Business
Interim results for the 6 months ended 30 June 23
Interim results for the 6 months ended 30 June 23.
About this update from Oxford Nanopore Technologies Plc
[{"type":"text","content":"\n\n06 September 2023\nOxford Nanopore Technologies plc\nInterim results for the six months ended 30 June 2023\n- Underlying1 Life Science Research Tools (LSRT) revenue up 53% or 46% on a constant currency basis driven by high quality, recurring consumables revenue and new customer acquisition\n- LSRT gross margin up 280 basis points driven by improvements to flow cell margins from optimised manufacturing techniques and efficiency\n- Continued investment in innovation and commercial infrastructure drives increased use of our technology by existing and new customers, further strengthening market position\nOxford Nanopore Technologies plc (LSE: ONT) (\"Oxford Nanopore\" or the \"Group\"), the company behind a new generation of molecular sensing technology based on nanopores, today announces its interim results for the six months ended 30 June 2023.\nGordon Sanghera, Chief Executive Officer, commented:\n\"We delivered strong performance in the first half, with underlying Life Science Research Tools revenue up 46% on a constant currency basis, as more researchers harnessed our sequencing technology to help find solutions to some of the planet's most pressing problems. We have invested significantly in innovative new products and platform enhancements, so that customers can benefit from richer, faster and more accessible data wherever they need it. We have also launched important new partnerships and collaborations aimed at opening opportunities in clinical and applied sequencing markets.\"\n \nSummary financial performance\n\n\n\n\n£ million\nUnless otherwise stated\n\n\nH1 2023\n\n\nH1 2022\n\n\nChange\nreported\n\n\nChange\nCC2\n\n\n\n\nTotal revenue\n\n\n86.0\n\n\n122.3\n\n\n(29.7)%\n\n\n(33.0)%\n\n\n\n\n- Legacy Covid Testing Revenue\n\n\n-\n\n\n51.8\n\n\n(100)%\n\n\n(100)%\n\n\n\n\n- Life Science Research Tools (LSRT) revenue\n\n\n86.0\n\n\n70.6\n\n\n+22%\n\n\n+16%\n\n\n\n\nUnderlying1 LSRT revenue\n\n\n75.6\n\n\n49.4\n\n\n+53%\n\n\n+46%\n\n\n\n\nGross profit\n\n\n49.5\n\n\n78.0\n\n\n(37)%\n\n\n\n\n\n\n\nGross margin\n\n\n57.6%\n\n\n63.7%\n\n\n(610)bps\n\n\n\n\n\n\n\nLSRT Gross margin\n\n\n57.6%\n\n\n54.8%\n\n\n+280bps\n\n\n\n\n\n\n\nAdjusted EBI...