Thank you for the great overview. Is there a chance sequencing companies make their data inaccessible in the raw format so Sophia no longer works and a lab can only use dedicated software?
Also curious if you see Sophia as a precision health/medicine play on individual bio marker tracking and analysis? If so, have you looked at Diaceutics? Curious on your thoughts, thanks.
I think fortunately the odds of sequencing companies doing that aren't super high. Illumina would be the biggest risk here given its market share, but a move like that would immediately attract more anti-trust scrutiny. Element/Ultima are so new that I'm not sure they have an interest in slowing down sales processes by saying you must use our software. Competing against Illumina is hard enough as it is! BGI Genomics making that move would arouse suspicion given it's based in China.
On Diaceutics - hadn't come across them before so thanks for flagging. They're likely competitive with Sophia on the biopharma side, but I'm less excited about that part of the business. The near-term bet for Soph is that a lot of revenue from already signed hospital customers will come online in Q4/Q1, and that that revenue is sticky/leaves a good amount of room for expansion.
Thank you for the great overview. Is there a chance sequencing companies make their data inaccessible in the raw format so Sophia no longer works and a lab can only use dedicated software?
Also curious if you see Sophia as a precision health/medicine play on individual bio marker tracking and analysis? If so, have you looked at Diaceutics? Curious on your thoughts, thanks.
I think fortunately the odds of sequencing companies doing that aren't super high. Illumina would be the biggest risk here given its market share, but a move like that would immediately attract more anti-trust scrutiny. Element/Ultima are so new that I'm not sure they have an interest in slowing down sales processes by saying you must use our software. Competing against Illumina is hard enough as it is! BGI Genomics making that move would arouse suspicion given it's based in China.
On Diaceutics - hadn't come across them before so thanks for flagging. They're likely competitive with Sophia on the biopharma side, but I'm less excited about that part of the business. The near-term bet for Soph is that a lot of revenue from already signed hospital customers will come online in Q4/Q1, and that that revenue is sticky/leaves a good amount of room for expansion.