Oxford Biomedica

OXB · Main Market · Health Care · mcap £631m · 514.0p

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

Source: results 22 Sep 26 ↗

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

Market cap: £622.2m
Owner’s net cash: £21.4m
Net cash / market cap: 3%
EV ex leases: £600.8m
Revenue: £175.4m
Operating profit: −£28.0m
Free cash flow after leases: −£46.3m
FCF yield: -7.4%
Price / tangible book: 10.71×
Net income (owners): −£40.7m

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 22 Sep 26 · read the results ↗

Source ↗

	2026 £'000	2025 £'000
Revenue	79,845	73,223
Cost of sales	(50,708)	(41,566)
Gross profit	29,137	31,657
Operating costs	(29,024)	(30,346)
Innovation costs	(2,288)	(1,984)
Commercial costs	(3,808)	(2,885)
Administration expenses	(15,879)	(20,638)
Impairment of assets	(7,636)	-
Other operating income	425	623
Operating (loss)	(29,073)	(23,573)
Finance income	1,834	4,429
Finance costs	(8,978)	(6,886)
(Loss) before tax	(36,217)	(26,030)
Taxation	(744)	(847)
(Loss) for the period	(36,961)	(26,877)
Other comprehensive expense
Loss on hedged instruments	(206)	-
Foreign currency translation differences	1,093	(4,974)
Other comprehensive income / (expense)	887	(4,974)
Total comprehensive loss	(36,074)	(31,851)
(Loss) attributable to
Owners of the Company	(36,961)	(26,360)
Non-controlling interest	-	(517)
Total (Loss) attributable to	(36,961)	(26,877)
Total comprehensive loss attributable to
Owners of the Company	(36,074)	(31,334)
Non-controlling interest	-	(517)
	(36,074)	(31,851)
Earnings per share
Basic (loss) per ordinary share	(30.39)	(25.35)
Diluted (loss) per ordinary share	(30.39)	(25.35)

Source ↗

	30 Jun 2026 £'000	31 Dec 2025 £'000
Assets
Non-current assets
Intangible assets & goodwill	24,302	25,168
Property, plant and equipment	98,823	107,628
Trade and other receivables	7,395	7,275
Total non-current assets	130,520	140,071
Current assets
Inventories	26,513	17,330
Trade and other receivables	66,630	71,268
Derivative financial instruments	-	166
Cash and cash equivalents	75,283	96,884
Total current assets	168,426	185,648
Current liabilities
Trade and other payables	25,891	35,364
Derivative financial instruments	40	-
Contract liabilities	42,682	42,327
Deferred income	423	472
Lease liabilities	7,132	6,057
Total current liabilities	76,168	84,220
Net current assets	92,258	101,428
Non-current liabilities
Provisions	7,578	7,391
Contract liabilities	5,109	85
Deferred income	485	606
Loans	53,845	41,488
Lease liabilities	97,666	100,583
Total non-current liabilities	164,683	150,153
Net Assets	58,095	91,346
Equity attributable to owners of the parent
Ordinary shares	60,520	60,377
Share premium account	446,271	445,849
Other reserves	8,358	7,471
Accumulated losses	(457,054)	(422,351)
Total equity	58,095	91,346

Source ↗

	2026 £’000	2025 £’000
Cash flows from operating activities
Cash used in operations	(23,750)	(1,498)
Tax credit received	6,313	5,128
Net cash (used in)/generated from operating activities	(17,437)	3,630
Cash flows from investing activities
Purchases of property, plant and equipment	(6,894)	(1,509)
Purchases of intangible assets	(243)	-
Proceeds on disposal of PPE	-	194
Interest received	1,834	1,076
Net cash (used in) investing activities	(5,303)	(239)
Cash flows from financing activities
Proceeds from issue of ordinary share capital	484	94
Acquisition without change in control	-	(1,998)
Payment of lease liabilities	(4,053)	(1,200)
Payment of lease liabilities interest	(4,735)	(4,410)
Loans received	11,093	-
Loans repaid	-	(287)
Interest paid	(2,744)	(2,352)
Net cash generated from/ (used in) from financing activities	45	(10,153)
Net decrease in cash and cash equivalents	(22,695)	(6,762)
Cash and cash equivalents at 1 January	96,884	60,650
Movement in foreign currency balances	1,094	(11)
Cash and cash equivalents at 30 June	75,283	53,877

Source ↗

	Dec-25 £'000	Dec-24 £'000
Continuing operations
Revenue	168,741	128,797
Cost of sales	(102,761)	(75,776)
Gross profit	65,980	53,021
Operating costs	(50,738)	(57,261)
Innovation costs	(5,062)	(4,544)
Commercial costs	(6,964)	(6,356)
Administration expenses	(36,759)	(29,420)
Other operating income	1,142	3,533
Gain on bargain purchase	9,917	1,721
Loss on sale and leaseback	-	(69)
Operating loss	(22,484)	(39,375)
Finance income	5,182	3,236
Finance costs	(14,634)	(11,126)
Loss before tax	(31,936)	(47,265)
Taxation expense	1,291	(1,344)
Loss for the period	(30,645)	(48,609)
Other comprehensive expense Gain on hedged instruments	147	-
Foreign currency translation differences	(3,156)	(737)
Other comprehensive expense	(3,009)	(737)
Total comprehensive expense	(33,654)	(49,346)
Loss attributable to
Owners of the Company	(30,128)	(43,190)
Non-controlling interest	(517)	(5,419)
Total loss attributable to	(30,645)	(48,609)
Total comprehensive expense attributable to
Owners of the Company	(33,137)	(43,878)
Non-controlling interest	(517)	(5,468)
	(33,654)	(49,346)
Basic and Diluted (loss) per ordinary share	(26.92)	(41.75)

Source ↗

	Dec-25 £'000	Dec-24 £'000
Group
Assets
Non-current assets
Intangible assets & goodwill	25,168	29,219
Property, plant and equipment	107,628	64,296
Trade and other receivables	7,275	4,934
Total non-current assets	140,071	98,449
Current assets
Inventories	17,330	13,573
Trade and other receivables	71,268	58,971
Derivative financial instruments	166	-
Cash and cash equivalents	96,884	60,650
Total current assets	185,648	133,194
Current liabilities
Trade and other payables	35,364	26,169
Provisions	-	1,152
Contract liabilities	42,327	23,630
Deferred income	472	562
Loans	-	281
Lease liabilities	6,057	4,139
Put/ call option liability	-	2,388
Total current liabilities	84,220	58,321
Net current assets	101,428	74,873
Non-current liabilities
Provisions	7,391	7,424
Contract liabilities	85	50
Deferred income	606	1,020
Loans	41,488	39,790
Lease liabilities	100,583	64,551
Total non-current liabilities	150,153	112,835
Net assets	91,346	60,487
Equity attributable to owners of the parent
Ordinary shares	60,377	52,981
Share premium account	445,849	394,856
Other reserves	7,471	8,709
Accumulated losses	(422,351)	(399,500)
Equity attributable to owners of the Company	91,346	57,046
Non-controlling interest	-	3,441
Total equity	91,346	60,487

Source ↗

	2025 £'000	2024 £'000
Group
Cash flows from operating activities
Cash (Consumed in)/generated from	(4,623)	( 50,666 )
R&D tax credit received	5,130	-
Net cash generated/(consumed in) from operating activities	507	( 50,666 )
Cash flows from investing activities
Acquisition of subsidiary, net of cash acquired	( 3,337 )	9,004
Purchases of property, plant and equipment	( 4,761 )	( 7,496 )
Interest received	2,375	4,124
Net cash (used in)/generated from investing activities	(5,723)	5,632
Cash flows from financing activities
Proceeds from issue of ordinary share capital	58,058	17,526
Acquisition without change in control	(1,997)	-
Interest paid	( 4,583 )	( 4,086 )
Loans repaid	( 38,774 )	(466)
New loans undertaken	41,954	-
Payment of lease liabilities capital	( 4,064 )	( 4,723 )
Payment of lease liabilities interest	( 8,334 )	( 5,343 )
Net cash generated from financing activities	42,260	2,908
Net Increase/(decrease) in cash and cash equivalents	37,044	( 42,126 )
Cash and cash equivalents at 1 January	60,650	103,716
Movement in foreign currency balances	(810)	(940)
Cash and cash equivalents at 31 December	96,884	60,650

	LTM Jun 26	FY 25	FY 24
Revenue to operating profit
Revenue	175.4	168.7	128.8
Gross profit	63.5	66.0	53.0
Operating profit	(28.0)	(22.5)	(39.4)
Amortisation	2.3	2.3	2.3
Share-based payments	5.0	4.7	1.7
Operating profit to net income
Finance costs	(16.7)	(14.6)	(11.1)
Profit before tax	(42.1)	(31.9)	(47.3)
Tax	1.4	1.3	(1.3)
Net income (owners)	(40.7)	(30.1)	(43.2)
Per share
EPS basic	(32.0p)	(26.9p)	(41.8p)
EPS diluted	(32.0p)	(26.9p)	(41.8p)

	H1 26	vs H1 25	H2 25	H1 25
Revenue to operating profit
Revenue	79.8	+9%	95.5	73.2
Gross profit	29.1	−8%	34.3	31.7
EBITDA	(7.8)	n/m	–	(8.3)
Operating profit	(29.1)	n/m	1.1	(23.6)
Amortisation	1.3	+2%	1.0	1.2
Share-based payments	2.3	+17%	2.7	2.0
Operating profit to net income
Finance costs	(9.0)	+30%	(7.7)	(6.9)
Profit before tax	(36.2)	n/m	(5.9)	(26.0)
Tax	(0.7)	−12%	2.1	(0.8)
Net income (owners)	(37.0)	n/m	(3.8)	(26.4)
Per share
EPS basic	(30.4p)	–	(1.6p)	(25.4p)
EPS diluted	(30.4p)	–	(1.6p)	(25.4p)

	LTM Jun 26	FY 25	FY 24
Operating activities
Cash from operations	(20.6)	0.5	(50.7)
Interest paid	(5.0)	(4.6)	(4.1)
Investing activities
Capex (PP&E)	(10.1)	(4.8)	(7.5)
Financing activities
Lease principal paid	(6.9)	(4.1)	(4.7)
Lease interest paid	(8.7)	(8.3)	(5.3)
Shares issued	58.4	58.1	17.5

	H1 26	vs H1 25	H2 25	H1 25
Operating activities
Cash from operations	(17.4)	n/m	(3.1)	3.6
Interest paid	(2.7)	+17%	(2.2)	(2.4)
Investing activities
Capex (PP&E)	(6.9)	+357%	(3.3)	(1.5)
Capex (intangibles)	(0.2)	–	–	–
Financing activities
Lease principal paid	(4.1)	+238%	(2.9)	(1.2)
Lease interest paid	(4.7)	+7%	(3.9)	(4.4)
Shares issued	0.5	n/m	58.0	0.1

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Property, plant & equipment	98.8	107.6	64.3
Current assets
Inventories	26.5	17.3	13.6
Trade receivables	66.6	71.3	59.0
Cash	75.3	96.9	60.6
Current assets	168.4	185.6	133.2
Current liabilities
Trade payables	25.9	35.4	26.2
Borrowings, current	–	0.0	0.3
Lease liabilities, current	7.1	6.1	4.1
Current liabilities	76.2	84.2	58.3
Non-current liabilities
Borrowings, non-current	53.8	41.5	39.8
Lease liabilities, non-current	97.7	100.6	64.6
Equity
Non-controlling interests	–	0.0	3.4
Total equity	58.1	91.3	60.5
Net cash and other figures
Shares in issue	121.0m	120.8m	106.0m

	30 Jun 26	31 Dec 25	31 Dec 24
Non-current assets
Property, plant & equipment	98.8	107.6	64.3
Current assets
Inventories	26.5	17.3	13.6
Trade receivables	66.6	71.3	59.0
Cash	75.3	96.9	60.6
Current assets	168.4	185.6	133.2
Current liabilities
Trade payables	25.9	35.4	26.2
Borrowings, current	–	0.0	0.3
Lease liabilities, current	7.1	6.1	4.1
Current liabilities	76.2	84.2	58.3
Non-current liabilities
Borrowings, non-current	53.8	41.5	39.8
Lease liabilities, non-current	97.7	100.6	64.6
Equity
Non-controlling interests	–	0.0	3.4
Total equity	58.1	91.3	60.5
Net cash and other figures
Shares in issue	121.0m	120.8m	106.0m

Read automatically from each results announcement. Check the source before relying on a figure.

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Company filings. Not investment advice.