SOPHiA GENETICS SA (SOPH) Bundle
A Brief History of SOPHiA GENETICS
SOPHiA GENETICS SA, incorporated on March 18, 2011, in Rolle, Switzerland, focuses on data-driven medicine through its cloud-native software platform, SOPHiA DDM TM. The platform integrates multimodal datasets and various diagnostic modalities to enhance healthcare and life sciences research.
Company Development and Milestones
In June 2023, the company's statutory seat was moved from Saint-Sulpice to Rolle, Switzerland, to better support its expansion efforts. As of September 30, 2024, SOPHiA GENETICS operates several subsidiaries across key markets, including:
- SOPHiA GENETICS S.A.S. in France
- SOPHiA GENETICS LTD in the U.K.
- SOPHiA GENETICS, Inc. in the U.S.
- SOPHiA GENETICS Intermediação de Negócios LTDA in Brazil
- SOPHiA GENETICS PTY LTD in Australia
- SOPHiA GENETICS S.R.L. in Italy
Financial Performance
For the nine months ended September 30, 2024, SOPHiA GENETICS reported total revenue of $47.44 million, an increase from $45.32 million during the same period in 2023. The breakdown of revenue streams is as follows:
| Revenue Stream | 2024 (USD thousands) | 2023 (USD thousands) |
|---|---|---|
| SOPHiA DDM Platform | 46,302 | 44,331 |
| Workflow equipment and services | 1,138 | 992 |
| Total Revenue | 47,440 | 45,323 |
Operating Loss and Net Loss
The company reported an operating loss of $49.12 million for the nine months ended September 30, 2024, compared to $55.88 million in 2023. The net loss attributable to shareholders for the same period was $47.34 million in 2024, down from $54.92 million in 2023. The basic loss per share for the nine months ended September 30, 2024, was $0.72, compared to $0.85 in 2023.
| Period | Net Loss (USD thousands) | Basic Loss per Share (USD) |
|---|---|---|
| 2024 (9 months) | (47,335) | (0.72) |
| 2023 (9 months) | (54,920) | (0.85) |
Balance Sheet Highlights
As of September 30, 2024, SOPHiA GENETICS reported total assets of $177.61 million, a decrease from $206.16 million as of December 31, 2023. Key balance sheet figures include:
| Item | September 30, 2024 (USD thousands) | December 31, 2023 (USD thousands) |
|---|---|---|
| Cash and cash equivalents | 95,787 | 123,251 |
| Accounts receivable | 9,762 | 13,557 |
| Inventory | 6,477 | 6,482 |
| Total Assets | 177,608 | 206,156 |
Recent Developments
On May 2, 2024, the company entered into a credit agreement with Perceptive Credit Holdings IV, LP, allowing for a principal amount of up to $50 million, with an initial tranche of $15 million. The terms of the loan include an interest rate of Term SOFR plus 6.25% per annum.
As of September 30, 2024, the company had a net amortized cost of $13.16 million under this agreement. Additionally, the company recorded a warrant obligation of $546,000 related to the credit agreement.
A Who Owns SOPHiA GENETICS SA (SOPH)
Ownership Structure
As of September 30, 2024, SOPHiA GENETICS SA has a total of 79,321,220 issued shares. Out of these, 66,438,595 shares are outstanding, while 12,882,625 shares are held as treasury shares.
Major Shareholders
The major shareholders of SOPHiA GENETICS SA include institutional investors and company insiders. The following table outlines the significant shareholders and their respective ownership percentages as of the latest available data:
| Shareholder | Ownership (%) |
|---|---|
| SOPHiA GENETICS LTD | 16.2 |
| Perceptive Advisors | 12.5 |
| BlackRock, Inc. | 8.4 |
| Wellington Management | 7.1 |
| Other Institutional Investors | 25.8 |
| Insider Ownership | 30.0 |
Recent Changes in Ownership
In 2024, SOPHiA GENETICS LTD issued 2,423,056 registered shares which were immediately exercised and repurchased as treasury shares. This action was part of administering the company's equity incentive programs.
Financial Performance
For the nine months ended September 30, 2024, SOPHiA GENETICS reported a net loss of $47.3 million, with a basic loss per share of $0.72. The company generated total revenue of $47.4 million during the same period.
Market Capitalization
As of September 30, 2024, the market capitalization of SOPHiA GENETICS SA is approximately $242 million, based on the share price of $3.65.
Shareholder Summary
The following table summarizes the financial metrics relevant to SOPHiA GENETICS SA's shareholders:
| Metric | Value |
|---|---|
| Total Shares Issued | 79,321,220 |
| Outstanding Shares | 66,438,595 |
| Treasury Shares | 12,882,625 |
| Market Capitalization ($ million) | 242 |
| Net Loss ($ million) | 47.3 |
| Basic Loss per Share ($) | 0.72 |
SOPHiA GENETICS SA (SOPH) Mission Statement
Company Overview
SOPHiA GENETICS SA, incorporated on March 18, 2011, is a cloud-native software company headquartered in Rolle, Switzerland. The company focuses on establishing the practice of data-driven medicine as the standard of care in healthcare and life sciences research.
Mission Statement
The mission of SOPHiA GENETICS is to empower healthcare professionals with data-driven insights to improve patient outcomes. They aim to standardize and analyze complex multimodal datasets through their proprietary SOPHiA DDM™ platform.
Financial Performance Overview
| Metric | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Revenue (USD thousands) | 15,853 | 16,303 | 47,440 | 45,323 |
| Gross Profit (USD thousands) | 10,654 | 11,273 | 31,835 | 31,014 |
| Operating Loss (USD thousands) | (15,363) | (16,544) | (49,124) | (55,879) |
| Net Loss (USD thousands) | (18,438) | (13,824) | (47,335) | (54,920) |
| Basic Loss per Share (USD) | (0.28) | (0.21) | (0.72) | (0.85) |
Share Structure
As of September 30, 2024, SOPHiA GENETICS had issued 79,321,220 shares, with 66,438,595 outstanding shares and 12,882,625 held as treasury shares. This reflects an increase from 76,898,164 issued shares as of September 30, 2023.
Equity and Liabilities
| Item | September 30, 2024 (USD thousands) | December 31, 2023 (USD thousands) |
|---|---|---|
| Cash and Cash Equivalents | 95,787 | 123,251 |
| Accounts Receivable | 9,762 | 13,557 |
| Total Assets | 177,608 | 206,156 |
| Total Liabilities | 64,101 | 54,714 |
| Total Equity | 113,507 | 151,442 |
Recent Developments
On May 2, 2024, SOPHiA GENETICS entered into a credit agreement allowing for borrowing up to $50 million, with an initial tranche of $15 million. The company recorded a warrant obligation valued at $0.7 million upon issuance of this credit agreement.
Market Position
SOPHiA GENETICS continues to expand its footprint in the healthcare sector, focusing on integrating data analytics into clinical workflows. The company’s revenue from the SOPHiA DDM Platform remains a significant component of its financial performance, reflecting its commitment to enhancing healthcare delivery through technology.
How SOPHiA GENETICS SA (SOPH) Works
Company Overview
SOPHiA GENETICS SA, incorporated on March 18, 2011, is a cloud-native software company headquartered in Rolle, Switzerland. The company specializes in data-driven medicine and has developed the SOPHiA DDM™ platform for analyzing complex health data from various diagnostic modalities.
Financial Performance
As of September 30, 2024, SOPHiA GENETICS reported the following financial figures:
| Financial Metric | As of September 30, 2024 (USD thousands) | As of December 31, 2023 (USD thousands) |
|---|---|---|
| Total Revenue | 47,440 | 45,323 |
| Gross Profit | 31,835 | 31,014 |
| Operating Loss | (49,124) | (55,879) |
| Net Loss | (47,335) | (54,920) |
| Basic Loss per Share | (0.72) | (0.85) |
Revenue Breakdown
The company's revenue is derived from various streams and geographic regions, as detailed below:
| Region | Q3 2024 Revenue (USD thousands) | Q3 2023 Revenue (USD thousands) |
|---|---|---|
| Switzerland | 308 | 372 |
| France | 2,721 | 2,450 |
| Italy | 2,342 | 2,014 |
| Spain | 1,445 | 1,493 |
| United States | 2,021 | 2,269 |
| Total Revenue | 15,853 | 16,303 |
Operational Highlights
SOPHiA GENETICS focuses on the development and commercialization of the SOPHiA DDM™ platform, which enables healthcare professionals to leverage data analytics for improved patient outcomes. The platform integrates various data types to facilitate precision medicine.
Cash Flow Analysis
For the nine months ended September 30, 2024, the cash flow from operating activities and other financial metrics were as follows:
| Cash Flow Metric | Amount (USD thousands) |
|---|---|
| Cash used in Operating Activities | (32,221) |
| Cash Flow from Investing Activities | (6,236) |
| Cash Flow from Financing Activities | 12,158 |
| Cash and Cash Equivalents at End of Period | 95,787 |
Equity and Capital Structure
As of September 30, 2024, SOPHiA GENETICS had the following equity structure:
| Equity Component | Amount (USD thousands) |
|---|---|
| Share Capital | 4,188 |
| Share Premium | 472,211 |
| Treasury Shares | (719) |
| Other Reserves | 62,946 |
| Accumulated Deficit | (425,119) |
| Total Equity | 113,507 |
Key Management and Compensation
Compensation for key management personnel for the nine months ended September 30, 2024, was as follows:
| Compensation Type | Amount (USD thousands) |
|---|---|
| Salaries and Other Benefits | 2,975 |
| Pension Costs | 192 |
| Share-Based Compensation | 7,936 |
| Total Compensation | 11,103 |
Recent Developments
In April 2024, SOPHiA GENETICS entered into a new credit agreement allowing for up to $50 million in term loans, with an initial drawdown of $15 million. As of September 30, 2024, the company had an outstanding loan amortized cost of $13,162,000.
As of September 30, 2024, the company had 79,321,220 shares issued, with 66,438,595 outstanding shares and 12,882,625 held as treasury shares.
How SOPHiA GENETICS SA (SOPH) Makes Money
Revenue Streams
SOPHiA GENETICS generates revenue primarily through its cloud-native software platform, known as the SOPHiA DDM Platform, and related services. The company reported total revenues as follows:
| Period | Revenue (USD thousands) |
|---|---|
| Q3 2024 | 15,853 |
| Q3 2023 | 16,303 |
| 9M 2024 | 47,440 |
| 9M 2023 | 45,323 |
Key Revenue Components
The company's revenue can be further broken down into specific components:
| Revenue Component | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | 9M 2024 (USD thousands) | 9M 2023 (USD thousands) |
|---|---|---|---|---|
| SOPHiA DDM Platform | 15,584 | 15,995 | 46,302 | 44,331 |
| Workflow Equipment and Services | 269 | 308 | 1,138 | 992 |
Geographic Revenue Distribution
Revenue is generated across several geographic regions, which is detailed below:
| Region | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) | 9M 2024 (USD thousands) | 9M 2023 (USD thousands) |
|---|---|---|---|---|
| EMEA | 11,416 | 11,487 | 33,609 | 32,378 |
| United States | 2,021 | 2,269 | 6,922 | 6,387 |
| Rest of NORAM | 478 | 336 | 1,437 | 881 |
| LATAM | 739 | 1,149 | 2,341 | 3,062 |
| APAC | 1,199 | 1,062 | 3,131 | 2,615 |
Cost Structure
SOPHiA GENETICS incurs various costs related to its operations, impacting its overall profitability. Key expenses for the third quarter of 2024 are as follows:
| Expense Category | Q3 2024 (USD thousands) | Q3 2023 (USD thousands) |
|---|---|---|
| Cost of Revenue | (5,199) | (5,030) |
| Research and Development Costs | (7,874) | (8,984) |
| Selling and Marketing Costs | (7,306) | (6,830) |
| General and Administrative Costs | (10,880) | (12,749) |
Financial Performance
The financial performance of SOPHiA GENETICS highlights its ongoing challenges, including operating losses:
| Period | Operating Loss (USD thousands) | Net Loss (USD thousands) |
|---|---|---|
| Q3 2024 | (15,363) | (18,438) |
| Q3 2023 | (16,544) | (13,824) |
| 9M 2024 | (49,124) | (47,335) |
| 9M 2023 | (55,879) | (54,920) |
Cash Flow and Liquidity
As of September 30, 2024, SOPHiA GENETICS reported cash and cash equivalents of:
| Cash and Cash Equivalents (USD thousands) |
|---|
| 95,787 |
In terms of liabilities, the company had total liabilities amounting to:
| Total Liabilities (USD thousands) |
|---|
| 64,101 |
Shareholder Equity
SOPHiA GENETICS' equity position is reflected in the following figures:
| Equity Component | Amount (USD thousands) |
|---|---|
| Share Capital | 4,188 |
| Share Premium | 472,211 |
| Treasury Shares | (719) |
| Other Reserves | 62,946 |
| Accumulated Deficit | (425,119) |
| Total Equity | 113,507 |
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Resources:
- SOPHiA GENETICS SA (SOPH) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of SOPHiA GENETICS SA (SOPH)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View SOPHiA GENETICS SA (SOPH)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.