9th Oct 2026 14:29
(Alliance News) - Oxford Metrics PLC said on Friday that trading had fallen "below board expectations", as it cut its revenue outlook, confirmed the appointment of its new chief executive, announced a share buyback programme and acquired the assets of Move AI Ltd.
The Oxford-based smart sensing and measurement technology group said in a trading update that trading since the publication of its interim results on June 17 "has been below the Board’s expectations."
Oxford Metrics now expects revenue of GBP47.0 million to GBP51.0 million for the 15 months ending December 31, alongside an adjusted loss before interest and tax of GBP500,000 to GBP3.9 million.
The company, which changed its accounting reference date from September 30 to December 31, extending its 2026 financial reporting period to 15 months, said the outlook reflected "uncertainty over the timing and conversion of a few larger near-term customer opportunities," as well as changes in Vicon's established end markets, pressure on research funding and delays to major projects at Industrial Vision & Metrology Systems.
Vicon is an Oxford-based designer of motion-capture and optical-tracking systems.
Looking ahead, for financial 2027, Oxford Metrics predicts adjusted earnings before interest and tax to be at or above current market expectations of GBP3.5 million. However, revenue is expected to fall short of the GBP52.5 million market forecast.
The company said it is accelerating its strategic priorities, which were due to begin in 2027 in light of current performance.
These strategic priorities, first announced in June, include expanding Vicon's markerless and hybrid motion capture technology, investing in robotics, increasing recurring software revenue and developing more repeatable inspection products at Industrial Vision & Metrology Systems. Oxford Metrics is also extending cost-saving measures and focusing investment on its strongest growth opportunities.
The expanded cost-saving programme is expected to deliver annualised net savings of GBP1.5 million to GBP2.0 million, Oxford Metrics said.
Non-Executive Chair and interim Chief Executive Gary Bullard said: "We are making faster progress on the changes needed to improve profitability. We are simplifying the group’s structure, reducing costs across the group and focusing IVMS on products with greater repeatability and stronger margins."
Separately, Oxford Metrics confirmed the appointment of Stefan Lampa as chief executive, effective December 1, subject to him obtaining the right to work in the UK. The company first announced his appointment on September 7.
The company said Lampa brings "extensive international leadership experience in robotics, automation and industrial technology, with a track record of developing software, data and recurring revenue models."
Lampa will lead both Oxford Metrics and its Vicon motion capture division, while Industrial Vision & Metrology Systems will continue to operate as a standalone division.
In another release, Oxford Metrics announced it acquired the assets of Move AI Ltd, a London-based developer of artificial intelligence-powered motion capture technology, following a competitive bidding process. Bullard said the acquisition "closely aligned with our strategy to broaden Vicon’s markerless capabilities while maintaining its leadership in optical motion capture."
Oxford Metrics said the acquisition is intended to accelerate Vicon's markerless motion capture strategy by expanding its technology, customer base, and range of applications.
Oxford Metrics will pay GBP525,000 in cash for the assets, rising to approximately GBP725,000 including immediate transaction expenses. The deal follows Vicon's September acquisition of Captive Devices, which added markerless facial capture to its body-tracking capabilities.
Move AI reported unaudited revenue of GBP1.1 million in the year ended December 31, 2025.
The group also announced a share buyback programme of up to GBP3.0 million, with purchases due to begin on Monday. Oxford Metrics has appointed Panmure Liberum Ltd to conduct the programme on a non-discretionary basis and intends to hold repurchased shares in treasury.
Oxford Metrics said cash and fixed-term deposits stood at approximately GBP29.5 million on September 30.
Separately, chair Gary Bullard and his closely associated person, Elaine Sullivan, bought a combined 365,132 shares on Friday at an average price of 31.2 pence each. Bullard bought 176,563 shares for GBP55,381.00, while Sullivan bought 183,912 shares for GBP56,925.48.
Shares in Oxford Metrics were down 5.4% to 33.00 pence per share on Friday afternoon in London.
By Niall Holden, Alliance News reporter
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