Business
Interim results for the period ended 30 June 2022
Interim results for the period ended 30 June 2022.
About this update from Oxford Nanopore Technologies Plc
[{"type":"text","content":"\n \n \n 13 September 2022\n \n \n \n Oxford Nanopore Technologies plc\n \n \n \n \n Interim results for the six months ended 30 June 2022\n \n \n \n \n Strong growth in core LSRT business; re-affirming full year guidance\n \n \n \n Oxford Nanopore Technologies plc (LSE: ONT) (\"Oxford Nanopore\" or the \"Group\"),\n the company behind a new generation of molecular sensing technology based on nanopores\n , today announces its interim results[1] for the six months ended 30 June 2022.\n \n \n \n Summary financial performance\n \n \n \n \n \n \n \n \n £ million\n \n \n \n Unless otherwise stated\n \n \n \n \n \n HY 2022\n \n \n \n \n \n \n HY 2021\n \n \n \n \n \n \n Change\n \n \n \n \n reported\n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n 122.3\n \n \n \n \n 59.0\n \n \n \n \n +107%\n \n \n \n \n \n \n Life Science Research Tools (LSRT) revenue\n \n \n \n \n 70.6\n \n \n \n \n 52.6\n \n \n \n \n +34%\n \n \n \n \n \n \n Non-recurring COVID-19 testing revenue[2]\n \n \n \n \n 51.8\n \n \n \n \n 6.4\n \n \n \n \n +709%\n \n \n \n \n \n \n \n Gross profit\n \n \n \n \n \n 78.0\n \n \n \n \n 30.2\n \n \n \n \n +158%\n \n \n \n \n \n \n \n Gross margin\n \n \n \n \n \n 63.7%\n \n \n \n \n 51.2%\n \n \n \n \n +12.5pts\n \n \n \n \n \n \n LSRT Gross margin\n \n \n \n \n 54.8%\n \n \n \n \n 51.1%\n \n \n \n \n +3.7pts\n \n \n \n \n \n \n \n Adjusted EBITDA[3]\n \n \n \n \n \n \n (34.6)\n \n \n \n \n \n \n (19.2)\n \n \n \n \n \n (15.4)\n \n \n \n \n \n \n \n Loss for the period\n \n \n \n \n \n \n (30.2)\n \n \n \n \n \n \n (44.8)\n \n \n \n \n \n 14.6\n \n \n \n \n \n \n \n \n \n \n \n \n Financial highlights; strong underlying revenue growth in core business\n \n \n \n ·\n LSRT revenue increased by 34% to £70.6 million, (HY2021: £52.6million), primarily driven by increasing customer numbers, across a breadth of applications and growth in consumables sales, which includes higher than anticipated contribution from COVID-19 sequencing.\n \n \n ·\n Excluding the impact of FX, revenue from COVID-19 sequencing and revenue from the Emirati Genome Program (EGP), LSRT revenue grew by approximately 30% year-on-year.\n \n \n ·\n Group revenue increased to £122.3 million (HY2021: £59.0 million), reflecting an £18.0 million increase in LSRT revenue and non-recurring revenue of £51.8 million following the conclusion of the Group's COVID-...