Oxford Nanopore Technologies plc (OTCPK:ONTTF) Q4 2024 Results Conference Call March 4, 2025 4:30 AM ET
Company Participants
Gordon Sanghera – Chief Executive Officer
Nick Keher – Chief Financial Officer
Conference Call Participants
Charles Weston – RBC
James Gordon – JPMorgan
Paul Cuddon – Deutsche Bank
Sam England – Berenberg
Giang Nguyen – Citi
David Westenberg – Piper Sandler
Miles Dixon – Peel Hunt
Gordon Sanghera
Good morning, and welcome to our 2024 full results. I’m Gordon Sanghera, Chief Executive of Oxford Nanopore, and I’m joined today by our CFO, Nick Keher.
This March marks 20th anniversary of Oxford Nanopore, which I co-founded in 2005 with a spinout from Oxford University. The Company’s vision is to enable the analysis of anything by anyone, anywhere. At the core of the company is our electronic single molecule sensing platform that we launched just over 10 years ago. A decade of Nanopore sequencing has delivered over 14,000 customer publications with approximately 3,000 publications in ’24 alone.
Today, we’re established in more than 125 countries. We’ve seen sustainable compound annual growth over the last 3 years, but greater than 30%. We have manufacturing built from the bottom up that is scalable and will allow us to hit our medium-term growth and margin targets.
Getting straight into our results for 2024. In the second half of ’24, our revenues were GBP 99 million. That is underlying year-on-year growth of 34% on a constant currency basis. Our full year revenues were GBP 183 million, which is 23% underlying constant currency growth. This is in line with our full year guidance of 20% to 30% that we set out last March. And I want to remind you that 74% of our revenues come from our consumable sales, that’s our Flow Cells and Kits.
So how are we
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