| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 96.6 | 20.2 | (8.0) | 93.1 | 12.2 | 30.9 | +153.0% | |
| Cost of revenue | (2.8) | (2.8) | 0.0 | 0.0 | 0.0 | 8.3 | — | |
| Gross profit | 99.4 | 23.0 | (8.0) | 93.1 | 12.2 | 22.6 | +85.0% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 1.1 | 1.4 | 1.5 | 1.7 | 1.9 | 0.0 | −100.0% | |
| Selling & marketing | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | −100.0% | |
| Operating expenses | 3.8 | 4.2 | 4.4 | 1.7 | 1.9 | (106.7) | −5618.1% | |
| Operating income | 95.6 | 18.7 | (12.4) | 91.4 | 10.3 | 129.3 | +1158.3% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | — | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 17.2 | — | |
| Other income / expense | (0.2) | 0.1 | 0.3 | (0.5) | (0.1) | 1.2 | +928.1% | |
| Pre-tax income | 95.4 | 18.8 | (12.1) | 91.4 | 10.3 | 130.5 | +1170.1% | |
| Income tax | (0.2) | 0.1 | 0.3 | 0.0 | 0.0 | 0.0 | — | |
| Net income | 95.4 | 18.8 | (12.1) | 91.4 | 10.3 | 130.5 | +1170.1% | |
| 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) | 0.80 | 0.16 | (0.10) | 0.76 | 0.09 | 0.90 | +951.4% | |
| EPS, diluted (per share) | 0.80 | 0.16 | (0.10) | 0.76 | 0.09 | 0.90 | +951.4% | |
| EBITDA | 95.6 | 18.7 | 0.0 | 91.9 | 10.3 | 130.7 | +1171.8% | |
| Depreciation & amortization | 0.0 | 0.0 | 12.4 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 119,888,190 | 119,821,656 | 119,776,380 | 120,000,000 | 120,000,705 | 145,146,639 | +21.0% | |
| Weighted average diluted shares (shares) | 120,000,000 | 120,000,000 | 119,776,380 | 120,000,000 | 120,000,000 | 145,146,639 | +21.0% | |
| Gross margin | 102.9% | 113.8% | 100.0% | 100.0% | 100.0% | 73.1% | −26.9 pts | |
| Operating margin | 99.0% | 92.8% | 154.2% | 98.2% | 84.2% | 418.6% | +334.5 pts | |
| Net margin | 98.8% | 93.2% | 150.1% | 98.2% | 84.2% | 422.6% | +338.4 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
