Business
SOPHiA GENETICS Reports Fourth Quarter and Full Year 2021 Financial Results
Revenues Grew 40% for the Fourth Quarter and 42% for Full Year 20212022 Guidance Reaffirmed BOSTON and LAUSANNE, Switzerland, March 15, 2022 (GLOBE NEWSWIRE)
About this update from Sophia Genetics Sa
[{"type":"text","content":"Revenues Grew 40% for the Fourth Quarter and 42% for Full Year 20212022 Guidance Reaffirmed BOSTON and LAUSANNE, Switzerland, March 15, 2022 (GLOBE NEWSWIRE) -- SOPHiA GENETICS SA (Nasdaq: SOPH), a leader in data-driven medicine, today reported financial results for the fourth quarter and full year ended December 31, 2021. Recent Highlights Revenue for full year 2021 was $40.5 million, representing year-over-year growth of 42%, and revenue for the fourth quarter of 2021 was $10.9 million, representing year-over-year growth of 40%Total recurring platform customers grew to 382 as of December 31, 2021 up from 314 as of December 31, 2020, and 375 as of September 30, 2021, while net dollar retention for the year was 142%Continued expansion of our product offerings, including: launch of our Homologous Recombination Deficiency (HRD) solution to support detection efforts and collaboration with AstraZeneca to expand access to in-house HRD testing across Europeunveiling of CarePath, a new module on our SOPHiA DDM platform that leverages multimodal data powered by robust machine learning algorithms to help clinicians make more informed treatment decisions for their patients by better predicting disease progression, which we plan to deploy later this year “I am proud of our solid execution across our organization this quarter, as year-over-year revenue again grew significantly and as we continue to make progress in entering into exciting new relationships and expanding on existing ones,” said Jurgi Camblong, Co-Founder and CEO of SOPHiA GENETICS. “There is much to look forward to at SOPHiA GENETICS, including our exciting progress in HRD, growing penetration in North America expanding opportunities with biopharma partners, and other strategic opportunities. I am immensely proud of what we have accomplished at SOPHiA GENETICS and continue to be even more optimistic about what lies ahead of us. 2021 has been and continues to be a momentous year for our organization, and we remain confident in our objectives and mission going forward.” Fourth Quarter Financial Results Total revenue for the fourth quarter of 2021 was $10.9 million compared to $7.8 million for the fourth quarter of 2020, representing growth of 40%. Platform analysis volumes increased to approximately 66,000 analyses for the fourth quarter of 2021, compared to approximately 44,00...