Oxford Nanopore Technologies reported Aug. 18 that its first-half 2026 revenue rose 11 percent year over year, in line with preliminary figures disclosed in July.
Alongside the interim results, the company announced a new global cross-licensing agreement with an unnamed diagnostics company and a deal with MyOme to incorporate nanopore sequencing into MyOme’s Zenith rare disease platform.
Under the diagnostics deal, Oxford Nanopore will recognize approximately $20 million in licensing fees in the second half of the year, along with $15 million in committed product purchases over fiscal years 2027 and 2028, and an ongoing net royalty calculated as a low-to-mid-single-digit percentage of revenues from certain products incorporating the licensed intellectual property.
The company did not immediately respond to a request for more information. Additional details of the MyOme deal were not disclosed.
The Oxford, UK-based nanopore sequencing company reported H1 2026 revenue of £116.7 million, up from £105.6 million in H1 2025, and up 12 percent year over year on a constant currency basis. The results came in below management expectations, as previously disclosed, due to weakness in China and the Middle East.
PromethIon products led growth, with revenue up 16 percent year over year to £59.1 million from £51.1 million a year ago, driven by strong demand for the P2i instrument. MinIon revenue grew 4 percent to £28.8 million from £27.6 million a year ago. Other revenue, comprising kits, services, and other devices, grew 7 percent to £28.9 million. By product type, devices and services revenue grew 33 percent to £37.0 million, while consumables revenue grew 3 percent to £79.7 million, with growth muted by the completion of large research contracts and the decline in China.
By end market, research revenue grew 5 percent to £76.0 million from £72.1 million a year ago, reflecting large-scale cohort programs in Europe, the Middle East, Africa, and India (EMEAI) offset by the roll-off of Genomics England and UK National Institute for Health and Care Research (NIHR) contracts. Clinical was the fastest-growing segment, rising 35 percent to £17.6 million from £13.0 million a year ago, driven by growth across all geographic regions. Industrial revenue grew 6 percent to £13.7 million, and biopharma grew 25.0 percent to £9.5 million from £7.6 million, driven by mRNA, direct RNA sequencing, and biomanufacturing quality control applications.
The EMEAI region delivered the strongest growth, with revenue up 25 percent to £55.6 million from £44.6 million a year ago, driven by clinical and biopharma momentum and large-scale cohort sequencing programs. Americas revenue grew 9 percent to £39.1 million from £36.0 million, though growth was slower than anticipated due to the timing of customer orders and contract wins; approximately £900,000 of revenue slipped into Q3 due to shipment timing. Asia-Pacific revenue declined 12 percent to £22.0 million from £24.9 million, driven by a 16 percent decline in China due to enhanced export control restrictions and the completion of the PRECISE II contract in Singapore.
Comprehensive loss for the period was £48.0 million, compared to a loss of £71.8 million in H1 2025.
R&D expenses fell 16 percent to £36.9 million from £44.1 million a year ago, reflecting a reduction in headcount from 2025. SG&A expenses fell 9 percent to £86.4 million from £95.1 million a year ago.
As of June 30, Oxford Nanopore had £234.5 million in cash, cash equivalents, and liquid investments.
Oxford Nanopore maintained its full-year 2026 constant currency revenue growth guidance of 16 to 20 percent, excluding the $20 million non-recurring cross-licensing fee. Including that fee, it expects full-year constant currency growth of approximately 23 to 27 percent.
Oxford nanopore also announced a long-range yearly revenue target of more than $700 million in 2030.
“Our next chapter is about harnessing the collective strength of Oxford Nanopore to deploy our differentiated technology seamlessly and at scale across an ever-expanding customer base,” CEO Francis Van Parys said in a statement. “Our focus is clear: to accelerate adoption in our fastest-growing end markets and realise our longer-term ambition to build Oxford Nanopore into a $1 billion-and-growing annual revenue business.”