| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (136.8) | 201.3 | (105.1) | 143.8 | 220.2 | 155.8 | −29.3% | |
| Cost of revenue | 11.1 | 11.8 | 11.0 | 10.8 | 9.1 | 7.9 | −12.7% | |
| Gross profit | (147.9) | 189.5 | (116.1) | 133.0 | 112.1 | 147.9 | +31.9% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 3.8 | 3.8 | 3.8 | 3.8 | 3.6 | 3.1 | −14.0% | |
| Selling & marketing | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | +1.8% | |
| Operating expenses | 3.9 | 3.9 | 11.8 | 3.9 | 3.7 | 159.9 | +4244.6% | |
| Operating income | (140.7) | 197.5 | (116.9) | 132.2 | 108.4 | (12.1) | −111.1% | |
| Interest expense | 0.6 | 0.4 | 0.6 | 1.9 | 2.1 | 1.7 | −19.7% | |
| Interest income | 0.0 | 46.1 | 0.0 | 0.2 | 0.4 | 0.3 | −21.9% | |
| Other income / expense | (0.7) | (0.4) | (0.7) | (2.1) | (2.4) | (1.8) | +24.0% | |
| Pre-tax income | (140.7) | 197.5 | (117.6) | 130.0 | 108.4 | (13.9) | −112.8% | |
| Income tax | 0.7 | 0.8 | 1.2 | 1.2 | 0.2 | (0.0) | −104.4% | |
| Net income | (141.4) | 196.6 | (118.7) | 128.9 | 108.2 | (13.9) | −112.8% | |
| 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) | (0.67) | 0.88 | (0.56) | 0.61 | 0.58 | (0.09) | −116.2% | |
| EPS, diluted (per share) | (0.67) | 0.88 | (0.56) | 0.61 | 0.58 | (0.09) | −116.2% | |
| EBITDA | 0.0 | 197.9 | (117.6) | 132.2 | 119.6 | (12.1) | −110.1% | |
| Depreciation & amortization | 140.0 | 0.0 | 116.9 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 210,795,674 | 223,371,358 | 210,795,674 | 209,802,492 | 187,520,280 | 148,064,259 | −21.0% | |
| Weighted average diluted shares (shares) | 210,795,674 | 223,371,358 | 210,795,674 | 209,802,492 | 187,520,280 | 148,064,259 | −21.0% | |
| Gross margin | 108.1% | 94.1% | 110.5% | 92.5% | 50.9% | 94.9% | +44.0 pts | |
| Operating margin | 102.8% | 98.1% | 111.2% | 91.9% | 49.2% | −7.7% | −57.0 pts | |
| Net margin | 103.4% | 97.7% | 113.0% | 89.6% | 49.1% | −8.9% | −58.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
