Sophia Genetics(US:SOPH) Prnewswire·2025-03-04 11:45Core Insights - SOPHiA GENETICS reported financial results for Q4 and FY 2024, highlighting a record number of analyses and new customer acquisitions despite challenges in the BioPharma sector [2][6][20] Financial Highlights - Q4 2024 revenue was $17.7 million, a 4% increase year-over-year, and FY 2024 revenue reached $65.2 million, also up 4% year-over-year [6][22] - Gross margin for Q4 2024 was 68.2% on a reported basis and 74.2% on an adjusted basis, compared to 69.8% and 73.4% in the prior year [6][32] - Operating loss for Q4 2024 was $17.4 million, improving by 8% year-over-year, while FY 2024 operating loss was $66.6 million, improving by 11% year-over-year [6][22] Business Highlights - The company performed a record 352,000 analyses in FY 2024, representing an 11% year-over-year volume growth [7] - SOPHiA GENETICS expanded its customer base to 472 core genomics customers by the end of FY 2024, up from 450 at the end of Q4 2023 [7] - The company signed a record 92 new customers in FY 2024, including 31 in Q4 2024, who will implement SOPHiA DDM™ and begin generating revenue [7] Product Development and Market Expansion - The launch of the Liquid Biopsy application MSK-ACCESS® in Q2 2024 attracted 34 customers, with 15 implementations completed by the end of FY 2024 [7][10] - The company entered into a collaboration with Genesis Healthcare Co. in Japan to enhance access to genomic testing and support BioPharma companies [7] - SOPHiA GENETICS is focused on operational excellence, with an adjusted operating loss improvement of 23% year-over-year in Q4 2024 [10] 2025 Financial Outlook - The company expects full-year revenue between $72 million and $76 million, representing growth of approximately 10% to 17% compared to FY 2024 [10] - Adjusted EBITDA loss is projected to be between $35 million and $39 million, compared to $40.2 million in FY 2024 [10]