SOPHiA GENETICS Reports Fourth Quarter and Full Year 2024 Results
PR Newswire
BOSTON and ROLLE, Switzerland, March 4, 2025
BOSTON and ROLLE, Switzerland, March 4, 2025 /PRNewswire/ -- SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company and leader in data-driven medicine, today reported financial results for its fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights
-- Revenue was $17.7 million, up 4% year-over-year or 6% on a constant
currency basis excluding COVID-19-related revenue
-- Gross margin was 68.2% on a reported basis and 74.2% on an adjusted basis,
compared to 69.8% and 73.4% in the prior year period, respectively
-- Operating loss was $17.4 million on a reported basis and $10.2 million on
an adjusted basis, representing year-over-year improvements of 8% and 23%,
respectively
Full Year 2024 Financial Highlights
-- Revenue was $65.2 million, up 4% year-over-year or 5% on a constant
currency basis excluding COVID-19-related revenue
-- Gross margin was 67.4% on a reported basis and 72.8% on an adjusted basis,
compared to 68.8% and 72.2% in the prior year period, respectively
-- Operating loss was $66.6 million on a reported basis and $44.8 million on
an adjusted basis, representing year-over-year improvements of 11% and
20%, respectively
"We continued driving widespread adoption of SOPHiA DDM$(TM)$ in 2024, achieving a record number of analyses, major new customers wins, and healthy volume growth during the year, despite BioPharma headwinds which impacted overall performance and resulted in softer revenue growth than we would have liked," said Jurgi Camblong, PhD., Chief Executive Officer and Co-founder. "We also refueled the Company's growth engine in 2024 by launching an exciting suite of new products and signing a record number of new customers, all while making meaningful improvements to both operating expenses and gross margin."
Camblong added, "Looking forward to 2025, we are well positioned to reaccelerate growth. Catalysts for the year include the new Liquid Biopsy application MSK-ACCESS$(R)$ powered with SOPHiA DDM(TM) which has already attracted 34 customers since its launch in Q2, exciting opportunities in the U.S., and an impressive base of 92 new customers to onboard and expand over the course of the year."
Business Highlights
Expanding usage of SOPHiA DDM(TM) worldwide
-- Performed a record 352,000 analyses in FY 2024, representing 11%
year-over-year volume growth, or 13% when excluding COVID-related volumes
-- Delivered strong analysis volume growth in FY 2024 in NORAM and APAC with
33% and 40% year-over-year growth, respectively
-- Reached 472 core genomics customers as of December 31, 2024, who use
SOPHiA DDM(TM) regularly to analyze cases of cancer and rare disease, up
from 450 customers at the end of Q4 2023
-- Completed implementation for a record 35 new customers during Q4, up from
an average of 19 new customers per quarter for the rest of 2024
Landing new Clinical customers to fuel future platform growth
-- Signed a record 92 new customers in FY 2024, including 31 new customers
in Q4 2024, who will implement SOPHiA DDM(TM) and begin generating
revenue over the next twelve months
-- Recently signed major new customers across geographies including M42 in
the United Arab Emirates who is adopting MSK-ACCESS(R) powered with
SOPHiA DDM(TM), Fundación Jiménez Díaz in Spain who is
adopting MSK-ACCESS(R) and MSK-IMPACT(R) powered with SOPHiA DDM(TM), and
Mount Sinai in the United States who is adopting HemOnc and Solid Tumor
applications
-- Entered into a collaboration with Genesis Healthcare Co., Japan's leading
private genetic testing research company, to accelerate access to genomic
testing, data, and AI analytics for the Japanese population and support
BioPharma companies with advanced research and market access
Accelerating platform adoption with new applications
-- Signed a total of 34 new customers to the Liquid Biopsy application
MSK-ACCESS(R) powered with SOPHiA DDM(TM) since its launch in Q2 2024
-- Completed implementation for a total of 15 MSK-ACCESS(R) customers who
will ramp up usage of the application over the course of 2025
-- Signed a total of 7 customers to MSK-IMPACT(R) powered with SOPHiA
DDM(TM) since the Solid Tumor application's launch in October 2024
-- Continued to drive significant demand for MSK-ACCESS(R) and
MSK-IMPACT(R) as the pipeline of ongoing discussions reached more than 60
identified opportunities going into 2025
Continued driving strong business momentum in the U.S. market
-- Delivered 23% year-over-year Clinical revenue growth in the U.S. in FY
2024, making the country one of the Company's largest and fastest growing
markets going into 2025
-- Recently signed Mount Sinai, one of the leading hospital systems in the
world based in New York City, who is adopting HemOnc and Solid Tumor
applications
-- Expanded our partnership with Mayo Clinic as the top-ranked hospital now
plans to adopt additional HemOnc applications
Growing sustainably by maintaining an obsession with operational excellence
-- Remained laser-focused on operational excellence and improved adjusted
operating loss by 23% year-over-year in Q4 2024 and 20% year-over-year in
FY 2024, while also strengthening commercial teams and maintaining
investments in high impact R&D
-- Expanded adjusted gross margin by 80bps year-over-year to 74.2% in Q4
2024 with ongoing, continuous improvements to data processing, compute,
and storage costs
-- The Company remains committed to profitable growth and expects to be
approaching adjusted EBITDA breakeven by the end of 2026 and crossing
over to positive adjusted EBITDA in the second half of 2027
2025 Financial Outlook
Based on information as of today, SOPHiA GENETICS is providing the following guidance:
-- Full-year revenue between $72 million and $76 million, representing
growth of approximately 10% to 17% compared to FY 2024
-- Adjusted EBITDA loss between $35 million and $39 million, compared to
$40.2 million in FY 2024
Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking adjusted gross margin (non-IFRS measure) to gross margin (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses that are necessary for such reconciliation. In addition, the Company does not provide a reconciliation of forward-looking adjusted operating loss (non-IFRS measure) to operating loss (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying amortization of capitalized research & development expenses and intangible assets, share-based compensation expenses, and non-cash portion of pensions paid in excess of actual contributions, that are necessary for such reconciliation. The Company does not provide reconciliation of forward-looking adjusted EBITDA (non-IFRS measure) to net loss (the most comparable IFRS measure) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including income tax, depreciation, amortization, fair value adjustments on warrant obligations, and foreign exchange gain (losses), net. Therefore, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to calculate projected net loss at this time.
Earnings Call and Webcast Information
SOPHiA GENETICS will host a conference call and live webcast to discuss the fourth quarter and full year 2024 results, and financial guidance for the full year 2025 on Tuesday, March 4, 2025, at 8:00 a.m. (08:00) Eastern Time / 2:00 p.m. (14:00) Central European Time. The call will be webcast live on the SOPHiA GENETICS Investor Relations website, ir.sophiagenetics.com. Additionally, an audio replay of the conference call will be available on the SOPHiA GENETICS website after its completion.
Non-IFRS Financial Measures
To provide investors with additional information regarding the company's financial results, SOPHiA GENETICS has disclosed here and elsewhere in this earnings release the following non-IFRS measures:
-- Adjusted gross profit, which the company calculates as revenue minus cost
of revenue adjusted to exclude amortization of capitalized research and
development expenses;
-- Adjusted gross profit margin, which the company calculates as adjusted
gross profit as a percentage of revenue;
-- Adjusted operating loss, which the company calculates as operating loss
adjusted to exclude amortization of capitalized research and development
expenses, amortization of intangible assets, share-based compensation
expense, non-cash portion of pensions expense paid in excess of actual
contributions to match the actuarial expense, and costs associated with
corporate restructuring;
-- EBITDA, which the company calculates as loss for the year before
depreciation, amortization, interest income, interest expense, fair value
adjustments on warrant obligations, foreign exchange (losses) gains, net,
and income tax (expense) benefit; and
-- Adjusted EBITDA, which the company calculates as EBITDA adjusted to
exclude share-based compensation expense, non-cash pension expenses, and
costs associated with restructuring.
These non-IFRS measures are key measures used by SOPHiA GENETICS management and board of directors to evaluate its operating performance and generate future operating plans. The exclusion of certain expenses facilitates operating performance comparability across reporting periods by removing the effect of non-cash expenses and certain variable charges. Accordingly, the company believes that these non-IFRS measures provide useful information to investors and others in understanding and evaluating its operating results in the same manner as its management and board of directors.
These non-IFRS measures have limitations as financial measures, and you should not consider them in isolation or as a substitute for analysis of SOPHiA GENETICS' results as reported under IFRS. Some of these limitations are:
-- These non-IFRS measures exclude the impact of depreciation. Although
depreciation is a non-cash charge, the assets being depreciated may need
to be replaced in the future and these non-IFRS measures do not reflect
capital expenditure requirements for such replacements or for new capital
expenditures;
-- These non-IFRS measures exclude the impact of interest expense. Interest
expense will continue to be for the foreseeable future a recurring
expense based on the company's financial liabilities;
-- These non-IFRS measures exclude the impact of interest income. Interest
income will continue to be for the foreseeable future recurring income
based on the company's financial assets;
-- These non-IFRS measures exclude the impact of income taxes. Income taxes
will continue to be for the foreseeable future a recurring expense
incurred in the various jurisdictions in which the company operates;
-- These non-IFRS measures exclude the impact of foreign exchange gains
(losses),net. Foreign exchange gains and losses will continue to be for
the foreseeable future a recurring expense incurred as the company
participates in transactions outside of the company's functional
currency;
-- These non-IFRS measures exclude the impact of fair value adjustments of
warrant obligations. Fair value adjustments on warrant obligations will
continue to be for the foreseeable future a recurring expense incurred as
the company has outstanding warrant obligations;
-- These non-IFRS measures exclude the impact of amortization of capitalized
research and development expenses and intangible assets. Although
amortization is a non-cash charge, the assets being amortized may need to
be replaced in the future and these non-IFRS measures do not reflect
capital expenditure requirements for such replacements or for new capital
expenditures;
-- These non-IFRS measures exclude the impact of share-based compensation
expenses. Share-based compensation has been, and will continue to be for
the foreseeable future, a recurring expense in the company's business and
an important part of its compensation strategy;
-- These non-IFRS measures exclude the impact of the non-cash portion of
pensions paid in excess of actual contributions to match actuarial
expenses. Pension expenses have been, and will continue to be for the
foreseeable future, a recurring expense in the business;
-- These non-IFRS measures exclude the impact of costs associated with
corporate restructuring, which we may incur from time to time; and
-- Other companies, including companies in the company's industry, may
calculate these non-IFRS measures differently, which reduces their
usefulness as comparative measures.
Because of these limitations, you should consider these non-IFRS measures alongside other financial performance measures, including various cash flow metrics, net income and other IFRS results.
The tables below provide the reconciliation of the most comparable IFRS measures to the non-IFRS measures for the periods presented.
Presentation of Constant Currency Revenue and Excluding COVID-19-Related Revenue
SOPHiA GENETICS operates internationally, and its revenues are generated primarily in the U.S. dollar, the euro and Swiss franc and, to a lesser extent, British pound, Australian dollar, Brazilian real, Turkish lira and Canadian dollar depending on the company's customers' geographic locations. Changes in revenue include the impact of changes in foreign currency exchange rates. We present the non-IFRS financial measure "constant currency revenue" (or similar terms such as constant currency revenue growth) to show changes in revenue without giving effect to period-to-period currency fluctuations. Under IFRS, revenues recorded in local (non-U.S. dollar) currencies are translated into U.S. dollars at the average monthly exchange rate for the month in which the transaction occurred. When the company uses the term "constant currency", it means that it has translated local currency revenues for the current reporting period into U.S. dollars using the same average foreign currency exchange rates for the conversion of revenues into U.S. dollars that we used to translate local currency revenues for the comparable reporting period of the prior year. The company then calculates the difference between the IFRS revenue and the constant currency revenue to yield the "constant currency impact" for the current period.
The company's management and board of directors use constant currency revenue growth to evaluate growth and generate future operating plans. The exclusion of the impact of exchange rate fluctuations provides comparability across reporting periods and reflects the effects of customer acquisition efforts and land-and-expand strategy. Accordingly, it believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating revenue growth in the same manner as the management and board of directors. However, this non-IFRS measure has limitations, particularly as the exchange rate effects that are eliminated could constitute a significant element of its revenue and could significantly impact performance and prospects. Because of these limitations, you should consider this non-IFRS measure alongside other financial performance measures, including revenue and revenue growth presented in accordance with IFRS and other IFRS results.
In addition to constant currency revenue, the company presents constant currency revenue excluding COVID-19-related revenue to further remove the effects of revenues that are derived from sales of COVID-19-related offerings, including a NGS assay for COVID-19 that leverages the SOPHiA DDM(TM) Platform and related products and solutions analytical capabilities and COVID-19 bundled access products. SOPHiA GENETICS do not believe that these revenues reflect its core business of commercializing its platform because the company's COVID-19 solution was offered to address specific market demand by its customers for analytical capabilities to assist with their testing operations. The company does not anticipate additional development of its COVID-19-related solution as the pandemic transitions into a more endemic phase and as customer demand continues to decline. Further, COVID-19-related revenues did not constitute, and the company does not expect COVID-19-related revenues to constitute in the future, a significant part of its revenue. Accordingly, the company believes that this non-IFRS measure provides useful information to investors and others in understanding and evaluating its revenue growth. However, this non-IFRS measure has limitations, including that COVID-19-related revenues contributed to the company's cash position, and other companies may define COVID-19-related revenues differently. Because of these limitations, you should consider this non-IFRS measure alongside other financial performance measures, including revenue and revenue growth presented in accordance with IFRS and other IFRS results.
The table below provides the reconciliation of the most comparable IFRS growth measures to the non-IFRS growth measures for the current period.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native healthcare technology company on a mission to expand access to data-driven medicine by using AI to deliver world-class care to patients with cancer and rare disorders across the globe. It is the creator of SOPHiA DDM(TM), a platform that analyzes complex genomic and multimodal data and generates real-time, actionable insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this press release, including 2023 guidance and statements regarding our future results of operations and financial position, business strategy, products and technology, partnerships, and collaborations, as well as plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements are based on our management's beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including those described in our filings with the U.S. Securities and Exchange Commission. No assurance can be given that such future results will be achieved. Such forward-looking statements contained in this document speak only as of the date of this press release. We expressly disclaim any obligation or undertaking to update these forward-looking statements contained in this press release to reflect any change in our expectations or any change in events, conditions, or circumstances on
which such statements are based, unless required to do so by applicable law. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements.
SOPHiA GENETICS SA
Consolidated Statement of Loss
(Amounts in USD thousands, except per share data)
(Unaudited)
Three months ended Year ended
December 31, December 31,
------------------------ ------------------------
2024 2023 2024 2023
----------- ----------- ----------- -----------
Revenue $ 17,733 $ 17,048 $ 65,173 $ 62,371
Cost of revenue (5,631) (5,150) (21,236) (19,458)
----------- ----------- ----------- -----------
Gross profit 12,102 11,898 43,937 42,913
----------- ----------- ----------- -----------
Research and
development
costs (9,143) (9,759) (34,366) (36,969)
Selling and
marketing costs (7,854) (7,966) (29,369) (28,423)
General and
administrative
costs (12,665) (13,269) (46,953) (53,301)
Other operating
income, net 116 150 183 954
----------- ----------- ----------- -----------
Operating loss (17,444) (18,946) (66,568) (74,826)
----------- ----------- ----------- -----------
Interest income 655 961 3,362 4,547
Interest expense (681) (150) (1,913) $(588.SI)$
Fair value
adjustments on
warrant
obligations 104 -- 370 --
Foreign exchange
gains (losses),
net 2,824 (5,917) 3,479 (7,628)
----------- ----------- ----------- -----------
Loss before income
taxes (14,542) (24,052) (61,270) (78,495)
----------- ----------- ----------- -----------
Income tax expense (616) (8) (1,223) (486)
----------- ----------- ----------- -----------
Loss for the
period (15,158) (24,060) (62,493) (78,981)
----------- ----------- ----------- -----------
Attributable to
the owners of the
parent (15,158) (24,060) (62,493) (78,981)
----------- ----------- ----------- -----------
Basic and diluted
loss per share $ (0.23) $ (0.37) $ (0.95) $ (1.22)
=========== =========== =========== ===========
SOPHiA GENETICS SA
Consolidated Statement of Comprehensive Loss
(Amounts in USD thousands)
(Unaudited)
Three months ended Year ended
December 31, December 31,
---------------------- ----------------------
2024 2023 2024 2023
---------- ---------- ---------- ----------
Loss for the period $ (15,158) $ (24,060) $ (62,493) $ (78,981)
Other comprehensive
(loss) income:
Items that may be
reclassified to
statement of loss
Currency
translation
adjustments (7,530) (3,382) (9,679) 15,037
---------- ---------- ---------- ----------
Total items that may
be reclassified to
statement of loss (7,530) (3,382) (9,679) 15,037
Items that will
not be
reclassified to
statement of loss
(net of tax)
Remeasurement of
defined benefit
plans 558 71 327 (212)
---------- ---------- ---------- ----------
Total items that will
not be reclassified
to statement of loss 558 71 327 (212)
Other comprehensive
(loss) income for the
period $ (6,972) $ (3,311) $ (9,352) $ 14,825
========== ========== ========== ==========
Total comprehensive
loss for the period $ (22,130) $ (27,371) $ (71,845) $ (64,156)
========== ========== ========== ==========
Attributable to owners
of the parent $ (22,130) $ (27,371) $ (71,845) $ (64,156)
========== ========== ========== ==========
SOPHiA GENETICS SA
Consolidated Balance Sheet
(Amounts in USD thousands)
(Unaudited)
December 31,
2024 2023
-------------------------- --------------------------
Assets
Current assets
Cash and cash
equivalents $ 80,226 $ 123,251
Accounts
receivable 7,436 13,557
Inventory 5,868 6,482
Prepaids and
other current
assets 5,875 4,757
-------------------------- --------------------------
Total current
assets 99,405 148,047
-------------------------- --------------------------
Non-current
assets
Property and
equipment 5,209 7,469
Intangible assets 28,998 27,185
Right-of-use
assets 14,168 15,635
Deferred tax
assets 1,767 1,720
Other non-current
assets 5,762 6,100
-------------------------- --------------------------
Total non-current
assets 55,904 58,109
-------------------------- --------------------------
Total assets $ 155,309 $ 206,156
========================== ==========================
Liabilities and
equity
Current
liabilities
Accounts payable $ 5,220 $ 5,391
Accrued expenses 13,217 17,808
Deferred contract
revenue 5,732 9,494
Lease
liabilities,
current portion 2,190 2,928
Warrant
obligations 444 --
Total current
liabilities 26,803 35,621
-------------------------- --------------------------
Non-current
liabilities
Borrowings 13,237 --
Lease
liabilities, net
of current
portion 14,603 15,673
Defined benefit
pension
liabilities 3,839 3,086
Other non-current
liabilities 337 334
-------------------------- --------------------------
Total non-current
liabilities 32,016 19,093
-------------------------- --------------------------
Total liabilities 58,819 54,714
-------------------------- --------------------------
Equity
Share capital 4,188 4,048
Share premium 472,244 471,846
Treasury shares (702) (646)
Other reserves 61,037 53,978
Accumulated
deficit (440,277) (377,784)
-------------------------- --------------------------
Total equity 96,490 151,442
-------------------------- --------------------------
Total liabilities
and equity $ 155,309 $ 206,156
========================== ==========================
SOPHiA GENETICS SA
Consolidated Statement of Cash Flows
(Amounts in USD thousands)
(Unaudited)
Year ended
December 31,
----------------------
2024 2023
---------- ----------
Operating activities
Loss before tax $ (61,270) $ (78,495)
Adjustments for non-monetary items
Depreciation 4,575 5,508
Amortization 4,021 2,828
Finance (income) expense, net (5,210) 2,934
Interest expense from borrowings -- --
Fair value adjustments on warrant obligations (370) --
Expected credit loss allowance (523) 214
Share-based compensation 16,488 15,242
Intangible assets write-off -- --
Movements in provisions and pensions 1,617 308
Research tax credit (726) (1,129)
Loss on disposal of property and equipment -- 28
Gain on disposal of lease liability -- (733)
Working capital changes
Decrease (Increase) in accounts receivable 5,892 (6,500)
(Increase) decrease in prepaids and other assets (1,157) 1,375
Decrease (Increase) in inventory 69 (874)
(Decrease) Increase in accounts payables, accrued
expenses, deferred contract revenue, and other
liabilities (7,385) 6,871
---------- ----------
Cash used in operating activities (43,979) (52,423)
---------- ----------
Income tax paid (536) (801)
Interest paid (1,728) (6)
Interest received 3,421 4,655
---------- ----------
Net cash flows used in operating activities (42,822) (48,575)
---------- ----------
Investing activities
Purchase of property and equipment (244) (1,494)
Acquisition of intangible assets (195) (263)
Capitalized development costs (7,737) (7,469)
Proceeds upon maturity of term deposits -- 17,546
Purchase of term deposits -- --
---------- ----------
Net cash flow (used in) provided from investing
activities (8,176) 8,320
---------- ----------
Financing activities
Proceeds from exercise of share options 405 226
Proceeds from borrowings, net of transaction
costs 13,930 --
Capitalized borrowing transaction costs -- --
Payments of principal portion of lease liabilities (2,750) (3,043)
---------- ----------
Net cash flow provided from (used in) financing
activities 11,585 (2,817)
---------- ----------
Decrease in cash and cash equivalents (39,413) (43,072)
---------- ----------
Effect of exchange differences on cash balances (3,612) 5,018
Cash and cash equivalents at beginning of the year 123,251 161,305
---------- ----------
Cash and cash equivalents at end of the year $ 80,226 $ 123,251
========== ==========
SOPHiA GENETICS SA
Reconciliation of IFRS Net Loss to EBITDA and Adjusted EBITDA
(Amounts in USD thousands)
(Unaudited)
Three months ended
December 31, Year ended December 31,
-------------------------------------- --------------------------------------
2024 2023 2024 2023
Loss for the
period $ (15,158) $ (24,060) $ (62,493) $ (78,981)
Exclude the
impact of:
Depreciation $ 1,136 $ 1,170 $ 4,575 $ 6,030
Amortization 1,152 811 4,021 2,828
Interest income (655) (961) (3,362) (4,547)
Interest expense 681 150 1,913 588
Fair value
adjustments on
warrant
obligations (104) -- (370) --
Foreign exchange
gains (losses),
net (2,824) 5,917 (3,479) 7,628
Income tax expense 616 8 1,223 486
------------------ ------------------ ------------------ ------------------
EBITDA $ (15,156) $ (16,965) $ (57,972) $ (65,968)
Adjustments to
EBITDA:
Share-based
compensation
expense(1) 5,078 4,211 16,488 15,247
Non-cash pension
expenses
(income)(2) 1,027 (625) 1,306 (394)
Costs associated
with
restructuring(3) -- 1,232 -- 1,232
------------------ ------------------ ------------------ ------------------
Adjusted EBITDA $ (9,051) $ (12,147) $ (40,178) $ (49,883)
SOPHiA GENETICS SA
Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth
and Constant Currency Revenue Growth Excluding COVID-19-Related Revenue
(Amounts in USD thousands, expect for %)
(Unaudited)
Three months ended
December 31, Year ended December 31,
---------------------------- ----------------------------
2024 2023 Growth 2024 2023 Growth
--------- --------- ------ --------- --------- ------
IFRS revenue $ 17,733 $ 17,048 4 % $ 65,173 $ 62,371 4 %
Current period
constant currency
impact 192 -- 129 --
--------- --------- ------ --------- --------- ------
Constant currency
revenue $ 17,925 $ 17,048 5 % $ 65,302 $ 62,371 5 %
COVID-19-related
revenue (35) (106) (78) (319)
Constant currency
impact on
COVID-19-related
revenue (2) -- -- --
--------- --------- ------ --------- --------- ------
Constant currency
revenue excluding
COVID-19-related
revenue $ 17,888 $ 16,942 6 % $ 65,224 $ 62,052 5 %
========= ========= ====== ========= ========= ======
SOPHiA GENETICS SA Reconciliation of IFRS to Adjusted Gross Profit and
Gross Profit Margin (Amounts in USD thousands, except percentages)
(Unaudited)
Three months ended
December 31, Year ended December 31,
-------------------- -------------------------
2024 2023 2024 2023
--------- --------- ------------ -----------
Revenue $ 17,733 $ 17,048 $ 65,173 $ 62,371
Cost of revenue (5,631) (5,150) (21,236) (19,458)
--------- --------- ------------ -----------
Gross profit $ 12,102 $ 11,898 $ 43,937 $ 42,913
Amortization of
capitalized
research and
development
expenses(4) 1,061 619 3,524 2,099
Adjusted gross profit $ 13,163 $ 12,517 $ 47,461 $ 45,012
========= ========= ============ ===========
Gross profit margin 68.2 % 69.8 % 67.4 % 68.8 %
Amortization of
capitalized
research and
development
expenses(4) 6.0 % 3.6 % 5.4 % 3.4 %
Adjusted gross profit
margin 74.2 % 73.4 % 72.8 % 72.2 %
SOPHiA GENETICS SA
Reconciliation of IFRS to Adjusted Operating Loss
(Amounts in USD thousands)
(Unaudited)
Three months ended Year ended
December 31, December 31,
---------------------- ----------------------
2024 2023 2024 2023
---------- ---------- ---------- ----------
Operating loss $ (17,444) $ (18,946) $ (66,568) $ (74,826)
Amortization of
capitalized research
& development
expenses(4) 1,061 619 3,524 2,099
Amortization of
intangible
assets(5) 90 193 497 729
Share-based
compensation
expense(1) 5,078 4,211 16,488 15,247
Non-cash pension
expense(2) 1,027 (625) 1,306 (394)
Costs associated with
restructuring(3) -- 1,232 -- 1,232
---------- ---------- ---------- ----------
Adjusted operating
loss $ (10,188) $ (13,316) $ (44,753) $ (55,913)
========== ========== ========== ==========
(MORE TO FOLLOW) Dow Jones Newswires
March 04, 2025 06:45 ET (11:45 GMT)
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。