SOPH - Earnings call 3 2023 | SOPHiA GENETICS SA

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Ladies and gentlemen, thank you for standing by. My name is Desiree and I will be your conference operator today. At this time, I would like to welcome everyone to the SOPHiA GENETICS Third Quarter 2023 Earnings Conference Call. [Operator Instructions]I would now like to turn the conference over to Katherine Bailon, Head of Investor Relations. Please go ahead.

Katherine Bailon

you XXXX us Earnings thank Third SOPHiA and Fiscal Quarter Call. morning for on joining GENETICS Good My name is of Investor Katherine Bailon and at GENETICS. I'm SOPHiA Relations the Head

Chief Jurgi Joining are and Chief our Camblong, Executive Officer Officer; Officer. our Chief me Financial and Dr. Co-Founder today Operating Muken, Ross and

involve to laws. started, of materially risks are the forward-looking or material the you meaning management These this team could we get results anticipated. remind during that Before will States differ call securities federal United statements I'd like that actual uncertainties that make statements those and from within cause to events

information, X, do new release measures. only meaning Additional broadcast, by measures these and otherwise. SEC.Except its calculated as contains file by regarding in financial the any forward-looking call have update with law, appears substitutes in non-IFRS required statements includes of pipeline as is but conference IFRS November information any any for are This and disclaims not under measures, be statements revise SOPHiA to This section financial or earnings whether entitled time-sensitive IFRS. or the obligation Form should information measures. product the intention projections on accurate presentation management non-IFRS and supplement Statement These events standardized because These forward-looking of measures or for or not regarding XXXX. risks future the or IFRS viewed as Cautionary X-K GENETICS uncertainties quarter other third

both available the now our this IFRS turn will I'll our to available morning, the this our included measures release section.And that, reconciliation website. a issued Investor on in be call of on of with release have and non-IFRS is over in to replay it earnings a Jurgi. website Relations We Please note measures which press

Jurgi Camblong

currency came you today. share in I while our third We on am good results Katherine, achieved joining everyone. XX% quarter that reductions we for this quarter year-over-year basis. revenue expense appreciate you, year the period. the Thank to a Moreover, pleased and growth from growing us prior ex-COVID constant strong meaningful morning, with our call delivering on

Officer improvement Our basis or business share quarter. our XXXX. will of period Muken, our results it operating our or of prior the followed start $X.X million million, I to outlook from XX% XXXX, the execution an Ross platform. loss as on growth then XX% detail DDM quarter I $X.X from our third relates Chief continued reviewing and an was SOPHiA Financial will call, to Operating more the of for Chief quarter by third for $XX.X On adjusted improvement Officer, an by progress in our of turn in it million the to today's the financial and our

end from your focused insights quarter that identify platform. our and with cloud patient software-as-a-service by data, strategy We artificial analyze execution of insights. valuable patient are start driving the to generate intelligence DDM care and complex of of we taking overall. questions.Let me highlights SOPHiA business SOPHiA will GENETICS, a review At adoption DDM then the the on third a is genomics DDM platform data data. patient institutions SOPHiA and based customers help radiomic SOPHiA to health applies including our

platform our leverage A spanning SOPHiA wide oncology DDM across is platform applications we that network key Our of customers connected create flywheel of with of on rare provides a attribute insights diseases effect. disorders. and to range inherited

providing the apply our the insights, as constantly platform more As for more uploading inputs next who customers patient to expertise. to platform patient generate powerful patient.Customers become the are they use use SOPHiA insights their our and DDM data

to third benefit Ultimately, DDM. In SOPHiA the adoption we As which AA SOPHiA collective powers the one stronger time. DDM expertise care SOPHiA of to knowledge the of algorithms this over the more inputs, DDM. from become further institutions and intelligence quarter, customers contribute data driving more great upload another made towards allows and of provide and health strides

we our DDM, more join new are logos to These XXX use who genomics which customers network. of worldwide our XX out customers core customers. added First, SOPHiA XXX than

new our core of who of that the patient integrated a customers bundle the reminder, uploading utilization As and platform. usage the their expanding landing driven modes insights.We In XX across genomic then revenue by through board. SOPHiA performance months aim usage and genomic DDM in is to those last generate DDM access SOPHiA to are of our our QX SOPHiA generate their by revenue platform lab, customers through DDM data increase the robust regard, by strong dry

of quarter volume genomic quarter high of was the proxy and very volume for is customers, analyzed, third XXXX, up XX,XXX analysis be analysis, close considered which XX% number core all-time of our third This can analysis XXXX, patients year-over-year. XX,XXX. robust the For year-over-year. related the for across represents up was COVID-XX platform When a excluding a an XX%

the biopsy, the primary we in across customers liquid hematological the DDM and growing we mentioned were growth. recombination and later use testing for line hereditary cancer for liquid On company's profiling applications applications hereditary disease with offer data-driven like while to fastest established solid generate SOPHiA applications, earlier, deficiency, As malignant added rare inherited tumor note, SOPHiA and HRD testing, and oncology biopsy. cancer X areas, addition insights newer and DDM HRD, in homologous in patients disorders.For to applications quarter in the our grew more overall for that the market oncology,

see quarter panels oncology area to applications our across quarter third both are SOPHiA inherited year-on-year the range X excited the performance from during our to COVID for are while who as reflect to grow line I'm oncology expecting year-over-year over to expected.I shift Exome their highlight were customers some growing In larger represents this disorders, using and patients. of a growth inherited and For overall and share wide DDM now disorders EMEA, in rare geographies. gene applications we generate and insights Overall, company's fastest offer the we with highlights analysis and diseases. will saw analysis strong in to down categories rare cover time. a we the

First, our customers specially by to of the and will hospital we be application France HRD were homologous capabilities. recently In of performance on in new our by live DDM who DDM our Bordeaux, SOPHiA impressive platform attracted using SOPHiA the platforms recombination one announced X new CHU analytical deficiency and August, application. largest went

in we became announced Paraguay. Laboratorio that the lo Laboratorio provide laboratory is the cancer chronic these patients personalized September the ] and application our to with to In their also IRST, needs for network platform. we are Italy in our oncology and DDM SOPHiA went addition, using dei SOPHiA city DDM on Romagnolo In treatment Istituto as expanded the cancer.In per in work new a excited them for and of SOPHiA Diagnostics, to platform's an Studio SOPHiA algorithms leukemia, help Tumori, logo common DDM LatAm in detection them center lab, knowledge live use ovarian contribute HRD announced hereditary our relationship clinical Curie October, oncology also application blood capital with their we who hematology using will advanced of type OnkoMedeor cancer. the a XXXX capabilities hematology-oncology welcome for customers customer laboratory Curie, a [ with new of DDM a a DDM's region, We data CLL, community. to lymphocytic with as well SOPHiA German-based

for and which the to point Indian in in the other Pacific in HRR build in quarter application region, Laboratory DDM successes India These Mac, as and India's labs these discussed underpinned territories parts expected new Pacific SOPHiA This We to into and intend Tata company and and detail early push decision India the size will in of region. their now their Institute today in of expanded average number the a to sales. solid our Curie run benefiting the what These DDM's SOPHiA sales the looking cited Australia signings above Society expect Genetics region, year. established intend In all are this beyond notably Asia headcount at market.In to of by volume large large when India, the analysis DDM time tumor turnaround Specialty quarter Unipath they use addition inStem XXXX indirect we adding of volumes accelerate to MedGenome. with such application are from Asia direct are Japan. using we testing.Laboratorio on and SOPHiA help in Peter about at completed per doing are third now and added onboarding of reporting XX,XXX grew X to last in and in world add we analysis for small September so, have that Center we leverage making. quarter, price Korea labs and the albeit to suit see population by In

NORAM. to turning Next

are pleased well biopharma. an making We benefited contribution grew the sequentially above from company progress growth impressive and well solid at XX% average. analysis as we accelerated average in growth the year-over-year, company region. the NORAM NORAM with are above volume as revenue from

[indiscernible] be Fertility Toronto for underpenetrated signed and DDM be And We in reference patients high excited market in which testing. York Both X Seattle we DDM this customers SOPHiA to more using time those fertility us.I of in BioReference in NORAM, signed potential NORAM I'm we are would which applications, talk of Center annually. to consider the continue over In be liquid adopting U.S., a to SOPHiA quarter. that highlight CReATe for about like to detail New we this now. biopsy our take new City to excited for XX Canada, million and relatively serves outside signed with in labs will growth we in

has being revolutionize use management cancer. cases. technology across biopsy potential biopsies Today, to investigated diagnosis liquid and of liquid are know, you As X the the main

prostate for cases a and obtaining is which selection advanced of of cancer example, subset in First, for in for tumor and not diagnosis primary therapy lung feasible, the cases. biopsy

Second, these the And as distinctive. for promising sophisticated algorithmic use number analytical cases this biopsies area early the low highly in input monitoring an after such challenges. challenges of signal be response detection not capabilities is We longitudinal cancer.However, which for of may of onset to anticancer treatment. believe our without require Liquid systemic detection come overcome capabilities do third, materials. of

the pick from we confidently to Our analysis genomic means X.X of that noise. over the signal profiles million can date

BioReference our excited biopsy our have addition, analytical proprietary CUMIN, Both we're for barcoding and important to in liquidity liquid technology and freedom [indiscernible] to them applications performance this analysis welcome area. to molecular the In operate our which grants named us developed network. recognized we of have required own

a helped liquid biopsy for adopt customers. DDM in small U.S. biopsy leading base center cancer we trend to our SOPHiA new seeing to addition continue France, look Leon-Berard, off analysis we testing as Centre XX% a liquid this recently on forward and we In these volumes also grew needs.Overall granted customers, in QX, bring

to expanding of would our take opportunity partnership Kettering. liquid Sloan Speaking to Memorial I biopsy talk with our about like customers, this

As entered biopsy the liquid XX,XXX last performing analysis liquid over achievement test previously they MSK a announced, we has with to-date. New MSK-ACCESS This a implemented MSK-ACCESS. and them years facing for recently to over MSK facilities commercialize X clinically at of their a resounding tests. help are XXXX biopsy and successfully their demand in York assay for deploy MSK a is lot and been their that developed partnership into

together have not test working turned to The the to solution break to vision created SOPHiA it the their of the us MSK-ACCESS vision ramp deentralization uniquely testing reality. data cloud-based However, the automatically of bring materially with by positions bring the shared to to failures year volumes.Earlier they on-premise and world. they the platform and decentralize their do centralized us this of DDM to up the capacity nature

through MSK and to analyzes and available currently that samples make Customers SOPHiA MSK-ACCESS XXX are City with adopters will launch program their DDM York be pick XXXX We and early the announced of full noise. of DDM from to today XXXX.In MSK-ACCESS by our fact the genome world and customers working liquid with process gene first end in half biopsy is commercial use New of powered to able track use Participants of the by globe. earlier of access program. across first the to able for commercialize to to panel access their around before SOPHiA the we the lab signal on match one this reference, DDM test SOPHiA decentralize the the be will MSK early it run the

MSK-ACCESS to this to MSK between global initial a that in In bring ahead AstraZeneca also traction, scale. of we addition join will the October announced help us to ESMO and collaboration

to footprint under-resourced insights. with accelerate those reliable and global in underserved the world, accurate and In to access data help leverage the will so, institutions worldwide. deployment doing highly areas AstraZeneca its of including MSK-ACCESS around and

to with seen improving means we that health compounds deficiency, move development advanced also the liquid HRD be Beyond me volumes. partnership clinical detection has patients will global of have in accelerates SOPHiA in to a HRD, inhibitors homologous on patients with response of year, opportunity testing, a with strong associated analysis network proper cancer capabilities recombination second let fast-growing for the last and and application building now in PARP biomarker launch standard to growth Identifying area been identifying Since covered in the enabling shown be the to ovarian cancer. important MSK we're sustained biopsy, oncology.Having HRD. equity with DDM companies cycle accelerate recruitment very of in new biopharma trials

algorithm XX routine capabilities.This a across using we and wet detect are deployed France which learning recently offering our is in detection the Italy, including analytical the Ginger algorithm patterns lab learning list happy named now a of Ginger usage path We a globally Brazil, includes with in to patented we customers HRD application genome applications is conjunction the India, associated homologous agnostic very CGP deep algorithm of traction with Ginger. added Overall, wall detection; be and our third-party have scarring DDM for mutations deep algorithm recombination our low Mac in offering genomic expanded powers RU Spain. to that with repair. the of countries approximately in of panels. Peter CIBD quarter Australia We HRD technology covering by as third any analysis and genome result and proprietary today. prep, readily library can HRD and HRD on uses SOPHiA our

biopharma applications notably testing. selling SOPHiA positive DDM. biopsy spent by continues to of we have capabilities highlighting a interest process in I Today, time genomics space, made show HRD the in context momentum to In addition our for the clinical DDM in HRR offered testing and of lot SOPHiA liquid the the

our the multimodal intended offering HRD be with While applications pleased analysis.I this today continue am towards to heard liquid to as the key about biopsy genomic always you and progress complement we multimodal genomics such our to capabilities focus, this vision. you've have on update

of strong CarePath. ensure quarter, provides the During CarePath the study to SOPHiA CarePath off the analysis a and perform multimodal released in we December DEEP-Lung-IV. In the of patient ability SOPHiA third multimodal customers we clinical initiated SOPHiA model multimodal DDM longitudinal SOPHiA the market, a data. called platform start in with XXXX of to order gets

to discussion patients research those on the XX Sofia aggregated opportunity study by will predictive institutions sites springboard, are On York the we in have cases, results This of Summit now study we enjoyed health CarePath the to a cell AstraZeneca, guests note, community the of that year. this the forward the Memorial hypothesis new from first develop supporting have a players distinguished treatment all Peter models precision and develop proudly Then by September.Attendees who data Independent oncology without be will keynotes, ecosystem. you notably joint in first reminder, second been CarePath statistical XX on panel XXXX. with achieved and readout Officer regarding Kettering Michael our X nonsmall developed our to of X,XXX manner. Precision recorded end be a data continue are predictive plan a the key from the Henry we've presented now Sloan study External of first Microsoft, interim made and QX Medical novel with to by of Using with have in we cultivating and decentralized a in to updating IDMC, a at is Burger to focus partnership Data develop in Committee, that we Sloan in clinical response performance using on of in Casasanto, study initiative Review progress analysis from challenges X health Oncology of have working around are not order currently Memorial on XXX hosted care Stage our Biopharma Chief multimodal being observational New of In Gu, participating of the a in The David to-date.Researchers the which potential Ford, opportunities this patient and reviewed an could models a to with Chief AI-driven care. Microsoft for discussing accessing looking a Officer, enrolled enhancing multimodal as As Janssen, several powered collaboration, DEEP-Lung-IV real-world solutions making Kettering hosted the and development study X the City context flagship of we activated the immunotherapy lung capabilities the cancer. AI's SOPHiA are decisions of AA AI from the therapies.

this this We we Medical and on on with past discuss Oncology, to in and the AstraZeneca NGS surrounding data-driven broaden eligibility most improving joint efforts. look Kettering with and mission and analysis, showcase Society oncology greater globally advance Beyond rapid focused announcement Top biopharma recent testing meetings companies in a XX of shared equity for just where excitement customers Memorial ASHG working at ESMO, testing partners partner through medicine. the hosted our all meetings the to equity.Our us with joined attended sequencing of genome forward our to of the our adoption prospects trials life-saving with coverage press event, memorandum of the our for European focus movement, patient access this of team week, of joint data Washington the and Sloan NVIDIA, with health impact and the our understanding continue of our to for potential wall our DC to participate scalable clinical for enabling to And to them therapies.

Now of that without items. for sequentially. recurring scenario fully SOPHiA GENETICS budgeting proceed not of an XX% turning will by quarter was our efforts environment priorities. our million, take to environment excellent improvement, basis, XXXX, are operating by We now with under has the XX% year-over-year ability reported recognition reduced the address XX% containment our capital emphasize do constrained and loss that available.Our would lightly. will expect necessary. I we concerted to consecutive of On to want reiterate $XX.X I year-over-year quarter to capital operating was forward if additional In and the be third cost and XX% in profitability not the financial of the third sixth of challenging and loss adjusted an this our improvement like quarter sequentially. reach

would we to continually further can that To have that actions and opportunities to such, like select spending As I our that expedite sustainability. for share our inspect point, we identified improvement. incremental path

We conclude than to by SOPHiA technology underway and XXXX are leading onwards.So adopted been to the more with has benefits XX half my of just and these expect cancer actions section. participants. global

winning the As helpful technology longer-term in have share shown majority. with markets can garner to early adopters us, be the efforts

and that momentum movement the is in towards cancer days increasing. our are is for of early We medicine the our sense personalized

to community, over performance in ago Ross I care outcomes.And enable And insights to in discuss that to we and harness detail. call place set to more I accomplish GENETICS XX ever our excited out elements global will actionable financial in the from meaningfully to the SOPHiA feel turn so to now the what us to years contribute generate data today closing, do that will that patient has patient as as

Ross Muken

third challenging delivered and share the the environment, Jurgi, continuing growth. morning, to performance I'm pleased good to SOPHiA macro that GENETICS robust despite sustainable Thank everyone. commitment quarter you, our in

third $XX.X quarter quarter was XX%. Turning Constant was representing XX% million XX% third to was quarter third analysis the analysis of of quarter of XXXX was to third was of third for XXXX, the the XXXX XXX our volume, with excluding third for to XX,XXX and XX%. third of platform period. year-over-year the compared growth XXXX. volumes revenue in a primarily of customers volume year-over-year core compared integrated XX, visibility the to to XXXX, quarter to of increase COVID-only Adjusted in representing XXX%. XX% as prior in million of revenue improved third million compared was period, X% financials. expected forward. the high of retention revenue $XX.X continued Total by to XXXX currency basis of related XXXX. XX% Gross was customers revenue profit in of COVID-XX was our new profit line for XX% of expenses revenue genomic of currency from margin year-over-year level September the with million a provide margin the a for us offset reported were and the the a compared XX% of XXXX. for to quarter growth quarter million, COVID-related compared including quarter profit third in NDR revenue of quarter third of to of quarter third the $XX.X the of with churn million routine XX,XXX decline on year-over-year attributable compared compared of dollar customer of adjusted Net in was our The Platform our for for quarter revenue retention backlog million growth was third during $XX.X gross analysis XXXX the Core XX% growth for the of million the XXXX XXXX. gross constant continued customers, for the XX% XX third currency of an for XXXX growth the Total of XXXX. of to healthy gross the XXXX quarter XX%.Gross volume.Excluding $XX.X gross the for for COVID-related count up quarter. $X.X $XX.X dollar COVID-XX-related Annualized volume, of from was excluding strength access expectations. quarter by a platform but in sequentially going year continued net quarter Strong down operating analysis were XXX XXXX grew XXX%. X rate profit sequentially Core is the This genomic customers. customers. decline $X.X included the the Adjusted quarter result third healthy Constant level

to Turning operating loss.

For was third operating compared to to for XXXX, million of third $XX.X the quarter quarter $XX.X million third XXXX the $XX.X of of for Adjusted the it million was quarter third quarter XXXX. of loss compared the $XX.X million for XXXX.

for Cash XXXX. Lastly, XX%.We quarter XX, remain million sustainable total over was cash compared prior the proud year moving million approximately cash burn down achievement of in September committed quite $XX.X growth were as $XXX $XX.X to the forward. quarter, equivalents million to and of this are and

fiscal our annual Turning quarters our strong reiterating first elements Based are XXXX year XXXX, all outlook. of guidance. to on we X of our

between revenue, revenue XX% We Constant XX%, COVID-XX and is XXXX XXXX. in to long-term currency with previously continue growth, to revenue above related our be to be expectation. highlighted excluding at expect or growth in for XX% expected reported line

to GENETICS prove would based sequentially.However, to cadence be the to current quarter on I expect favorable we Additionally, anticipated the may XXXX, than anticipated Furthermore, quarters exhibited following to strong to expect XXXX losses in levels. the with of cost be operating on first SOPHiA currency final revenue previously below performance note XXXX rates. continues XXXX, less for respect up of utilization slightly continue

revenue revenues the shared be XQ all anticipate the exhibited our would in below certain to step-up This consistent is we of Additionally, that third the quarter, recognized what last in the quarterly given what year. in on update. prior we with timing was

XXXX large of We further R&D for profitability identified company nature The the we responsive ROI frame professional self-sustaining. and but difficult savings We to with that remaining matters bit have made to efforts expedite to targeted XXXX will balance discretionary the provide our reasonable Jurgi Lastly, we planning we a required while on these to our XXXX very against completed our ensuring for items color path high momentum cash headcount have to optimize your projects. desire I goal. back actions that, time at revisit public more previously and operations commit our to revenue to medium-term a cost continuing levels execute attempted to while and have communicated vigilant and take to decided wanted to further tactical more these decisions, that we We our would becoming versus profitability to generation.Additionally, path expenditures on our will focus to increasingly our prioritized in continue systems, to stating closing before reality combined of in the and over the the certain costs. also have the forward environment services TAM to and practical call look remarks our flow recently on once Jurgi I to are providing to turn like color remarks potential process.With take questions. respect These a the some actions beyond.

Jurgi Camblong

Ross. you, Thank

continue We ever delight of ability opportunity execute of our more that our on ability and as to our our ahead. on. we about which performance, I continued believe as encouraged driving and usage confident stands more our customers are SOPHiA success platform. am the the on proud to reflects long-term and path vision we and are

We to our investors Please colleagues, and In shareholder you, SOPHiA line Healthcare the have open continuing medicine.With of update on the democratizing to questions. you forward I Miami. Conference this that, the note, compelling us joining partners, be would of SOPHiA's returns to Evercore customers a to thank you for value. look and drive Without fantastic we attending may journey. possible. data-driven later to are in none opportunity future now success this month our operator, you closing, in

Operator

first Tejas with Savant comes Your Morgan of [Operator line Stanley. Instructions] from question the

Yuko Oku

be scale This call it the of BioReference it could for color collaboration? SOPHiA? how is quickly in you more Yuko terms on provide to the Lab and could Could Tejas. How economics on meaningful

Jurgi Camblong

for you your thank Yuko, questions.

support So decentralization usage and Sloan profiling around give that regard, Ross having specifics Understanding of SOPHiA that lot to DDM today and with more signed of with and Memorandum diagnosis And before the patient demand to an biopsy give the some through on BioReference will comprehensive MSK-ACCESS. color people liquid like equal access we go we testing we so in to right? the ultimately proper I testing I recently genomic are indeed including Kettering basically AstraZeneca partnership on U.S., Lab. of important a on the And Memorial world, in announcement let to you would BioReference, of a traction, the lot of of remind

Ross Muken

they are they obviously, in you U.S. where one have and community the presence particularly played in the not have and reference So historically laboratories know, all as oncology a of necessarily. the amongst oncology and field great we central one largest

is us. to partnership application. also They're this party right really And validation this for great with communities to fantastic tremendous it's serve nice a So a for their able us, be other central done our what we've of to to other historically. of be about to we've as spoken able to scale similar in parts the ability reference up world large and laboratories

particularly not Florida. So number very know, of the reach you and New large key I'm unfortunately, a Texas well like have But on patient York you going in as to economics. give they geographies and specifics

which really think of for adoption lot the hopefully, help XXXX again being would that several program into interest. AstraZeneca, our MOU access this or and later we to across I is access well with so on updates MSK and And XXXX. unique have nice drive you really MSK-ACCESS, one the further globe respect And this with a garnering will partnership in a as we'll early with for anticipate contributor of, and really application. and Jurgi that awareness on And as quite mentioned, today

Yuko Oku

what follow-up that do you meet separate be Great. And and predictive think expected then bar ability year-end also is strong the adoption? model's metrics study would With DEEP-Lung-IV to here, a provided see before question. you interim demonstrate readout for to as must what

Jurgi Camblong

start Yuko, to capabilities first with, the module. for to So was multiple DEEP-Lung-IV CarePath right, was SOPHiA a to means us study things through build multimodal do DDM, and in

the to extremely has and DEEP-LUNG deploy have that in in centers we regard, in the around successful CarePath So this able now been XX of world. context been

something extremely that's So that is important.

so well to may manage AstraZeneca real-world a to on multimodal data, remember would was earlier trusted show their are announced which in potential combine the we to signed multiple we and to the that therapies had genomics top data on setup. gathered we while able hospitals be for not way. data, demonstrate that had value compute context compute their we us we SOPHiA by important anticipate the better CarePath of your last, cake real-time immunotherapy where of to development a only leveraging It we've on this you the to beyond and of the but IG you data cherry response in to the help sources the that had to ability to was point, you do as DEEP-Lung that efforts.And Second, in in expensive that and a demonstrate demonstrate there for may we're year data you DDM And side was was with as biopharma. like deal a the

that we context are So today. in

centers XX an deployed points, to data have are SOPHiA gathered to have year. Independent up present centers. X,XXX across independently next Monitoring our on algorithms January genomics which meeting those that is proud in we clinical in XXX is be, Data are the to radiomics, now points it's patients CarePath it And going Committee So in very data predictive December of outcome as should and

have will at Data speak it we we around onboarding of value say capabilities. would already have was the to Monitoring world of because comes And the the is the demonstrated the I report multimodal Committee. predictability of the so algorithms, achieved about And the that Independent XX there great on what time centers we from when

Yuko Oku

noted for model can cancer model plan you And utility to a And larger have expand start of Do a types. that you to medium-term it. are other as variety of that the expansion other or applied over longer-term you? this studies a that indications? viewing to into multimodal a be predictive Got also you cancer time opportunity

Jurgi Camblong

multimodal workflows multimodality, that would And value So year could cancer was doing capabilities we is next one the demonstrate we the focus speak we've able already in value beyond be factory other I outcomes cancer highlight and there the we similar indeed, I where data, But because where We cancer we world. lung people that data. we've to particular, cancer call of breast that indeed, cancer. genomic most in of for algorithmic lung types. to on context factory cancer data, capabilities challenging years the is Yuko, think could about kidney in that. glioblastoma cancer, the properly been in needs sophisticated, lung around our a algorithmic many In wanted capabilities and killing doing multimodal of by internal our and have to and expected demonstrated cancer proven lung non-small what cell some And our had the SOPHiA could compute invested expect building unmet efforts. that be radiomic today

Operator

Brennan from Our comes line question the Cowen. Dan of TD with next

Kyle Boucher

Kyle in on than Is these taking partnerships. on sort Dan. And I become the how to had one should forward? is revenue quick revenue of When be moving build? will broken biopharma this about thinking we a out contributors? or for pharma expected expect longer more This meaningful we that be should

Jurgi Camblong

into the revenue, in we to improved line, performance right? the like growth quarter strong has profit before as would highlight get breakdown with So that well year-on-year our by XX% a the XX%. again of biopharma top been this for gross This I

and lot this technology think and including is a demand of the I in the technology So the the our about awesome scalability market our for tells biopharma.

certain reaches about have we this comment. will Now regarding let speak a But consistent I numbers Ross, been our I the until we that biopharma, think the always CFO, wouldn't scale.

Ross Muken

there's So rules thresholds. I IFRS around in right, respectively in disclosure, think terms of certain

not quarter. for you So a given necessarily a can a year given we that haven't assume as for threshold percentage broken

this a triple biopharma year. had happy guided was to it was we're the expected. and sequentially up meaningful So with In contributor quarter kind and quite digits as we performance of it

think if and revisit of forward. strong sort But execution. of was breadth to going biopharma's some overall, we we across period. we have a so of And in trajectory growth we'll execution the being look XDs overall, But happy you to look quite next pharma year, robust our of to quite of for the we're certainly have our obviously And continues. able driver our remain activity on that are the and update with levels forward happy with the our quite it disclosures we assuming and activity year next revenue to nice performance current I and

Kyle Boucher

upside then currency new that it's or next partnerships But out And long-term constant of range that any years? too maybe be in it. rate your a early of Got line begin in could growth to say. to long-term to in sort with XX% few starting of bit the range we 'XX, these to sort drive should XX% over

Jurgi Camblong

as of have business in very the Kyle, of nature performance our consumption-based which a we a the So net you well right, customers business good. retention clinical market, where is pretty is model, forward-looking the predictable given dollar know, on our our

already as And faster so the indeed grow above strong us year-on-year. room gives probably highlighted XX% to this this you gives a to And as segment, baseline grow now are at us biopharma we penetrating just eventually pace. a

Ross Muken

this have feel But the the what Jurgi XXXX. executed nature up sold like well has different dollar our obviously we year in as Yes. to mentioned, all of this we'll as of long-term think of this to we all you year. Hence, basis. good and continue about a so to mindful that on to assume We feeling business giving so levels actions been formally are happening we're But for macro high and report on visibility that can year well environment for we did quite we're any logos given net have today. obviously next quarter so spoken we've always changes can vigilant. new today obviously cost like year. macro announced feel as total, and well be we again well and deliver accelerating we I But committed of retention and of strong before, clear, you we're and we given not executed think fourth as and the be some we're total, recurring enter we've guidance our But our we set more our we're the trying high in challenges update next around quarter. which And just formalized us I

Operator

from we have comes of And another the do Massaro question Mark BTIG. line with

Mark Massaro

beat bottom to as some the quarter. for BioReference you addition liquid sounds applications it Labs. the application, but with first use X which nice biopsy. the line speak Congratulations alluded I Could of time? idea to they'll guess you just a types on guys sense the also use at the can the to of might they start I BioReference -- like applications MSK-ACCESS products they're that perhaps with other in think over just it you look it, the top going but and It's for see start Is give of DDM one? us initially

Jurgi Camblong

well and this EUR on versus Mark, XX.X Indeed the thank million both line loss quarter bottom congratulating with EUR think had performance. loss the line. on bottom for as we XX.X the you investments the land our us you is beat so results. million year-on-year specifically the And that top performance we I so expand QX we've scale that as technology strong doing last with On can continue a BioReference, we know, can definitively model. and our and in delivering our year strategy demonstrates XXXX been the over line,

experience you sense on trust platform our the application the land to the to often eventually opens of I Ross of this other customer initial come what a and will like we up opportunities. first build So give would and later. let

Ross Muken

BioReference here obviously intend to other highlighted Mark, U.S. with what clearly of sort we frankly, in labs you the large do and

they the a of adoption. talking take sort that in premier around was so point, liquid initial right, so them really unique a to And MSK-ACCESS opportunity be on market and saw able leading with biopsy capability to

up we'll possible. as the degree to they to get and in hand-in-hand to as that of key and running market obviously get quickly think some geographies work them with internally I their that

within other applications to discuss We continue will platform. the

BioReference, laboratories, specific in we still the that quite with large lot general [ of conversations CGP seeing I our to as but think we certainly, in I'm are of platform. in we're with well so some speaking support interest on not and product as others the the impact ] having a

well ability leading. the of capabilities of in that players We're would for a with where say to our to quite interest top existing number discussing myeloid their quite HRD a of And Ginger use would lot we HRD. I are so there's also on as And expect market our we algorithm continue. conversation

quarter well for we're excited view for business again that about XX% this year next us. to relationship. partner will obviously growth very momentum. And this We us and so and validation in U.S. this help great had NORAM up business And nearly the obviously a we set the as long-term them in continue

Mark Massaro

about update have initially targeting minimal think on guys if And Excellent. and I MRD, thinking in is talked past you whether tumor? you application solid potentially in you hem market, the about the you're it which you're it's how approaching could in hem, perhaps or know Can out? when an residual you roll provide disease. roughly

Jurgi Camblong

good Yes. A question, very Mark.

can be many MRD liquid know, you tumor testing, to quite indeed similar be things, And solid as well some can as it right? So biopsy in applications.

year capabilities MRD will is next So enable will we IMAC before launching that of support our further IMAC next clients we and will in clients. IMAC main important. in be focus on the so [ our for new year us AML number in Today, ] support that June be to

our nicely quarter. the last as We have well business grown

as And so capabilities are further our beyond by to our that those ability treated. enabling follow that only revenue we customers being with within grow not identify well, MRD to to IMAC patients enabling and But what driving the them those impact them see is they cancer.

Mark Massaro

Excellent.

proposed you business? Do And your cost my near-term go the applications cost? to up you about potential view about or a any opportunities your or question. some through guys FDA you about How are final FDA? that oversight Do opportunity LDTs? thinking need thinking maybe are as of stepping the an to Just how might potentially rule think you potentially of

Jurgi Camblong

solutions some under case, compatible with adding these So extent been control. to that's requirements. the what as are have solutions are of having our with course IVDR, to following, Europe quite importance similar in of which that well means design In we something it done Hence,

So we are industry the as computing and in announcements recent decisions that that medicine, industrializing would platform We've believe always see precision strategy. and we well an help scale that the opportunity. said of our our data rather questions, with line

Operator

to time. no further call this are turn back over I questions at Mr. you. There the Camblong,

Jurgi Camblong

you our world would to commitment excellent and the participating around work, technologies well passion like their thank in delivering hard all I So all thank the while to SOPHiAns as impacting for earnings. for in And to community hospitals that, you a with Evercore investor be Miami. customers. day. Conference Have to good highlight that to biopharma reminding good our and we soon will Healthcare a leave the at

Operator

conference today's concludes This call.

You may now disconnect.

SOPHiA GENETICS (SOPH) 7 Nov 232023 Q3 Earnings call transcript