Oxford Nanopore Technologies (ONT)

LONDON (ShareCast) - (Sharecast News) - Shares in Oxford Nanopore Technologies fell sharply in morning trading on Monday, after the FTSE 250 firm lowered its medium-term guidance.
The loss-making company - a specialist in nanopore-based molecular sensing technology - posted revenues for the year to 31 December of £223.9m, a 22.2% jump, or 24.2% on a constant currency basis. Adjusted losses, meanwhile, narrowed to £86.7m from £117.9m.

Oxford Nanopore reiterated plans to reach adjusted earnings before interest, tax, depreciation and amortisation breakeven in the 2027 full-year, and cash breakeven by 2028.

However, constant currency revenue growth was forecast to be between 21% and 25% in both 2026 and 2027. It had previously forecast revenue growth of between 25% and 30% for 2027.

As at 0930 GMT, the stock had tumbled 12% at 116.6p.

The results coincided with Francis Van Parys taking over as chief executive. He is replacing co-founder Gordon Sanghera, who is stepping down after leading the company for more than two decades.

Van Parys said he was joining at an "important stage" in Oxford Nanopore's development. "The company is delivering strong growth and making progress on its path to profitability, underpinned by its differentiated sensing platform and expanding global customer base," he added.

Sanghera said: "Leading Oxford Nanopore for more than two decades has been an extraordinary privilege."

Berenberg said: "Despite a difficult macro environment, the company delivered a strong performance in 2025.

"Despite ongoing macro uncertainty, Oxford Nanopore still expects to reach EBITDA and cash breakeven. However, it has adjusted the assumptions in its medium-term guidance, now expecting lower revenue growth, leading us to lower our revenue forecasts, but higher gross margins and lower operating cost growth.

"Regardless of these changes, we continue to see substantial upside on the share price."

Berenberg trimmed its price target to 230p from 250p but reiterated its 'buy' rating.