From GlobeNewswire:

SOPHiA GENETICS (Nasdaq: SOPH) reported financial results for Q4 2023 and FY 2023, with revenue growing 27% and 31% year-over-year, respectively. Operating loss improved by 15% and 22% year-over-year for reported and adjusted bases. Cash burn decreased by 11% in Q4 2023 and 36% for FY 2023.

SOPHiA GENETICS performed a record 317,062 analyses in FY 2023, with 450 core genomics customers as of December 31, 2023. 35 new core genomic customers were signed in Q4 2023, including healthcare networks in the US and India. U.S. market revenue grew 70% in FY 2023.

The company launched a new Liquid Biopsy suite in December 2023 and expanded existing customer relationships with top healthcare centers in Spain and Latin America. Strong growth in Solid Tumor applications was seen, especially in HRD testing. Partnership with AstraZeneca was also expanded.

SOPHiA GENETICS provided financial outlook for 2024 with revenue expected between $78M and $81M, representing 25% to 30% growth compared to 2023. Adjusted gross margin and operating loss guidance were also provided. The company uses non-IFRS measures to evaluate operating performance. An earnings call and webcast are scheduled for March 5, 2024.



Read more at GlobeNewswire:: SOPHiA GENETICS Reports Fourth Quarter and Full Year 2023