UK's Oxford Nanopore H1 revenue rises 10%, below management expectations

Oxford Nanopore Technologies

13/07/2026 07:11

Overview
UK nanopore sequencing firm's preliminary H1 revenue rose 10% yr/yr, below management expectations
Company cites weaker China and Middle East sales due to export controls and geopolitical factors
Co continues to expect adjusted EBITDA breakeven during FY27

Outlook
Company expects FY26 constant currency revenue growth of 21-25%, including non-recurring revenue
Excluding new opportunities, FY26 constant currency revenue growth seen at 16-20%
Oxford Nanopore maintains FY26 gross margin guidance at approximately 62%
Company continues to expect adjusted EBITDA breakeven during FY27

Result Drivers
CHINA AND MIDDLE EAST WEAKNESS - Co said revenue declined in China due to enhanced export controls and changes to commercial operations, and in the Middle East due to geopolitical factors
APPLIED MARKETS GROWTH - Clinical and BioPharma end markets delivered strong growth, partially offset by slower Industrial and Research segments
ORDER TIMING IMPACT - Slower-than-expected growth in the Americas attributed to timing of customer orders and contract wins

Company press release: ID:nRSM0537Ma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
GBP 116.50 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"
Wall Street's median 12-month price target for Oxford Nanopore Technologies PLC is GBp195.00, about 62.1% above its July 10 closing price of GBp120.30

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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.)