Business
Upgrade to full-year revenue guidance
Upgrade to full-year revenue guidance.
About this update from Oxford Nanopore Technologies Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1553P\n Oxford Nanopore Technologies plc\n 14 October 2021\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE \n \n \n UK\n \n \n VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.\n \n \n \n 14 October 2021\n \n \n Oxford Nanopore Technologies plc\n \n \n Trading update \n \n \n Upgrade to full-year revenue guidance\n \n \n Oxford Nanopore Technologies plc (the \"Group\"), the company behind a new generation of nanopore-based sensing technology, today provides an update on its trading performance and increases guidance for core Life Science Research Tools (\"LSRT\") revenue growth for the current financial year.\n \n \n The significant increase in demand seen in the first half of the year to 30 June 2021 has continued through the third quarter, and September saw the strongest ever trading month in the Group's history. \n \n \n All three of the Group's customer segments (as set out in its Prospectus dated 30 September 2021) have contributed to strong LSRT growth in the period. \n \n \n Drivers of LSRT1 growth included continued demand for the Group's products for sequencing the SARS-CoV-2 virus, increasing demand for the Group's products for large-scale human genomics programmes and the addition of new customers across other areas of genomics research.\n \n \n As disclosed in its Prospectus, the Group was previously targeting LSRT revenue growth of 30-40% in the year ended 31 December 2021 (\"FY21\") on a constant currency basis, excluding the potential impact of an expansion of the Group's activities with the large-scale human genomics programme in the UAE.\n \n \n Given the strong trading outlined above, and the Group's expectations for the remainder of the financial year, the Group is now expecting LSRT revenue growth of 60-70% in FY212, calculated on a constant currency basis. \n \n \n The revised expectation excludes the potential FY21 impact of an expansion, if any, of the Group's activities with the large-scale human genomics programme in the UAE. The Group remains in discussions with the UAE customer at this time and anticipates that a new contract, if any, would result in revenues primarily after FY21.\n \n \n Notes\n 1.&n...