| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 90.7 | 114.0 | 104.6 | 89.3 | 90.6 | 104.8 | +15.7% | |
| Cost of revenue | 27.5 | 40.4 | 37.2 | 28.0 | 50.7 | 55.8 | +10.1% | |
| Gross profit | 63.2 | 73.6 | 67.3 | 61.3 | 39.9 | 49.0 | +22.7% | |
| Research & development | 22.0 | 46.2 | 67.9 | 67.9 | 11.8 | 13.5 | +14.6% | |
| Selling, general & administrative | 21.2 | 25.9 | 26.1 | 25.3 | 19.3 | — | — | |
| Selling & marketing | 7.3 | 12.3 | 12.0 | 11.6 | 0.0 | — | — | |
| Operating expenses | 43.2 | 72.1 | 93.9 | 88.3 | 31.2 | 35.6 | +14.2% | |
| Operating income | 19.9 | 1.5 | (26.6) | (27.0) | 8.7 | 13.4 | +53.2% | |
| Interest expense | 0.7 | 0.6 | 0.0 | 0.0 | 1.0 | 0.9 | −9.7% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.0 | 0.8 | 1.2 | +55.3% | |
| Other income / expense | (0.7) | (0.6) | 0.1 | (1.4) | 3.7 | — | — | |
| Pre-tax income | 19.2 | 0.9 | (26.5) | (28.4) | 12.4 | 15.3 | +23.5% | |
| Income tax | (2.4) | (8.7) | (5.6) | (7.0) | (4.0) | (11.9) | −200.9% | |
| Net income | 21.6 | 9.6 | (20.9) | (21.5) | 16.4 | 27.3 | +66.5% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| EPS, basic (per share) | 0.55 | 0.25 | (0.54) | (0.56) | 0.42 | 0.75 | +77.6% | |
| EPS, diluted (per share) | 0.53 | 0.24 | (0.54) | (0.56) | 0.41 | 0.70 | +70.7% | |
| EBITDA | 38.1 | 33.7 | 14.9 | 9.9 | 36.9 | 35.1 | −4.9% | |
| Depreciation & amortization | 18.2 | 32.2 | 41.4 | 36.9 | 23.4 | 21.7 | −7.4% | |
| Weighted average shares (shares) | 38,909,932 | 39,172,987 | 39,025,746 | 38,608,645 | 38,658,275 | 36,575,131 | −5.4% | |
| Weighted average diluted shares (shares) | 40,471,633 | 40,606,756 | 39,025,746 | 38,608,645 | 40,265,330 | 38,974,275 | −3.2% | |
| Gross margin | 69.6% | 64.6% | 64.4% | 68.7% | 44.0% | 46.7% | +2.7 pts | |
| Operating margin | 22.0% | 1.3% | −25.4% | −30.3% | 9.6% | 12.8% | +3.1 pts | |
| Net margin | 23.8% | 8.4% | −20.0% | −24.1% | 18.1% | 26.0% | +7.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
