NEW YORK – Oxford Nanopore Technologies said on Tuesday that it expects its 2022 revenue to rise 49 percent year over year.
For the year ended Dec. 31, the firm expects total revenue of approximately £199.0 million ($243.9 million), including non-recurring revenue of £51.8 million from the company’s now-concluded COVID-19 testing contract with the Department of Health and Social Care. This represents a 49 percent increase from 2021, when total revenue was £133.7 million.
The company’s 2022 life science research tools revenue is expected to be roughly £147.0 million, a 16 percent increase from £127.0 million in 2021 and in line with the firm's guidance of £145.0 million to £160.0 million.
"Oxford Nanopore continues to demonstrate strength and resilience with strong core revenues driven by growth across all customer groups in 2022," Oxford Nanopore CEO Gordon Sanghera said in a statement. "With a single high-performance technology for all users' sequencing needs, we enter 2023 with good momentum as we continue to invest in our operational expansion alongside our innovation."
The company said it plans to report its 2022 earnings on March 21, followed by its annual report.