| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 204.4 | (209.7) | (37.7) | 80.3 | (77.5) | 137.2 | +277.0% | |
| Cost of revenue | (17.8) | 4.8 | 5.3 | 2.3 | 1.3 | 4.6 | +250.2% | |
| Gross profit | 222.1 | (214.5) | (43.0) | 78.0 | (78.8) | 132.5 | +268.1% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 3.8 | 3.3 | 3.6 | 3.2 | 3.7 | 3.6 | −3.6% | |
| Selling & marketing | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | −2.3% | |
| Operating expenses | 3.8 | (7.4) | 3.6 | 3.2 | 3.7 | 0.6 | −83.0% | |
| Operating income | 197.3 | (199.8) | (36.7) | 76.5 | (82.5) | 131.9 | +259.8% | |
| Interest expense | 0.2 | 0.2 | 0.8 | 1.1 | 1.3 | 1.1 | −14.0% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.4 | +189.8% | |
| Other income / expense | 3.2 | 7.9 | (4.6) | (1.7) | (2.9) | (1.6) | +44.4% | |
| Pre-tax income | 200.6 | (202.3) | (41.2) | 74.8 | (82.5) | 130.3 | +257.9% | |
| Income tax | 0.1 | 0.1 | 0.1 | 0.2 | 0.1 | 0.0 | −77.9% | |
| Net income | 200.4 | (202.4) | (41.3) | 74.6 | (82.7) | 130.3 | +257.6% | |
| 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) | 5.01 | (4.88) | (1.03) | 2.07 | (2.62) | 5.58 | +313.0% | |
| EPS, diluted (per share) | 5.01 | (4.88) | (1.03) | 2.07 | (2.62) | 5.58 | +313.0% | |
| EBITDA | 197.3 | (10.7) | 0.0 | 75.9 | (82.5) | 131.4 | +259.3% | |
| Depreciation & amortization | 0.0 | 199.8 | 36.7 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 40,046,064 | 41,441,570 | 40,287,724 | 36,041,496 | 31,514,115 | 23,341,371 | −25.9% | |
| Weighted average diluted shares (shares) | 40,046,064 | 41,441,570 | 40,287,724 | 36,041,496 | 31,514,115 | 23,341,371 | −25.9% | |
| Gross margin | 108.7% | 102.3% | 114.1% | 97.1% | 101.7% | 96.6% | −5.1 pts | |
| Operating margin | 96.6% | 95.3% | 97.4% | 95.2% | 106.5% | 96.2% | −10.3 pts | |
| Net margin | 98.1% | 96.5% | 109.7% | 92.8% | 106.7% | 95.0% | −11.7 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
