Half Year Trading Update and Notice of Results

Oxford Nanopore Technologies plc

13 July 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Oxford Nanopore Technologies plc

("Oxford Nanopore" or the "Group")

Half Year Trading Update and Notice of Results

13 July 2026

Oxford Nanopore Technologies plc (LSE: ONT), the company delivering a new generation of nanopore-based sensing technology, today provides a trading update for the six months ended 30 June 2026.

Trading

·   H1 2026 revenue expected to be approximately £116.5 million, representing growth of approximately 10% on a reported basis and 12% at constant currency (CC).

·      First half trading was below management expectations, principally reflecting:

o  China, where revenue declined approximately 16%, reflecting enhanced export control restrictions and changes to commercial operations in the region, and the ongoing geopolitical situation in the Middle East, where revenue declined approximately 14%.

§ Outside China and the Middle East, Group revenue growth was approximately 16% CC.

o  The timing of both customer orders and contract wins in AMR.

·      Regional performance:

o  EMEAI delivered the strongest regional growth (up approximately 23% CC year-on-year) despite disruption in the Middle East, driven by continued momentum in Clinical and BioPharma end markets, with Research performing strongly notwithstanding the previously communicated roll-off of two large projects.

o  AMR continued to perform well (up approximately 12% CC year-on-year), although growth was slower than anticipated due to the timing of customer orders and contract wins. Growth was broadly consistent across all end-markets despite continued funding pressures within the Research environment.  

o  APAC revenue declined by approximately 8% CC year-on-year. Performance reflected a meaningful decline in China together with the completion of the PRECISE II contract in Singapore in the prior year, as previously communicated.

·      End market performance:

o  Applied Markets revenue grew approximately 22%, driven by:

§ Clinical growth of approximately 35%.

§ BioPharma growth of approximately 25%.

§ Partially offset by Industrial, which grew approximately 5%.

o  Research revenue grew approximately 5%, reflecting the previously communicated roll-off of several large projects.

·    Growth was delivered across all product categories, led by PromethION, which grew approximately 15% year-on-year.

·   Cash, cash equivalents and other liquid investments were approximately £234.5 million at 30 June 2026 (FY25: £302.8 million), providing continued balance sheet strength to execute the Group's strategy.

Guidance

FY26

·    FY26 constant currency revenue growth is expected to remain within the previously guided range of approximately 21-25%, including:

o  additional collaboration & licensing revenue opportunities expected to be recognised during the second half of FY26, some of which is expected be non-recurring in nature.

·     Excluding these additional new revenue opportunities FY26 constant currency revenue growth is expected to be approximately 16-20%, principally reflecting:

o  expected continued weakness in China;

o  disruption in the Middle East; and

o  the impact of first-half customer order timing in AMR, which is not expected to be fully recovered by year end.

·     The Group continues to expect a materially stronger second half, supported by:

o  continued momentum in Applied Markets; and

o  the ramp-up of secured business.

·      FY26 gross margin guidance remains approximately 62%.

FY27

·      The Group continues to expect to achieve adjusted EBITDA breakeven during FY27, with strong progress made in the first half of FY26.

Francis Van Parys, Chief Executive Officer of Oxford Nanopore Technologies, commented:

"While first half revenue growth was below our expectations, we have continued to make good operational progress in the period, delivering further improvements in gross margin and disciplined cost control, keeping us on track to achieve adjusted EBITDA breakeven during FY27.

"We continue to see encouraging momentum across our strategic growth markets, particularly Clinical and BioPharma, and I look forward to discussing our first half performance and strategic priorities in more detail when we announce our interim results in August."

Notice of Results

·      Oxford Nanopore will announce its interim results for the six months ended 30 June 2026 on Wednesday 19 August 2026.

·    Management will host a virtual presentation to review financial results and Francis Van Parys, CEO, will provide a strategy update at 9:30am BST / 4:30am EDT, followed by a Q&A session accessible via webcast and conference call on the Company's investor relations website.

-ENDS-

This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Oxford Nanopore Technologies plc. All figures are provisional and subject to further review.

This announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU no. 596/2014), which forms part of English law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging the release of this announcement on behalf of the Company is Hannah Coote, Company Secretary of Oxford Nanopore Technologies plc.

For further information, please contact:

Oxford Nanopore Technologies plc

Investors:       [e-mail]

Media:            [e-mail]

Teneo (communications adviser to the Company)

Tom Murray, Lisa Jarrett-Kerr

[phone]

[e-mail]

Notes:

-     All percentages compare to the equivalent 2025 period.

-     All growth rates include currency fluctuations unless stated as constant currency (CC).

-     Constant currency (CC) applies the same rate to the HY26 and HY25 non-GBP results based on HY25 rates.

-     APAC: Asia Pacific, AMR: The Americas, EMEAI: Europe, the Middle East, Africa and India

About Oxford Nanopore Technologies plc:

Oxford Nanopore Technologies' goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere. The Group has developed a new generation of nanopore-based sensing technology that is currently used for real-time, high-performance, accessible, and scalable analysis of DNA and RNA. The technology is used in more than 125 countries, to understand the biology of humans, plants, animals, bacteria, viruses and environments as well as to understand diseases such as cancer.  Oxford Nanopore's technology also has the potential to provide broad, high impact, rapid insights in a number of areas including healthcare, food and agriculture. 

For more information please visit: www.nanoporetech.com

Forward-looking statements

This announcement contains certain forward-looking statements. For example, statements regarding expected revenue growth and profit margins are forward-looking statements. Phrases such as "aim", "plan", "expect", "intend", "anticipate", "believe", "estimate", "target", and similar expressions of a future or forward-looking nature should also be considered forward-looking statements. Forward-looking statements address our expected future business and financial performance and financial condition, and by definition address matters that are, to different degrees, uncertain. Our results could be affected by macroeconomic conditions, delays or challenges in manufacturing or delivering of products to our customers, suspensions of large projects and/or acceleration of large products or accelerated adoption of pathogen surveillance or applied uses of our products. These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements.

 

END