Oxford Nanopore flagged slower 2026 revenue growth (21%-25% vs. analyst expectations of ~27.5%) and appointed Francis Van Parys as CEO, replacing founder Gordon Sanghera. Shares fell 13% after the company cited subdued demand in its key EMEAI region, where 2025 growth (26.3%) will likely decline as research projects conclude. APAC faces headwinds from lost contracts, while AMR emerges as the fastest-growing market. For 2025, revenue hit £223.9 million (+24.2% at constant currency), with adjusted EBITDA loss narrowing to £86.7 million, exceeding analyst estimates of £90 million. The firm reaffirmed breakeven timelines: EBITDA by 2027, cash-flow positivity by 2028.

Regional shifts drove the revised guidance. EMEAI’s slowdown contrasts with Clinical (59.9% 2025 growth) and BioPharma (30.4%) segments. Gross margin expanded to 58.6%, though a £3.3 million non-cash charge and currency headwinds tempered gains. 2026 margin guidance of 62% signals optimism despite near-term challenges. Operating costs are projected to grow 0%-5%, below historical norms after 2025 restructuring cuts 138 roles.

Strategic realignment includes sunsetting the P2 Solo device by June 2026 and halting ElysION development. Van Parys, ex-Radiometer CEO, pledged to prioritize segments where Oxford Nanopore holds competitive advantages in a $13 billion-$14 billion target market. Legal battles against MGI (trade secrets) and BGI (contract disputes) remain active, with trials set for 2027. Sanghera, who led the firm for 20+ years, praised its “progress toward profitability.”

What’s next: Van Parys will finalize strategic plans by mid-2026, focusing on high-growth areas. Investors will monitor EMEAI’s recovery and litigation outcomes. The stock’s volatility underscores risks in translating R&D into sustained revenue, particularly as Oxford Nanopore balances innovation with profitability.