| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12.5 | 350.9 | 45.5 | (47.8) | 44.4 | 160.2 | +260.8% | |
| Cost of revenue | 2.1 | 1.4 | 0.8 | 11.0 | 12.7 | 12.2 | −3.9% | |
| Gross profit | 11.6 | 349.5 | 44.7 | (47.8) | 31.7 | 148.0 | +366.9% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 4.0 | 5.7 | 6.3 | 6.0 | 7.3 | 6.7 | −8.2% | |
| Selling & marketing | 0.7 | 1.1 | 0.6 | 0.6 | 4.9 | 0.0 | −100.0% | |
| Operating expenses | 15.5 | 24.5 | 23.9 | (8.6) | 31.5 | 26.4 | −16.2% | |
| Operating income | 272.6 | 325.0 | (283.7) | (39.2) | 0.2 | 121.6 | +60700.0% | |
| Interest expense | 2.1 | 1.4 | 7.1 | 11.0 | 12.7 | 12.2 | −3.9% | |
| Interest income | 0.2 | 0.2 | 0.0 | 0.6 | 2.7 | 2.1 | −22.2% | |
| Other income / expense | (5.2) | 13.9 | 37.0 | 0.5 | (9.8) | 0.0 | +100.0% | |
| Pre-tax income | 267.4 | 325.0 | (246.7) | (49.8) | 0.2 | 121.6 | +60700.0% | |
| Income tax | 0.0 | 24.3 | (3.3) | (9.2) | 1.0 | 1.3 | +30.0% | |
| Net income | 267.4 | 300.7 | (243.4) | (40.6) | (0.8) | 120.3 | +15137.5% | |
| 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) | 2.08 | 2.00 | (1.59) | (0.21) | (0.00) | 0.69 | +16146.5% | |
| EPS, diluted (per share) | 2.06 | 1.98 | (1.59) | (0.21) | (0.00) | 0.69 | +16146.5% | |
| EBITDA | 273.3 | 325.8 | (283.0) | (49.9) | 0.5 | 122.1 | +24320.0% | |
| Depreciation & amortization | 0.7 | 0.8 | 0.7 | 0.4 | 0.3 | 0.5 | +66.7% | |
| Weighted average shares (shares) | 128,860,000 | 150,100,000 | 153,000,000 | 189,000,000 | 184,200,000 | 174,100,000 | −5.5% | |
| Weighted average diluted shares (shares) | 129,741,000 | 151,900,000 | 153,000,000 | 189,400,000 | 184,800,000 | 175,300,000 | −5.1% | |
| Gross margin | 92.7% | 99.6% | 98.2% | 100.0% | 71.4% | 92.4% | +21.0 pts | |
| Operating margin | 2,179.6% | 92.6% | −623.5% | 82.0% | 0.5% | 75.9% | +75.5 pts | |
| Net margin | 2,138.0% | 85.7% | −534.9% | 84.9% | −1.8% | 75.1% | +76.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
