Sophia Genetics Sa · NASDAQ:SOPH
Sophia Genetics Sa — Q1 2024 Earnings Presentation
33 slides from Sophia Genetics Sa's earnings presentation, May 7, 2024
Slide 1: Investor Presentation
Investor Presentation May 7, 2024
Slide 2: Cautionary notices
Cautionary notices This presentation contains statements that constitute forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, business strategy, pro
Slide 3: Contents
Contents § SOPHiA GENETICS’ mission to democratize data-driven medicine § SOPHiA DDMTM: The Platform at the heart of our mission § Q1 2024 Performance update 3 © SOPHiA GENETICS 2024
Slide 4: SOPHiA GENETICS at-a-glance
SOPHiA GENETICS at-a-glance 2024 ~70 770+ 1.67 Million+ 663 scientific publications (as of May 2024) 4 © SOPHiA GENETICS 2024 (1) Data as of May 1, 2024.
Slide 5: © SOPHiA GENETICS 2023 | CONFIDENTIAL – For Internal Use Only
© SOPHiA GENETICS 2023 | CONFIDENTIAL – For Internal Use Only
Slide 6: For decades, health data has been produced in silos
For decades, health data has been produced in silos 6 © SOPHiA GENETICS 2024
Slide 7: SOPHiA GENETICS was founded to break data silos
SOPHiA GENETICS was founded to break data silos and expand access to … 7 © SOPHiA GENETICS 2024
Slide 8: Using AI to deliver world-class care across the globe
…by using AI to deliver world-class care to across the globe.
Slide 9: SOPHiA DDM is a decentralized analytics platform
SOPHiA DDMTM is a decentralized analytics platform which computes complex data and provides insights to Clinical and BioPharma customers 9 © SOPHiA GENETICS 2024
Slide 10: We are targeting a sizeable addressable market
We are targeting a sizeable addressable market Clinical market BioPharma market Generating insights from multimodal data Generating insights from multimodal data to help Clinicians with screening, early detection, to help BioPharma companies with drug diagnosis, therapy selection, and monitoring dis
Slide 11: The SOPHiA DDM Platform uniquely serves this market
The SOPHIA DDMTM Platform uniquely serves this market 11 © SOPHiA GENETICS 2024 (1) NPS Score reflects survey results users of SOPHiA DDMTM ’s core genomic module (i.e., SOPHiA DDM for Genomics) only and excludes survey results from users of add-on modules such as Alamut.
Slide 12: Our vast, global network of healthcare institutions share insights
Our vast, global network of healthcare institutions share insights and contribute to a collective intelligence 1 770+ ~70 12 © SOPHiA GENETICS 2024 (1) Data as of May 1, 2024. (2) Includes core genomic customers and customers using add-on modules such as Alamut.
Slide 13: Contents
Contents § SOPHiA GENETICS’ mission to democratize data-driven medicine § SOPHiA DDMTM: The Platform at the heart of our mission § Q1 2024 Performance update 13 © SOPHiA GENETICS 2024
Slide 14: Industry-leading multimodal capabilities driven by AI
Industry-leading multimodal capabilities driven by AI makes SOPHiA DDMTM the platform of choice for actionable patient insights 14 © SOPHiA GENETICS 2024
Slide 15: SOPHiA DDM enables Clinical customers to become beacons of precision medicine
SOPHiA DDMTM enables Clinical customers to become beacons of precision medicine ILLUSTRATIVE GENOMIC OFFERING Consumption-based business model charges customers per analysis run on SOPHiA DDMTM 15 © SOPHiA GENETICS 2024
Slide 16: Customers choose SOPHiA DDM for accuracy, speed, and cost savings
Customers choose SOPHiA DDMTM for its accuracy, expedited turnaround time, decentralized approach, and cost savings 16 © SOPHiA GENETICS 2024
Slide 17: Comprehensive portfolio of SOPHiA DDM applications
Comprehensive portfolio of SOPHiA DDMTM applications serves customers across their precision medicine needs 17 © SOPHiA GENETICS 2024
Slide 18: Analysis volume on SOPHiA DDM is growing rapidly
Analysis volume on SOPHiA DDMTM is growing rapidly across all applications 362% 32% 26% 25% 19% 18 © SOPHiA GENETICS 2024 (1) Year-over-year analysis volume as of December 31, 2023. Analysis volume growth is presented excluding COVID-related volumes.
Slide 19: Data processed on SOPHiA DDM has exploded over the years
Data processed on SOPHiA DDMTM has exploded over the years 19 © SOPHiA GENETICS 2024 (1) Figures represent an estimate of total data processed on SOPHiA DDMTM as of December 31, 2023.
Slide 20: Delivering insights to BioPharma partners across the drug continuum
SOPHiA DDMTM leverages the advanced AI powering the platform as well as the real-time, real-world data computed daily to deliver valuable insights to our BioPharma partners across the drug continuum 20 © SOPHiA GENETICS 2024
Slide 21: Contents
Contents § SOPHiA GENETICS’ mission to democratize data-driven medicine § SOPHiA DDMTM: The Platform at the heart of our mission § Q1 2024 Performance update 21 © SOPHiA GENETICS 2024
Slide 22: Q1 2024 Highlights
Q1 2024 Highlights Consistent Operational Execution; Robust New Business Momentum; Guidance Reaffirmed Expanding usage of SOPHiA DDM™ worldwide • Q1 analysis volume was ~84,000 Revenue $15.8 million • 463 core genomics customers as of Q1 2024, up from 437 in Q1 2023 vs. $14.0M in Q1 2023, 13% growth
Slide 23: Strengthening our capital position to support future growth initiatives
Strengthening our capital position to support future growth initiatives New financing agreement: • New, five-year senior secured credit facility with Perceptive Advisors • Provides access of up to $50 million in debt financing • Financing consists of an initial tranche of $15 million, and an additio
Slide 24: Growth drivers for 2024
Growth drivers for 2024 Potential catalysts for growth in 2024 Liquid Biopsy: Deploy new Liquid Biopsy offering worldwide with the help of BioPharma partners Solid tumors: Capitalize on the demand of increasingly complex signatures, including HRD U.S. market: Build off strong momentum and marquee na
Slide 25: Official launch of our new Liquid Biopsy application in April
Official launch of our new Liquid Biopsy application in April MSK-ACCESS® powered with SOPHiA DDMTM Decentralized Liquid Biopsy application April 30th, 2024 commercial launch Accurate Decentralized Efficient 9 new customers signed pre-launch Accurately detect Retain control of Reduce noise variants
Slide 26: Momentum continues in the U.S. with 34% analysis volume growth
Momentum continues in the U.S. with 34% analysis volume growth Q1 2024 Highlights 34% 27% YoY U.S. analysis volume YoY U.S. revenue growth Signing of growth since Q1 2023 since Q1 2023 Mayo Clinic 26 © SOPHiA GENETICS 2024
Slide 27: 2024 annual guidance reaffirmed
2024 annual guidance reaffirmed FY 2023 FY 2024 YoY Category Key drivers results guide improvement • Focus on accelerating 27 new logos from Q1 and 35 new logos from Q4 into routine usage faster • Capitalize on growing demand for Liquid Biopsy application, MSK- 25% – 30% ACCESS® powered with SOPHiA
Slide 28: Path to profitability in the next 2+ years
Path to profitability in the next 2+ years Another quarter of consistent Near term path to profitability(1) bottom-line improvement in Q1 2024 2026 2021 2022 2023 2024 2025 70.5% Adj. gross margin vs. 72.5% in Q1 2023 (2) 13% Adj. operating margin improvement (3) Improved adjusted operating loss by
Slide 29: Investment highlights
Investment highlights Sizable addressable market Market-leading technology Q1 2024 highlights FY 2023 highlights Customers love Figures as of Dec 31, 2023 ~4% +27 annualized new customers SOPHiA DDMTM revenue churn signed in Q1 2024 Highly recurring 464 84K+ business core genomic analysis volume in
Slide 30: Democratizing Data-Driven Medicine, Together
+ oo ' *. SOPHIA * ee GENETICS” Democratizing Data-Driven Medicine, Together
Slide 31: Financial overview
Financial overview ($ in millions, except for margin data) Q4 2024 P&L Q1 2024 Q1 2023 Change Y/Y Total revenues $15.8 $14.0 13% Adjusted gross margin % 70.5% 72.5% (196bps) Adjusted operating loss ($14.1) ($16.2) (13%) Cash burn ($19.5)1 ($16.8) (16.3%) Balance sheet March 31, 2024 March 31, 2023 C
Slide 32: Reconciliation of IFRS Financials to Adjusted Financials
Reconciliation of IFRS Financials to Adjusted Financials 2023 2024 (Amounts in USD Thousands) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY IFRS Revenue $13,966 $15,054 $16,303 $17,048 $62,371 $15,779 Gross Profit $9,694 $10,047 $11,273 11,898 $42,913 $10,405 Gross Margin 69% 67% 69% 70% 69% 66% Amortization of Cap
Slide 33: Reconciliation of IFRS Revenue Growth to Constant Currency Revenue Growth
Reconciliation of IFRS Revenue Growth to Constant Current Revenue Growth Excluding COVID-19-Related Revenue (Amounts in USD Thousands) Q1 2023 FY 2023 Q1 2024 Y-o-Y Growth IFRS Revenue $13,991 $62,371 $15,798 13% Current Period Constant Currency Impact (1) — — (184) Constant Currency Revenue $13,991