RE: Everything on track. Business expanding ss predicted3 Sep 2024 07:48
Oxford Nanopore reports solid H1 results despite market challenges, reaffirms full-year guidance
• Oxford Nanopore Technologies reported its interim results for the six months ended June 30, 2024.
• Revenue was flat at constant currenc, in line with expectations.
• Underlying revenue, excluding COVID sequencing and the Emirati Genome Program, increased by 12.4% at constant currency.
• Gross margin improved by 120 basis points to 58.8%, driven by underlying margin improvements and offsetting product mix and currency headwinds.
• The company reiterated its full-year guidance, expecting underlying revenue growth of 20-30% at constant currency and a gross margin of approximately 57%.