SOPHiA GENETICS (SOPH) Q2 2026 earnings summary

Executive summary

• Revenue grew 27% year-over-year to $23.3M in Q2 2026, driven by strong U.S. and Liquid Biopsy growth, BioPharma expansion, and a 22% increase in analysis volume.

• U.S. market was a primary growth driver, with 64% revenue and 60% volume growth year-over-year.

• Landed 24 new customers in Q2 and expanded within existing accounts, achieving net dollar retention of 117%.

• Signed major new partnerships, including two companion diagnostic programs with AstraZeneca and a joint venture MoU with Memorial Sloan Kettering.

• Raised $57.5M in an oversubscribed public offering, increasing cash reserves to $107.7M.

Financial highlights

• Q2 2026 revenue was $23.3M, up 27% year-over-year; constant currency revenue growth was 25%.

• Platform analysis volume reached a record 115,000, up 22% year-over-year.

• Gross margin was 64.6% (down from 67% last year); adjusted gross margin was 72.1% (down from 74.4%).

• Adjusted EBITDA loss improved to $8.8M from $12M last year, a 27% improvement.

• Cash and cash equivalents at quarter-end were $107.7M, including $57.5M raised in Q2.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $94M–$96M (22%–24% growth).

• Full-year adjusted EBITDA loss guidance reaffirmed at $29M–$32M, improved from $41.5M in FY 2025.

• Expecting adjusted EBITDA breakeven by end of 2026 and positive adjusted EBITDA in H2 2027.

• CDx deals to impact growth primarily in 2027 and beyond.

• Precision medicine testing rates are increasing globally, with NGS industry CAGR forecasted at 7% from 2025 to 2026.