| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.8 | 1.0 | 1.0 | 2.2 | 2.9 | 1.4 | −52.8% | |
| Cost of revenue | 0.2 | 0.3 | 0.4 | 2.6 | 1.1 | 6.1 | +467.1% | |
| Gross profit | 0.6 | 0.7 | 0.6 | (0.4) | 1.8 | (4.8) | −369.3% | |
| Research & development | 3.7 | 3.4 | 4.5 | 9.5 | 1.8 | 0.0 | −100.0% | |
| Selling, general & administrative | 0.4 | 0.3 | 0.6 | 0.4 | 0.5 | 15.4 | +3287.7% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 14.3 | 17.9 | 24.8 | 21.4 | 16.9 | 15.4 | −8.7% | |
| Operating income | (13.7) | (17.2) | (24.2) | (21.8) | (15.1) | (20.2) | −33.8% | |
| Interest expense | 0.1 | 0.2 | 0.4 | 0.3 | 0.3 | 0.3 | −7.2% | |
| Interest income | 0.1 | 0.0 | 0.1 | 0.5 | 0.4 | 0.1 | −68.2% | |
| Other income / expense | (0.0) | (0.1) | (0.2) | 0.1 | 0.1 | 0.8 | +1089.6% | |
| Pre-tax income | (13.7) | (17.4) | (24.4) | (21.6) | (15.0) | (19.4) | −29.1% | |
| Income tax | (2.1) | (2.4) | (2.8) | (1.5) | (0.8) | 0.1 | +112.6% | |
| Net income | (11.6) | (15.0) | (21.7) | (20.1) | (14.2) | (19.5) | −37.1% | |
| 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) | (0.07) | (0.07) | (0.09) | (0.08) | (0.05) | (0.06) | −14.3% | |
| EPS, diluted (per share) | (0.07) | (0.07) | (0.09) | (0.08) | (0.05) | (0.06) | −14.3% | |
| EBITDA | (12.3) | (15.7) | (22.1) | (19.5) | (13.0) | (14.6) | −12.0% | |
| Depreciation & amortization | 1.4 | 1.5 | 2.0 | 1.8 | 1.7 | 5.6 | +231.2% | |
| Weighted average shares (shares) | 178,036,093 | 225,073,380 | 246,579,644 | 260,888,072 | 294,932,245 | 353,834,856 | +20.0% | |
| Weighted average diluted shares (shares) | 178,036,093 | 225,073,380 | 246,579,644 | 260,888,072 | 294,932,245 | 353,834,856 | +20.0% | |
| Gross margin | 78.3% | 70.2% | 58.9% | −18.7% | 62.2% | −354.6% | −416.8 pts | |
| Operating margin | −1,802.0% | −1,701.4% | −2,325.4% | −995.4% | −527.5% | −1,495.6% | −968.1 pts | |
| Net margin | −1,523.1% | −1,481.9% | −2,083.2% | −921.0% | −497.0% | −1,444.0% | −947.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
