| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 455.5 | 323.9 | 322.2 | 359.7 | 360.1 | 410.9 | +14.1% | |
| Cost of revenue | 63.5 | 57.1 | 52.4 | 145.4 | 133.7 | 53.5 | −60.0% | |
| Gross profit | 392.0 | 266.8 | 269.8 | 214.3 | 226.4 | 357.4 | +57.9% | |
| Research & development | 0.8 | 0.2 | 0.9 | 0.9 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 37.6 | 35.9 | 46.9 | 49.5 | 46.6 | 0.0 | −100.0% | |
| Selling & marketing | 30.4 | 27.4 | 38.3 | 35.6 | 33.5 | 0.0 | −100.0% | |
| Operating expenses | 166.4 | 165.5 | 208.0 | 148.7 | 136.9 | 246.3 | +80.0% | |
| Operating income | 225.6 | 101.3 | 61.8 | 65.6 | 89.6 | 111.1 | +24.1% | |
| Interest expense | 1.8 | 9.8 | 9.7 | 2.0 | 1.9 | 10.1 | +429.1% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.8 | — | |
| Other income / expense | (1.8) | (2.2) | (2.3) | (2.2) | (5.1) | (9.8) | −91.8% | |
| Pre-tax income | 224.0 | 91.5 | 52.2 | 63.3 | 84.5 | 101.3 | +20.0% | |
| Income tax | 45.9 | 20.0 | 10.7 | 16.4 | 22.3 | 27.6 | +23.9% | |
| Net income | 178.1 | 71.5 | 41.4 | 46.9 | 62.2 | 74.4 | +19.6% | |
| 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) | 0.61 | 0.25 | 0.15 | 0.17 | 0.23 | 0.28 | +21.7% | |
| EPS, diluted (per share) | 0.61 | 0.24 | 0.15 | 0.17 | 0.23 | 0.28 | +21.7% | |
| EBITDA | 236.8 | 113.7 | 77.5 | 92.7 | 100.4 | 125.4 | +24.9% | |
| Depreciation & amortization | 11.2 | 12.4 | 15.6 | 27.4 | 14.0 | 14.0 | −0.4% | |
| Weighted average shares (shares) | 289,677,000 | 290,815,000 | 282,295,000 | 279,962,000 | 275,233,000 | 270,255,000 | −1.8% | |
| Weighted average diluted shares (shares) | 291,162,000 | 291,837,000 | 283,893,000 | 279,962,000 | 275,233,000 | 270,255,000 | −1.8% | |
| Gross margin | 86.1% | 82.4% | 83.8% | 59.6% | 62.9% | 87.0% | +24.1 pts | |
| Operating margin | 49.5% | 31.3% | 19.2% | 18.2% | 24.9% | 27.0% | +2.2 pts | |
| Net margin | 39.1% | 22.1% | 12.9% | 13.0% | 17.3% | 18.1% | +0.8 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
