olivlawolivlaw

olivLaw · US equity research

SOPHiA GENETICS SA SOPH

Services-Computer Processing & Data Preparation · SIC 7374 · Vertical: Services-Computer Processing & Data Preparation (SIC 7374)

6.97USD+0.87% · 1 dayClose 04 Nov 2026

SOPHiA GENETICS SA develops a cloud software platform, SOPHiA DDM, that standardizes and analyses multimodal medical data across decentralized networks of hospitals, laboratories and biopharma companies. The company grew revenue 19% in 2025, to 77.3 million USD, but remains loss-making, which makes it relevant to assess how its model could scale.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, SOPHiA GENETICS SA (SOPH) stock was 6.97 USD (+0.87% on the day), with market capitalisation 477.3 m USD, beta 1.19, 52-week range 3.89–8.92 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
477.3 m USD
shares as of 31 Dec 2025
P/E (TTM)
unavailable
Diluted EPS TTM -1.17 · TTM to 31 Dec 2025
E/P (TTM)
-16.79%
TTM to 31 Dec 2025
Dividend yield
unavailable
Beta (2y)
1.19
Volatility (1y) 61%
52-week range
3.898.92

Price history

Loading chart…

Technical reading

RSI (14)
42.8
weak (30–45)
Bollinger (20, 2)
6.53 – 7.95
in the lower half of the band · %B 0.31 · band width 19.6%
SMA 50 / 200
7.78 / 5.98
mixed trend
MACD (12, 26, 9)
-0.12 / -0.11
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−15.0%−1.1%−13.9 pp—
3 months+10.6%−0.5%+11.1 pp—
6 months+38.8%+4.4%+34.5 pp—
Year to date+49.3%+12.3%+36.9 pp—
1 year+48.9%+13.5%+35.4 pp−12.8%
3 years+71.3%+76.4%−5.2 pp−17.6%
5 years−55.1%+63.7%−118.8 pp—
Max drawdown (1y)
−27.2%
27 Aug 2026 → 19 Oct 2026
Max drawdown (5y)
−89.3%
08 Nov 2021 → 09 Nov 2022
Compound annual growth (5y)
−14.8%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year2019202020212022202320242025
Revenue25.4 m28.4 m40.5 m47.6 m62.4 m65.2 m77.3 m
Revenue YoYunavailable+12.0%+42.4%+17.6%+31.1%+4.5%+18.6%
Net income-33.8 m-39.3 m-73.7 m-87.4 m-79.0 m-62.5 m-79.0 m
Net income YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailable
Diluted EPSunavailable-0.93-1.33-1.36-1.22-0.95-1.17
Diluted EPS YoYunavailableunavailableunavailableunavailableunavailableunavailableunavailable
net %-133.2%-138.5%-182.1%-183.9%-126.6%-95.9%-102.2%
Free cash flow-33.0 m-32.2 m-60.6 m-74.2 m-54.7 m-44.8 m-36.5 m

Reported results vs expectations

Loading…

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
70.3 m USD
Financial debt
47.7 m USD
Net debt
-22.6 m USD
Equity
47.1 m USD
Total assets
163.0 m USD
Debt / equity
1.01x
Current ratio
1.96x
ROE
-110.0%
ROA
-49.6%
FCF margin
-47.2%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
62.4 m
2024
65.2 m
2025
77.3 m

SEC (XBRL)· 03 Mar 2026verified

Cost of revenue
2023
19.5 m
2024
21.2 m
2025
25.2 m

SEC (XBRL)· 03 Mar 2026verified

Gross profit
2023
42.9 m
2024
43.9 m
2025
52.1 m

SEC (XBRL)· 03 Mar 2026verified

Research & development
2023
37.0 m
2024
34.4 m
2025
34.2 m

SEC (XBRL)· 03 Mar 2026verified

Operating income
2023
-74.8 m
2024
-66.6 m
2025
-70.9 m

SEC (XBRL)· 03 Mar 2026verified

Pre-tax income
2023
-78.5 m
2024
-61.3 m
2025
-77.5 m

SEC (XBRL)· 03 Mar 2026verified

Income tax
2023
486.0 k
2024
1.2 m
2025
1.5 m

SEC (XBRL)· 03 Mar 2026verified

Net income
2023
-79.0 m
2024
-62.5 m
2025
-79.0 m

SEC (XBRL)· 03 Mar 2026verified

Diluted EPS
2023
-1.22
2024
-0.95
2025
-1.17

SEC (XBRL)· 03 Mar 2026verified

Weighted average diluted shares
2023
64.8 m
2024
66.1 m
2025
67.5 m

SEC (XBRL)· 03 Mar 2026verified

Balance sheet · USD

Cash
2023
123.3 m
2024
80.2 m
2025
70.3 m

SEC (XBRL)· 03 Mar 2026verified

Receivables
2023
13.6 m
2024
7.4 m
2025
15.0 m

SEC (XBRL)· 03 Mar 2026verified

Inventories
2023
6.5 m
2024
5.9 m
2025
6.4 m

SEC (XBRL)· 03 Mar 2026verified

Current assets
2023
148.0 m
2024
99.4 m
2025
99.1 m

SEC (XBRL)· 03 Mar 2026verified

Property, plant & equipment, net
2023
7.5 m
2024
5.2 m
2025
5.7 m

SEC (XBRL)· 03 Mar 2026verified

Intangibles (excl. goodwill)
2023
27.2 m
2024
29.0 m
2025
35.9 m

SEC (XBRL)· 03 Mar 2026verified

Total assets
2023
206.2 m
2024
155.3 m
2025
163.0 m

SEC (XBRL)· 03 Mar 2026verified

Short-term debt
2023
—
2024
—
2025
—

SEC (XBRL)· 15 Mar 2022verified

Long-term debt
2023
0
2024
13.2 m
2025
47.7 m

SEC (XBRL)· 03 Mar 2026verified

Current liabilities
2023
35.6 m
2024
26.8 m
2025
50.5 m

SEC (XBRL)· 03 Mar 2026verified

Total liabilities
2023
54.7 m
2024
58.8 m
2025
115.9 m

SEC (XBRL)· 03 Mar 2026verified

Equity
2023
151.4 m
2024
96.5 m
2025
47.1 m

SEC (XBRL)· 03 Mar 2026verified

Shares outstanding at year end
2023
65.2 m
2024
66.7 m
2025
68.5 m

SEC (XBRL)· 03 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
-53.2 m
2024
-44.5 m
2025
-35.9 m

SEC (XBRL)· 03 Mar 2026verified

Capex
2023
1.5 m
2024
244.0 k
2025
574.0 k

SEC (XBRL)· 03 Mar 2026verified

Free cash flow
2023
-54.7 m ≈
2024
-44.8 m ≈
2025
-36.5 m ≈

SEC (XBRL)· 03 Mar 2026derived

Investing cash flow
2023
13.0 m
2024
-4.8 m
2025
-8.7 m

SEC (XBRL)· 03 Mar 2026verified

Financing cash flow
2023
-2.8 m
2024
9.9 m
2025
30.2 m

SEC (XBRL)· 03 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
18.6%
computed by olivLawFY 2025
Revenue CAGR 3Y
17.6%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
22.2%
computed by olivLawFY 2020 → FY 2025
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
the base of the ratio is not positive
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
67.4%
computed by olivLawFY 2025
EBITDA margin
unavailable
input data missing
EBIT margin
-91.8%
computed by olivLawFY 2025
Net margin
-102.2%
computed by olivLawFY 2025
FCF margin
-47.2%
computed by olivLawFY 2025

Returns

ROE
-110.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
-49.6%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
-220.2%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROCE
-63.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
-22.6 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Net debt / EBITDA
unavailable
input data missing
Debt / equity
1.0x
computed by olivLawbalance sheet at 31 Dec 2025
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
2.0x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
1.4x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
-35.9 m USD
computed by olivLawFY 2025
Capital expenditure
574.0 k USD
computed by olivLawFY 2025
Free cash flow
-36.5 m USD
computed by olivLawFY 2025
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
53 days
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Days payables outstanding
unavailable
input data missing

Market and valuation

Market capitalisation
477.3 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
454.8 m USD
computed by olivLawbalance sheet at 31 Dec 2025
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-16.8%
computed by olivLawFY 2025
P/B
10.1x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
6.2x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
insufficient data
EV/Sales
5.9x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-7.6%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

4 indicators that do not apply to the sector.

Valuation

olivLaw classification

Unattractive profile

Score: 38 / 100

A scoring methodology on indicators and valuation, not investment advice.

score < 40

Closing price

6.97 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 477.3 m USD

Key indicators

Market capitalisation
477.3 m USD
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
unavailable
insufficient data
P/B
10.1x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
-110.0%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
-102.2%
computed by olivLawFY 2025
Revenue growth (YoY)
18.6%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

28/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: SEC (XBRL)published 03 Mar 2026
verified 181

Score by group

  • Quality33
  • Growth71
  • Valuation8
  • Balance sheet68

Estimated value range

Low
1.34
USD per share
Mid
2.41
USD per share
High
5.03
USD per share
Price: 6.97 USD
The price is above the range
Potential to the central value: -65.4% (value / price − 1)
Margin of safety: -188.9% (1 − price / value)
Agreement between methods: single method · 1 methods used · 1 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1.34 – 5.03 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/Sales1.34 – 5.03 (Mid 2.41)
    10 companies used · median multiple 1.8x · quartiles 0.9x – 4.2x
    ADP, EGHT, EVTC, IBEX, OOMA, PLTK, SY, VRSK, WDAY, YEXT
  • Peers: EV/EBITDAunavailable · input data missing
Multiple comparisons use the SIC vertical: Services-Computer Processing & Data Preparation (SIC 7374)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Unattractive profile · Score 38/100

FactorValueScoreWeight used
Gross margin · Quality67.4%68 (on a fixed band)12%
EBIT margin · Quality-91.8%22 (vs peers)10%
FCF margin · Quality-47.2%0 (on a fixed band)10%
Revenue CAGR 3Y · Growth17.6%70 (on a fixed band)19%
Revenue growth (YoY) · Growth18.6%71 (vs peers)10%
Net debt / EBITDA · Balance sheetunavailableunavailable—
Current ratio · Balance sheet2.0x68 (on a fixed band)7%
EV/Sales · Valuation5.9x14 (vs peers)19%
FCF yield · Valuation-7.6%0 (on a fixed band)14%
Shareholder yield (distributions) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial68/100 · 1/2 factors with a value
  • Growth71/100 · 2/2 factors with a value
  • Quality33/100 · 3/3 factors with a value
  • Returns· partialunavailable · 0/1 factors with a value
  • Valuation8/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

SOPHiA GENETICS SA (SOPH). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 77.3 m USD in 2025; YoY growth 18.6%; net margin -102.2%; ROE -110.0%.

The estimated value range is 1.34–5.03 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 2.41 USD, the price of 6.97 USD leaves a potential of -65.4% (value / price − 1) and a margin of safety of -188.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 38/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, returns. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 17.6%
  • Revenue growth (YoY): 18.6%

What contradicts it

  • EBIT margin: -91.8%
  • FCF margin: -47.2%
  • EV/Sales: 5.9x
  • FCF yield: -7.6%
  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA, Shareholder yield (distributions).

Versus the vertical median

Services-Computer Processing & Data Preparation (SIC 7374) · same industry (4-digit SIC) · compared with 39 companies

Multiples and returns vs the median

P/E
—
vertical median 30.1x
EV/EBITDA
—
vertical median 13.3x
P/S
6.2x
vertical median 1.3x
above median (+369.3%)
P/B
10.1x
vertical median 0.7x
above median (+1,432.6%)
ROE
-110.0%
vertical median 5.9%
below median (−1,974.6%)
Net margin
-102.2%
vertical median 1.3%
below median (−7,718.9%)
EBIT margin
-91.8%
vertical median -3.4%
below median
Revenue YoY
18.6%
vertical median 8.4%
above median (+120.6%)
Net debt/EBITDA
—
vertical median 1.2x
Dividend yield
—
vertical median 0.9%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
ADPAutomatic Data Processing, Inc.119.8 bn27.777.0%20.1%+6.7%+19% / +32%
WDAYWorkday, Inc.44.4 bn40.916.0%12.3%+13.1%−6% / −25%
VRSKVerisk Analytics, Inc.25.9 bn30.1—29.3%+6.6%−12% / −18%
ATHMAutohome Inc.10.4 bn53.56.3%443.2%+11.1%−5% / −18%
FIRYFiry Inc.4.3 bn—-63.0%-60.2%+12.5%+107% / +94%
EVTCEVERTEC, Inc.2.1 bn22.914.4%9.0%+10.2%+20% / −6%
INFQInfleqtion, Inc.1.9 bn—-70.8%—unavailableunavailable / unavailable
INODInnodata Inc1.5 bn32.837.7%14.7%+47.6%−25% / +541%
PLTKPlaytika Holding Corp.808.6 m——-9.9%+8.1%−48% / −76%
YEXTYext, Inc.775.0 m40.627.8%5.9%+6.1%−7% / +18%
IBEXIBEX Limited593.6 m14.330.4%7.2%+15.4%+27% / +152%
OOMAOoma, Inc.524.7 m49.811.7%3.6%+6.5%+69% / +64%
SOPHSOPHiA GENETICS SA477.3 m—-110.0%-102.2%+18.6%+49% / +71%
GRVYGravity Co., Ltd.475.7 m0.016.5%17.0%−31.0%+19% / −6%
SOHUSohu.com Limited355.1 m1.035.8%67.4%−2.4%−12% / +70%
EGHT8x8, Inc.326.4 m55.53.5%0.6%+2.9%+16% / −27%
SYSo-Young International Inc.146.7 m—-14.6%-15.9%+8.4%−29% / +86%
TCXTucows Inc140.3 m——-21.2%+7.7%−42% / −41%
DTCXDatacentrex, Inc.39.8 m—-36.2%-165.4%+939,640.5%−75% / −81%
DGNXDiginex Limited38.7 m——-255.5%+57.0%−99% / unavailable
PHUNPhunware, Inc.36.6 m—-13.7%-471.7%−19.9%−14% / −69%
DDIDoubleDown Interactive Co., Ltd.34.1 m0.311.4%28.5%+5.5%+48% / +72%
SJScienjoy Holding Corporation23.5 m—-66.6%-47.3%−4.9%+28% / −68%
CHRCheer Holding, Inc.14.0 m0.17.6%17.2%+1.1%−77% / −100%
VSVersus Systems Inc.5.6 m—-14.6%-78.4%+3,711.3%−40% / −69%

1- and 3-year price returns: for SOPH from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 03 Mar 2026; since then the company filed 6-K (03 Nov 2026), 6-K (04 Aug 2026), 6-K (22 Jun 2026), 6-K (04 Jun 2026), 6-K (19 May 2026).

    In brief

    SOPHiA GENETICS SA develops a cloud software platform, SOPHiA DDM, that standardizes and analyses multimodal medical data across decentralized networks of hospitals, laboratories and biopharma companies. The company grew revenue 19% in 2025, to 77.3 million USD 1, but remains loss-making, which makes it relevant to assess how its model could scale.

    SWOT

    Strengths

    • The platform has a broad customer base and a collaboration network that grows with usage 1.
    • The decentralized model keeps samples and data with the customer, which can ease adoption where privacy concerns are strong 1.
    • The company has built market access through direct sales and distributors 1.

    Weaknesses

    • The company has recurring net losses and a large accumulated deficit, and says it may never achieve sustained profitability 1.
    • Dependence on qualified personnel and senior management could make rapid scaling of technical support difficult 1.
    • Products are mainly sold as research use only in the US, which limits direct clinical use 1.

    Opportunities

    • Expansion into cardiology and neurology, where adoption is still early, could open new customer segments 1.
    • North America and East Asia are described as under-penetrated and could add further growth 1.
    • If diagnostic approvals were obtained, the products could be used for broader clinical purposes 1.

    Threats

    • The Guardant Health litigation could generate extra costs and could limit product development in some jurisdictions 1.
    • Competitors with much greater financial resources could reduce the company's market share 1.
    • Changes in health data regulation and in FPI status could raise compliance costs 1.

    Risks

    • Patent litigation in Europe and the UKhigh

      Guardant Health has brought actions against the MSK-Access test; proceedings are ongoing and the source notes an adverse ruling could affect commercialization in some jurisdictions 1.

    • Recurring losseshigh

      The company says it expects to keep incurring net losses for the foreseeable future and cannot be sure it will reach profitability 1.

    • Dependence on RUO statusmedium

      Products are labelled for research use in the US, and regulatory changes could reduce demand or require further approvals 1.

    • Data securitymedium

      Cyberattacks or data breaches could generate costs, lost revenue and reputational harm, which the source lists as an explicit risk 1.

    • Dependence on key personnellow

      The company says it relies heavily on senior management and qualified technical staff, and losing them could affect operations 1.

    Investment thesis

    What would need to be true (bull case)

    • Revenue growth in 2025 and a broad customer base suggest the platform-access model can keep scaling 1.
    • If multimodal adoption accelerates, the platform could benefit from demand for integrated analytics 1.
    • Opening new markets such as North America and East Asia could add growth in the coming period 1.

    What would break the thesis

    • Recurring losses and the accumulated deficit could limit the company's ability to fund investment without new capital 1.
    • The Guardant Health litigation could absorb management attention and add legal costs 1.
    • If European rules favoured centralized architectures, the decentralized model could lose relevance 1.

    What to watch

    • Guardant's payment of the interim costs award and the outcome of the full-costs applicationQ1 2026
    • Progress of the UK and EU proceedings over the MSK-Access test2026
    • SEC decision on the foreign private issuer definition2026
    • Development of revenue and customer count in the next annual reportnext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    Possibly outdated: the newest document it read is from 03 Mar 2026; since then the company filed 6-K (03 Nov 2026), 6-K (04 Aug 2026), 6-K (22 Jun 2026), 6-K (04 Jun 2026), 6-K (19 May 2026).

    The business

    The company, incorporated as a Swiss stock corporation and listed on Nasdaq under the ticker SOPH, offers a cloud software platform that standardizes, computes and analyses digital health data. The platform is used in decentralized locations, so customers keep their data while insights are shared across sites to build collective intelligence 1. The commercial model is based on platform access charged per analysis, and the company says its platform supported the analysis of about 2.3 million genomic profiles 1. As of December 31, 2025 it served 993 hospital, laboratory and biopharma customers, of which 528 were core genomics customers 1.

    The 'land and expand' model first wins a new customer, then increases usage through the direct sales force, which can add germline testing, somatic oncology testing and extra users in radiology or pathology 1. The company argues that its decentralized architecture, in which the customer keeps its sample and data, differentiates it from centralized laboratory models. However, the source notes the platform is mainly commercialized as RUO and CE-IVD, and in the US products are labelled for research use only 1.

    The platform covers oncology, rare diseases, infectious diseases, cardiology, neurology and metabolism 1. SOPHiA CarePath, unveiled in 2022, combines genomic, radiomic, clinical and biological data for longitudinal monitoring of patients, and the company links it to the Digital Twins tool for simulating potential treatment outcomes 1. The company operates in 75 countries, with direct sales in 60 and distributors in 50 others 1.

    Segments

    SOPHiA DDM platform and clinical applications

    The main segment provides access to the SOPHiA DDM platform and applications for clinical laboratories and hospitals, through dry lab, bundle and integrated access models 1. Clinical customers are mainly academic and non-academic hospitals and reference laboratories, and the company cites a total addressable market of about 25 billion USD for current commercial clinical applications 1.

    Applications for biopharma companies

    The second segment sells solutions to pharmaceutical, biotechnology and contract research companies for clinical studies and drug development 1. The company estimates about 15 billion USD of market for current biopharma applications 1. The source does not give a separate revenue breakdown by segment, so the figures cannot be compared across segments.

    Market context

    The company describes data-driven medicine as expanding rapidly, fuelled by NGS, radiomics, digital pathology and proteomics 1. Its estimates for the addressable market are about 25 billion USD for clinical applications and 15 billion USD for biopharma applications in 2025 1. These are company estimates, not independent data.

    The source indicates adoption is still early in cardiology, neurology, metabolism and infectious diseases, where the company sees growth opportunities 1. Japan and North America are described as under-penetrated and targeted for additional sales-force investment 1.

    Trends

    • Data-driven medicine and multimodalitytailwind

      Demand for analytics that combine genomics with imaging, pathology and proteomics is rising as oncologists seek longitudinal disease insights 1. The platform is positioned for this demand, though the source says success depends on developing new features and data modalities 1.

    • LDT regulationmixed

      The FDA's LDT final rule was vacated in April 2025 and formally removed in September 2025, so LDTs remain under CLIA 1. The company says the rule, if it had applied, would have raised cost and time to market, which could have reduced demand for its RUO products 1.

    • European health data regulationheadwind

      Initiatives such as the European Health Data Space could introduce centralized architectures for electronic health records instead of direct sharing between providers, which could limit adoption of the company's decentralized model 1.

    • Foreign private issuer statusheadwind

      The SEC is reviewing the FPI definition, and some proposals could require listing on a home-country exchange, which could add obligations for the company 1. The outcome is uncertain at the time of reporting 1.

    Competitive position

    The company says it faces competition from many sources, some with much greater financial resources 1. The source explicitly identifies a patent dispute with Guardant Health, which has brought actions in the UK and the EU against the company's MSK-Access test 1. The source does not name other competitors.

    • Guardant HealthGH

      Counterparty in the UK and EU patent dispute over the MSK-Access test; the UPC rejected provisional measures, but proceedings continue 1.

    • Genomic analysis providers and integrated laboratory services

      The source refers to competitors with greater financial resources, without naming them, offering analysis or integrated laboratory services 1.

    • AI platform developers for medical data

      Competition also comes from alternative multimodal data analytics solutions, which the company considers less globally scalable 1.

    • Centralized electronic health record architectures

      Centralized models promoted through European regulation could compete with the company's decentralized platform 1.

    News & filings

    Sources

    1. [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / SOPHiA GENETICS SA · 03 Mar 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.