SOPH | Market Cap: $410.6M (07/13/26)
Industry:
Software
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DESCRIPTION

SOPHiA GENETICS sells cloud-based genomic data analytics software to hospitals, clinical labs, and biopharma companies. The core product is the SOPHiA DDM platform, a SaaS platform that ingests raw DNA sequencing data and other health data, then generates clinically actionable insights — identifying cancer mutations, guiding therapy selection, or matching patients to clinical trials. Oncology is the dominant use case, accounting for roughly 73% of clinical revenue, with the remainder covering rare diseases, cardiology, neurology, and other areas. SOPHiA also sells the Alamut suite, a mutation interpretation add-on for deeper rare disease analytics. SOPHiA operates on a pay-per-use model — customers access the platform for free but pay per analysis run — so revenue scales as customers run more tests and adopt more applications. Three access tiers exist: dry lab (customers supply their own sequencers), bundle (SOPHiA packages third-party instruments with its software), and integrated (samples are routed to partner labs). Revenue churn is roughly 0.1%, reflecting deep workflow integration and high switching costs. SOPHiA also serves biopharma customers with real-world data analytics, clinical trial patient matching, and companion diagnostic development, anchored by a multi-year collaboration with AstraZeneca. SOPHiA sells directly through ~105 sales reps across 60 countries. Growth is focused on new customer onboarding, U.S. market expansion, and higher-ASP applications like the MSK-ACCESS liquid biopsy product. SOPHiA is not yet profitable and targets positive adjusted EBITDA in the second half of 2027.

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