| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39.6 | 39.9 | 44.1 | 46.2 | 49.7 | 52.4 | +5.3% | |
| Cost of revenue | 4.3 | 4.7 | 11.1 | 11.0 | 12.5 | 14.8 | +19.2% | |
| Gross profit | 35.3 | 35.2 | 33.1 | 46.2 | 49.7 | 37.5 | −24.6% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 1.3 | 1.7 | 2.1 | 1.8 | 2.0 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 6.8 | 5.1 | 2.0 | 11.2 | 11.6 | 1.7 | −85.4% | |
| Operating income | 28.5 | 30.1 | 31.0 | 6.5 | 38.2 | 35.8 | −6.1% | |
| Interest expense | 4.3 | 4.8 | 5.7 | 7.6 | 6.6 | 7.3 | +10.5% | |
| Interest income | 0.1 | 4.5 | 0.0 | 0.1 | 0.1 | 0.1 | −9.4% | |
| Other income / expense | (4.8) | (4.8) | (97.0) | (8.0) | 4.3 | 12.5 | +190.7% | |
| Pre-tax income | 3.7 | 122.3 | (65.8) | (1.5) | 38.2 | 48.3 | +26.6% | |
| Income tax | (0.2) | (0.2) | (0.1) | 0.0 | 0.0 | 0.0 | — | |
| Net income | 3.7 | 122.3 | (65.8) | (1.5) | 38.2 | 48.3 | +26.6% | |
| 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) | 0.01 | 0.29 | (0.15) | (0.00) | 0.09 | 0.10 | +15.5% | |
| EPS, diluted (per share) | 0.01 | 0.29 | (0.15) | (0.00) | 0.09 | 0.10 | +15.5% | |
| EBITDA | 28.5 | 30.1 | 31.2 | 6.8 | 45.9 | 56.0 | +21.9% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.1 | 0.1 | 0.3 | 0.4 | +21.9% | |
| Weighted average shares (shares) | 420,053,000 | 428,702,000 | 440,850,000 | 440,850,000 | 440,850,000 | 460,528,000 | +4.5% | |
| Weighted average diluted shares (shares) | 420,053,000 | 428,702,000 | 440,850,000 | 440,850,000 | 440,850,000 | 461,102,000 | +4.6% | |
| Gross margin | 89.3% | 88.2% | 75.0% | 100.0% | 100.0% | 71.6% | −28.4 pts | |
| Operating margin | 72.1% | 75.4% | 70.3% | 14.2% | 76.7% | 68.4% | −8.3 pts | |
| Net margin | 9.5% | 306.6% | −149.1% | −3.2% | 76.7% | 92.3% | +15.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
