Oxford Nanopore reports revenues of around £199m

By Sam Pither

18 January 2023

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Female and Male Medical Research Scientists Have a Conversation While Conducting Experiments in Test Tubes with Liquid Samples with and in Beakers with Solid Speciments. Modern Science Laboratory.

Oxford Nanopore Technologies plc, which develops molecular sensing technology based on nanopores, expects to report total revenue of approximately £199 million, for 2022.

It said performance for December 2022 is expected to be in line with the Life Science Research Tools (“LSRT”) revenue guidance set out in the Group’s 2021 annual results, on 22 March 2022.

Gordon Sanghera, Chief Executive Officer, said: “Oxford Nanopore continues to demonstrate strength and resilience with strong core revenues driven by growth across all customer groups in 2022. This reflects an increase in global demand for our DNA/RNA sequencing technology across many areas of scientific research. Our latest technology improvements have propelled this growth, enabling our customers to generate highly accurate, high-yield, information-rich data, in real time and from any length fragments of DNA/RNA, from short to ultra-long.

“The 2022 launch of the high-yield, highly accessible palm-sized PromethION 2 (P2) Solo device was well received and is further expanding our growing PromethION² user base. This launch coupled with our Q20+ chemistry continues to establish Nanopore as a highly accessible, accurate, information rich platform at any scale.

“With a single high-performance technology for all users’ sequencing needs, we enter 2023 with good momentum as we continue to invest in our operational expansion alongside our innovation.”

The Group expects to report LSRT revenue for the year ended 31 December 2022, of approximately £147 million compared to LSRT revenue of £127.0 million for the year ended 31 December 2021.

It also expects to report total revenue of approximately £199 million, for the year ended 31 December 2022, which includes non-recurring revenue of £51.8 million following the conclusion of its COVID-19 testing contract with the Department of Health and Social Care, compared to total revenue of £133.7 million in 2021.

Featured image: iStock

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.