Oxford Nanopore Technologies plc Update to revenue guidance (7751R)
09 November 2021 - 06:03PM
UK Regulatory
TIDMONT
RNS Number : 7751R
Oxford Nanopore Technologies plc
09 November 2021
ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE
UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) WHICH
FORMS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018.
9 November 2021
Oxford Nanopore Technologies plc
Update to revenue guidance following expansion of customer
project
Oxford Nanopore Technologies plc (the "Group"), the company
behind a new generation of nanopore-based sensing technology, is
updating its revenue guidance following a significant expansion of
the Group's activities in a large customer project in UAE.
On 9 November 2021, the Group was awarded a new 36-month
contract under which it will provide devices, consumables including
flow cells and kits, and other support services worth approximately
US$68 million.
The new contract with G42 Laboratory, LLC, who provide
sequencing operations in the project, is expected to generate
revenues primarily after the year ended 31 December 2021 ("FY21").
Therefore, the Group is maintaining its guidance of core Life
Science Research Tools ("LSRT") revenue of GBP105-111 million in
FY21, resulting from growth of 60-70% as announced on 14 October
2021.
Given the scale of the new contract, the Group is now
introducing guidance for LSRT revenue of GBP135-145 million for
FY22. The Group is also upgrading its LSRT revenue guidance for
FY23 to GBP170-190 million, compared to its previous expectation of
GBP165 -175 million outlined in its IPO Prospectus.
All revenue guidance figures are provided on a constant currency
basis.
As noted in the IPO Prospectus, an affiliate of G42 Laboratory,
LLC, is a shareholder in the Group.
Media Enquiries
media@nanoporetech.com
Tulchan Group (communications adviser to the Company)
Tom Murray and Deborah Roney
+44 (0) 20 7353 4200 OxfordNanoporeTechnologies@tulchangroup.com
The person responsible for arranging the release of this
announcement on behalf of the Company is Hannah Coote, Company
Secretary of Oxford Nanopore Technologies plc.
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