services, supporting sector momentum.
Strong U.S. and APAC revenue growth may boost regional biotech sentiment.
Reinforces global interest in AI‑enabled healthcare platforms.
Counterpoint
Despite revenue growth, persistent net losses and FX headwinds could pressure the stock.
Key entities
- companySOPHiA GENETICS SA
AI‑driven precision medicine platform provider listed on Nasdaq (SOPH).
