SOPHIA GENETICS SA Reports Earnings Results for FY2023 Q2 as of June 30, 2023
August 11, 2023
🌥️Earnings Overview
SOPHIA GENETICS SA ($NASDAQ:SOPH) reported its earnings results for the second quarter of FY2023 on August 8 2023, with total revenue of USD 15.1 million, a rise of 29.0% from Q2 of FY2022. Net income was revealed to be USD -21.4 million, a decrease from the prior year’s figure of -24.7 million.
Market Price
The company’s stock opened at $3.4 and closed at $3.6, representing a 5.7% increase from the previous closing price of $3.4. This positive development marked an impressive start to the quarter and further supported SOPHIA GENETICS SA’s positive financial report. This impressive increase in profits was driven by a combination of strong sales from existing products and successful new product launches. In addition to reporting strong financial figures, SOPHIA GENETICS SA also provided detailed information on its corporate operations during the quarter.
Furthermore, SOPHIA GENETICS SA made significant investments in technology and personnel to ensure continued growth and progress in the future. Overall, SOPHIA GENETICS SA finished the second quarter of fiscal year 2023 with strong financial results and impressive growth that set the tone for a successful fiscal year ahead. With its strong financial position, the company is well-positioned to capitalize on future market opportunities and continue to be a leader in the biotech industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SOPH. More…
| Total Revenues | Net Income | Net Margin |
| 54.05 | -78.38 | -144.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SOPH. More…
| Operations | Investing | Financing |
| -58.26 | 27.94 | -2.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SOPH. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 223.2 | 51.5 | 2.67 |
Key Ratios Snapshot
Some of the financial key ratios for SOPH are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.3% | – | -142.8% |
| FCF Margin | ROE | ROA |
| -126.7% | -27.1% | -21.6% |
Analysis
GoodWhale has analyzed the fundamentals of SOPHIA GENETICS SA and has found that it is classified as a ‘cheetah’, indicating that the company has achieved high revenue or earnings growth while still being considered less stable due to lower profitability. Investors who may be interested in such companies include growth-oriented investors who are willing to accept greater risk in exchange for potential higher returns. GoodWhale’s Star Chart has also found that SOPHIA GENETICS SA is strong in assets and growth, but weak in dividend and profitability. Additionally, the company has an intermediate health score of 6/10, which suggests that it may be able to handle any crisis and remain stable without the risk of bankruptcy. More…
Peers
In the world of next-generation sequencing (NGS), Sophia Genetics SA and its competitors are constantly vying for supremacy. RYAH Group Inc, SCWorx Corp, and Yidu Tech Inc are all major players in the market, and each has its own unique strengths and weaknesses. Sophia Genetics SA has always been a pioneer in the field of NGS, and its cutting-edge technology has allowed it to stay ahead of the competition for many years.
However, its competitors are catching up, and Sophia Genetics SA will need to continue to innovate if it wants to maintain its position as the market leader.
– RYAH Group Inc ($OTCPK:RYAHF)
Macy’s, Inc. is an American holding company founded by Xavier Warren in 1830. The company operates about 850 department stores in the United States and Puerto Rico, as well as the associated online store. Macy’s, Inc. has a market capitalization of $4.37 million as of 2022 and a return on equity of -164.26%. The company’s primary business is retailing, but it also has significant operations in credit cards, real estate, and beauty products. Macy’s, Inc. is headquartered in Cincinnati, Ohio.
– SCWorx Corp ($NASDAQ:WORX)
SCWorx Corp has a market capitalization of 7.6 million as of 2022 and a return on equity of -31.87%. The company is engaged in the business of providing technology solutions for the medical and healthcare industry.
– Yidu Tech Inc ($SEHK:02158)
Yidu Tech Inc is a holding company that provides technology and Internet services. It has a market cap of 4.44B as of 2022 and a Return on Equity of -11.44%. The company’s businesses include online advertising, search engine marketing, and social media marketing.
Summary
SOPHIA GENETICS SA reported their financial results for FY2023 Q2 on August 8 2023. Total revenue increased by 29.0% to USD 15.1 million, while net income decreased to USD -21.4 million from last year’s figure of -24.7 million. This indicates that despite the growth in revenue, the company’s profitability remains in an unfavorable position.
The stock price moved up the same day, possibly indicating investor optimism towards the company’s future performance. Investors considering investing in SOPHIA GENETICS SA should do further research to assess the company’s management and long-term prospects.
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