| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 210.0 | 412.0 | 413.0 | 386.0 | 368.0 | 218.0 | −40.8% | |
| Cost of revenue | 2.0 | 3.0 | 14.0 | 32.0 | 30.0 | 57.0 | +90.0% | |
| Gross profit | 220.0 | 412.0 | 399.0 | 354.0 | 338.0 | 161.0 | −52.4% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 4.0 | 6.0 | 3.0 | 4.0 | 4.0 | 4.0 | +0.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 4.0 | 8.0 | 5.0 | 7.0 | 5.0 | (164.0) | −3380.0% | |
| Operating income | 186.0 | 424.0 | 405.0 | 347.0 | 333.0 | 325.0 | −2.4% | |
| Interest expense | 2.0 | 3.0 | 14.0 | 32.0 | 30.0 | 18.0 | −40.0% | |
| Interest income | 94.0 | 109.0 | 157.0 | 185.0 | 197.0 | 218.0 | +10.7% | |
| Other income / expense | 20.0 | (20.0) | (10.0) | 52.0 | (16.0) | (30.0) | −87.5% | |
| Pre-tax income | 206.0 | 404.0 | 394.0 | 347.0 | 333.0 | 295.0 | −11.4% | |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Net income | 206.0 | 404.0 | 394.0 | 347.0 | 333.0 | 295.0 | −11.4% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | 0.23 | 0.45 | 0.44 | 0.38 | 0.36 | 0.32 | −11.1% | |
| EPS, diluted (per share) | 0.23 | 0.45 | 0.44 | 0.38 | 0.36 | 0.32 | −11.1% | |
| EBITDA | 208.0 | 412.0 | 394.0 | 347.0 | 333.0 | 313.0 | −6.0% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 774,632,000 | 774,632,000 | 774,632,000 | 922,400,000 | 922,400,000 | 922,400,000 | +0.0% | |
| Weighted average diluted shares (shares) | 774,632,000 | 774,632,000 | 774,632,000 | 922,400,000 | 922,400,000 | 922,400,000 | +0.0% | |
| Gross margin | 104.8% | 100.0% | 96.6% | 91.7% | 91.8% | 73.9% | −18.0 pts | |
| Operating margin | 88.6% | 102.9% | 98.1% | 89.9% | 90.5% | 149.1% | +58.6 pts | |
| Net margin | 98.1% | 98.1% | 95.4% | 89.9% | 90.5% | 135.3% | +44.8 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
