Revenue rose to £105.6 million from £84.1 million exceeding expectations
LONDON: Oxford Nanopore Technologies plc (LSE: ONT) on Tuesday reported a 28% year-on-year revenue increase on a constant currency basis for the first half of 2025, driven by broad-based growth across geographies and customer segments, and strong uptake of its PromethION sequencing platform.
Revenue rose to £105.6 million from £84.1 million in H1, exceeding expectations. Gross profit climbed 24% to £61.4 million, while adjusted EBITDA loss narrowed to £48.3 million from £61.7 million a year earlier, reflecting improved gross margins and disciplined cost control.
CEO Gordon Sanghera said the company made “clear progress on our path to profitability,” citing increased demand in both Research and Applied markets, innovation in multiomic capabilities, and a new partnership with Cepheid to develop automated infectious disease sequencing solutions.
Clinical revenue surged 52.9%, with notable growth in oncology and rare disease applications. Research revenue rose 22.1%, supported by national genomics programs in the UK and Singapore. PromethION sales jumped 59.6%, offsetting a slight decline in MinION sales.
Oxford Nanopore ended the period with £337.3 million in cash and liquid investments, down from £403.8 million at year-end 2024, as the company shifted toward capex-based customer purchases.
Strategic highlights included operational efficiency gains, ISO 13485 quality upgrades, and refined commercial strategies targeting high-priority markets worth up to $14 billion. The company reaffirmed its FY25 guidance of 20–23% revenue growth and medium-term targets of EBITDA breakeven by FY27 and positive cash flow by FY28.
Post-period, Sanghera announced plans to step down as CEO by end-2026, with a successor search underway. Co-founder Spike Willcocks also exited the company.
Oxford Nanopore continues to position itself as a leader in real-time, scalable sequencing technologies, with over 2,000 peer-reviewed publications in H1 alone underscoring its scientific impact.