**Summary**
Oxford Biomedica PLC (OXB) released a full-year trading update for 2025, highlighting strong financial performance and strategic progress. Key points include
1. **Revenue Growth**FY 2025 revenues are expected to reach £166-169 million, a 30% increase from 2024 and nearly 90% growth since 2023, driven by sustained demand for viral vector services and operational efficiency.
2. **EBITDA Profitability**OXB achieved EBITDA profitability in 2025, with mid-to-high single-digit £ million Operating EBITDA, including a non-recurring gain from the Durham, NC acquisition. Underlying EBITDA (excluding the acquisition) is in line with guidance at low single-digit £ million.
3. **Contracted Orders**The contracted value of client orders increased by 20% to £224 million, reflecting strong demand from existing and new clients.
4. **Financial Position**OXB strengthened its balance sheet with a £60 million equity raise and a new $125 million loan facility, supporting capacity expansion and growth initiatives.
5. **Future Outlook**The company reiterated its guidance, expecting FY 2026 revenues of £220-240 million, with 25-30% annual growth in 2027 and 2028. EBITDA margins are projected to exceed 10% in 2026 and reach at least 20% in 2027, with long-term potential to approach 30%.
6. **Preliminary Results**OXB will announce its preliminary results for 2025 on March 26, 2026, with a virtual analyst briefing led by CEO Dr. Frank Mathias.
The update underscores OXBs successful execution of its CDMO strategy, strong commercial momentum, and optimism for continued growth and profitability in the coming years.