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Highlights

  • OMG revenue declined 14% YoY to GBP 20.1 million in H1FY25 from GBP 23.5 million.
  • The company launches Vicon Markerless, advancing its motion capture technology portfolio.
  • Oxford Metrics completes Sempre acquisition and expands smart manufacturing operations

Oxford Metrics plc (LSE:OMG), a UK-based provider of smart sensing and software technologies for the life sciences, entertainment, engineering, and manufacturing sectors, reported interim unaudited financial results for the six months ended 31 March 2025. The company recorded a 14% YoY decline in revenue, generating GBP 20.1 million in the period, compared to GBP 23.5 million in H1FY24. The decline was in line with management expectations, attributed to an exceptionally high revenue base in the prior year, driven by a large opening order book and the final delivery of the largest order in the company's history. Group adjusted EBIT fell to a loss of GBP 0.4 million, compared to a profit of GBP 3.0 million in the previous corresponding period. Basic earnings per share dropped to -0.63p from 2.34p in H1FY24.

Cash generation from operating activities improved to GBP 2.8 million, up from GBP 2.2 million in H1 FY24, aided by working capital efficiencies. The company’s net cash position stood at GBP 39.9 million as of 31 March 2025, down from GBP 54.8 million a year earlier. The reduction reflects the GBP 5.5 million acquisition of Sempre Group, GBP 4.2 million in dividend payments, and a GBP 3.6 million share buyback. The Board has since approved a further GBP 4 million extension of the buyback programme, bringing the total to GBP 10 million.

Oxford Metrics launched its Vicon Markerless motion capture system in March 2025 after several years of development. The product aims to simplify motion capture workflows for visual effects teams. Initial commercialisation has begun, with demonstrations underway globally. The system has already been implemented in Dreamscape Immersive’s latest virtual reality experience.

Meanwhile, the company’s marker-based Vicon segment continued to secure new contracts and upgrades across multiple regions and customer groups.

The smart manufacturing division, which includes Industrial Vision Systems (IVS) and the recently acquired Sempre, reported revenues of 194% YoY to GBP 5.3 million up from GBP 1.8 million in H1 FY24. Revenue contributions from Sempre accounted for GBP 3.6 million. Organic growth for the division declined slightly by 3% due to contract delivery delays, though these were resolved after the period ended.

Oxford Metrics is integrating the operations of Sempre and IVS, combining Sempre’s precision and distribution strengths with IVS’s vision technology. Dr. Simon Gunter has been appointed managing director of the division. In addition, the post-period acquisition of Amber Optix Ltd further expanded product capabilities.

Trading in the second half of FY25 has begun in line with Oxford Metrics’ usual seasonal trends. Activity has picked up for Vicon in South America, Asia Pacific, and Europe. However, the company noted challenges in the United States where recent policy changes affecting institutional and academic funding have led to delayed or cancelled orders an important factor given the size of Oxford Metrics' US customer base.

Despite these pressures, management maintains its full-year outlook. Adjusted EBIT is expected to be in line with previous guidance, assuming the continued conversion and execution of pipeline opportunities at historical rates.