Oxford Nanopore announces new 2030 targets as interim losses narrow

19th Aug 2026 09:24

(Sharecast News) - Oxford Nanopore Technologies announced a new 2030 revenue target of more than $700m on Wednesday, as it reported a narrowing of its interim losses as revenue ticked higher, driven by strong adoption in EMEAI and across Applied end markets.

In the six months to 30 June, losses narrowed to £48m from £71.8m, with revenue up 10.5% on the same period a year earlier to £116.7m. Adjusted EBITDA losses reduced to £22.1m from £48.3m.

Clinical revenue rose 35.4% to £17.6m, making it the fastest-growing customer end market with growth across all regions, while the biopharma segment saw a 25% increase to £9.5m. Revenue in the industrial arm was 6.2% higher at £13.7m, while research saw a 5.4% rise to £76m.

CEO Francis Van Parys said: "We delivered encouraging results across these end-markets during the period, alongside continued progress in product development, operational performance and readiness for regulated markets.

"We also delivered strong financial progress, with gross margin increasing by 400 basis points to 62.2% and the adjusted EBITDA loss more than halving year-on-year to £22.1 million. These results demonstrate the impact of improving gross profit and disciplined cost control and show that we are tracking well towards adjusted EBITDA breakeven in FY27."

Oxford Nanopore set two new targets. The first is to achieve revenue of greater than $700m by 2030. It said growth is expected to be materially weighted towards biopharma and clinical, while research is expected to remain a significant contributor through 2030, with slower growth than clinical and biopharma, but from a much larger base.

The second new target is to achieve an adjusted EBITDA margin of greater than 15% by 2030, and to continue to progressively improve thereafter over the longer term.

At 0922 BST, the shares were up 6.8% at 130.56p.

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