Oxford Metrics (OMG) H1 2026 earnings summary

Executive summary

• Revenue grew 3% year-over-year to £20.7m for the first six months of FY2024/FY26, driven by strong Motion Capture performance and international contract wins.

• The group is focused on transforming into a higher quality, more predictable business by shifting Vicon from hardware-led sales to a platform model with recurring revenue, and IVMS from bespoke projects to repeatable products, both targeting significant market growth and operational efficiency.

• Strategic priorities advanced, including integration of Sempre and IVS into IVMS, ongoing cost optimisation, and a deliberate plan to optimize structure, reduce overheads, and invest in R&D and M&A.

Financial highlights

• Revenue for the first six months was £20.7m, up 3% year-on-year, with Motion Capture up 10% to £16.3m and Vision Metrology down 17% to £4.4m due to project timing.

• Gross profit margin improved to 66.0%, up 0.5 points year-on-year.

• Adjusted EBIT improved by 50% to negative £0.2m, reflecting overhead optimization and improved sales.

• Adjusted EPS turned positive at 0.38p, aided by profit improvement and share buybacks.

• Cash and fixed term deposits stood at £31.7m after £3.7m dividend and £1.3m share buybacks.

Outlook and guidance

• Medium-term ambition is to double revenue to ~£90m, with recurring revenue targeted at 25% of total and group EBIT margin in the mid-teens.

• FY26 revenue for the 15-month period expected at approximately £56m, with some Vision Metrology revenue delayed to Q4.

• Further cost optimisation initiatives identified, targeting £1.0–1.6m annualised savings from FY27.

• Growth will be driven by both organic initiatives and disciplined M&A, with recurring revenue and productization as key levers.

• Management maintains positive outlook, supported by strong Motion Capture pipeline and improved Vision Metrology visibility.