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LONDON - Oxford Nanopore Technologies plc (LSE:ONT) reported revenue of approximately £105 million for the six months ended June 30, 2025, representing a 28% increase on a constant currency basis compared to the same period last year, according to a company press release.
The molecular sensing technology provider exceeded expectations with 25% reported growth over the £84.1 million recorded in the first half of 2024. The PromethION product range led performance with approximately 59% year-on-year growth.
The company saw strong growth across both its market segments, with Research up 22% and Applied markets (including BioPharma, Clinical and Industrial) increasing 33%. Geographically, the EMEAI and APAC regions each grew more than 30% on a constant currency basis, while the Americas rose 17% despite ongoing uncertainty in the U.S. research environment.
Gross margin for the period is expected to be marginally below the 58.8% reported in the first half of 2024, affected by a non-cash one-off inventory charge and currency headwinds, despite targeted improvement measures and increased capital expenditure purchases by customers.
The company reported a reduction in adjusted EBITDA loss compared to both the previous year and the prior six months, supported by disciplined cost management and gross profit growth.
As of June 30, 2025, Oxford Nanopore maintained approximately £337 million in cash, cash equivalents and other liquid investments, down from £403.8 million at the end of 2024. The company noted improved cash flow conversion driven by its new pricing model and higher proportion of capital expenditure purchases by customers.
The company stated that its full-year guidance remains on track across all metrics. Oxford Nanopore will announce its complete interim results on September 2, 2025.
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