| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14.0 | 22.1 | 22.9 | 24.4 | 18.2 | 39.5 | +117.6% | |
| Cost of revenue | 1.6 | 2.0 | 2.3 | 2.4 | 2.3 | 2.1 | −9.4% | |
| Gross profit | (0.7) | 20.2 | 26.0 | (16.2) | 15.9 | 37.4 | +136.2% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.8 | 0.8 | 0.9 | 0.8 | 0.9 | 1.0 | +14.7% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 2.3 | 2.7 | 3.1 | 3.1 | 0.9 | 1.0 | +14.7% | |
| Operating income | (3.0) | 35.8 | 22.9 | (19.3) | 51.4 | 36.5 | −29.1% | |
| Interest expense | 0.1 | 0.1 | 0.2 | 1.1 | 1.3 | 1.3 | −0.4% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −68.8% | |
| Other income / expense | (0.4) | 1.0 | (3.3) | 0.6 | 0.3 | (1.8) | −744.0% | |
| Pre-tax income | (3.4) | 36.9 | 19.6 | (18.7) | 51.7 | 34.7 | −32.9% | |
| Income tax | 0.6 | 0.8 | 1.1 | 1.6 | 1.4 | 1.8 | +22.7% | |
| Net income | (4.0) | 36.1 | 18.5 | (20.3) | 50.3 | 32.9 | −34.5% | |
| 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) | 0.36 | 0.20 | (0.18) | 0.45 | 0.31 | −31.1% | |
| EPS, diluted (per share) | (0.04) | 0.36 | 0.20 | (0.18) | 0.45 | 0.31 | −31.1% | |
| EBITDA | 0.0 | 35.8 | 22.9 | (18.7) | 51.4 | 36.5 | −29.1% | |
| Depreciation & amortization | 3.0 | 0.0 | 0.0 | 19.3 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 92,774,379 | 99,136,000 | 92,774,379 | 114,418,153 | 112,827,903 | 106,817,068 | −5.3% | |
| Weighted average diluted shares (shares) | 92,774,379 | 99,137,363 | 92,774,379 | 114,418,153 | 112,827,903 | 106,817,068 | −5.3% | |
| Gross margin | −5.0% | 91.2% | 113.4% | −66.4% | 87.2% | 94.7% | +7.4 pts | |
| Operating margin | −21.3% | 162.1% | 100.0% | −79.1% | 283.0% | 92.2% | −190.8 pts | |
| Net margin | −28.8% | 163.2% | 80.8% | −83.1% | 276.7% | 83.3% | −193.4 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
