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Oxford Immunotec Global PLC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2020 10-Q, filed Nov 3, 2020. Its latest SEC filing is a SC 13G/A from Feb 14, 2022.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells tuberculosis test kits and related reagents and performs tuberculosis testing for hospitals, laboratories and public institutions.

How Did They Make Money?

Most revenue comes from selling test kits and accessories to distributors, institutions and laboratories, counted at a point in time; the U.K. laboratory earns service revenue when it delivers test results.

FY2019 revenue by product or service revenue
SegmentShareRevenue
Product
Sold outright

95%
FY2016: 92%
Service
Sold outright
5.4%
FY2016: 8.3%

Who Were Their Customers?

Hospitals, laboratories and public institutions buy test kits directly in the United States, China, Japan and many European countries; elsewhere, distributors market and sell the test. The U.K. laboratory tests samples sent by customers.

Customers above 10% of revenue, FY2019
of revenue from four customers (15%, 15%, 15%, 27%)

Did Revenues Turn Into Profits?

No. It lost $1.8M in FY2019.

Operating income, FY2019
−8% of revenue
▼ −70% (Loss) vs FY2018 (−$20.7M, −35%)
Net income, FY2019
−2% of revenue
▼ Now a loss vs FY2018 ($120.8M, 202%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q3 FY2020, the three months to Sep 30, 2020
Revenue
▼ −8%
vs $21.2M in Q3 FY2019
Net income
▼ Now a loss
vs $717K in Q3 FY2019
  • Mar 8, 2021 PerkinElmer acquired Oxford Immunotec The company became a subsidiary of Bidco and sought removal of its Nasdaq listing.
  • Apr 3, 2020 The company withdrew its full-year revenue guidance It cited a significant decline in testing demand in countries beyond China as access to testing sites was restricted.

Grew. Revenue grew 17% in 4 years, from $62.8M in FY2015 to $73.7M in FY2019, about 4% a year.

Narrower product focus The earlier report described products and development programs for tick-borne diseases, blood screening and transplantation alongside tuberculosis. The latest report centers its offering on T-SPOT.TB, with development mainly aimed at improving that test.

Revenue over time
Product Service
$100M$50M$0

Who Did They Compete With?

Competes with Qiagen and Diasorin

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