SOPHiA GENETICS Signals Growth with AstraZeneca, MSK Partnerships

BOSTON and ROLLE, Switzerland – August 04, 2026 – SOPHiA GENETICS (Nasdaq: SOPH) sent a powerful signal to the market this week, reporting stellar second-quarter results that were not just about financial beats but about strategic validation. The AI-driven precision medicine company announced a 27% year-over-year revenue surge to $23.3 million, a significant improvement in its bottom line, and, most critically, landmark partnerships with pharmaceutical giant AstraZeneca and the renowned Memorial Sloan Kettering Cancer Center (MSK). These moves are clear indicators of a company transitioning from a promising tech player to a pivotal force in the future of healthcare, converting a decade of scientific credibility into a tangible growth engine.

The Partnership Power Play: Forging Alliances in Precision Oncology

Beyond the impressive top-line growth, the most significant growth signals from SOPHiA GENETICS' latest report are its new strategic alliances. The company announced it has signed its first-ever companion diagnostic (CDx) programs with AstraZeneca. This multi-year agreement will see the development of two critical tests—one for solid tumors and another for hematological oncology—designed to identify patients who will best respond to specific AstraZeneca therapies.

This is more than a new revenue stream; it's a profound validation of the SOPHiA DDM™ platform's capabilities. Companion diagnostics are the linchpin of precision medicine, and for a major pharmaceutical company like AstraZeneca to select SOPHiA GENETICS as its partner signals deep trust in its technology's accuracy and scalability. While significant revenue from these programs is anticipated from 2027 onwards, the immediate impact is a major boost to the company's credibility within the lucrative biopharma sector.

Equally transformative is the new Memorandum of Understanding with Memorial Sloan Kettering to establish a joint venture. The goal is to build an 'AI Lab of the Future,' combining MSK's world-leading clinical expertise and vast data resources with SOPHiA GENETICS' AI-native platform. This collaboration aims to accelerate the development of next-generation precision oncology tools and build new multimodal clinical intelligence applications. Partnering with a premier institution like MSK not only provides an unparalleled R&D environment but also embeds SOPHiA GENETICS' technology at the heart of clinical innovation in the United States, a critical market for the company.

Fueling the Global Growth Engine

The strategic partnerships are built on a foundation of accelerating commercial momentum. The company’s 27% revenue growth was propelled by remarkable expansion in key markets and applications. Revenue in the United States surged 64% year-over-year, supported by a 60% increase in analysis volume. This indicates that major contracts signed with large U.S. integrated health systems are beginning to ramp up, converting pipeline deals into active, recurring revenue.

The company's liquid biopsy applications are another bright spot, with revenue from this segment rocketing 80% year-over-year. This less-invasive method for cancer detection and monitoring is a high-growth area in oncology, and SOPHiA GENETICS is rapidly capturing a global audience. The firm has signed 80 customers across more than 30 countries to adopt its MSK-ACCESS® liquid biopsy application, with over half still in the implementation phase, suggesting a long runway for continued growth. New customers from Belgium to Oman underscore the platform's growing international appeal.

A crucial metric underscoring the platform's value is the Net Dollar Retention (NDR), which climbed to 117%. This figure signifies that existing customers are not only staying but are spending 17% more on average than they did a year ago. This "land-and-expand" strategy, combined with the acquisition of 24 new core genomic customers in the quarter, paints a picture of a "sticky" platform that becomes deeply integrated into its clients' workflows, driving sustainable, long-term growth. The SOPHiA DDM™ platform processed a record 115,000 analyses in the quarter, a testament to its increasing adoption and scalability.

Charting a Clear Path to Profitability

Under the new leadership of CEO Ross Muken, who officially took the helm in July, SOPHiA GENETICS is pairing its aggressive growth with a sharp focus on financial discipline. Muken stated his goal is to convert the company's assets "into accelerating, profitable growth for years to come." The Q2 results show this strategy is already taking hold.

While growing revenue by 27%, the company simultaneously improved its adjusted EBITDA loss by 27% to $8.8 million. This dual achievement of rapid growth and improved operational efficiency is a strong signal to investors that the business model is maturing. The company reaffirmed its guidance to approach adjusted EBITDA breakeven by the end of 2026 and achieve positive adjusted EBITDA in the second half of 2027.

This path to profitability is now well-funded. A recent oversubscribed public offering raised approximately $57.5 million in gross proceeds, boosting the company's cash reserves to a healthy $107.7 million. Management has explicitly stated this provides sufficient capital to reach its business objectives without needing to return to the market for additional funding in the near term. These funds will be used to fuel the very initiatives driving growth: platform expansion, new application development, and market penetration, all while targeted cost actions streamline workflows and leverage AI-driven productivity gains. This disciplined approach to capital allocation and operational excellence provides a credible framework for achieving the company's ambitious profitability targets.