| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (18.7) | 42.6 | 28.9 | 22.1 | 45.0 | 115.0 | +155.6% | |
| Cost of revenue | 1.9 | 1.7 | 1.9 | 2.2 | 2.0 | 2.0 | −3.4% | |
| Gross profit | (43.0) | 87.4 | (30.7) | 33.2 | 43.1 | 113.0 | +162.3% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.7 | 0.7 | 0.7 | 0.9 | 0.8 | 0.8 | −4.4% | |
| Selling & marketing | 0.0 | 0.1 | 0.1 | 0.3 | 0.2 | 0.1 | −31.1% | |
| Operating expenses | 2.6 | 0.7 | 0.7 | 2.8 | 0.8 | 0.8 | −5.7% | |
| Operating income | (45.6) | 84.5 | (33.7) | 30.4 | 35.4 | 112.2 | +216.6% | |
| Interest expense | 1.8 | 1.7 | 1.9 | 2.2 | 2.0 | 1.5 | −27.4% | |
| Interest income | 0.0 | 0.0 | 0.3 | 0.7 | 0.6 | 20.2 | +3097.1% | |
| Other income / expense | (1.8) | (1.7) | (1.6) | (2.2) | (2.0) | (1.5) | +28.0% | |
| Pre-tax income | (47.4) | 82.9 | (35.3) | 28.2 | 33.4 | 110.8 | +231.6% | |
| Income tax | (0.0) | 0.1 | (0.0) | 0.0 | (0.0) | 0.1 | +1085.7% | |
| Net income | (47.4) | 82.8 | (35.2) | 28.2 | 33.4 | 110.7 | +231.5% | |
| 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 | +100.0% | |
| EPS, basic (per share) | (0.82) | 1.41 | (0.61) | 0.48 | 0.59 | 2.01 | +240.7% | |
| EPS, diluted (per share) | (0.82) | 1.41 | (0.61) | 0.48 | 0.59 | 2.01 | +240.7% | |
| EBITDA | 0.0 | 84.5 | (35.3) | 30.4 | 35.5 | 112.2 | +216.5% | |
| Depreciation & amortization | 45.6 | 0.0 | 33.7 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 58,034,746 | 58,822,971 | 58,034,746 | 59,232,911 | 57,065,999 | 55,181,670 | −3.3% | |
| Weighted average diluted shares (shares) | 58,034,746 | 58,822,971 | 58,034,746 | 59,232,911 | 57,065,999 | 55,181,670 | −3.3% | |
| Gross margin | 229.6% | 205.4% | −106.4% | 150.2% | 95.8% | 98.3% | +2.5 pts | |
| Operating margin | 243.4% | 198.6% | −116.6% | 137.4% | 78.8% | 97.6% | +18.8 pts | |
| Net margin | 253.0% | 194.4% | −122.1% | 127.5% | 74.2% | 96.3% | +22.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
