Biopharma RevenueThe company faced several headwinds in 2024 resulting in below long-term trend growth, notably from a lower biopharma revenue ramp and disruptions in LATAM.
Customer ChurnSOPH added 35 new genomics customers to Sophia DDM in Q4, which was solid, partially offset by a ~4% smaller customer churn.
Revenue ChallengesSophia turned in a relatively challenging 2024 as they drove 4% revenue growth while growing their volumes by 11%, which implies a 6-7% decline in revenue per analysis, which declined in part due to headwinds with biopharma customers.