Sophia Genetics(US:SOPH)2023-05-08 16:00Revenue and Profitability - Revenue for Q1 2023 was $13,966 thousand, a 28.9% increase from $10,861 thousand in Q1 2022[5] - Gross profit for the period was $9,694 thousand, compared to $6,710 thousand in the same period last year, reflecting a 44.5% increase[5] - Revenue from the SOPHiA DDM Platform was $13.749 million, up from $10.431 million, indicating a growth of 31.5% year-over-year[36] - Total revenue for the three months ended March 31, 2023, was $13.966 million, representing a 28.9% increase from $10.861 million in the same period of 2022[35] Loss and Financial Performance - Operating loss decreased to $19,287 thousand in Q1 2023 from $25,021 thousand in Q1 2022, representing a 22.0% improvement[5] - Loss for the period was $19,700 thousand, down from $25,487 thousand in Q1 2022, indicating a 22.8% reduction[7] - The net loss attributed to shareholders for the three months ended March 31, 2023, was $19.700 million, an improvement from a net loss of $25.487 million in the same period of 2022[41] - Total comprehensive loss for Q1 2023 was $17,799 thousand, compared to $27,020 thousand in Q1 2022, a decrease of 34.2%[7] Cash Flow and Assets - Cash and cash equivalents at the end of Q1 2023 were $160,762 thousand, slightly down from $161,305 thousand at the end of 2022[10] - Total assets decreased to $232,058 thousand as of March 31, 2023, from $243,838 thousand at the end of 2022[10] - Accounts receivable increased to $7.696 million as of March 31, 2023, compared to $6.060 million as of December 31, 2022, reflecting a 26.9% rise[40] - The Company had no borrowings outstanding under its credit facility as of March 31, 2023[43] Shareholder Information - The company reported a basic and diluted loss per share of $0.31 for Q1 2023, an improvement from $0.40 in Q1 2022[5] - The weighted average number of shares in issue increased to 64,242,871 as of March 31, 2023, compared to 63,891,630 in the prior year[41] - The Company held 2,072,700 treasury shares as of March 31, 2023, down from 2,483,000 shares held as of March 31, 2022[30] Compensation and Expenses - Share-based compensation expense totaled $2.430 million for the three months ended March 31, 2023, compared to $3.471 million in the same period of 2022, indicating a decrease of 30%[44] - Total compensation for key management and non-executive directors decreased to $2,439,000 in Q1 2023 from $2,520,000 in Q1 2022, a decline of approximately 3.2%[47] - Share-based compensation expense reduced to $1,720,000 in Q1 2023 from $1,900,000 in Q1 2022, representing a decrease of about 9.5%[47] - Salaries and other short-term employee benefits slightly decreased to $551,000 in Q1 2023 compared to $553,000 in Q1 2022, a decline of approximately 0.4%[47] - Pension costs increased to $52,000 in Q1 2023 from $50,000 in Q1 2022, reflecting a growth of 4%[47] - Other compensation rose significantly to $116,000 in Q1 2023 from $17,000 in Q1 2022, marking an increase of approximately 582.4%[47] Other Information - The Company operates in a single operating segment, with financial performance assessed as such by senior management[34] - There were no material subsequent events reported after the reporting date[48]