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The CE-IVD certified application further assists in clinical decisions related to advanced ovarian cancer patients
BOSTON, United States and LAUSANNE, Switzerland – November 2, 2022 – SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company in the healthcare space, debuted new data at the European Society of Gynaecological Oncology (ESGO) Congress as part of a poster (#PA-065) presented by Prof. Alexandre Harlé of the Institut de Cancérologie de Lorraine, France. The results show an evaluation of Homologous Recombination (HRD) detection supported by a deep learning algorithm in a clinical cohort of ovarian cancer patients treated with a PARP inhibitor.* The new evaluation data show the clinical utility of the SOPHiA DDM™ Dx HRD Solution for accurate HRD testing.
The deep learning-based solution expands identification possibilities for HRD-positive ovarian cancer patients that could potentially benefit from first-line maintenance therapy with PARP inhibitors. In a single workflow, the SOPHiA DDM™ Dx HRD Solution can evaluate the causes and the consequences of HRD, which is a complex biomarker with predictive value in ovarian cancer. Approximately half of all newly diagnosed patients with advanced ovarian cancer have HRD-positive tumors.
The clinical relevance of the SOPHiA DDM™ Dx HRD Solution presented at ESGO was evaluated in a multicenter study using a sub-set of ovarian cancer samples1. The results demonstrate that median progression-free survival (PFS) was improved in PARPi-treated patients with HRD-positive status as detected by the SOPHiA DDMTM Dx HRD Solution*. The information presented at ESGO can be found at this page.
The SOPHiA DDM™ Dx HRD Solution is CE-IVD certified, enabling it to inform diagnostic purposes in the European Union and other markets recognizing this certification.
SOPHiA GENETICS empowers medical institutions to implement a decentralized testing approach for ovarian cancer management. Rather than having to send tests to larger laboratories, they can simplify and expedite the process in-house, allowing them to retain ownership of the data analyzed, in a cost-effective, timely and reliable manner to potentially allow for better therapy decisions.
*Interim results based on retrospective correlation findings outside the context of a clinical trial
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures, unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn, Facebook, and Instagram. Where others see data, we see answers.
SOPHiA GENETICS 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 statements regarding our future results of operations and financial position, business strategy, products and technology, 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 press release speak only as of the date hereof. 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.
1. PAOLA-1 ClinicalTrials.gov number, NCT02477644. Ray-Coquard I, Pautier P, Pignata S, et al. N Engl J Med. 2019;381(25):2416-2428.
The agreement is to expand and reinforce data-driven medicine through the SOPHiA DDM™ health data analysis platform available with Microsoft Azure
Geneva, Switzerland – November 1, 2022 - SOPHiA GENETICS™ (Nasdaq: SOPH), a cloud-native software company in the healthcare space, is embarking on a multi-year integrated strategic partnership with Microsoft to improve healthcare workflows globally. This investment in the development of next- generation healthcare will lead the way in enabling multimodal data curation, development, and deployment. As a result, the Microsoft Azure-powered SOPHiA DDM™ Platform is expected to elevate the standard of care for patients, by delivering advanced outcomes for precision medicine.
SOPHiA GENETICS’ global network breaks down data silos, allowing the democratization of data-driven medicine by connecting institutions that leverage diverse multimodal data sets on the SOPHiA DDM™ Platform. Multimodal health data sets can be the largest and most complex to structure, analyze and archive, and this wide-ranging partnership will focus on accelerating results, improving performance, and ultimately enhance medical research by propelling the transition to precision medicine globally.
“With Microsoft's scale and the power of the SOPHiA DDM™ Platform, this partnership will help improve clinical outcomes and make patient care more efficient and personalized,” said Jurgi Camblong, PhD., Co-Founder and CEO, SOPHiA GENETICS. “SOPHiA GENETICS will help accelerate the transition to a decentralized care model for hospitals, healthcare providers and biopharma by breaking down data silos and delivering innovation at scale.”
“SOPHiA GENETICS’ mission is to democratize data-driven medicine. Microsoft is pleased to support this mission by providing secure and scalable cloud infrastructure, alongside SOPHiA GENETICS’ advanced artificial intelligence and machine learning tools and technologies that can help generate actionable insights, which can lead to better health outcomes,” said David C. Rhew, M.D., Global Chief Medical Officer, Microsoft.
This strategic partnership expands on SOPHiA GENETICS’ and Microsoft’s collaboration. SOPHiA GENETICS offers its AI and machine learning SOPHiA DDM™ Platform on Azure, by leveraging various Azure services that enable greater efficiencies and open opportunities for advancing tools to unlock important medical and genomic data. With the addition of the SOPHiA DDM™ Platform, providers utilizing Azure will scale their ability to aggregate multimodal data types to extract insights within existing workflows for their pursuit to deliver the best care possible. As one of Microsoft’s chosen partners for precision medicine, SOPHiA GENETICS will help accelerate the transition to a decentralized care model for hospitals, healthcare providers and biopharma, by breaking down data silos and delivering innovation at scale.
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures, unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn, Facebook, and Instagram. Where others see data, we see answers.
SOPHiA GENETICS 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 statements regarding our future results of operations and financial position, business strategy, products and technology, 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 press release speak only as of the date hereof. 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.
Media Contact:
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
BASEL, Switzerland - October 31, 2022 — SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company in the healthcare space, will be hosting an enlightening panel discussion, “Hope or Hype?: The importance of Multimodal Data Integration to Advance Precision Medicine” at the BioData World Congress. The panel discussion and congress will take place with physical attendance, in Basel, Switzerland on November 9, 2022 at 12:05 p.m. CET at the Congress Center Basel.
Peter Casasanto, Chief BioPharma Officer at SOPHiA GENETICS, will moderate industry experts including:
These esteemed panelists will discuss topics such as the importance of multimodal data integration to advance precision medicine, the role of A.I. and real-world data in clinical practice, how we can scale the use of A.I. in clinical practice, and what the main challenges are to apply A.I. in healthcare.
The BioData World Congress is Europe’s largest congress covering big data in pharmaceutical development and healthcare. Interested parties can register for the conference here.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn, Facebook, and Instagram. Where others see data, we see answers.
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Media Contact:
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
Highlights include: a memorandum of understanding with Memorial Sloan Kettering Cancer Center and a novel new partnership with Boundless Bio, a next-generation precision oncology company
SOPHiA GENETICS’ next-generation solution CarePath, fueled by current real world observational data, was previewed for attendees
BOSTON and GENEVA, Switzerland, Sept. 21, 2022 (PR NEWSWIRE) -- SOPHiA GENETICS (Nasdaq: SOPH), a cloud-native software company in the healthcare space, hosted its first-ever Investor Day on Tuesday, September 20, 2022, in New York City.
The event, hosted by the CEO and Co-Founder Dr. Jurgi Camblong and members of the executive leadership team, provided a roadmap of the Company’s long-term vision and highlighted new commercial opportunities and partnerships. One takeaway from the event was SOPHiA GENETICS’ acceleration into the Biopharma space, which opens the door for new opportunities for market growth. The audience also heard how the Company’s strategic business model allows for it to continue to provide robust depth in the clinical space.
“A key theme throughout the day was how we innovate; how SOPHiA GENETICS, from its inception, has identified opportunities in the healthcare industry for innovation and acceleration of data sharing to advance medicine, research and patient care,” said Jurgi Camblong, CEO and Co-Founder, SOPHiA GENETICS. “Our vision is made possible by the strong foundation our company has been built on, as well as the strategic relationships we have formed to further our mission of democratizing data-driven medicine.”
New Collaboration with One of the Top-Ranked Cancer Centers in the United States
SOPHiA GENETICS recently announced a memorandum of understanding to enter into a collaboration with Memorial Sloan Kettering Cancer Center (“MSK”). Once executed, the collaboration agreements will blend the power of SOPHiA GENETICS’ large, global network and deep expertise in predictive algorithms with MSK’s clinical expertise in cancer genomics. The collaboration agreements will also allow SOPHiA GENETICS’ global network of healthcare providers access to MSK’s proprietary tumor sequencing tests such as MSK-IMPACT®, for analyzing tumors. Additionally, the collaboration agreements will combine MSK’s rich precision oncology data with the SOPHiA CarePathTM module to enable the acceleration of actionable insights from data to improve patient outcomes.
“Our vision is to expand access to world-class data, including to our current network, which contributes to the collective intelligence of the SOPHiA GENETICS platform,” said Philippe Menu, M.D.-Ph.D., Chief Medical Officer, SOPHiA GENETICS.
Enabling Biotech Developing Novel Cancer Therapies Targeting Oncogene Amplification
SOPHiA GENETICS announced a partnership with Boundless Bio, a next-generation precision oncology company developing innovative therapeutics directed against extrachromosomal DNA (ecDNA) in oncogene amplified cancers.
It has been well established that patients with oncogene amplification generally do not benefit from standard of care cancer treatments, and unlike other forms of oncogenic gene alterations, oncogene amplification frequently occurs on ecDNA. ecDNA are circular units of nuclear DNA that are distinct from normal chromosomes and are the primary site for high copy number amplification in cancer. Boundless Bio is developing the first ecDNA-directed therapies (ecDTx) along with a precision diagnostic method called ECHO (ecDNA Harboring Oncogenes) to detect ecDNA from a patient’s routine tumor sequencing data.
The partnership between Boundless Bio and SOPHiA GENETICS will further develop ECHO for use in ecDTx clinical trials.
SOPHiA GENETICS’ unique ability to harmonize data derived from diverse genomic instruments and deploy as a robust, standardized solution enables a new model for clinical trial testing. This decentralized, global genomic solution combined with Boundless Bio’s ecDTx drug development capabilities aims to unlock value by breaking the barriers inherent to the traditional central lab approach; optimizing patient selection and clinical trial design; and enabling a global collective network of major hospitals and academic centers to effectively deliver new treatment options to patients with oncogene amplified cancers.
“We are pleased to partner with SOPHiA GENETICS for the development of Boundless Bio’s ecDNA detection algorithm, ECHO, into a clinical trial device” said Peter Krein, Ph.D., Vice President of Precision Medicine at Boundless Bio. “The ability to identify patients with ecDNA driven tumors is critical to our mission in addressing this area of high unmet medical need. SOPHiA GENETICS’ unique expertise in developing cloud based IVD NGS software algorithms makes them an ideal partner to develop ECHO into an investigational device.”
DEEP-Lung-IV Multimodal Clinical Study Fuels New SOPHiA Carepath Platform
In late 2021, SOPHiA GENETICS launched a DEEP-Lung-IV Multimodal Clinical Study with the goal of aggregating real-world multimodal (genomic, clinical, biological and radiomic) data for patients with metastatic non-small cell lung cancer. The study has garnered interest from top-tier centers globally, with a strong patient recruitment trend; to-date, nearly 900 patients across 23 sites have been enrolled in the study. As patients have been followed along the patient journey, data sets have been collected and analyzed by SOPHiA GENETICS’ machine learning algorithm to predict how the patients will respond to immunotherapy and why.
These robust and growing patient data will inform SOPHiA GENETICS’ artificial intelligence and machine learning that will fuel the forthcoming SOPHiA CarePath TM module, a new product that will be launched on the SOPHiA DDM™ Platform and aims to be the vehicle healthcare practitioners can use to leverage the real-world, real-time insights obtained from this study. The SOPHiA CarePathTM module will provide the following benefits:
Alongside these announcements, a full recording of the event is available here
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Pictured here: SOPHiA GENETICS executives presented a roadmap of the Company’s long-term vision and highlighted new commercial opportunities and partnerships during the Company’s first-ever Investor Day. Some of the presentations of the day included talks from (Left to Right, top row): CEO and Co-Founder Jurgi Camblong; Chief Financial Officer Ross Muken; (Left to Right, bottom row): Chief Biopharma Officer Peter Casasanto; and Chief Scientific Officer Zhenyu Xu and Chief Technology Officer Ahbi Verma.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn, Facebook, and Instagram. Where others see data, we see answers
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures, unless specified otherwise. The information in this press release is about products that may or may not be available in different countries and, if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact [email protected] to obtain the appropriate product information for your country of residence.
SOPHiA GENETICS 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 statements regarding our future results of operations and financial position, business strategy, products and technology, 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 press release speak only as of the date hereof. 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.
Media Contact:
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
BOSTON and LAUSANNE, Switzerland, Sept. 02, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a cloud-native software company in the healthcare space, announced today Chief Executive Officer, Dr. Jurgi Camblong and Chief Financial Officer, Ross Muken will participate in a fireside chat at the 20th Annual Morgan Stanley Global Healthcare Conference on Monday, September 12, 2022, at 8:45 a.m. EDT.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact:
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
BOSTON and LAUSANNE, Switzerland, Aug. 09, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a cloud-native software company in the healthcare space, today reported financial results for the second quarter ended June 30, 2022.
Recent Highlights
CEO Commentary
“We delivered yet another healthy and steady quarter amidst a challenging macroeconomic and geopolitical backdrop.” said Dr. Jurgi Camblong, Chief Executive Officer and Co-Founder, SOPHiA GENETICS. “Despite these headwinds, our vision for the company’s long-term future remains unchanged. We continue to be the leader in this sizeable but emerging market of data-driven medicine with the right combination of platform, technology, people, and partners to execute our strategic plans and take advantage of this massive market opportunity ahead.”
Second Quarter Financial Results
Total revenue for the second quarter of 2022 was $11.7 million compared to $10.2 million for the second quarter of 2021, representing year-over-year growth of 15%. Constant currency revenue growth was 30%, and constant currency revenue growth excluding COVID-19-related revenue was 36%.
Platform analysis volumes increased to 65,889 analyses for the second quarter of 2022 compared to 62,837 analyses for the second quarter of 2021.
Gross profit for the second quarter of 2022 was $7.6 million compared to gross profit of $6.2 million in the second quarter of 2021, representing year-over-year growth of 22%. Gross margin was 65% for the second quarter of 2022 compared with 61% for the second quarter of 2021. Adjusted gross margin was 67% for the second quarter of 2022 compared to 62% for the second quarter of 2021.
Total operating expenses for the second quarter of 2022 were $31.7 million compared to $22.2 million for the second quarter of 2021.
R&D expenses for the second quarter of 2022 were $9.0 million compared to $6.4 million for the second quarter of 2021.
Sales and marketing expenses for the second quarter of 2022 were $8.2 million compared to $7.6 million for the second quarter of 2021.
General and administrative expenses for the second quarter of 2022 were $14.7 million dollars compared to $8.2 million for the second quarter of 2021.
Operating loss for the second quarter of 2022 was $24.1 million, compared to $15.9 million in the second quarter of 2021. Adjusted operating loss for the second quarter of 2022 was $19.6 million, compared to $14.3 million for the second quarter of 2021.
Net loss for the second quarter of 2022 was $24.7 million or $0.39 per share compared to $18.4 million or $0.38 per share in the second quarter of 2021. Adjusted net loss for the second quarter of 2022 was $20.2 million or $0.31 per share, compared to $15.0 million or $0.31 per share for the second quarter of 2021.
2022 Outlook
We are reiterating our expectations of constant currency revenue growth of 30% to 35% for full-year 2022. Based on our latest view of the impact of movements in the foreign exchange rates between our key transactional currencies, including the euro, the Swiss franc, and the Turkish lira, and the U.S. dollar, we now expect full-year 2022 revenue to be between $47.0 million and $49.5 million.
Webcast and Conference Call Information
SOPHiA GENETICS will host a conference call and live webcast to discuss the second quarter of fiscal 2022 financial results as well as business outlook on Tuesday, August 09, 2022 at 8:30 a.m. EDT / 2:30 p.m. CEST. The call will be webcast live on the SOPHiA GENETICS Investor Relations website. Additionally, an audio replay of the conference call will be available on the website after its completion.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a cloud-native software company in the healthcare space dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM ™ Platform, a software platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM ™ Platform and related solutions, products, and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers
Non-IFRS Financial Measures
To provide investors with additional information regarding our financial results, we have disclosed here and elsewhere in this earnings release the following non-IFRS measures:
These non-IFRS measures are key measures used by our management and board of directors to evaluate our 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, we believe that these non-IFRS measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our 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 our results as reported under IFRS. Some of these limitations are:
Because of these limitations, you should consider these non-IFRS measures alongside other financial performance measures, including various cash flow metrics, net income and our 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
We operate internationally, and our 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 our 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 our 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 we use the term “constant currency”, it means that we have 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. We then calculate the difference between the IFRS revenue and the constant currency revenue to yield the “constant currency impact” for the current period.
Our management and board of directors use constant currency revenue growth to evaluate our 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 our customer acquisition efforts and land-and-expand strategy. Accordingly, we believe that this non-IFRS measure provides useful information to investors and others in understanding and evaluating our revenue growth in the same manner as our 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 our revenue and could significantly impact our 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 our other IFRS results.
In addition to constant currency revenue, we present constant currency revenue excluding COVID-19-related revenue to further remove the effects of revenues that we derived from sales of COVID-19-related offerings, including a NGS assay for COVID-19 that leverages our SOPHiA platform’s analytical capabilities and COVID-19 bundled access products. We do not believe that these revenues reflect our core business of commercializing our platform because our COVID-19 solution was offered to address specific market demand by our customers for analytical capabilities to assist with their testing operations. We do not anticipate additional development of our 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 we do not expect COVID-19-related revenues to constitute in the future, a significant part our revenue. Accordingly, we believe that this non-IFRS measure provides useful information to investors and others in understanding and evaluating our revenue growth. However, this non-IFRS measure has limitations, including that COVID-19-related revenues contributed to our 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 our 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.
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 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.
Investor Contact
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
SOPHiA GENETICS SA
Interim Condensed Consolidated Statement of Loss
(Amounts in USD thousands, except per share data)
(Unaudited)
SOPHiA GENETICS SA
Interim Condensed Consolidated Statement of Comprehensive Loss
(Amounts in USD thousands)
(Unaudited)
SOPHiA GENETICS SA
Interim Condensed Consolidated Balance Sheet
(Amounts in USD thousands)
(Unaudited)
SOPHiA GENETICS SA
Interim Condensed Consolidated Statement of Cash Flows
(Amounts in USD thousands)
(Unaudited)
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)
SOPHiA GENETICS SA
Reconciliation of IFRS to Adjusted Cost of Revenue
(Amounts in USD thousands)
(Unaudited)
SOPHiA GENETICS SA
Reconciliation of IFRS to Adjusted Gross Profit and Gross Profit Margin
(Amounts in USD thousands, except percentages)
(Unaudited)
SOPHiA GENETICS SA
Reconciliation of IFRS to Adjusted Operating Loss
(Amounts in USD thousands)
(Unaudited)
SOPHiA GENETICS SA
Reconciliation of IFRS to Finance Expense, Net
(Amounts in USD thousands)
(Unaudited)
SOPHiA GENETICS SA
Reconciliation of IFRS to Adjusted Loss for the Period and Loss per Share
(Amounts in USD thousands, except per share and share data)
(Unaudited)
Notes to the Reconciliation of IFRS to Adjusted Financial Measures Tables
(1) 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.
(2) 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.
(3) 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.
(4) 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 pensions remain a recurring expense for our business as we continue to make contributions to our plans for the foreseeable future.
(5) Non-recurring IPO-related expenses represent expenses incurred for our initial public offering that were not capitalized and are not expected to be recurring during the ordinary course of our business.
(6) Change in fair value of derivative consists of changes in the fair valuation of the derivative related to the success fee owed to TriplePoint Capital LLC upon the completion of our initial public offering. We paid the fee in September 2021 and, as a result, we ceased to incur expenses resulting from the change in fair value of such derivative.
BOSTON and LAUSANNE, Switzerland, Aug. 04, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a cloud-native software company in the healthcare space, announced today it will host its first-ever Investor Day on Tuesday, September 20, 2022, at PUBLIC Hotel in New York City. The event will begin at 1:30 p.m. EDT and is expected to conclude at approximately 5:30 p.m. EDT.
The event will feature presentations from the CEO and Co-Founder, Dr. Jurgi Camblong as well as from other members of the executive leadership team, followed by a Q&A session and reception.
Due to limited capacity, advanced registration is required for in-person attendance and is available by invitation. For more information, interested parties may contact Investor Relations at [email protected].
Additionally, the event will be webcast live and all interested parties are invited to access the webcast from the Investor Relations section of the company’s website. A replay of the webcast and slides shown during the presentations will also be available on the company’s website the following day.
A Media Snippet accompanying this announcement is available by clicking on the image or link below:
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a software company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by a broad network of hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact:
Kelly Katapodis
Senior Manager, Media & Communications
[email protected]
BOSTON and LAUSANNE, Switzerland, July 29, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a leader in data-driven medicine, announced today Chief Financial Officer, Ross Muken, will attend and be a panelist at the Canaccord Genuity 42nd Annual Growth Conference on Thursday, August 11, 2022 at the InterContinental Hotel in Boston, MA, United States.
Ross will join other industry leaders for the panel “Leveraging Omics-Based Data and Analytics to Advance Precision Health to the Next Level,” starting at 9:30 a.m. EST.
A live webcast and replay of the session will be available on the investor relations section of the SOPHiA GENETICS website at https://ir.sophiagenetics.com.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a healthcare technology company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by more than 790 hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers.
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact:
Don Granese
Public Relations
[email protected]
BOSTON and LAUSANNE, Switzerland, July 14, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a leader in data-driven medicine, today announced it will release its financial results for the second quarter of fiscal 2022 before U.S. markets open on Tuesday, August 9, 2022. SOPHiA GENETICS will host a conference call to discuss its financial results as well as business outlook beginning at 8:30 a.m. EDT / 2:30 p.m. CEST.
The call will be webcast live on the SOPHiA GENETICS Investor Relations website. Additionally, a replay will be available on the website after its completion.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a healthcare technology company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-based platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by over 790 hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers.
Investor Contact:
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact:
Don Granese
Public Relations
[email protected]
BOSTON, United States and LAUSANNE, Switzerland, June 15, 2022 — SOPHiA GENETICS SA (Nasdaq: SOPH) (“the Company”), today announced that the Company has published its first Environmental, Social and Governance Impact Summary (“ESG Impact Summary”). The ESG Impact Summary highlights the Company’s policies, ongoing practices, and recent initiatives across a range of areas including innovation and access, protecting patient data, empowering its people, as well as other key priority areas. The ESG Impact Summary is available on SOPHiAGENETICS.COM, in the Investor Relations section.
“We are thrilled to be taking the first steps in SOPHiA GENETICS’ ESG journey. We place patient care at the heart of all our decisions. Our success is deeply rooted in our core values and the positive impact we have in the ESG areas across all levels of the organization. This is critical to our mission of creating a wiser and more sustainable healthcare system,” said Dr. Jurgi Camblong, Co-Founder and CEO at SOPHiA GENETICS.
About SOPHiA GENETICS
SOPHiA GENETICS (Nasdaq: SOPH) is a healthcare technology company dedicated to establishing the practice of data-driven medicine as the standard of care and for life sciences research. It is the creator of the SOPHiA DDM™ Platform, a cloud-native platform capable of analyzing data and generating insights from complex multimodal data sets and different diagnostic modalities. The SOPHiA DDM™ Platform and related solutions, products and services are currently used by more than 790 hospital, laboratory, and biopharma institutions globally. For more information, visit SOPHiAGENETICS.COM, or connect on Twitter, LinkedIn and Instagram. Where others see data, we see answers.
Investor Contact
Jennifer Pottage
Head of Investor Relations
[email protected]
Media Contact
Don Granese
Public Relations
[email protected]
SOPHiA GENETICS products are for Research Use Only and not for use in diagnostic procedures unless specified otherwise.
SOPHiA DDM™ Dx Hereditary Cancer Solution, SOPHiA DDM™ Dx RNAtarget Oncology Solution and SOPHiA DDM™ Dx Homologous Recombination Deficiency Solution are available as CE-IVD products for In Vitro Diagnostic Use in the European Economic Area (EEA), the United Kingdom and Switzerland. SOPHiA DDM™ Dx Myeloid Solution and SOPHiA DDM™ Dx Solid Tumor Solution are available as CE-IVD products for In Vitro Diagnostic Use in the EEA, the United Kingdom, Switzerland, and Israel. Information about products that may or may not be available in different countries and if applicable, may or may not have received approval or market clearance by a governmental regulatory body for different indications for use. Please contact us at [email protected] to obtain the appropriate product information for your country of residence.
All third-party trademarks listed by SOPHiA GENETICS remain the property of their respective owners. Unless specifically identified as such, SOPHiA GENETICS’ use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between SOPHiA GENETICS and the owners of these trademarks. Any references by SOPHiA GENETICS to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.