SOPHiA GENETICS Faces Financial Challenges Amid Losses

SOPHiA GENETICS (SOPH) has released an update.

SOPHiA GENETICS reported a revenue of $15.8 million for the third quarter of 2024, slightly down from $16.3 million in the same period in 2023. Despite a gross profit of $10.7 million, the company incurred a significant operating loss of $15.4 million, largely due to high research, selling, and administrative costs. This financial performance may pose challenges for investors considering the company’s stock, as losses before income taxes amounted to $18.3 million.

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