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(Sharecast News) - Biotechnology firm Oxford Biomedica said on Tuesday that strong commercial momentum and expanding manufacturing capacity continued to underpin its longterm growth outlook, as the group reiterated fullyear guidance alongside a solid firsthalf performance.
Oxford Biomedica delivered 10% constantcurrency revenue growth in H126 to £80.2m, supported by demand across manufacturing and development services.
Revenue visibility strengthened, with a backlog of around £193m at 30 June and roughly £168m of forecast FY26 revenue already covered by contracted orders as of September. The nonriskadjusted pipeline expanded by about 30% yearonyear to $713m, with reduced reliance on large clients and strong repeat business.
The FTSE 250-listed firm stated adjusted operating LBITDA improved to a £2.5m loss from a £3.9m loss a year earlier, helped by higher revenues and cost discipline, though gross margins fell to 37% from 43% due to mix effects and oneoff comparatives.
Revenue visibility strengthened, with a backlog of around £193m at 30 June and roughly £168m of forecast FY26 revenue already covered by contracted orders as of September. The nonriskadjusted pipeline expanded by about 30% yearonyear to $713m, with reduced reliance on large clients and strong repeat business.
Operationally, OXB said its Durham, NC GMP manufacturing site is now online, with the first GMP run completed and client activity expected to ramp up in the second half following remedial work linked to earlier delays. It also highlighted that it had signed 17 new clients in the period - more than 30% above the total for FY25 - with a further four added after the halfyear, taking its portfolio to 59 programmes and 50 clients.
Looking ahead, Oxford Biomedica reiterated FY26 guidance for £180 to £200m of constantcurrency revenues and midsingledigit underly earnings margins, excluding oneoff costs, and continues to target revenue of around £500m by 2030 with longterm EBITDA margins approaching 30%.
As of 0845 BST, Oxford Biomedica shares were down 0.65% at 462p.
Reporting by Iain Gilbert at Sharecast.com
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