Oxford Metrics plc
Oxford Metrics plc (trading as OMG; also historically known simply as OMG) is a smart sensing and software group operating through two divisions. Motion Capture (trading brand Vicon, 71% of FY25 group revenue) is a global leader in motion measurement and analysis hardware/software for life sciences, entertainment and engineering customers. Smart Manufacturing (29% of revenue, comprising Industrial Vision Systems and the newly acquired Sempre Group and Amber Optix) provides machine-vision and metrology-based quality control and automation for automotive, aerospace, medical and electronics manufacturers.
10 annual reports read, FY2016 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (10)
FY2026Next report expected 14 Mar 2027
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Oxford Metrics plc, which makes Vicon motion-capture systems and quality-control technology for factories, grew revenue to £44.8m from £41.5m, but made a loss after tax of £681k, against a profit of £758k the year before. Motion-capture sales fell, as the year began with a far smaller order backlog and US university and entertainment spending weakened, while businesses it bought lifted the factory division. Profit before one-off costs rose to £2.2m, helped by cost savings, but restructuring costs, a write-down of motion-capture technology and acquisition costs pushed the reported result into loss. The company has no borrowings. Cash fell to £15.3m, with more in fixed-term deposits, after it spent £8.3m buying back its own shares. It raised no money from shareholders and is keeping its dividend at 3.25p, which the year's profits do not cover. Management said the new year had started in line with expectations, with a focus on merging its factory businesses and cutting costs. It expects cuts to US public funding for university research to persist. The auditor gave a clean opinion, and the directors see no doubt about the company continuing.
From the reportevery line sits on the page it namesWhat drove revenueVicon motion capture system sales (hardware, software, support) to life sciences, entertainment and engineering customers
Motion Capture revenue £32.0m (FY24: £38.6m), 71% of group revenue
page 6AndSmart Manufacturing inorganic and organic growth via Sempre and Amber Optix acquisitions
Smart Manufacturing revenue grew 341% to £12.8m (FY24: £2.9m), including 38% organic growth
page 7What moved the marginheadwindSales mix shift towards lower-margin Smart Manufacturing
Gross margin decreased to 64.7% (FY24: 66.6%) reflecting the stronger mix of revenue through Smart Manufacturing, which is typically lower margin than Motion Capture
page 10AndtailwindCost efficiencies and restructuring
Annualised cost savings of approximately £1.2m achieved and seen through FY25, supporting a 29% increase in adjusted EBIT to £2.2m
page 9What management saidThe Group has made a solid start to FY26, trading in line with expectations. This year's focus is continued disciplined execution – strengthening sales pipelines, improving operational efficiency and continuing to gain from the benefits of previous investment across both divisions.
page 8After the year endGary Bullard appointed Non-Executive Chair with effect from 4 November 2025; Roger Parry stepped down from the Board on 30 November 2025 after over nine years as Chair
page 21The dividendDirectors are recommending a final dividend of 3.25 pence per share (FY24: 3.25p paid), to be paid 27 March 2026 to shareholders on the register at 13 February 2026, subject to AGM approval. This dividend is not covered by the year's profits but is being recommended given strong operational cash generation and high cash balance. Cash dividends paid in FY25 totalled £4.2m (FY24: £3.6m).
page 11Going concern and the auditDirectors concluded there is no material uncertainty regarding going concern for at least 12 months from signing, based on cash/fixed-term deposits of £37.3m, no external borrowings, and stress testing of revenue shortfall, margin erosion and FX scenarios. BDO LLP issued an unqualified (unmodified) audit opinion stating the financial statements give a true and fair view; key audit matters were revenue recognition cut-off, valuation of goodwill and other intangibles (IVS and Sempre CGUs), valuation of development cost intangibles, and business combinations (Sempre). Group materiality was £550,000 (1.2% of revenue).
page 46The risks it names first- Supply Chain: dependence on third-party suppliers for essential components, materials, IP and technologies; disruption could increase costs and risk lost ordersp.14
- FX volatility: large share of revenue earned in foreign currencies (especially USD and EUR); exchange rate fluctuations can reduce overseas revenues when converted to GBP and affect marginsp.15
- IT and Cybersecurity: reliance on secure IT infrastructure; rapidly evolving, increasingly sophisticated and targeted cyberattacks escalated as a principal risk in FY25p.15
- Geopolitical instability: shifting funding priorities and tariffs/trade barriers in the United States, reduced public research budgets, protectionist measures; this risk escalated in FY25p.15
Read from C000959-AR-2025-ch.
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