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Shares in Oxford Nanopore Technologies PLC on Monday sank as it forecast revenue for the first half of the financial year below market expectations mainly reflecting soft trading in China and the Middle East. The Oxford, England-based specialist in DNA and RNA sequencing technologies said revenue in the six months ended June 30 is expected to be £116.5 million, growth of 10% on a reported basis on-year, and 12% at constant currency, but below Bloomberg consensus of £125.4 million, cited by JPMorgan. First half trading was ‘below management expectations’, the firm said, principally reflecting China, where revenue declined around 16%, the Middle East, where sales fell 14%, and the timing of both customer orders and contract wins in the Americas. In China, trading reflected enhanced export control restrictions and changes to commercial operations. Outside China and the Middle East, revenue growth was 16% at constant currency. In response, shares in Oxford Nanopore plunged 11% to 106.50 pence each in London on Monday, the biggest faller on the FTSE 250, which is down 0.2%. At constant currency, Europe, Middle East, India & Africa, sales grew 23%, in the Americas sales rose 12% and Asia Pacific sales increased 8%. For 2026, Oxford Nanopore continues to expect constant currency revenue growth within the previously guided range of 21% to 25%, including some non-recurring additional collaboration & licensing revenue opportunities expected to be recognised during the second half. Excluding these extra new revenue opportunities 2026 constant currency revenue growth is expected to be 16% to 20%. This reflects expected continued weakness in China, disruption in the Middle East and the impact of first-half customer order timing in the Americas, which is not expected to be fully recovered by year end, the firm said. Gross margin guidance for 2026 remains around 62%. For 2027, Oxford Nanopore continues to expect to achieve adjusted earnings before interest, tax, depreciation and amortisation breakeven. ‘While first half revenue growth was below our expectations, we have continued to make good operational progress in the period,’ said Chief Executive Francis Van Parys. Oxford Nanopore will announce interim results for the six months ended June 30 on August 19. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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