Sophia Genetics said Tuesday before market opening that its 2022 fourth quarter revenues grew 23 percent to $13.4 million from $10.9 million a year earlier, beating analysts’ average estimate of $12.9 million.
On a constant currency basis, revenues grew 36 percent, while constant currency revenue growth excluding COVID-19-related revenue was 44 percent.
The Swiss bioinformatics company said that analyses performed on its flagship Data Driven Medicine (DDM) data analysis platform grew 8 percent year over year in Q4 to 71,066 from 65,595, with growth in core analysis volume more than offsetting a decline in COVID-19-related analysis volume. Excluding COVID-19, platform analyses were up 18 percent from Q4 2021.
Sophia’s net loss for the fourth quarter narrowed to $14.0 million, or $.22 per share, from $21.4 million, or $.33 per share, in the same period a year earlier. Wall Street analysts, on average, had expected a loss of $.36 per share.
Its R&D spending in the quarter edged up 6 percent to $6.8 million from $6.4 million, while SG&A costs declined 16 percent to $18.1 million from $21.6 million.
For the full year, revenues totaled $47.6 million, up nearly 18 percent from $40.5 million in 2021 and surpassing the consensus estimate of $47.1 million.
Its full-year net loss was $87.4 million, or $1.36 per share, up from $73.7 million, or $1.33 per share, in 2021.