Revenue Growth and New Customer Acquisitions
Total revenue grew 16% year-over-year, with a 20% increase excluding BioPharma. The company signed a record 35 new customers in Q2, bringing the total to 63 new customers for the year.
Partnership with AstraZeneca
SOPHiA GENETICS signed the largest contract in its history with AstraZeneca, focusing on AI-powered predictive models and real-world evidence generation for breast cancer treatment.
U.S. Market Expansion
U.S. revenue, excluding BioPharma, grew more than 19% year-over-year. Notable new customers include UC Irvine and the University of Alabama, Birmingham.
Strong Performance in Asia Pacific
Asia Pacific region saw a 33% year-over-year revenue growth with significant contributions from markets like Australia and India.
Improved Gross Margin and Cash Burn
Adjusted gross margin improved to 74.4%, up 120 basis points year-over-year. Cash burn was reduced by 35% year-over-year, to $8.7 million.