Oxford BioMedica PLC on Tuesday said it expects to report revenue at the upper end of guidance as contracted orders increased.
The Oxford, England-based gene and cell therapy developer said revenue rose around 30% in 2025 to between £166 million and £169 million, from £128.8 million in 2024.
It sees constant currency revenue between £168 million and £171 million, at the upper end of the £160 million to £170 million guidance range.
The firm expects to report mid-to-high single-digit million operating earnings before interest, tax, depreciation and amortisation profitability, which includes a larger than expected non-recurring gain from the purchase of a viral vector manufacturing facility in Durham, North Carolina.
On an underlying basis, excluding the impact of this acquisition, operating Ebitda is expected to be in line with guidance of low single-digit million profitability, helped by increased revenue growth.
Oxford BioMedica said it closed the year with a gross cash position of £96.9 million and a net cash position of £55.4 million, after being strengthened by a £60 million equity raise and a new four-year loan facility during the year.
The contracted value of client orders reached £224 million in 2025, up 20% from £186 million in 2024. The revenue backlog was £204 million at the end of the year, up from £150 million a year prior.
Oxford BioMedica expects to deliver above-market revenue growth and an expansion of Ebitda margins.
It sees 2026 revenue between £220 million and £240 million, with between 25% and 30% on-year revenue growth in 2027 and 2028.
The operating Ebitda margin is expected to exceed 10% in 2026 and be at least 20% for 2027, with long-term potential to approach 30% within a five-to-six year period.
‘2025 has been a milestone year for OXB, in which we continued to successfully execute our pure-play [contract development and manufacturing organisation] strategy and expect to deliver an outstanding full-year performance with continued strong revenue growth and Ebitda-level profitability,’ said Chief Executive Officer Frank Mathias.
‘Expected 2025 revenues represent a nearly 90% growth since 2023, further demonstrating the scale and momentum we have built over the past two years. These results reflect sustained demand for our viral vector services, and improved operational efficiency throughout our global network.’
Shares in Oxford BioMedica were down 6.3% at 725.00 pence on Tuesday morning in London.
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