Oxford Nanopore Technologies

ONT · Main Market · Health Care · mcap £1,957m · 200.0p

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Financials · balance sheet 30 Jun 26 · last twelve months · today’s market value

Source: results 19 Aug 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £1,957m
Owner’s net cash: £142.7m
Net cash / market cap: 7%
EV ex leases: £1,814m
Revenue: £235.0m
Operating profit: −£128.2m
Free cash flow after leases: −£123.9m
FCF yield: -6.3%
Price / tangible book: 5.46×
Net income (owners): −£121.4m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Latest report: H1 26 (six months to 30 Jun 26), published 19 Aug 26 · read the results ↗

Source ↗

	2026 £m	2025 £m
Revenue	116.7	105.6
Cost of sales	(44.1)	(44.2)
Gross profit	72.6	61.4
Research and development expenses	(36.9)	(44.1)
Selling, general and administrative expenses	(86.4)	(95.1)
Loss from operations	(50.7)	(77.8)
Finance income	4.7	6.3
Finance expense	(1.5)	(1.4)
Other gains and losses	2.6	3.9
Loss before tax	(44.9)	(69.0)
Taxation	(3.1)	(2.8)
Loss for the period	(48.0)	(71.8)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Unrealised fair value gains on investment bonds	0.1	2.4
Reclassification to profit or loss on disposal of investment bonds	(2.6)	(3.9)
Fair value movements on investment bonds	(2.5)	(1.5)
Exchange gain / (losses) arising on translation on foreign operations	0.4	(0.3)
Tax on items that may be reclassified subsequently to profit or loss	0.6	0.4
Other comprehensive loss for the period, net of tax	(1.5)	(1.4)
Total comprehensive loss	(49.5)	(73.2)

Source ↗

	30 June 2026 £m	31 December 2025 £m
Assets
Non-current assets
Property, plant and equipment	56.2	61.9
Right of use assets	31.4	30.9
Intangible assets	65.9	55.8
Deferred tax assets	2.0	2.7
Other financial assets	52.1	51.2
Total non-current assets	207.6	202.5
Current assets
Inventory	80.4	81.5
Trade and other receivables	76.7	72.4
Current tax assets	0.4	0.3
R&D tax credit recoverable	15.5	10.5
Other financial assets	42.1	74.2
Cash and cash equivalents	142.7	181.1
Total current assets	357.8	420.0
Total assets	565.4	622.5
Liabilities
Non‑current liabilities
Lease liabilities	36.1	36.3
Share-based payment liabilities	0.4	0.5
Provisions	3.2	4.4
Total non‑current liabilities	39.7	41.2
Current liabilities
Trade and other payables	94.3	108.9
Lease liabilities	5.7	5.2
Derivative financial liabilities	0.1	-
Provisions	1.5	3.9
Net assets	101.6	118.0
Total liabilities	141.3	159.2
Net assets	424.1	463.3
Issued capital and reserves attributable to owners of the parent
Share capital	0.1	0.1
Share premium reserve	789.3	786.4
Share-based payment reserve	236.0	228.6
Translation reserve	(0.5)	(0.9)
Accumulated deficit	(600.8)	(550.9)
Total equity	424.1	463.3

Source ↗

	2026 £m	2025 £m
Net cash outflow from operating activities	(42.8)	(48.4)
Investing activities
Purchase of property, plant and equipment	(2.1)	(2.4)
Intangible assets capitalised	(24.5)	(20.1)
Purchases of IP licenses	(3.5)	–
Interest received	3.4	4.2
Purchase of other financial assets	(29.9)	-
Proceeds from sale of other financial assets	62.8	67.0
Net cash inflow from investing activities	6.2	48.7
Financing activities
Proceeds from issues of shares	2.9	1.0
Principal elements of lease payments	(3.3)	(2.9)
Interest paid on leases	(1.5)	(1.5)
Net cash outflow from financing activities	(1.9)	(3.4)
Net decrease in cash and cash equivalents before foreign exchange movements	(38.5)	(3.1)
Effect of foreign exchange rate movements	0.1	(2.3)
Cash and cash equivalents at beginning of period	181.1	199.5
Cash and cash equivalents at the end of period	142.7	194.1

Source ↗

	2025 £m	2024 £m
Revenue	223.9	183.2
Cost of sales	(92.6)	(77.8)
Gross profit	131.3	105.4
Research and development expenses	(97.7)	(98.9)
Selling, general and administrative expenses	(188.9)	(158.8)
Loss from operations	(155.3)	(152.3)
Finance income	11.8	14.8
Finance expense	(2.8)	(3.6)
Other gains and losses	6.4	1.1
Loss before tax	(139.9)	(140.0)
Taxation	(5.3)	(6.2)
Loss for the year	(145.2)	(146.2)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss
Unrealised fair value gains on investment bonds	3.1	4.6
Reclassification to profit or loss on disposal of investment bonds	(8.2)	(2.0)
Fair value movements on investment bonds	(5.1)	2.6
Exchange losses arising on translation of foreign operations	(0.2)	(0.5)
Tax on items that may be reclassified subsequently to profit or loss	1.3	(0.6)
Other comprehensive (expense)/income for the year, net of tax	(4.0)	1.5
Total comprehensive loss	(149.2)	(144.7)
Note	2025 Pence	2024 Pence
Loss per share	(15.1)	(16.3)

Source ↗

	2025 £m	2024 £m
Assets
Non - current assets
Property, plant and equipment	61.9	66.3
Intangible assets	55.8	43.8
Right-of-use assets	30.9	34.9
Other financial assets	51.2	74.3
Deferred tax assets	2.7	2.6
Total non - current assets	202.5	221.9
Current assets
Inventory	81.5	99.5
Trade and other receivables	72.4	62.7
Current tax assets	0.3	1.2
R&D tax credit recoverable	10.5	18.4
Other financial assets	74.2	138.8
Cash and cash equivalents	181.1	199.5
Total current assets	420.0	520.1
Total assets	622.5	742.0
Liabilities
Non - current liabilities
Lease liabilities	36.3	40.6
Share-based payment liabilities	0.5	0.2
Provisions	4.4	3.4
Total non - current liabilities	41.2	44.2
Current liabilities
Trade and other payables	108.9	102.3
Lease liabilities	5.2	5.4
Provisions	3.9	3.8
Total current liabilities	118.0	111.5
Total liabilities	159.2	155.7
Net assets	463.3	586.3
Issued capital and reserves attributable to owners of the parent
Share capital	0.1	0.1
Share premium reserve	786.4	779.7
Share-based payment reserve	228.6	209.1
Translation reserve	(0.9)	(0.7)
Accumulated deficit	(550.9)	(401.9)
Total equity	463.3	586.3

Source ↗

	2025 £m	2024 £m
Net cash outflow from operating activities	(70.6)	(109.9)
Investing activities
Purchase of property, plant and equipment	(3.5)	(13.9)
Development costs capitalised	(42.2)	(34.7)
Interest received	7.8	9.5
Purchase of other financial assets	(49.9)	-
Proceeds from sale of other financial assets	144.1	54.1
Net cash inflow from investing activities	56.3	15.0
Financing activities
Proceeds from issue of shares	6.7	83.2
Costs of share issue	(0.1)	(2.3)
Principal elements of lease payments	(5.8)	(4.7)
Interest paid on leases	(2.9)	(2.6)
Net cash (outflow)/inflow from financing activities	(2.1)	73.6
Net decrease in cash and cash equivalents before foreign exchange movements	(16.4)	(21.3)
Effect of foreign exchange rate movements	(2.0)	0.3
Cash and cash equivalents at beginning of year	199.5	220.5
Cash and cash equivalents at end of year	181.1	199.5

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	235.0	223.9	183.2
Gross profit	142.5	131.3	105.4
Adjusted EBITDA	(60.5)	(86.7)	(117.9)
Operating profit	(128.2)	(155.3)	(152.3)
Depreciation (owned assets)	–	15.4	13.5
Depreciation (right-of-use)	–	5.5	5.9
Amortisation	–	28.9	23.9
Operating profit to net income
Finance costs	(2.9)	(2.8)	(3.6)
Profit before tax	(115.8)	(139.9)	(140.0)
Tax	(5.6)	(5.3)	(6.2)
Net income (owners)	(121.4)	(145.2)	(146.2)
Per share
EPS basic	(12.5p)	(15.1p)	(16.3p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	116.7	+11%	118.3	105.6
Gross profit	72.6	+18%	69.9	61.4
Adjusted EBITDA	(22.1)	n/m	(38.4)	(48.3)
Operating profit	(50.7)	n/m	(77.5)	(77.8)
Operating profit to net income
Fair value gains / losses	2.6	−33%	–	3.9
Finance costs	(1.5)	+7%	(1.4)	(1.4)
Profit before tax	(44.9)	n/m	(70.9)	(69.0)
Tax	(3.1)	+11%	(2.5)	(2.8)
Net income (owners)	(48.0)	n/m	(73.4)	(71.8)
Per share
EPS basic	(4.9p)	–	(7.6p)	(7.5p)
EPS diluted	(4.9p)	–	–	(7.5p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(65.0)	(70.6)	(109.9)
Investing activities
Capex (PP&E)	(3.2)	(3.5)	(13.9)
Capex (intangibles)	(46.6)	(42.2)	(34.7)
Financing activities
Lease principal paid	(6.2)	(5.8)	(4.7)
Lease interest paid	(2.9)	(2.9)	(2.6)
Shares issued	8.6	6.7	83.2

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(42.8)	n/m	(22.2)	(48.4)
Investing activities
Capex (PP&E)	(2.1)	−12%	(1.1)	(2.4)
Capex (intangibles)	(24.5)	+22%	(22.1)	(20.1)
Financing activities
Lease principal paid	(3.3)	+14%	(2.9)	(2.9)
Lease interest paid	(1.5)	0%	(1.4)	(1.5)
Shares issued	2.9	+190%	5.7	1.0

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other intangibles	65.9	55.8	43.8
Property, plant & equipment	56.2	61.9	66.3
Non-current assets	207.6	202.5	221.9
Current assets
Inventories	80.4	81.5	99.5
Trade receivables	76.7	72.4	62.7
Cash	142.7	181.1	199.5
Current assets	357.8	420.0	520.1
Total assets	565.4	622.5	742.0
Current liabilities
Trade payables	94.3	108.9	102.3
Lease liabilities, current	5.7	5.2	5.4
Current liabilities	–	118.0	111.5
Non-current liabilities
Lease liabilities, non-current	36.1	36.3	40.6
Non-current liabilities	–	41.2	44.2
Total liabilities	141.3	159.2	155.7
Equity
Total equity	424.1	463.3	586.3

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Other intangibles	65.9	55.8	43.8
Property, plant & equipment	56.2	61.9	66.3
Non-current assets	207.6	202.5	221.9
Current assets
Inventories	80.4	81.5	99.5
Trade receivables	76.7	72.4	62.7
Cash	142.7	181.1	199.5
Current assets	357.8	420.0	520.1
Total assets	565.4	622.5	742.0
Current liabilities
Trade payables	94.3	108.9	102.3
Lease liabilities, current	5.7	5.2	5.4
Current liabilities	–	118.0	111.5
Non-current liabilities
Lease liabilities, non-current	36.1	36.3	40.6
Non-current liabilities	–	41.2	44.2
Total liabilities	141.3	159.2	155.7
Equity
Total equity	424.1	463.3	586.3

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