**Summary of Oxford Nanopore Technologies Interim Results for H1 2025**
Oxford Nanopore Technologies plc (LSEONT) reported strong interim results for the first half of 2025, ending June 30, with revenue growth across all regions and customer segments. Key highlights include
**Revenue Growth**Revenue increased by 28.0% on a constant currency basis (CC) to £105.6 million, driven by demand in both Research and Applied markets. The PromethION platform saw a 59.6% revenue increase, while the MinION range declined by 3.1%.
**Regional Performance**APAC and EMEAI led growth, with 38.3% and 32.7% CC increases, respectively. The Americas grew by 16.9% CC despite research funding uncertainty.
**Customer Segments**: ClinicalApplied IndustrialBioPharmaand Research segments grew by 52.9%27.4%18.5%and 22.1%respectively.
**Gross Margin**Decreased slightly to 58.2% due to a one-off inventory charge, mix, and currency headwinds, despite underlying margin improvements.
**Adjusted EBITDA**Improved to a loss of £48.3 million from £61.7 million in H1 2024, reflecting increased gross profits and cost control.
**Strategic Progress**Entered a partnership with Cepheid for infectious disease sequencing solutions, advanced product innovation, and strengthened operations.
**Cash Position**Strong balance sheet with £337.3 million in cash and liquid investments, supported by improved cash flow dynamics.
**Guidance**Reaffirmed full-year 2025 revenue growth of 20-23% CC, gross margin of ~59%, and adjusted operating expense growth of 3-4%. Medium-term targets include adjusted EBITDA breakeven in FY27 and cash flow positivity in FY28.
CEO Gordon Sanghera highlighted broad-based growth and progress toward profitability, while the company continues to innovate and expand its market presence. Post-period updates include Sanghera’s planned departure by end-2026 and legal action against MGI for patent infringement.