SOPHiA GENETICS expects 2026 revenue of $96 million as revenue grows 25%
Key Facts
SOPHiA GENETICS announced on November 3 results for the third quarter ended September 30, 2026, saying it expects full-year revenue at the top of its $94 million to $96 million range. Third-quarter revenue was $24.267 million, up 25% from $19.462 million in the same period of 2025. The company reported a net loss of $20.3 million, up 1% year over year, but basic and diluted loss per share narrowed to $0.24 from $0.30. Adjusted EBITDA loss also fell 31% to $6.1 million. CEO Ross Muken said revenue grew 25%, linking the quarter's performance to record analysis volumes, strength in the U.S. market and accelerating biopharma partnership activity.
On a constant-currency basis, revenue was $24.434 million, up 26% from $19.462 million a year earlier, while currency translation had an impact of $167,000 during the period. The company said strong commercial performance partially offset the effect of exchange-rate movements at quarter-end. It added that continued movements could weigh on fourth-quarter revenue. The warning puts the expectation of reaching the top of annual guidance alongside the results' sensitivity to currency movements in the coming period. Constant-currency growth does not change reported revenue of $24.267 million.
The company raised its 2026 revenue outlook in August to $94 million–$96 million, from $92 million–$94 million previously. In its November announcement, it said it now expects to reach the top of the existing range, or $96 million. This updates the outlook within a range that had already been widened; it does not announce a new range. Alongside revenue, management expects an adjusted EBITDA loss of $29 million to $32 million in 2026, compared with a loss of $41.5 million in 2025. This path reflects the company's expectation of reducing its annual adjusted loss while continuing to report losses this year.
The company recorded 118,000 analyses on the SOPHiA DDM platform during the quarter, a record and a 19% increase from a year earlier. Net revenue retention rose to 118%, from 108% in the third quarter of 2025. The number of core genomics customers was 551 as of September 30, compared with 488 in the same period last year. The company also signed 30 new customers in this business during the quarter and expects them to begin generating revenue over the following twelve months. In the United States, revenue grew 41% year over year in the third quarter.
On partnerships, SOPHiA GENETICS signed a multi-year agreement with AstraZeneca during the quarter to launch two companion diagnostic programs. Muken said accelerating biopharma partnership activity was among the factors he linked to the quarter's performance. Management also said new U.S. accounts signed during the quarter are expected to begin expanding their use in 2027. Revenue for the nine months ended September 30 was $69.265 million, up 25% from $55.564 million in the same period of 2025. The company continues to expect to reach positive adjusted EBITDA in the second half of 2027.