| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (53.5) | 119.1 | 15.8 | 46.3 | 55.3 | 51.6 | −6.7% | |
| Cost of revenue | 1.8 | 0.2 | 0.3 | 3.1 | 3.6 | 3.4 | −6.8% | |
| Gross profit | (55.3) | 112.1 | 13.8 | 43.2 | 51.7 | 48.3 | −6.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.8 | 0.8 | 0.9 | 1.0 | 0.9 | 0.0 | −100.0% | |
| Selling & marketing | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.0 | −100.0% | |
| Operating expenses | 1.1 | 0.8 | 0.9 | 1.1 | 1.2 | (27.3) | −2299.9% | |
| Operating income | (54.5) | 109.7 | 13.4 | 44.7 | 18.4 | 48.4 | +162.2% | |
| Interest expense | 0.4 | 0.2 | 0.3 | 1.8 | 2.1 | 0.0 | −100.0% | |
| Interest income | 0.2 | 0.0 | 0.0 | 0.9 | 1.6 | 19.4 | +1093.5% | |
| Other income / expense | 0.0 | (2.0) | 2.3 | (0.9) | (2.4) | (3.5) | −48.5% | |
| Pre-tax income | (54.5) | 107.7 | 15.7 | 43.8 | 16.1 | 44.9 | +178.9% | |
| Income tax | 0.7 | 4.2 | 2.2 | 4.1 | 4.4 | 1.5 | −66.5% | |
| Net income | (55.3) | 103.6 | 13.5 | 39.6 | 11.7 | 43.4 | +271.9% | |
| 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) | (0.74) | 1.41 | 0.19 | 0.55 | 0.16 | 0.63 | +293.7% | |
| EPS, diluted (per share) | (0.74) | 1.41 | 0.19 | 0.55 | 0.16 | 0.62 | +287.5% | |
| EBITDA | (0.0) | 109.7 | 13.4 | 44.7 | 16.1 | 48.4 | +200.8% | |
| Depreciation & amortization | 52.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 74,348,836 | 73,297,971 | 73,039,011 | 71,912,335 | 71,551,097 | 69,010,726 | −3.6% | |
| Weighted average diluted shares (shares) | 74,348,836 | 73,297,971 | 73,039,011 | 71,912,335 | 71,551,097 | 70,197,994 | −1.9% | |
| Gross margin | 103.4% | 94.1% | 87.2% | 93.4% | 93.5% | 93.5% | +0.0 pts | |
| Operating margin | 102.0% | 92.1% | 84.6% | 96.5% | 33.3% | 93.7% | +60.3 pts | |
| Net margin | 103.3% | 86.9% | 85.3% | 85.7% | 21.1% | 84.0% | +62.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
