London · Delayed Price · Currency is GBP · Price in GBX Oxford Nanopore Technologies Earnings Call Transcripts
Fiscal Year 2026
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Revenue growth is strong in clinical and applied industrial markets, with rapid adoption in rare disease, infectious disease, and oncology. Technology differentiation, strategic partnerships, and biopharma applications are driving expansion, while financial targets have been adjusted to reflect market and execution challenges.
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Revenue and cash performance exceeded expectations, driven by strong growth in clinical and biopharma segments, a shift to a CapEx model, and ongoing innovation. Despite regional and execution challenges, the outlook remains positive with ambitious financial targets and new product launches expected to drive future growth.
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Strong revenue growth and market expansion were driven by differentiated sequencing technology, with clinical and biopharma segments showing rapid gains. Strategic innovation, new business models, and leadership transition position the company for continued growth and profitability.
Fiscal Year 2025
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Revenue grew 24% in FY 2025, with strong gains in clinical and applied markets, improved gross margins, and disciplined cost control. Guidance for FY 2026 targets 21%-25% revenue growth and 62% gross margin, with EBITDA breakeven expected in 2027.
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Leadership transition is underway with a focus on biopharma and clinical growth, targeting EBITDA break-even by 2027. Technology differentiation and strong execution have driven top-end revenue guidance, with new pricing models and partnerships supporting margin and market expansion. Biopharma QC and clinical segments are key growth drivers.
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Upgraded 2025 guidance reflects strong growth in the Americas and clinical/biopharma sectors, with major contracts like UK Biobank set to drive 2026 revenue. Pricing and business model changes have improved margins and cash flow, while operational focus shifts to high-value segments and leadership transitions support future scalability.
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Revenue grew 28% constant currency in H1 2025, with strong gains across all segments and regions. Gross margin reached 58.2% (61% excluding a one-off charge), and adjusted EBITDA loss improved 22% year-on-year. Guidance for 2025 is reaffirmed, with a focus on high-priority applied and clinical markets.
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The platform achieved strong financial growth in 2024, driven by differentiated native DNA/RNA sequencing technology and expanding adoption in clinical, biopharma, and applied markets. Strategic innovation, new partnerships, and a robust pipeline support continued momentum and margin expansion into 2025 and beyond.
Fiscal Year 2024
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FY 2024 revenue grew 23% underlying to £183.2m, with strong H2 momentum and margin improvement. 2025 guidance is 20%-23% growth, factoring in US and China headwinds, with continued focus on applied, clinical, and biopharma markets and operational efficiency.
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Nanopore technology enables high-accuracy, scalable sequencing across DNA, RNA, and future omics, with rapid clinical applications and strong positioning in population genomics. Strategic partnerships, innovation, and expanding global reach support growth, with financial targets set for margin improvement and break-even by 2028.
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Nanopore sequencing is driving a shift toward affordable, real-time, high-definition genomics, expanding from research into clinical, biopharma, and industrial markets. Strategic partnerships, global health initiatives, and a flexible business model support rapid growth, with financial targets set for over 30% annual revenue growth and profitability by 2027.
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Strong first-half growth and margin outperformance were driven by large contracts, increased device utilization, and improved sales force efficiency. New product launches and technology advances are expanding market opportunities, while operational discipline supports margin and revenue targets.
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Long-read sequencing technology is driving growth through unique capabilities in genomics, epigenomics, and applied markets, with strong H1 financials and robust guidance for the year. Expansion into biopharma, clinical, and population-scale programs, along with a scalable, cost-effective platform, positions the business for continued market share gains and margin improvement.
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H1 2024 saw 12.4% revenue growth (constant currency) to £84.1m, with gross margin up to 58.8%. Full-year guidance of 20%-30% revenue growth and ~57% margin is reiterated, supported by strong cash reserves, new product launches, and major contract wins.