Oxford Nanopore grows revenue, refines strategy and appoints new CEO on path to profitability

Oxford Nanopore (LSE:ONT) reported revenue of £223.9 million for 2025, representing growth of 24.2% at constant currency, alongside improved gross margins and a narrower adjusted EBITDA loss. Performance was supported by broad-based demand across geographic regions and customer groups, with particularly strong momentum in Clinical, BioPharma and Applied Industrial markets, as well as continued uptake of the PromethION sequencing platform. The company maintained a solid cash position despite incurring restructuring expenses aimed at refining its strategic priorities and advancing its journey toward profitability.

During the year, Oxford Nanopore progressed several large-scale research and population genomics programmes and strengthened its position in infectious disease testing through collaborations with Cepheid and bioMérieux. The company also achieved regulatory progress with the registration of its first in vitro diagnostic product, GridION Dx, marking a step forward in expanding into regulated clinical markets. Additional initiatives included expanding manufacturing capacity, continuing intellectual property litigation to defend its technology, and announcing a leadership transition, with industry executive Francis Van Parys appointed as chief executive officer. Management expects revenue growth in the low-20% range for 2026 and reaffirmed targets of achieving EBITDA breakeven in 2027 and positive cash flow by 2028.

The company’s outlook reflects improving revenue momentum and a strong equity base, although ongoing losses and negative cash flow continue to weigh on financial strength. Technical indicators remain supportive but appear somewhat stretched, while valuation metrics are constrained by the lack of profitability. Forward guidance is constructive, though investors remain mindful of execution risks and operational challenges.

More about Oxford Nanopore Technologies plc

Oxford Nanopore Technologies plc is a UK-based life sciences company specialising in nanopore-based molecular sensing and DNA and RNA sequencing technologies. Its portfolio — including PromethION, MinION and associated flow cells, consumables and software — serves research, clinical, biopharmaceutical and applied industrial markets globally, with an increasing emphasis on regulated clinical diagnostics and infectious disease applications.