Sophia Genetics Review

Memorial Sloan Kettering's MSK-ACCESS liquid biopsy assay runs on this platform. That detail alone tells you what kind of buyer takes SOPHiA seriously. The vendor went public on Nasdaq in July 2021 and posted $77M in FY2025 revenue against a $79M net loss.

Q1 2026 came in at $21.7M revenue, 22% growth, 75.4% adjusted gross margin, and net dollar retention at 117%. That last number matters. The SOPHiA DDM Platform plus the OncoPortal Plus add-on now sits in 990+ institutions across 75+ countries. Illumina BaseSpace ties you to its sequencers; SOPH stays instrument-agnostic, which is why the network kept expanding.

However, the cash runway question is real. 2026 adjusted EBITDA loss guidance is $29-32M against a beaten-down market cap. Pilot one oncology workflow for 12 months with a data-portability clause. Don't standardize the lab before 2027 financials land.

Sequencer-agnostic. That's the architectural call here. SOPHiA DDM sits above the wet lab rather than inside any vendor's ecosystem, which is why Illumina BaseSpace and Fabric Genomics aren't alternative substrates — they're different bets entirely.

The 990+ institution network feeding aggregated, anonymized variant evidence back into the algorithms is the moat, not the variant caller itself. Alamut Visual Plus and OncoPortal Plus extend interpretation into clinical reporting, and the HRD Solution closes a real gap for ovarian and prostate decision support. IVDR plus ISO/IEC 27001 is the right posture for a European reference lab.

However, the three-year call is procurement, not science. Founded 2011 at EPFL by Jurgi Camblong and team, Sophia priced an enterprise contract model — no list pricing, sales-led only. For a hospital network standardizing variant calling across sites, that fits. For a single oncology lab wanting per-run billing, BaseSpace is the cleaner shape.

Public company since July 2021. Nasdaq ticker SOPH, ~$217M IPO net. FY2025 revenue $77.3M, up 19% year over year. Procurement gets audited financials and a real 20-F — uncommon in clinical bioinformatics where most competitors stay private.

Pricing is per-analysis, not per-seat. No published rate card — every engagement quoted by sales. Implementation runs roughly 9 months before first revenue, plus 3-6 months to ramp, based on management commentary. Budget the runway, not the sticker. Annualized OpEx for a mid-size reference lab modeled against 67% reported gross margin tells you the company has pricing power.

Named features matter here. OncoPortal Plus and Alamut Visual Plus are add-on modules — line items, not bundled. Compare Illumina BaseSpace, where sequencer lock-in is the catch. SOPHiA DDM is instrument-agnostic across 990+ institutions, but the tradeoff is custom enterprise paper with no termination-for-convenience disclosed publicly.

Vendor-agnostic NGS pipeline is the line bioinformaticians read first. SOPHiA DDM accepts FASTQ from Illumina, Element AVITI, and Ion Torrent — no rewriting the wet lab around one sequencer. The November 2025 Element Biosciences partnership added AVITI24 multiomic integration. Illumina DRAGEN locks you to Illumina hardware; that's a different procurement conversation.

Alamut Visual Plus is the variant interpretation layer medical geneticists actually open. The Global Healthcare Institution Network — 990+ sites, 75+ countries — feeds aggregated variant frequencies back into classification, which matters when you're calling a VUS at 2am. OncoPortal Plus handles clinical reporting downstream.

But pricing is fully sales-gated — no public tiers, no sandbox, no self-serve trial. A community hospital lab evaluating against Fabric Genomics or in-house DRAGEN burns six months in procurement before a bioinformatician touches a FASTQ. The vendor Q&A hedges on HIPAA+GDPR mechanisms across jurisdictions — answer-shaped non-answer for a multi-country deployment review.

The H2 on sophiagenetics.com is 'Episode 10: How to Accelerate the Future of Oncology' — a podcast, not a feature. No demo video, no sandbox, no pricing link. The front door is built for press and hospital procurement, not for the bioinformatician who would actually run the pipelines.

The product underneath is more interesting than the marketing. The SOPHiA DDM Platform runs end-to-end NGS pipelines with Alamut Visual Plus for variant interpretation and quotes 98-99% accuracy on variant detection. The collective-intelligence pitch — anonymized data from 537 core genomics customers in 75 countries feeding the models — is the moat Illumina BaseSpace doesn't have. IVDR-compliant, sequencer-agnostic, real clinical software.

But there is nothing to evaluate without a sales call. No browsable docs, no public pricing, no changelog, no mobile app, and the company is still loss-making at $21.7M Q1 2026 revenue. Day three for a lab director is an MSA negotiation.

Public since July 2021. IPO priced at $18. Trading near $4.63 now. That changes how you read everything else in the deck.

The platform is real. SOPHiA DDM runs vendor-agnostic NGS pipelines for oncology and rare disease, claims 990+ institutions across 75+ countries, and the OncoPortal Plus module gives labs clinical reporting Illumina's BaseSpace handles less elegantly. 2025 revenue hit $77.3M, up 19% year-over-year. Adjusted gross margin near 74%. Not vaporware.

But net loss came in at $79M — bigger than the revenue line. That's the yellow flag. Founder-CEO Jurgi Camblong announced a transition plan in January 2026. Fifteen years in, still burning more cash than it earns and the gap isn't closing fast. Buyers underwriting a multi-year clinical workflow should model who owns the platform in 2028.