In This Article:
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Total Revenue: GBP128.8 million, a 44% increase over the previous year.
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Organic Revenue Growth: 81% in 2024.
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Client Orders: GBP186 million in 2024, a 35% increase from the previous year.
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Operating EBITDA Loss: Narrowed to GBP15.3 million from GBP52.8 million in 2023.
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Cash Position: GBP60.7 million at year-end, with a net cash position of GBP20.6 million.
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Revenue Backlog: Just under GBP200 million at the end of February 2025.
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2025 Revenue Guidance: Expected between GBP160 million and GBP170 million.
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2025 Operating EBITDA: Expected to achieve a low single-digit million profit.
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Cost Base Reduction: Operating expenses decreased by 24% to GBP97.6 million.
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Cash Outflow: GBP42.1 million in 2024, driven by operations and working capital movement.
Release Date: April 09, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Oxford BioMedica PLC (OXBDF) achieved an impressive organic revenue growth of 81% in 2024, with total revenues increasing by 44% to GBP128.8 million.
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The company reported a significant improvement in operating EBITDA, narrowing the loss from GBP52.8 million in 2023 to GBP15.3 million in 2024, and achieving a GBP5 million operating EBITDA profit in the second half of 2024.
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Oxford BioMedica PLC (OXBDF) expanded its operational footprint by acquiring a site in France, enhancing its ability to meet growing demand across Europe.
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The company launched the inAAVate platform for better AAV production, which is expected to enhance vector yield and quality.
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Oxford BioMedica PLC (OXBDF) has a strong commercial momentum with contracted client orders reaching GBP186 million in 2024, a 35% increase from the previous year.
Negative Points
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Despite the revenue growth, Oxford BioMedica PLC (OXBDF) still reported an operating EBITDA loss of GBP15.3 million for 2024.
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The company faces potential challenges from US tariffs, which could impact costs and supply chains, although the exact impact remains uncertain.
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There is a risk of delays in early-stage activities due to potential difficulties in accessing funds, which could affect the pipeline.
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The company has a significant exposure to FX fluctuations, with revenues receivable in multiple currencies, which could impact financial performance.
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Oxford BioMedica PLC (OXBDF) postponed investment in Oxbox manufacturing capacity, indicating potential constraints in expanding production capabilities in the short term.
Q & A Highlights
Q: Can you discuss your exposure to tariffs, particularly regarding exports from the UK to the US? A: Frank Mathias, CEO: We are monitoring the situation closely. We have a site in the US, which positions us well to adapt. We don't export directly to the US; we deliver at the UK facility. The impact of tariffs is expected to be low, and we are prepared to adjust our supply chains if necessary.