| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46.6 | 52.5 | 32.9 | 48.1 | 55.6 | 56.9 | +2.2% | |
| Cost of revenue | 0.0 | 27.5 | 19.4 | 30.2 | 30.7 | 2.1 | −93.0% | |
| Gross profit | 46.6 | 25.0 | 13.5 | 17.9 | 24.9 | 54.7 | +119.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 7.5 | 9.0 | 10.8 | 12.9 | 14.3 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 37.7 | 16.4 | 15.2 | 21.8 | 24.2 | 53.2 | +119.9% | |
| Operating income | 8.9 | 8.6 | (5.6) | (3.9) | 0.7 | 1.5 | +110.5% | |
| Interest expense | 0.5 | 0.5 | 0.5 | 0.4 | 0.4 | 0.3 | −13.1% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.4 | 0.6 | 0.5 | −16.6% | |
| Other income / expense | (0.5) | (0.5) | (0.7) | (0.4) | 0.0 | (0.0) | −233.3% | |
| Pre-tax income | 8.4 | 8.1 | (6.3) | (4.3) | 0.7 | 1.5 | +98.1% | |
| Income tax | 1.3 | 1.6 | (0.8) | (0.8) | (0.0) | 0.9 | +5488.2% | |
| Net income | 7.0 | 6.5 | (5.5) | (3.5) | 0.8 | 0.6 | −26.0% | |
| 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) | 0.04 | 0.04 | (0.03) | (0.01) | 0.00 | 0.00 | −23.8% | |
| EPS, diluted (per share) | 0.04 | 0.04 | (0.03) | (0.01) | 0.00 | 0.00 | −34.8% | |
| EBITDA | 12.0 | 10.5 | (0.0) | (1.8) | 3.1 | 3.9 | +29.2% | |
| Depreciation & amortization | 2.1 | 1.8 | 1.8 | 2.1 | 1.9 | 2.1 | +10.6% | |
| Weighted average shares (shares) | 165,829,382 | 182,386,061 | 169,727,169 | 253,285,714 | 370,000,000 | 353,750,000 | −4.4% | |
| Weighted average diluted shares (shares) | 166,013,898 | 182,246,256 | 169,724,785 | 253,285,714 | 334,369,812 | 377,333,000 | +12.8% | |
| Gross margin | 100.0% | 47.6% | 41.1% | 37.2% | 44.8% | 96.2% | +51.5 pts | |
| Operating margin | 19.0% | 16.4% | −16.9% | −8.1% | 1.3% | 2.7% | +1.4 pts | |
| Net margin | 15.1% | 12.4% | −16.8% | −7.4% | 1.4% | 1.0% | −0.4 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
