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Investing.com -- Oxford Nanopore Technologies on Monday reported first-half revenue of £105 million, exceeding market expectations and showing 28% growth at constant exchange rates.
The DNA sequencing company’s performance was driven by strong growth across its PromethION product range, which increased 59% year-over-year, and Applied markets, which grew 33% compared to the same period last year.
Oxford Nanopore’s Applied markets include BioPharma, Clinical, and Industrial applications, while Research markets grew by 22% despite ongoing challenges in the U.S. market.
Geographically, EMEAI (Europe, Middle East, Africa, and India) and APAC (Asia-Pacific) regions led growth with over 30% constant currency increases, while the Americas grew by 17%, supported by rising demand in Applied markets.
The company’s gross margin was negatively affected by a non-cash inventory charge and currency headwinds during the first half.
However, Oxford Nanopore stated that adjusted EBITDA losses narrowed year-over-year, reflecting disciplined cost management and gross profit growth.
Oxford Nanopore reiterated its full-year 2025 guidance across all metrics, including revenue growth of 20-23% at constant currency, a gross margin of 59%, and adjusted operating expense growth of 3-4%.
The company reported cash holdings of £337 million at the end of the first half, down from £403.8 million at the end of fiscal year 2024.
Oxford Nanopore indicated this reflects improving cash flow conversion driven by its new pricing model and higher customer capital expenditure adoption.
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