SOPHiA GENETICS Reports Second Quarter 2026 Results

BOSTON and ROLLE, Switzerland, Aug. 4, 2026 — SOPHiA GENETICS (Nasdaq: SOPH), a global leader in AI-driven precision medicine, today reported financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Financial Highlights

• Revenue was $23.3 million, up 27% year-over-year
• Gross margin was 64.6% on a reported basis and 72.1% on an adjusted basis, compared to 67.0% reported and 74.4% adjusted in the prior year period
• Net loss was $22.4 million, flat year-over-year; Adjusted EBITDA loss was $8.8 million, improving 27% year-over-year
• The company is raising 2026 revenue guidance to a range of $94 million to $96 million, representing 22% to 24% year-over-year growth. This compares to the prior range of $92 million to $94 million

"We delivered an outstanding second quarter, growing revenue 27% year-over-year, while also improving adjusted EBITDA loss by 27%," said Ross Muken, Chief Executive Officer of SOPHiA GENETICS. "Strong revenue performance was driven by 60% volume growth in the U.S., 70% volume growth in Liquid Biopsy, and accelerating growth in BioPharma. BioPharma growth is well-positioned to continue into 2027, as today we announce the signing of two companion diagnostic programs with AstraZeneca, the first ever in SOPHiA GENETICS's history."

Muken added, "As I step into the role of CEO, my focus will be on converting our world-class AI platform, a hard-won global network, and a decade of scientific credibility into accelerating, profitable growth for years to come. To achieve these goals, we strengthened our balance sheet with an oversubscribed $57.5 million public offering in Q2, providing sufficient capital to reach our business objectives and invest in long-term growth."

Business Highlights

Expanding with existing customers

• Performed a record 115,000 analyses on SOPHiA DDM™, representing 22% year-over-year volume growth
• Delivered strong analysis volume in North America with 60% year-over-year growth in the U.S.
• Expanded our footprint with existing customers as Net Dollar Retention increased to 117% in Q2 2026, up from 107% in Q2 2025
• Reached 542 core genomics customers as of June 30, 2026, up from 490 customers a year ago

Landing new customers to fuel future growth

• Signed 24 new core genomic customers in Q2 2026, which are expected to begin generating revenue over the next twelve months
• Continued to sign premier healthcare institutions across the globe, including Nova Scotia Health Authority for HemOnc; DB Diagnósticos, Brazil's leading laboratory-support network, for Rare Disorders; and IPO Lisboa, the main cancer center for southern Portugal, for Hereditary Cancer

Accelerating growth in the U.S. market

• Delivered 64% year-over-year revenue growth in the U.S. in Q2 2026 and 60% volume growth
• Completed new customer go-lives for Geisinger Health System in Pennsylvania for Pharmacogenomics, University of Illinois at Chicago for HemOnc, and NYU Langone Health for Solid Tumors
• Signed a strategic collaboration with Children's Hospital of Philadelphia (CHOP), the nation's first pediatric hospital and a global leader in pediatric oncology, to develop and launch a next-generation liquid biopsy application specifically designed for pediatric cancers

Scaling growth with new applications

• Delivered 80% year-over-year revenue growth in Liquid Biopsy in Q2 2026
• Reached a total of 80 customers across 30+ countries signed-to-adopt the Liquid Biopsy application MSK-ACCESS® powered with SOPHiA DDM™, with more than half still yet-to-complete implementation
• Signed major new customers to MSK-ACCESS® in Q2, including AZ Delta Roeselare, one of the largest hospitals in Belgium; Policlinico Riuniti Hospital at the University of Foggia in Italy; and Sultan Qaboos Cancer Center in Oman
• Signed major new customers to the Solid Tumor application MSK-IMPACT® powered with SOPHiA DDM™, including Lifera Omics in Saudi Arabia; CHU Lyon Sud of Hospices Civils de Lyon in France; and Bioma Genetics in Brazil

Developing partnerships to fuel growth

• Signed a Memorandum of Understanding (MOU) with Memorial Sloan Kettering Cancer Center (MSK) to establish a joint venture combining MSK's clinical expertise with SOPHiA GENETICS's AI-native platform to accelerate the next generation of precision oncology
• The envisioned joint venture aims to build an 'AI Lab of the Future' with infrastructure to develop and launch new applications, support BioPharma partners, and build new multimodal clinical intelligence tools

Building BioPharma partnerships

• Signed a new, multi-year agreement with AstraZeneca to launch two companion diagnostic (CDx) programs: (1) a decentralized Solid Tumor CDx, and (2) a Hematological Oncology test for patients with blood cancer
• Delivered strong growth from BioPharma partners in Q2 2026 as recently signed projects with AstraZeneca, Kartos, and others begin to generate revenue

Driving operational excellence

• Remained laser-focused on operational excellence and improved adjusted EBITDA loss by 27% year-over-year to $8.8 million
• Executed an oversubscribed public offering that raised approximately $57.5 million in gross proceeds, bringing cash and cash equivalents to $107.7 million at the end of Q2 2026; The company expects it now has sufficient capital resources to fund its growth objectives
• Executed targeted cost actions in Q2, modestly reducing headcount and operating spend as AI-driven productivity improvements enabled us to streamline workflows while maintaining investment in key growth areas
• Reaffirmed commitment to profitable growth and the expectation of approaching adjusted EBITDA breakeven by the end of 2026 and crossing over to positive adjusted EBITDA in the second half of 2027

2026 Financial Outlook

Based on information as of today, SOPHiA GENETICS expects:

• Full year revenue between $94 million and $96 million, representing approximately 22% to 24% year-over-year growth. This compares to the prior range of $92 million to $94 million
• Adjusted EBITDA loss between $29 million and $32 million, compared to $41.5 million in FY 2025

Earnings Call and Webcast Information

SOPHiA GENETICS will host a conference call and live webcast to discuss the second quarter 2026 results on Tuesday, August 4, 2026, 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

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 EBITDA (non-IFRS measure) to loss for the period (the most comparable IFRS financial measure), due to the inherent difficulty in forecasting and quantifying depreciation expense, amortization of capitalized research & development expenses and intangible assets, interest income, interest expense, fair value adjustments on warrants, income taxes, foreign exchange gains or losses, share-based compensation expenses, social charges on share-based compensation, the non-cash portion of pensions paid in excess of actual contributions, certain transaction costs, litigation expenses and restructuring costs that are necessary for such reconciliation.

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 EBITDA, which the company calculates as loss for the period before depreciation, amortization, interest income, interest expense, fair value adjustments on warrant obligations, foreign exchange (losses) gains, net, income tax (expense) benefit, share-based compensation expense, social charges on share-based compensation, non-cash pension expenses, certain transaction costs, litigation expenses and restructuring costs.

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. Amortization of these assets will continue to be for the foreseeable future a recurring expense incurred as the Company continues to invest in developing revenue-generating products through research and development. 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 social charges related to share-based compensation. These social charges have been, and will continue to be for the foreseeable future, a recurring expense in the company's business;
• 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 certain capital markets transaction costs. These costs may occur from time to time in the future as needed to complete the transactions;
• These non-IFRS measures exclude the impact of litigation expenses related to the company's defense of lawsuits filed by Guardant Health. These expenses are expected to continue for the duration of the litigation and may increase in future periods;
• These non-IFRS measures exclude the costs associated with restructuring, which consists of compensation paid to employees during their garden leave period, severance, and any other amounts legally owed to the employees resulting from their termination as part of a planned workforce reduction, which we undertook to optimize our operations. Additionally, it includes any legal fees incurred as part of the restructuring process. While such actions are not planned going forward as part of our regular operations, we expect such expenses could still be incurred from time to time based on corporate needs; 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

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 received 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.

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 an AI-native healthcare technology company on a mission to transform patient care by expanding access to data-driven medicine globally. It is the creator of SOPHiA DDM™, an AI platform that analyzes complex genomic and multimodal data to generate real-time, real-world insights for a broad global network of hospital, laboratory, and biopharma institutions. For more information, visit SOPHiAGENETICS.COM and connect with us on LinkedIn.

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Loss (Amounts in USD thousands, except per share data) (Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Revenue

$ 23,310

$ 18,323

$ 44,998

$ 36,102

Cost of revenue

(8,249)

(6,053)

(15,188)

(11,624)

Gross profit

15,061

12,270

29,810

24,478

Research and development costs

(8,731)

(8,493)

(18,191)

(17,611)

Selling and marketing costs

(11,186)

(10,034)

(19,999)

(17,568)

General and administrative costs

(15,202)

(12,301)

(28,961)

(23,901)

Other operating income, net

5

66

5

74

Operating loss

(20,053)

(18,492)

(37,336)

(34,528)

Interest income

231

419

520

869

Interest expense

(1,620)

(559)

(3,287)

(1,218)

Fair value adjustments on warrant obligations

(317)

58

(409)

20

Foreign exchange losses, net

(519)

(3,078)

(835)

(3,677)

Loss before income taxes

(22,278)

(21,652)

(41,347)

(38,534)

Income tax expense

(78)

(762)

(331)

(1,265)

Loss for the period

(22,356)

(22,414)

(41,678)

(39,799)

Attributable to the owners of the parent

(22,356)

(22,414)

(41,678)

(39,799)

Basic and diluted loss per share

$ (0.30)

$ (0.33)

$ (0.58)

$ (0.59)

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Comprehensive Loss (Amounts in USD thousands) (Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Loss for the period

$(22,356)

$(22,414)

$(41,678)

$(39,799)

Other comprehensive (loss) income:

Items that may be reclassified to statement of loss

Currency translation adjustments

(81)

9,016

(611)

11,602

Total items that may be reclassified to statement of loss

(81)

9,016

(611)

11,602

Items that will not be reclassified to statement of loss (net of tax)

Remeasurement of defined benefit plans

317

46

440

93

Total items that will not be reclassified to statement of loss

317

46

440

93

Other comprehensive (loss) income for the period

$ 236

$ 9,062

$ (171)

$ 11,695

Total comprehensive loss for the period

$(22,120)

$(13,352)

$(41,849)

$(28,104)

Attributable to owners of the parent

$(22,120)

$(13,352)

$(41,849)

$(28,104)

SOPHiA GENETICS SA Interim Condensed Consolidated Balance Sheets (Amounts in USD thousands) (Unaudited)

June 30, 2026

December 31, 2025

Assets

Current assets

Cash and cash equivalents

$ 107,665

$ 70,289

Accounts receivable

14,112

15,001

Inventory

7,084

6,351

Prepaids and other current assets

8,429

7,438

Total current assets

137,290

99,079

Non-current assets

Property and equipment

4,903

5,665

Intangible assets

36,163

35,891

Right-of-use assets

11,039

12,382

Deferred tax assets

1,769

1,831

Other non-current assets

7,195

8,183

Total non-current assets

61,069

63,952

Total assets

$ 198,359

$ 163,031

Liabilities and equity

Current liabilities

Accounts payable

$ 11,904

$ 8,960

Accrued expenses

18,699

20,736

Deferred contract revenue

15,616

16,720

Lease liabilities, current portion

2,720

2,700

Warrant obligations

2,144

1,412

Total current liabilities

51,083

50,528

Non-current liabilities

Borrowings

47,999

47,733

Lease liabilities, net of current portion

11,108

12,587

Defined benefit pension liabilities

3,822

4,162

Other non-current liabilities

1,229

876

Total non-current liabilities

64,158

65,358

Total liabilities

115,241

115,886

Equity

Share capital

4,814

4,814

Share premium

542,657

473,675

Treasury shares

(183)

(1,218)

Other reserves

96,784

89,150

Accumulated deficit

(560,954)

(519,276)

Total equity

83,118

47,145

Total liabilities and equity

$ 198,359

$ 163,031

SOPHiA GENETICS SA Interim Condensed Consolidated Statements of Cash Flows (Amounts in USD thousands) (Unaudited)

Six months ended June 30,

2026

2025

Operating activities

Loss before tax

$ (41,347)

$ (38,534)

Adjustments for non-monetary items

Depreciation

2,159

1,927

Amortization

3,499

2,740

Finance expense, net

3,354

4,037

Fair value adjustments on warrant obligations

409

(20)

Expected credit loss allowance increase (reversal)

40

252

Share-based compensation

7,805

8,191

Movements in provisions and pensions

440

304

Research tax credit

(441)

(528)

Working capital changes

Decrease (increase) in accounts receivable

589

(1,298)

Decrease (increase) in prepaids and other assets

628

934

Decrease (increase) in inventory

(1,123)

362

Increase (decrease) in accounts payables, accrued expenses, deferred contract revenue, and other liabilities

1,227

2,815

Cash used in operating activities

(22,761)

(18,818)

Income tax paid

(51)

(146)

Net cash flows used in operating activities

(22,812)

(18,964)

Investing activities

Purchase of property and equipment

(1,026)

(130)

Acquisition of intangible assets

—

(87)

Capitalized development costs

(4,541)

(3,250)

Interest received

520

876

Net cash flow used in investing activities

(5,047)

(2,591)

Financing activities

Proceeds from exercise of share options

1,233

115

Interest paid

(2,715)

(1,240)

Proceeds from borrowings, net of transaction costs

—

34,563

Proceeds from sale of common stock in at-the-market offering, net of transaction costs

15,667

—

Proceeds from sale of common stock in follow-on offering, net of transaction costs

54,048

—

Payments of principal portion of lease liabilities

(1,201)

(889)

Net cash flow provided by/(used in) financing activities

67,032

32,549

Increase (decrease) in cash and cash equivalents

39,173

10,994

Effect of exchange differences on cash balances

(1,797)

3,602

Cash and cash equivalents at beginning of the period

70,289

80,226

Cash and cash equivalents at end of the period

$ 107,665

$ 94,822

SOPHiA GENETICS SA Reconciliation of IFRS Net Loss to Adjusted EBITDA (Amounts in USD thousands) (Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

IFRS loss for the period

$ (22,356)

$ (22,414)

$ (41,678)

$ (39,799)

Exclude the impact of:

Depreciation

$ 1,080

$ 942

$ 2,159

$ 1,927

Amortization(3)(4)

1,827

1,428

3,499

2,740

Interest income

(231)

(419)

(520)

(869)

Interest expense

1,620

559

3,287

1,218

Fair value adjustments on warrant obligations

317

(58)

409

(20)

Foreign exchange losses, net

519

3,078

835

3,677

Income tax expense

78

762

331

1,265

Share-based compensation expense(1)

4,492

4,356

7,805

8,191

Social charges related to share-based compensation(7)

1,240

(360)

2,308

(5)

Non-cash pension expense(2)

72

89

163

175

Transaction costs(5)

123

—

291

—

Litigation expenses(6)

1,130

—

1,819

—

Restructuring costs(8)

1,255

—

1,255

—

Adjusted EBITDA

$ (8,834)

$ (12,037)

$ (18,037)

$ (21,500)

SOPHiA GENETICS SA Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth (Amounts in USD thousands, except for %) (Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

Growth

2026

2025

Growth

IFRS revenue

$ 23,310

$ 18,323

27 %

$ 44,998

$ 36,102

25 %

Current period constant currency impact

(454)

—

(1,936)

—

Constant currency revenue

$ 22,856

$ 18,323

25 %

$ 43,062

$ 36,102

19 %

SOPHiA GENETICS SA Reconciliation of IFRS to Adjusted Gross Profit and Gross Profit Margin (Amounts in USD thousands, except percentages) (Unaudited)

Three months ended June 30,

Six months ended June 30,

2026

2025

2026

2025

Revenue

$ 23,310

$ 18,323

$ 44,998

$ 36,102

Cost of revenue

(8,249)

(6,053)

(15,188)

(11,624)

Gross profit

$ 15,061

$ 12,270

$ 29,810

$ 24,478

Amortization of capitalized research and development expenses(3)

1,757

1,357

3,359

2,598

Adjusted gross profit

$ 16,818

$ 13,627

$ 33,169

$ 27,076

Gross profit margin

64.6 %

67.0 %

66.2 %

67.8 %

Amortization of capitalized research and development expenses(3)

7.5 %

7.4 %

7.5 %

7.2 %

Adjusted gross profit margin

72.1 %

74.4 %

73.7 %

75.0 %

Notes to the Reconciliation of IFRS to Adjusted Financial Measures Tables

(1)

Share-based compensation expense represents the cost of equity awards issued to our directors, officers, and employees. The fair value of awards is computed at the time the award is granted and is recognized over the vesting period of the award by a charge to the income statement and a corresponding increase in other reserves within equity. These expenses do not have a cash impact but remain a recurring expense for our business and represent an important part of our overall compensation strategy.

(2)

Non-cash pension expense consists of the amount recognized in excess of actual contributions made to our defined pension plans to match actuarial expenses calculated for IFRS purposes. The difference represents a non-cash expense but remains a recurring expense for our business as we continue to make contributions to our plans for the foreseeable future.

(3)

Amortization of capitalized research and development expenses consists of software development costs amortized using the straight-line method over an estimated life of five years. These expenses do not have a cash impact but remain a recurring expense generated over the course of our research and development initiatives.

(4)

Amortization of intangible assets consists of costs related to intangible assets amortized over the course of their useful lives. These expenses do not have a cash impact, but we could continue to generate such expenses through future capital investments.

(5)

Transaction costs consists of expenses incurred in connection with the Company's shelf registration statement and the ATM program.

(6)

Litigation expenses consists of expenses related to the company's defense of lawsuits filed by Guardant Health.

(7)

Social charges related to share-based compensation consist of payroll taxes and other social charges on share-based compensation awards. These expenses have been, and will continue to be for the foreseeable future, a recurring expense in the company's business.

(8)

Restructuring costs consists of compensation paid to employees during their garden leave period, severance, and any other amounts legally owed to the employees resulting from their termination as part of a planned workforce reduction. Additionally, it includes legal fees incurred as part of the restructuring process.