Source: Sharecast
The gene therapy specialist saw reported revenues climb 31% in the year to December end,to £168.7m, at the upper end of guidance, while the group operating loss narrowed to £22.5m from £39.4m.
Operating earnings before interest, tax, depreciation and amortisation were £8.1m on a constant currency basis, compared to a £15.3m loss a year previously.
Frank Mathias, chief executive, said it had been a year of "outstanding execution".
He continued: "We made targeted investments across our global network to expand capacity and increase efficiency, including the acquisition [of a] manufacturing facility in Durham, North Carolina. This has enhanced our late-stage and commercial capabilities, while strengthening our world class offering to clients."
Looking to the current year, and Oxford Biomedica said it had a revenue backlog of around £204m as at the year-end. It is forecasting annual revenues of between £220m and £240m for 2026 and an operating EBITDA margin of around 10%.
However, it also flagged that both sales and earnings before interest, tax, depreciation and amortisation were set to be second-half weighted in 2026. As a result, the first half was expected to be loss-making on an EBITDA level "due to the phasing of revenues, planned shutdowns and non-recurring costs".
That weighed on the shares and by 1000 GMT, the stock was off 4% at 582.79p.
Mathias said: "With an established and growing position as a leader in viral vector development and manufacturing, an integrated global network and a strong balance sheet, Oxford Biomedica enters 2026 well positioned to deliver on our near and medium-term guidance and continue our trajectory of sustainable profitable growth."
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