UK's Oxford BioMedica H1 revenue rises on increased manufacturing
UK's Oxford BioMedica H1 revenue rises on increased manufacturing
Overview
UK cell and gene therapy CDMO's H1 revenue rose 9% yr/yr, matching analyst estimate
Adjusted operating EBITDA loss narrowed to £2.5 mln from £3.9 mln a year earlier
Gross margin fell to 37% from 43% due to product and client mix changes
Outlook
Oxford BioMedica reiterates FY 2026 constant currency revenue guidance of £180–200 mln
Company expects FY 2026 EBITDA margin to be mid-single-digit % excluding one-off costs
Oxford BioMedica maintains FY 2027 revenue growth guidance of 25-30% year-on-year
Result Drivers
MANUFACTURING ACTIVITY - Revenue growth was driven by increased GMP manufacturing for clinical-stage clients and clients preparing for commercial launch
NEW CLIENTS - Record number of new client wins expanded the portfolio and future revenue base
PRODUCT AND CLIENT MIX - Gross margin decline attributed to changes in product and client mix, including higher mix of lower-margin plasmid revenues and reduced one-off cancellation revenues
Company press release: ID:nRSV6720Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue | Meet | GBP 79.80 mln | GBP 79.80 mln (1 Analyst) |
H1 Operating EBITDA |
| -GBP 7.80 mln |
|
H1 Operating Profit |
| -GBP 29.07 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Oxford Biomedica PLC is GBp780.00, about 67.7% above its September 21 closing price of GBp465.00
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)