| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.3 | 4.3 | 5.6 | 5.2 | 16.5 | 26.0 | +57.7% | |
| Cost of revenue | 21.8 | 19.0 | 39.9 | 88.2 | 33.2 | 49.7 | +49.9% | |
| Gross profit | (18.5) | (14.7) | (34.3) | (83.0) | (16.7) | (23.7) | −42.1% | |
| Research & development | 2.3 | 3.5 | 1.4 | 1.1 | 2.6 | 0.0 | −100.0% | |
| Selling, general & administrative | 8.4 | 8.8 | 8.8 | 16.8 | 18.3 | 2.9 | −83.9% | |
| Selling & marketing | 1.4 | 1.4 | 1.4 | 10.5 | 13.8 | 15.0 | +8.2% | |
| Operating expenses | 4.3 | 9.9 | 21.3 | 17.8 | 21.3 | 30.9 | +44.5% | |
| Operating income | (22.9) | (26.7) | (44.7) | (100.8) | (38.0) | (54.5) | −43.5% | |
| Interest expense | 0.2 | 0.5 | 0.5 | 0.5 | 0.6 | 1.0 | +53.2% | |
| Interest income | 0.1 | 0.1 | 0.3 | 4.7 | 12.2 | 10.2 | −16.8% | |
| Other income / expense | (0.1) | (1.0) | (1.9) | 2.5 | 11.0 | 9.2 | −16.2% | |
| Pre-tax income | (29.5) | (27.6) | (46.7) | (101.2) | (27.1) | (45.4) | −67.7% | |
| Income tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.2 | 0.2 | −9.0% | |
| Net income | (29.6) | (27.7) | (46.7) | (101.2) | (27.2) | (45.5) | −67.2% | |
| 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) | (0.07) | (0.05) | (0.08) | (0.16) | (0.04) | (0.07) | −67.8% | |
| EPS, diluted (per share) | (0.07) | (0.05) | (0.08) | (0.16) | (0.04) | (0.07) | −67.8% | |
| EBITDA | (26.7) | (24.9) | (42.9) | (96.0) | (31.7) | (37.0) | −16.8% | |
| Depreciation & amortization | 2.6 | 1.8 | 3.2 | 3.1 | 4.8 | 7.4 | +54.1% | |
| Weighted average shares (shares) | 398,387,884 | 507,262,743 | 576,699,822 | 614,683,780 | 616,743,434 | 617,273,073 | +0.1% | |
| Weighted average diluted shares (shares) | 398,387,884 | 507,262,743 | 576,699,822 | 614,683,780 | 616,743,434 | 617,273,073 | +0.1% | |
| Gross margin | −563.4% | −344.8% | −609.9% | −1,587.6% | −100.9% | −91.0% | +10.0 pts | |
| Operating margin | −694.7% | −623.6% | −794.4% | −1,928.2% | −230.2% | −209.5% | +20.8 pts | |
| Net margin | −898.2% | −647.9% | −829.8% | −1,935.4% | −164.9% | −174.8% | −9.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
