19th Aug 2026 10:57
(Alliance News) - Oxford Nanopore Technologies PLC on Wednesday backed a mid-term sales aspiration as it said improved cost control helped it deliver a narrower loss than the market expected.
The Oxford, England-based specialist in DNA and RNA sequencing technologies said its pretax loss shrank to GBP44.9 million in the six months ended June 30 from GBP69.0 million the year prior.
Adjusted loss before interest, tax, depreciation and amortisation narrowed to GBP22.1 million from GBP48.3 million a year ago, beating market consensus for a GBP38.1 million loss.
The firm said improvement was driven by gross profit growth and disciplined cost control, with adjusted operating costs down 6.9% year-on-year and down 9.6% versus the second half of 2025.
Gross profit increased 18% to GBP72.6 million from GBP61.4 million at a margin of 62.2%, up from 58.2% a year ago.
Chief Executive Francis Van Parys said the firm is "tracking well towards adjusted Ebitda breakeven in FY27."
In response, shares in Oxford Nanopore rose 9.0% to 133.20 pence each in London on Wednesday, although they have fallen 36% in the last 12 months.
Revenue increased 11% to GBP116.7 million from GBP105.6 million, and by 12% at constant currency, matching lowered expectations provided in July.
Oxford Nanopore said regional performance was underpinned by strong growth in Europe, the Middle East, Africa, & India region, and the Americas, up 24% and 13% at constant currency respectively. This was partly offset by an 8.4% reduction in Asia Pacific, which reflected a 16% decline in China.
Growth was broad-based across customer end markets, with Clinical revenue increasing 35%, BioPharma 25%, Industrial 6.2% and Research 5.4%.
For 2026 as a whole, the company still expects constant currency revenue growth of 16% to 20%, and a gross margin of 62%. It now predicts adjusted operating costs to be flat to down 2% year-on-year compared with the previous guidance of 0% to 5% growth.
It projects positive free cash flow in 2028 and sticks with a 2030 revenue target of greater than USD700 million, around GBP517 million.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Oxford Nanopore Technologies