Oxford Nanopore Technologies Plc · LSE:ONT
Oxford Nanopore Technologies — Investor Day (October 2023)
171 slides from Oxford Nanopore Technologies's investor day presentation, Oct 19, 2023
Slide 1: Capital Markets Day 2023
Capital Markets Day 2023 19 October 2023
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Oxford Nanopore Technologies plc (“Oxford Nanopore”) for information purposes only and does not constitute an offer of, or solicitation to purchase or subscribe for, any securities in which such offer or solicitation is unlawful or to any person to w
Slide 3: Vision and growth strategy
Vision and growth strategy Dr Gordon Sanghera
Slide 4: Our vision
Our vision To enable the analysis of anything, by anyone, anywhere
Slide 5: Creating value through a new generation of sensing technology & unique commercial strategy
Creating value through a new generation of sensing technology & unique commercial strategy Single molecule sensing platform Growing user community Starting with DNA/RNA and building Customers in >120 countries towards tomorrows multi-omics doing ground-breaking science world Sustainable agile innova
Slide 6: Oxford Nanopore today in numbers
Oxford Nanopore today in numbers £200 £162.2m 46% 75% £150 £147 m £127 m Last 12-month 4YR LSRT Revenue accounted for LSRT revenue revenue CAGR1 by consumables1 £100 £50 £66 m £52 m 57.6% > 2,500 > 8,800 £33 m £0 LSRT gross margin Patents and patent Publications +14.7pts since FY20 applications from
Slide 7: Medium to long-term targets
Medium to long-term targets Medium term (FY26) Disruptive innovation Commercial operations Financial Guidance Underlying LSRT Expand geographical footprint directly >30% revenue growth Sample to answer products including TurBOT and TraxION or through channel partners of LSRT revenue Establish region
Slide 8: Our journey
Our journey 1 Channel 512 Channels 128,400 Channels Anyone | anywhere | range - Axopatch MinION PromethION P48 Maturing and innovation Future 1 Nanopore channel 512 channels per 2675 channels per Performance, Low cost, - ~1 experiment per person per week flow cell flow cell disposable flow cells Fou
Slide 9: DNA and RNA: the source code of all living things
DNA and RNA: the source code of all living things What is it? Is it healthy or Is it harmful? What is in it? diseased? Is it changing? What is How does it vary Responding? the disease? from others? Metagenome Virus Bacteria Mammal Human Crop Mixed species Eg Influenza A Eg E.coli Eg cow 3Gb x 2 Eg w
Slide 10: Nanopore sequencing: a highly differentiated platform
Nanopore sequencing: a highly differentiated platform 6 key components Deliver 6 key features 01. MOTOR 02. NANOPORE 03. RUN CONDITIONS (Salt, fuel, software) Direct /native DNA/RNA sequencing Sequence any length fragment from short to ultra-long Real-time data generation Scalable formats from small
Slide 11: Benefits of the platform create new standards and expectations
Benefits of the platform create new standards and expectations Richer Insights Faster time to result Accessible & affordable “34% of all disease-causing “The entire workflow…can be “In the one test, we can search variation is made up of variants performed in less than a working for every known disea
Slide 12: Our fully scaled platform
Our fully scaled platform From small handheld to flexible high-capacity systems all highly affordable MinION PromethION P2 solo GridION PromethION P2(i) PromethION P24 PromethION P48 From $1,000 From $10,455 From $49,955 From $59,995 From $225,000 From $310,000 © 2023 Oxford Nanopore Technologies pl
Slide 13: Unique commercial model drives rapid uptake, supported by lean infrastructure
Unique commercial model drives rapid uptake, supported by lean infrastructure Seed the market with affordable starter Expand the market with self-service Take market share with classic “B2B packs MinION and P2 Solo userbase approach • With sequencers from only $1,000, • Over 80% of orders are placed
Slide 14: Our customers
Our customers S1 S2 S3 “genomic explorers” “expanding everyday sequencing” “larger accounts” Commercial resources to fit customer types Under $25,000 $25,000 – $250,000 Over $250,000 4YR REVENUE CAGR: 25% 4YR REVENUE CAGR : 39% 4YR REVENUE CAGR : 62% © 2023 Oxford Nanopore Technologies plc Oxford Na
Slide 15: Strong track record of value creation since IPO
Strong track record of value creation since IPO Financial performance Disruptive innovation Commercial operations 2YR LSRT 32% revenue CAGR (H1 21-H1 23) Product launches including P2i and P2 Solo Doubled global commercial team Key, senior hires to drive growth in key 57.6% LSRT gross margin (+650bp
Slide 16: Accelerating commercial execution for LSRT
Accelerating commercial execution for LSRT AMERICAS EMEA1 APAC • Delivered 72% underlying • Delivered 57% underlying • Delivered 23% underlying growth in H1 23 reflecting growth in H1 23 as we see growth in H1 23 as we see increased demand for our increased demand for our increased demand for our te
Slide 17: Scaling our manufacturing operations
Scaling our manufacturing operations Meeting increasing demand whilst focusing on product robustness and reproducibility EXCELLENCE IN CONSUMABLE FLOW CELL MANUFACTURING SCALING LIBRARY PREPARATION MANUFACTURING Innovation Scale-up Continue to innovate New capabilities and manufacturing methods auto
Slide 18: Key publications drive customer adoption
Key publications drive customer adoption 2016 2019 2020 2021 2022 2022 Real-time, portable <1-day Community Largest animal 3-hour newborn High school turnaround for advances in genome sequencing student first to Ebola outbreak surveillance microbial adaptive assembled: 43 Gb sequence identification
Slide 19: Core focus areas to drive revenues
Core focus areas to drive revenues Priority research applications Human Cancer Infectious Cancer Research & High Throughput WGS at Immuno-Oncology Viral, Microbial, Infectious Scale from High-N-to-PopGen & Synthetic Genomes Applications Technology Applications Industry Sectors Commercial Channels Si
Slide 20: Substantial and growing market opportunity: DNA/RNA sequencing
Substantial and growing market opportunity: DNA/RNA sequencing $6.2 billion1 in 2022, expected CAGR 2022-25 ~15%1 Substantial opportunity to penetrate, reshape and expand RESEARCH CLINICAL & APPLIED DIAGNOSTIC & APPLIED INDUSTRIAL Oxford Nanopore is uniquely Biomedical research Clinical research, Mo
Slide 21: Substantial and growing market opportunity: DNA/RNA sequencing
Substantial and growing market opportunity: DNA/RNA sequencing Substantial opportunity to penetrate, reshape and expand Oxford Nanopore is uniquely positioned to unlock long term future potential clinical and applied market opportunities >$150 billion in 2032 Oncology Human genetics Infectious disea
Slide 22: In the same way computing evolved…
In the same way computing evolved… Distributed, real time networks have enabled a profound shift in information and insights © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate, cure, or prevent
Slide 23: … acquiring biological information is also shifting to distributed sequencing
… acquiring biological information is also shifting from mainframe to distributed DNA sequencing technology can now be real-time, accessible and high performance, in small formats © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assess
Slide 24: We draw on a broad universe of potential partners and collaborators
We draw on a broad universe of potential partners and collaborators Oncology Announced Partnerships in Clinical & Applied Industrial Nanopore Human Genetics Research Community Infectious Disease Vet & Ag Biopharma QC Large Companies Food & Env © 2023 Oxford Nanopore Technologies plc Oxford Nanopore
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Slide 26: Key takeaways
Key takeaways 01 02 03 04 05 Large market Disruptive Proven track Experienced, Financial targets opportunity; early technology platform record of value global team and reflect focus on in penetration of underpinned by creation and operational sustaining high- $150bn market robust innovation outperfo
Slide 27: Innovation fuels growth
Innovation fuels growth Rosemary Sinclair Dokos
Slide 28: Rosemary Sinclair Dokos
10 years' experience at Oxford Nanopore in the senior leadership team, connecting innovation with operations and commercialisation. Previous experience in Product Management, Sales, Marketing, and Business Development for large global life science distribution leader serving all industry segments. P
Slide 29: Tenacious and tenured innovation team
Tenacious and tenured innovation team Rosemary Sinclair Dokos Clive Brown Lakmal Jayasinghe SVP Product 445 employees CTIPO Management SVP R&D Biologics & Marketing Platform, Engineering, Pore, Enzyme, Chemistry, Software, Machine James Clarke Learning/AI, Product Integration, Stuart Reid Dan Turner
Slide 30: Creating our highly differentiated platform
Creating our highly differentiated platform Innovating on 6 key components Building a strong licence & IP position (Salt, fuel, software) 01. MOTOR 02. NANOPORE 03. RUN CONDITIONS 01 02 03 Active research Active internal Collaboration with collaborations R&D customers & industrial partners • ONT-ass
Slide 31: Innovation fuels growth
Innovation fuels growth “ If you think adventure is dangerous, try Platform deployed in new applications such as protein and small molecule sensing Existing Technology routine; it is lethal” entering new markets e.g. Applied, Clinical, Consumer Paulo Coelho Existing Technology expanding and taking s
Slide 32: We’re at the cusp of the genomics revolution
We’re at the cusp of the genomics revolution 1869 – 1975 1990 – 2003 2007 – 2017 2023 DNA discovery to First draft human Scaling The era of true whole sequencing genome assembly genomics genomes begins From Friedrich A multicounty and $ The journey from With nanopore scaling Miescher, Crick, multibi
Slide 33: We can finally uncover all areas of the genome
We can finally uncover all areas of the genome Small variants SNPs and INDELs well characterised by existing technology. E.g. Sickle cell disease and cystic fibrosis Larger, more complex variants Structural variants including Copy Number Variants, Repeats, Expansions only fully visible with the adve
Slide 34: And what we’re missing matters
And what we’re missing matters “ 34% of all disease-causing variation is made up of variants that are larger than a single base-pair substitution” Evan E. Eichler, July 2019, N Engl J Med 2019;381:64-74., DOI: 10.1056/NEJMra1809315 © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies
Slide 35: Today's paradigm: Sequencing has a high barrier to entry
Today's paradigm: Sequencing has a high barrier to entry Costly annual services Large consumable Devices alone High-end lab and contracts covering support commitments to achieve can cost advanced expertise and necessary routine competitive prices per up to $1M* to run devices device servicing genome
Slide 36: How does Oxford Nanopore deploy Disruptive Innovation?
How does Oxford Nanopore deploy Disruptive Innovation? Enabling Technology Innovative Business Model Coherent Value Network An invention or A business model that targets A network in which suppliers, innovation that makes a non consumers (new partners, distributors, and product more affordable custo
Slide 37: Structure of the session
Structure of the session 01 02 03 04 05 Driving growth in Driving growth in existing Driving growth in Driving growth in new Driving growth in new existing markets: markets: existing markets: markets: areas: Our platform Our performance Our products Roadmap to applied Beyond DNA/RNA Sequencing © 202
Slide 38: Our platform
Why are customers choosing Oxford Nanopore today? Our platform
Slide 39: Key features and benefits
Key features and benefits Features of nanopore sequencing Benefits Sequence any length fragment from short to ultra-long Richer insights: Highly accurate genomic data captures more types of genetic variation Direct /native DNA/RNA sequencing Real-time data generation Faster results from near-sample,
Slide 40: Richer insights: Sequence any fragment length
Richer insights: Sequence any fragment length DNA From cell free to ultra-long DNA Biology comes in all shapes and sizes. Cell free Amplicon Plasmid / Viral DNA material BAC / AAV genomes Our platform can sequence any fragment length, from 20 bases to over 4 million bases. This was enabled by a soft
Slide 41: Richer insights: Sequence any fragment length
Richer insights: Sequence any fragment length DNA From cell free to ultra-long DNA Cell free Amplicon Plasmid / Viral DNA material BAC / AAV genomes Bacterial Genes & Animal Plant genomes Chromosomes genomes genomes © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are no
Slide 42: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read With high performance variant detection Simplex Variant calling SNVs and INDELs High accuracy base calling (HAC) F1 accuracy 100% Structural Variation • Copy Number Variants 90% • Repeat Expansions • Large Insertions and delet
Slide 43: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read Highly accurate and comprehensive Simplex technique for base modifications SNVs and INDELs Other 5mC 5hmC modifications >99.5% >96% Structural Variation available • Copy Number Variants • Repeat Expansions % High confidence Cp
Slide 44: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read Phasing variants to better understand Simplex gene origin and function. SNVs and INDELs Maternal Child Paternal Structural Variation • Copy Number Variants • Repeat Expansions • Large Insertions and deletions • Inversions • Du
Slide 45: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read What is a “T2T” Assembly? Duplex Chromosomes under a microscope: SNVs and INDELs Structural Variation • Copy Number Variants • Repeat Expansions • Large Insertions and deletions • Inversions • Duplications Full Methylation & m
Slide 46: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read What technology has been able to deliver Duplex SNVs and INDELs Structural Variation • Copy Number Variants Short reads • Repeat Expansions • Large Insertions and deletions • Inversions • Duplications Full Methylation & modifi
Slide 47: Richer insights: Sequence the native DNA
Richer insights: Sequence the native DNA DNA More Biology from every read The T2T era: Fully phased, Chromosome Duplex level assemblies on nanopore only SNVs and INDELs Structural Variation • Copy Number Variants • Repeat Expansions • Large Insertions and deletions • Inversions • Duplications Full M
Slide 48: Key features and benefits
Key features and benefits Features of nanopore sequencing Benefits Sequence any length fragment from short to ultra-long Richer insights: Highly accurate genomic data captures more types of genetic variation Direct /native DNA/RNA sequencing Real-time data generation Faster results from near-sample,
Slide 49: Real-time data generation: Faster Results
Real-time data generation: Faster Results Track your run live Analyse reads as they’re generated Each strand DNA/RNA is User selects Data is is written to a sequenced by analysis analysed in file and placed a nanopore in a folder pipeline desired real time © 2023 Oxford Nanopore Technologies plc Oxf
Slide 50: Real-time data generation: Enabling Adaptive Sampling
Real-time data generation: Enabling Adaptive Sampling Not region of Upload reference interest? Strand Sample prep free enrichment file to MinKNOWTM rejected Simply upload a target region reference into MinKNOW and start sequencing Real-time basecalling and alignment Retain SV and methylation Apply m
Slide 51: Scalable formats
Scalable formats From small hand-held To high and ultra-high output devices Distributed Sequencers Benchtop Sequencers High Throughput Sequencers © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitiga
Slide 52: Cost effective. No capital requirements
Cost effective. No capital requirements Price per Gb $67.5 - $22.5 $45 - $10 $9 - $2 Output per flow cell (Gb) 1 2 31 20 30 501 100 200 3001 Personal Sequencers Scale-up Sequencers High Throughput Sequencers MinION P2 solo GridION P2 (i) P24 P48 Access from $1,000 Access from $10,455 Access from $49
Slide 53: Cost effective. No capital requirements
Cost effective. No capital requirements Computing on laptop Highly accelerated ML/AI algorithms with or onboard latest software release MinION: Apple M1 max or M2 max Real-time Q20 basecalling of 1 MinION flow cell GridION: GV100 Real-time Q20 basecalling of 5 MinION flow cells PromethION : A Series
Slide 54: Plug and play, easy to use solutions
Plug and play, easy to use solutions Easy, quick device set up Assisted online or in Next-gen on board troubleshooting person training in development © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mi
Slide 55: Key features and benefits
Key features and benefits Features of nanopore sequencing Benefits Sequence any length fragment from short to ultra-long Richer insights: Highly accurate genomic data captures more types of genetic variation Direct /native DNA/RNA sequencing Real-time data generation Faster results from near-sample,
Slide 56: Key features and benefits
Key features and benefits Features of nanopore sequencing vs other technologies Not complex “linked read” chemistry Sequence any length fragment from short to ultra-long Not separate short and long read instruments Not a copy Direct native DNA/RNA sequencing Don’t lose modifications Real-time data g
Slide 57: Our performance
Why are customers choosing Oxford Nanopore today? Our performance
Slide 58: Track record of delivering new and improved products
Track record of delivering new and improved products Foundational 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 … years Device upgrades P2 solo PromethION GridION MinION Flongle TurBOT SmidgION ASIC M M M R6 HMM R7 Hyperstream RNN R9 Unblock Direct Transducer R9.4.1 MK CNN R10 Bonito Kit 12
Slide 59: Track record of driving accuracy enhancements
Track record of driving accuracy enhancements ✓ ✓ ✓ Duplex R10, Kit 14 – 5kHz DUPLEX 99.9%+ Simplex R10, Kit 14 – 5kHz Simplex R9, Kit10 Gene SIMPLEX: 99%+ © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, tre
Slide 60: Track record of driving accuracy enhancements
Track record of driving accuracy enhancements ✓ ✓ ✓ SBS Other long reads Creating a highly competitive platform Duplex R10, Kit14 Simplex R10, Kit14 © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mit
Slide 61: Track record of driving output enhancements: Simplex
Track record of driving output enhancements: Simplex Performance in house today Performance in field today Performance in the pipeline 250 PCR E. coli 200 >100Gb output Output (Gb) 350 8 kbase R10.4.1 Native human 300 Future motors 200 10 kbase 150 Output (Gb) 150 Native human 200 30 kbase 100 100 R
Slide 62: Driving down cost per genome with every step change
Driving down cost per genome with every step change Price per Price per Price per Price per genome* genome* genome** genome** ~$690 ~$345 ~$235 <$200 20,000 Human genome sequencing capacity1 / 19,968 15,000 14,976 10,000 9,984 9,984 5,000 7.488 4,992 4,992 4,000 year 3,000 2,000 2,496 832 1,000 624
Slide 63: The approach to human genomes
The approach to human genomes Value at every depth of coverage Ultra-Long Telomere-to-Telomere assembly 1 DNA Extraction | ~ 1.5 hours | + Duplex ~Ultra-long+ Duplex flow cells 2 Size selection | ~ 2 hours | Optional for nanopore 60X Assembly 3 Library preparation | ~ 1 hour | nanopore is fastest Si
Slide 64: Track record of driving performance enhancements: Duplex Output
Track record of driving performance enhancements: Duplex Output Increasing Duplex Efficiency Performance in house today Performance in the pipeline >50Gb Duplex output >100Gb Duplex output +40 Gb Simplex output +50 Gb Simplex output 100% Native human DNA*# 80% 150 300 60% Duplex rate Output (Gbases)
Slide 65: Our Products
Why are customers choosing Oxford Nanopore today? Our Products
Slide 66: LSRT core commercial values
LSRT core commercial values Accessible technology & low capital Pricing is transparent Upgrades included Community feedback into product development © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mit
Slide 67: Delivering a complete product portfolio
Delivering a complete product portfolio Sample preparation kits Sequencing devices & consumables Analysis software © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate, cure, or prevent any diseas
Slide 68: Sample preparation kits
Sample preparation kits Broad range enabling a broad application space Ligation kits dedicated to best performance. Prep time ~ 60 mins | Input ~ 1ug Rapid kits dedicated to speed and ease of use. Prep time ~ 10 mins | Input ~ 100ng PCR range dedicated to low input samples Prep time ~ 15 mins + PCR
Slide 69: Automation ready
Automation ready From 3.5 hrs 192 Automated 96 library preparation Genomes/week generated in real-time 96 samples inc. QC & normalization with just a few minutes of hands-on time From 1 4 Liquid handler PromethIONTM 24 ~90 min 96 flow cells loading inc. priming Day 1 Day 2 Day 3 Day 4 Day 5 Day 6 Da
Slide 70: Devices available through starter pack models
Devices available through starter pack models Personal Sequencers Scale-up Sequencers High Throughput Sequencers MinION P2 solo GridION P2 (i) P24 P48 Access from $1,000 Access from $10,455 Access from $49,995 Access from $59,455 Access from $225,000 Access from $310,000 ~ $45 - 10 Gb 1 ~ $9 - 2/ Gb
Slide 71: Flow cells: priced to enable science at any scale
Flow cells Priced to enable science at any scale Price per flow cell Pack Size Pack price Run small experiments for $67.5 12 $810 under $100 with Flongle $900 1 $900 $790 12 $9,480 $500 48 $24,000 Power through small genomes or targeted applications with MinION $900 4 $3,600 $820 32 26,240 $785 96 $
Slide 72: Secondary data analysis
Secondary data analysis “Open-source” analysis pipelines become packaged for ease of use GitHub EPI2ME solutions Intuitive interface Sharable reports Pre-configured workflows Standard output files User defined (laptop, Local, distributed or in the Location cluster or cloud) cloud Timing Post-run Pos
Slide 73: Sample to answer
What’s next for our approach to product offering? Sample to answer
Slide 74: Delivering a complete product portfolio
Delivering a complete product portfolio Sample preparation kits Sequencing devices & consumables Analysis software NEW Expand Sample to answer Assay Bundles © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, tr
Slide 75: Combining sample with informatics to deliver complete workflows
Sample to answer End-to-end workflows Combining sample with informatics to deliver complete workflows Protocol Library over 86 step-by-step Analysis pipelines over 15 data analysis protocols pipelines supported and growing Min. Min. Output Output Guide Guide © 2023 Oxford Nanopore Technologies plc O
Slide 76: Sample to answer: TurBOT
Sample to answer TurBOT Benchtop device capable of sample extraction, Fully hands off Flexibility to meet library prep, sequencing, and data analysis nanopore sequencing your needs Extract, prepare, sequence, MinIONTM or PromethIONTM analyse all-in-one 2 Solo on board benchtop device Scalable and in
Slide 77: Sample to answer: TraxION
Sample to answer TraxION Hand-held device capable of sample extraction, Fully hands off Integrated with library prep, sequencing, and data analysis nanopore sequencing “SmidgION” ASIC Extract, prepare, sequence, For low power, rapid analyse all-in-one small sequencing insights device Affordable and
Slide 78: Assay bundles
Assay bundles Model well tested with Midnight sequencing during pandemic Sold as price Kit 1 with primers and polymerase per “tests” in Kit 2 with library preparation reagents store Correct number of flow cells for supplied reactions Onboard COVID analysis pipeline © 2023 Oxford Nanopore Technologie
Slide 79: Going from variant detection to interpretation
Towards 3rd party integrations Going from variant detection to interpretation Third party integrations are being constructed ready for imminent beta testing programme NOW NOW NEW FUTURE Will initiate Oxford Nanopores Analysis Sequence Variant detection Interpretation EHR Integrations software subscr
Slide 80: Preparing our products to enter new markets
Taking our products to new markets Preparing our products to enter new markets
Slide 81: The benefits of Oxford Nanopore are clear
The benefits of Oxford Nanopore are clear Richer insights Faster results from Accessible and Highly accurate genomic near-sample, real time affordable, with data captures all types of workflows that don’t scalability that enables genetic variation [for truly require batching more use cases whole gen
Slide 82: We continue to innovate in LSRT, and lock down in applied
We continue to innovate in LSRT, and lock down in applied From rapid innovation to rapid, applied insights Life Science Research Products Q-Line Applied market and partner products Q Feature frozen product A Locked for specific application Software & consumable Software & consumable version Q A vers
Slide 83: Our building blocks are in place
Our building blocks are in place MinKNOW “expert” mode MinKNOW “workflow” mode Software: Fully integrated Broad range of sample Scalable Preparing to go from “expert” to prep chemistries sequencers analysis “workflow” mode Sample to answer products Partnering in active development to accelerate high
Slide 84: Beyond DNA and RNA Sequencing
Expanding the application of our platform for future revenue Beyond DNA and RNA Sequencing
Slide 85: …We continue to innovate
…We continue to innovate In development MinION Mk 1D + iPAD Project TurBOT TraxION New ASIC devices Voltage sensing Protein sequencing Liquid Biopsy © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mit
Slide 86: Clear demonstration that our platform has a lot more to give
Clear demonstration that our platform has a lot more to give © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate, cure, or prevent any disease or condition.
Slide 87: Innovation does not stop
Innovation does not stop …path to anything, anyone, anywhere Short-term Medium-term Long-term P24 & P48 VolTRAX based PromethION MinION Product hardware platforms. E.g. SmidgION P2 new device upgrades upgrade TraxION Q20+ kit: Accuracy Lower cost Gen2 platforms PromethION 'Voltage chip' Platform & O
Slide 88: Commercial Strategy and Operations
Commercial Strategy and Operations Richard Compton
Slide 89: Sales and Commercial leader with a track record of scaling up in genomics
Sales and Commercial leader with a track record of scaling up in genomics BSc. in Biochemistry from the University of Birmingham BIOVIA Dassault Systèmes - VP & GM EMEA (2000 to 2012) Illumina – VP & GM EMEA (2012 to 2016) Oxford Nanopore – (2016 – Present) Richard Compton Senior Vice President of S
Slide 90: Substantial market opportunity
Substantial market opportunity $6.2bn 2022: Life Science Research (“LSRT”) a $6.2 billion opportunity $3.1bn in research $3.1bn in research Clinical Clinical diagnostics Biomedical Research (Clinical Research/Translational/ (regulated IVD) ‘LDT’/RUO/CLIA) >$120bn 2032: >$120bn opportunity in clinica
Slide 91: Building sequencing use cases from research to clinical and applied
Building sequencing use cases from research to clinical and applied Foundation for Foundation for Clinical Clinical diagnostics Biomedical Research (Clinical Research/Translational/ (regulated IVD) ‘LDT’/RUO/CLIA) • Human genetics • Rare and undiagnosed genetic disorders • Broader disease research,
Slide 92: Range of scientific customers apply to each part of the market
Range of scientific customers apply to each part of the market These customers are linked within a broader community of genomics research Clinical Clinical diagnostics Biomedical Research (Clinical Research/Translational/ (regulated eg IVD) ‘LDT’/RUO/CLIA) Non-human Research Industrial Routine indus
Slide 93: Oxford Nanopore has developed specific go-to-market strategies
Oxford Nanopore has developed specific go-to-market strategies Clinical (Clinical Research/Translational/ Clinical diagnostics Biomedical Research ‘LDT’/RUO/CLIA) (regulated eg IVD) Non-human Research Industrial Routine industrial tests Research customers: Direct sales & marketing & support, + chann
Slide 94: Global LSRT commercial team has been developed and regionalised
Global LSRT commercial team has been developed and regionalised Maximise regional opportunities with coherent, locally adapted strategies Commercial team has doubled since IPO 1. Americas 2. EMEA & India 3. APAC Sales | Support | Marketing Sales | Support | Marketing Sales | Support | Marketing End
Slide 95: LSRT Commercial leadership team
LSRT Commercial leadership team includes senior experience from across life science tools and diagnostics Rich Compton Julie Collens COMMERCIAL LEAD AMR COMMERCIAL LEAD GM Illumina Illumina Tonya McSherry Nirmala Santiapillai EMEAI COMMERCIAL LEAD Chris Busa COMMERCIAL OPERATIONS Illumina GE Healthc
Slide 96: Highly differentiated commercial model drives broad usage
Commercial operations: Highly differentiated commercial model drives broad usage S1 S2 S3 “genomic explorers” “expanding everyday sequencing” “larger accounts” - - - - - - - - - - Commercial resources to fit customer types - - - - - - - - - - Light touch: Supported and empowered: Strategic account m
Slide 97: Setting a higher standard and expectations in genomics
Setting a higher standard and expectations in genomics Unique combination of benefits meets unmet customer needs in genomics Features of nanopore sequencing Benefits Sequence any length fragment from short to ultra-long Richer insights: Highly accurate genomic data captures more types of Direct /nat
Slide 98: S1 Example: from garage to industry, a tale of plasmid sequencing
S1 Example: from garage to industry, a tale of plasmid sequencing Faster results from near-sample, Rapid turnaround becomes market expectations real time workflows that don’t for plasmid sequencing require batching • Rapid turnaround becomes market expectation for plasmid sequencing, a common need p
Slide 99: S2 Example: Ophthalmic infections and cancer at West Coast USA Hospital
S2 Example: Ophthalmic infections and cancer at West Coast USA Hospital Richer insights: Highly accurate genomic Opthalmic cancer West Coast hospital switches to data captures more types of genetic Nanopore sequencing variation • Following eye surgery, 1 in every 1,000 procedures results in Endophth
Slide 100: S3: Spanning fundamental research to national programmes
S3: Spanning fundamental research to national programmes Richer insights: Highly accurate genomic data captures more types of genetic • NIH Center for Alzheimer’s and Related variation Dementias (CARD) More variant characterisation, including methylation, for complete • Generating a new genetic reso
Slide 101: S3: “PopGen” is evolving into national genomics strategies
S3: “PopGen” is evolving into national genomics strategies Oxford Nanopore suited to all stages of evolving large-scale strategies. S3 includes a variety of larger programmes 1 2 3 Create population reference Understanding of Integration into public genomes population variation health practice (now
Slide 102: The evolution of larger programmes into national genomics strategies: UK
The evolution of larger programmes into national genomics strategies: UK as an example Oxford Nanopore is uniquely positioned for translational programmes that prepare for national genomics strategies: The UK as an example but applications translate to all markets NIHR Bioresource: 22,000 WGS cohort
Slide 103: A cutting-edge global marketing engine to engage customers worldwide
A cutting-edge global marketing engine to engage customers worldwide Bold new campaign to turn on Best in class social media share Pioneering and high impact curiosity and bring new life to of voice and strong digital community events showcase brand marketing customer breakthroughs (shown: Twitter e
Slide 104: Evolving/transforming our customer experience
Evolving/transforming our customer experience: intent to be best in class Foundation of continuous improvement of product and applications Goals: Optimise Application Outstanding, frictionless Optimised outcomes to drive expansion support customer journey Greater efficiency Tech Ongoing use support
Slide 105: Our commercial strategy: reshape, access and expand the LSRT market
Our commercial strategy: reshape, access and expand the LSRT market by enabling new or improved uses of genomic data Oxford Nanopore has a unique value proposition in the market Innovation: Community drives: New features New uses Tailored commercial High performance Changing customer approaches opti
Slide 106: Clinical & Diagnostics
Clinical & Diagnostics Dr Emma Stanton
Slide 107: Dr Emma Stanton
NHS Clinician (2000–2014) MBA (Imperial, 2009) Roles in British government (DHSC Test & Trace 2020, Clinical Adviser to Chief Medical Officer for England 2008-2010) P & L experience (CEO Four Eyes Insight 2018-2020, Chief Partnership Officer North East USA, Beacon 2017-2018) Dr Emma Stanton US Payer
Slide 108: Clinical and diagnostics markets represent a substantial market opportunity
Clinical and diagnostics markets represent a substantial market opportunity for Oxford Nanopore to increase revenue and achieve global impact © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate,
Slide 109: Clinical and diagnostic markets >$120 billion in 2032
Substantial market opportunity: clinical and diagnostic markets >$120 billion in 2032 Oncology Human genetics Infectious disease >$100 billion TAM $18 billion TAM $8 billion TAM • Screening (inc MCED) • Pre-natal diagnostics • Respiratory • Therapy selection • HLA non-transplant & transplant • Sepsi
Slide 110: Oncology
Customer Drivers: addressing unmet customer needs in clinical applications Richer insights: Highly accurate genomic data captures more types of genetic variation Faster results from near- Oncology sample, real-time workflows that don’t require batching Cancer is identified too late; rapid, informati
Slide 111: Human genetics
Customer Drivers: addressing unmet customer needs in clinical applications Richer insights: Highly accurate genomic data captures more types of genetic variation Faster results from near- Human sample, real-time workflows that don’t require batching genetics Accessible and affordable, to Patients wi
Slide 112: Infectious disease
Customer Drivers: addressing unmet customer needs in clinical applications Richer insights: Highly accurate genomic data captures more types of genetic variation Faster results from near- Infectious sample, real-time workflows that don’t require batching disease Accessible and affordable, to Antimic
Slide 113: Products to enable future clinical and diagnostic markets
Clinical & Diagnostics Products to enable future clinical and diagnostic markets
Slide 114: Diagnostic testing requires regulation
Diagnostic testing requires regulation Light More LSRT for RUO: LDT: IVD: Research Use Only Lab Developed Test Registered in vitro diagnostic devices The lab validates its own test This involves a prescribed and documented approach for regulatory approval e.g CE or FDA approval © 2023 Oxford Nanopor
Slide 115: Go to market clinical strategy
Oxford Nanopore Go to market clinical strategy © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate, cure, or prevent any disease or condition.
Slide 116: We are at the beginning of our transformational journey
We are at the beginning of our transformational journey DISCOVERY TRANSLATION TRANSLATION TRANSLATION TRANSLATION SCIENCE TO HUMANS TO PATIENTS INTO PRACTICE TO COMMUNITY Breakthrough Forging new ground in Move to specialist Deploy in most Next generation of research clinical research centres hospit
Slide 117: Go to market: Clinical strategy
Go to market: Clinical strategy 1 2 3 4 Commercial partnerships with diagnostics companies Clinical specialist End-to-end diagnostic Clinical collaborations that bring commercial sales teams solutions presence/market access and expertise ENABLER: Platform and accreditation MD 750209 © 2023 Oxford Na
Slide 118: We have engaged with clinical academics globally
We have engaged with clinical academics globally on our clinical applications Andrew Beggs, MD, PhD O University of Birmingham Kimberley Musser, PhD ID New York State Dept. of Health Anna Shuch, MD, PhD O University of Oxford Robin Patel, MD ID Mayo Clinic Vaskar Saha, MD, PhD O University of Manche
Slide 119: Collaborating with world-leading clinical organisations
1 Collaborating with world-leading clinical organisations Programmes aiming to deliver: Epidemiology Cancer Validation of Nanopore data on EPISEQ CS Improved decision making around certain types of cancer including breast cancer Tuberculosis Identification and characterisation of Drug Resistance Cli
Slide 120: Tuberculosis – Drug Resistance (TB-DR)
3 TB-DR will be OND’s 1st IVD providing drug resistance profiling Tuberculosis – Drug Resistance (TB-DR) direct from sputum in < 5hours 1.6 million people died from TB in 2022 (this is a treatable disease). The incidence of drug resistance worldwide has increased at least 10- fold in the past decade
Slide 121: Respiratory metagenomics
3 “Each day costs about £2,500, depending on the complexity of the patient. For my sickest patients, it could be Respiratory metagenomics £10,000,” Professor Ian Abbs CEO, Guys & St Thomas NHS Foundation Trust Evaluation performed on >500 samples with 250 samples as part of a pilot service at Guys &
Slide 122: 4bases – BRCA Panel partnership
4 4bases – BRCA Panel partnership Unique, market ready Assay identifies mutations in BRCA1 and BRCA2 genes solution for decentralized, same day BRCA1/2 testing. Used for screening patients who have predisposition to breast and ovarian cancer and for treatment eligibility for PARP inhibitors 4bases B
Slide 123: Omixon — NanoTYPE for HLA Typing
4 NanoTYPE is the first method enabling high- Omixon — NanoTYPE for HLA Typing resolution HLA typing in under six hours Omixon is a global transplantation diagnostics company that we have partnered with They have developed a new product called NanoTYPETM that uses nanopore sequencing to match donor
Slide 124: Key takeaways
Key takeaways 01 02 03 04 05 Oxford Nanopore With a target We will deliver on We are on a We already have a has a substantial addressable market this opportunity regulatory path to dedicated clinical opportunity in of >$100 billion (by through commercial be successful in commercial sales clinical an
Slide 125: Applied Industrial Markets
Applied Industrial Markets Dr Louisa Ludbrook
Slide 126: Louisa Ludbrook
B.BioMedSci and PhD Biochemistry (Monash) EMBA, Saïd Business School (University of Oxford) Roche Diagnostics Australia 454, NimbleGen, RT-QPCR Source BioScience, Horizon Discovery (now Revvity) NGS, arrays, gene edited cell line products 7 years at Oxford Nanopore in commercial leadership, having l
Slide 127: $1 trillion in economic impact
$1 Direct economic impact from non-healthcare markets such TRILLION as Agricultural, Food, and consumer products and in economic impact services 2030-20401. © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, tr
Slide 128: Applied industrial markets >$30 billion in 2032
Substantial market opportunity: Applied industrial markets >$30 billion in 2032 Vet and Agriculture Biopharma QC Food and environment >$15 billion TAM >$4 billion TAM >$11 billion TAM • Livestock Veterinary • Cell Line Authentication & • Food Safety Testing • Companion Animal Characterization • Food
Slide 129: One accessible, data-rich platform for industrial development
Oxford Nanopore offers one accessible, data-rich platform that can suit the lifecycle of industrial development The world is changing Industry will transform to meet the challenges. Accessible biological data will enable transformation not possible previously © 2023 Oxford Nanopore Technologies plc
Slide 130: Is it safe to eat? Was it sourced from where I expected?
Is it safe to eat? Was it sourced from where I expected? Does it contain what it says on the label? Are there any impurities that could impact safety? How fast can my new drug be brought to market?
Slide 131: A combination of factors will open larger TAM in Applied Industry
A combination of factors will open larger TAM in Applied Industry now Deployability Test Method Simplification Regulatory climate Market Dynamics >$30Bn © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat,
Slide 132: Veterinary and Agriculture
Drivers: addressing unmet customer needs Richer insights: Highly accurate genomic data captures more types Veterinary and of genetic variation Agriculture Faster results from near- sample, real time workflows Example test: PRRS virus detection that don’t require batching in distributed veterinary di
Slide 133: Food and Environment
Drivers: addressing unmet customer needs Richer insights: Highly accurate genomic data captures more types Food and of genetic variation Environment Faster results from near- sample, real time workflows Example test: Quickest time to that don’t require batching result Salmonella serotyping test Acce
Slide 134: Biopharma testing
Drivers: addressing unmet customer needs Richer insights: Highly accurate genomic data captures more types Biopharma testing of genetic variation Faster results from near- Example test: unambiguous viral sample, real time workflows Adventitious Agent safety testing that don’t require batching for us
Slide 135: Developing the capabilities to support partners in the Applied Industrial setting
Developing the capabilities to support partners in the Applied Industrial setting SYSTEM REGULATORY STRUCTURED CAPABILITIES ROADMAP PARTNERING device - software - underpinning Industry Value-based approach integration - automation product offerings Q-Line Partner Oxford Nanopore © 2023 Oxford Nanopo
Slide 136: Biopharma QC testing: Deep Dive
Biopharma QC testing Deep Dive
Slide 137: Example 1: PathoQuest — Integration Site Analysis
The ISA test, available from October 2023, is Example 1: the first nanopore sequencing-based PathoQuest — Integration Site Analysis (ISA) commercial test service launched by PathoQuest. PathoQuest is a leading CRO offering sequencing based GMP and non-GMP testing services to the biopharma industry.
Slide 138: Example 2: BASE - mRNA Vaccine QC Identity and Integrity test
A direct RNA Identity and Integrity test is Example 2: in development, first in class for mRNA BASE - mRNA Vaccine QC Identity and vaccine QC Integrity test mRNA vaccines or therapeutics undergo rigorous safety and quality testing using multiple methods which take up to 50% of the production time2 O
Slide 139: One accessible, data-rich platform that suits industrial development
One accessible, data-rich platform that suits the lifecycle of industrial development Biopharma QC Food & Environment Veterinary & Agriculture © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate,
Slide 140: Key takeaways
Key takeaways 01 02 03 04 05 >$30Bn TAM for Platforms offering We have a We have first Oxford Nanopore Applied Industrial sequencing in a regulatory partnerships and a offer one testing in 2032 centralized and Roadmap to structured pipeline accessible, data- decentralized support the prioritising va
Slide 141: Partnership Strategy
Partnership Strategy John Schoellerman
Slide 142: John Schoellerman
Hambrecht & Quist Tech & Healthcare Banking (1996 – 1998 & 1999 – 2000) Tech & Diagnostics Startups (2000 – 2004) J.P. Morgan Healthcare Investment Banking (2005 – 2014) John Schoellerman Lazard SVP Corporate & Business Healthcare Investment Banking – Head of Medtech Development (2014 – 2019)
Slide 143: Clinical & applied industrial markets require new capabilities
Clinical & applied industrial markets require new capabilities Academic Research Clinical & Applied Industrial Modular products End-to-end solutions Partnership Project-driven Business-driven model Fewer stakeholders More stakeholders Less regulated More regulated © 2023 Oxford Nanopore Technologies
Slide 144: Partnering to deliver end-to-end solutions
Partnering to deliver end-to-end solutions Oxford Nanopore Partner Lab Data Commercial Devices & Software Cloud or Local Software Service & Support Environment Sales & Marketing Flow Cells Interpretation & Reporting Reagent Kits © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies pr
Slide 145: We draw on a broad universe of potential partners and collaborators
We draw on a broad universe of potential partners and collaborators Oncology Announced Partnerships in Clinical & Applied Industrial Nanopore Human Genetics Research Community Infectious Disease Vet & Ag Biopharma QC Large Companies Food & Env © 2023 Oxford Nanopore Technologies plc Oxford Nanopore
Slide 146: Our partnering business model is geared to scalability & value sharing
Our partnering business model is geared to scalability & value sharing Our Investments Our Returns 1 Application development support 1 Share of partner revenue 2 Workflow compatibility 3 Long term supply Ongoing sale of consumables 2 via partner or directly 4 On-market service & support Measurable I
Slide 147: Manufacturing and operations
Manufacturing and operations Tim Cowper, CFO
Slide 148: Tim Cowper
10 years' experience at Oxford Nanopore in leadership roles, having led both Commercial Operations and Finance teams Responsible for setting up operations and finance infrastructure across the company, including leading on operations for our first product launch – the MinION Access Programme – in 20
Slide 149: Built for scale: infrastructure in place to support long term growth
Built for scale: infrastructure in place to support long term growth Oxford Science Park Harwell Campus Abingdon Business Park Strategic Oxfordshire, UK Oxfordshire, UK Oxfordshire, UK manufacturing partners ~100,000 sq ft ~61,000 sq ft ~57,000 sq ft USA, East Asia, UK, Europe R&D, Engineering and M
Slide 150: Experienced operations and manufacturing team
Experienced operations and manufacturing team Rhod Davies Jerry Bryar VP OPERATIONS VP MANUFACTURING 25 years' experience 40+ years' experience 280 employees Technology Transfer, Production Howard Orman Cameron Knight VP, QUALITY & REGULATORY VP TECHNOLOGY TRANSFER Engineering, Manufacturing, Qualit
Slide 151: Key focus areas to drive productivity, quality and resilience
Key focus areas to drive productivity, quality and resilience Efficiency Enhanced quality and yield Automation Greater output, quality and resilience Continuous Improvement Improved productivity Deliver best-in class capabilities to manufacture high quality, products at scale
Slide 152: Efficiency: optimising production to reduce cost of goods
Efficiency: Proven track record of optimising production to reduce cost of goods Basic components Consumables MinION PromethION flow cell launch 2015 flow cell launch 2018 Cost 2-fold decrease in manufacturing cost since launch Flow cell 5-fold increase in output, pathway to more 5-fold decrease in
Slide 153: Automation example: flow cell assembly before and after
Automation example: flow cell assembly before and after Manual assembly Automated assembly Team of 4 Team of 2 Double throughput 50% less manual operation 50% less footprint
Slide 154: Driving quality and productivity through continuous improvement
Driving quality and productivity through continuous improvement Example: output per flow cell Significant improvement At the same time in output in flow cell, reducing cost to reducing cost per Gb to manufacture 5-fold our customers Commitment to improving 50 environmental performance 40 of products
Slide 155: Key focus areas to drive productivity, quality and resilience
Key focus areas to drive productivity, quality and resilience Efficiency Enhanced quality and yield Automation Greater output, quality and resilience Continuous Improvement Improved productivity Deliver best-in class capabilities to manufacture high quality, products at scale
Slide 156: Delivering strong, consistent results
Delivering strong, consistent results Tim Cowper, CFO
Slide 157: Financial snapshot
Financial snapshot £162.2m >7,300 >640 LSRT revenue LTM Active customers LTM1 New customers LTM >8,000 ~75% £485m devices run LTM LSRT revenue Cash, cash equivalents from consumables and liquid investments All numbers at 30 June 2023 unless stated otherwise LTM = Last twelve months, as at 30 June 20
Slide 158: Proven track record of strong revenue and margin growth
Proven track record of strong revenue and margin growth LSRT revenue LSRT gross profit £146.8m 6% £127.0m R:4 CAG R 4Y % : 51 £82.7m GR CA 4YR £65.5m £68.3m £52.1m £32.5m £28.1m £25.6m £16.0m 49.2% 49.2% 42.9% 53.8% 56.3% 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Strong LSRT revenue growth d
Slide 159: Delivering strong growth across the business
Delivering strong growth across the business 15% 18% 23% 24% 33% Customer Consumables Geography 32% group 35% 77% 43% 4YR CAGR (2018-2022) 4YR CAGR (2018-2022) 4YR CAGR (2018-2022) AMR +43% S1 +25% Devices & +42% S2 +39% services EMEAI +51% APAC +41% S3 +62% Consumables +47% Indirect +110% Graphs sh
Slide 160: Proven track record of outperformance
Proven track record of outperformance 4YR Revenue growth CAGR (2018-2022) Oxford 46% Nanopore NGS Market 13% Peer A 13% Peer B 8% source: DeciBio and publicly available financial reports from peers
Slide 161: Pathway to adjusted EBITDA breakeven by the end of 2026
Pathway to adjusted EBITDA breakeven by the end of 2026
Slide 162: Sustaining high-growth whilst driving margins and returns: Revenue growth
Sustaining high-growth whilst driving margins and returns 01 Revenue growth Margin Expansion • Broad margin expansion opportunities Disciplined OpEx • Disciplined operating expenses in- • Maintain >30% underlying constant driven by manufacturing innovation line with adjusted EBITDA breakeven target
Slide 163: Key medium-term revenue drivers
Key medium-term revenue drivers Expanding, underpenetrated market opportunity coupled with unique features and benefits of Oxford Nanopore technology underpin growth >30% underlying CC growth p.a. Robust innovation pipeline with frequent platform upgrades and product launches Increased penetration o
Slide 164: Sustaining high-growth whilst driving margins and returns
Sustaining high-growth whilst driving margins and returns 02 Revenue Growth Margin Expansion Disciplined OpEx • Maintain >30% underlying constant • Disciplined operating expenses in- currency revenue growth rates to FY26 • Broad margin expansion opportunities line with adjusted EBITDA breakeven • Dr
Slide 165: Broad margin expansion opportunities
Broad margin expansion opportunities >65% Recycling core Automation components Inflation Kit yield enhancements Operational efficiencies on PromethION >57% flow cells 2023E 2026E For illustrative purposes only; boxes not to scale
Slide 166: Sustaining high-growth whilst driving margins and returns: Disciplined OpEx
Sustaining high-growth whilst driving margins and returns 03 Revenue Growth Margin Expansion Disciplined OpEx • Maintain >30% underlying constant currency • Broad margin expansion opportunities revenue growth rates to FY26 driven by manufacturing innovation • Disciplined operating expenses in-line •
Slide 167: Invested in scaling the business to drive long-term, sustainable growth
Invested in scaling the business to drive long-term, sustainable growth Adjusted SG&A Expenses as a % of LSRT Sal es Adjusted R&D & Capitalised Development Costs as % of LSRT Sales 134% 126% 124% 100% 102% 90% 73% 76% Annual Adjusted Operating Expenses as a 59% % of LSRT sales will reduce from 2024
Slide 168: Disciplined expense management; focus on high-growth segments
Disciplined expense management; focus on high-growth segments Research & Development • Advance innovation roadmap and maintain sustainable IP protection <15% • Late-stage platform development for clinical and OpEx CAGR applied industrial markets • Infrastructure largely in place; disciplined growth
Slide 169: On track to medium term targets
On track to medium term IPO targets Grow underlying LSRT revenue by >30% per annum 10-20% from LSRT clinical and applied industrial in 2026 Improve LSRT gross margin to > 65% by FY26 Achieve adjusted EBITDA breakeven by end of 2026
Slide 170: Key takeaways
Key takeaways 01 02 03 04 Proven track record of Significant opportunities Manufacturing Disciplined operating delivery high revenue in large, growing, and innovation and expenses; investments growth, driven by underpenetrated efficiency driving focused on growing market investment in innovation mar
Slide 171: Thank you
Thank you © 2023 Oxford Nanopore Technologies plc Oxford Nanopore Technologies products are not intended for use for health assessment or to diagnose, treat, mitigate, cure, or prevent any disease or condition.
Oxford Nanopore Technologies — Investor Day (October 2023) on 6ix