| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | 185.4 | 448.2 | (341.5) | (171.3) | (206.7) | 66.8 | +132.3% | |
| Depreciation & amortization | 1.4 | 1.6 | 0.6 | 0.6 | 0.6 | 0.5 | −16.7% | |
| Stock-based compensation | 19.2 | 19.8 | 14.9 | (2.1) | (6.0) | 0.0 | +100.0% | |
| Change in working capital | (5.9) | 30.1 | (3.5) | 0.3 | (8.0) | (3.9) | +51.2% | |
| Operating cash flow | (27.2) | 10.5 | (23.5) | (17.9) | (25.1) | (14.5) | +42.2% | |
| Capital expenditure | (173.1) | (0.2) | (0.3) | 0.0 | 0.0 | 14.5 | — | |
| Acquisitions | 123.5 | (7.1) | (60.8) | (26.3) | 121.4 | (89.2) | −173.5% | |
| Investing cash flow | 49.3 | 26.3 | (2.3) | (4.4) | 82.9 | (32.1) | −138.7% | |
| Dividends paid | 0.0 | (15.0) | (12.3) | (13.0) | 0.0 | 0.0 | — | |
| Share buybacks | 0.0 | (27.2) | (8.0) | (0.1) | (29.6) | (45.7) | −54.4% | |
| Debt issued / repaid | (15.3) | (16.1) | 29.1 | 53.3 | (6.5) | (6.3) | +3.1% | |
| Financing cash flow | (16.4) | (58.3) | 8.8 | 34.7 | (42.9) | (52.5) | −22.4% | |
| Free cash flow | (200.3) | 10.3 | (23.8) | (17.9) | (25.1) | (19.6) | +21.9% | |
| Net change in cash | 5.7 | (21.9) | (17.0) | 12.2 | 14.7 | (99.1) | −774.1% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
