SOPHiA GENETICS Q1 Revenue Up 22% to $21.7M; Adjusted EBITDA Loss Narrows
SOPHiA GENETICS posted 22% year-over-year Q1 revenue growth to $21.7 million and achieved a 75.4% adjusted gross margin, while reducing adjusted EBITDA loss by 3% to $9.2 million. The company performed a record 108,000 genomic analyses (16% growth), grew U.S. volume 28%, and reaffirmed 2026 revenue guidance of $92–$94 million.
1. First Quarter Financial Performance
SOPHiA GENETICS generated $21.7 million in revenue for Q1 2026, representing 22% year-over-year growth. Reported gross margin was 68.0%, while adjusted gross margin reached 75.4%. IFRS net loss widened 11% to $19.3 million, and adjusted EBITDA loss improved 3% to $9.2 million.
2. Volume and Customer Expansion
The platform processed a record 108,000 genomic analyses in Q1, up 16% year-over-year, with U.S. volume rising 28% and Asia Pacific up 31%. Net dollar retention climbed to 117%, and core genomics customer count increased to 537, including 18 new clients contracted this quarter.
3. New Application and Partnership Growth
Adoption of the Liquid Biopsy application reached 100 customers across 30+ countries, driving over 3,000 analyses (100%+ growth). Major new partnerships include Mount Sinai Health System and Protean BioDiagnostics in the U.S., plus EMEA expansion deals each exceeding $1 million annually.
4. Full-Year Guidance and Profitability Outlook
The company reaffirmed full-year revenue guidance of $92–$94 million (20%–22% growth) and projected adjusted EBITDA loss between $29 million and $32 million. Targeted cost actions in April aim to support an adjusted EBITDA breakeven by year-end 2026 and positive adjusted EBITDA in second-half 2027.