| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 122.1 | 36.3 | 42.4 | 79.5 | 20.0 | 101.9 | +409.0% | |
| Cost of revenue | (4.6) | (4.4) | (5.1) | 3.2 | 1.1 | 1.2 | +2.5% | |
| Gross profit | 126.8 | 40.7 | 47.5 | 76.4 | 18.9 | 100.7 | +433.6% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | 0.8 | +7.6% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | +7.1% | |
| Operating expenses | 0.6 | 0.6 | 0.6 | 0.7 | 0.8 | 0.8 | +8.2% | |
| Operating income | 123.2 | 36.7 | 44.7 | 76.5 | 18.1 | 99.9 | +451.8% | |
| Interest expense | 1.3 | 1.1 | 1.2 | 1.1 | 1.1 | 1.2 | +2.5% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.5 | 0.5 | 0.3 | −46.4% | |
| Other income / expense | (1.7) | (1.0) | (2.9) | (0.8) | 0.8 | 0.0 | −100.0% | |
| Pre-tax income | 121.5 | 35.7 | 41.8 | 75.7 | 18.1 | 99.9 | +451.8% | |
| Income tax | (0.6) | 1.6 | 1.2 | 1.7 | 3.1 | 2.0 | −35.2% | |
| Net income | 122.1 | 34.1 | 40.6 | 74.0 | 15.0 | 97.9 | +551.8% | |
| 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) | 1.09 | 0.08 | 0.09 | 0.17 | 0.04 | 0.23 | +553.4% | |
| EPS, diluted (per share) | 1.09 | 0.08 | 0.09 | 0.17 | 0.04 | 0.23 | +553.4% | |
| EBITDA | 123.2 | 36.7 | 44.7 | 76.5 | 18.1 | 99.9 | +451.8% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 162,961,087 | 438,868,316 | 435,967,427 | 431,452,567 | 426,040,273 | 421,928,243 | −1.0% | |
| Weighted average diluted shares (shares) | 162,961,087 | 438,868,316 | 435,967,427 | 431,452,567 | 426,040,273 | 421,928,243 | −1.0% | |
| Gross margin | 103.8% | 112.0% | 112.0% | 96.0% | 94.3% | 98.9% | +4.6 pts | |
| Operating margin | 100.9% | 101.0% | 105.4% | 96.2% | 90.4% | 98.0% | +7.6 pts | |
| Net margin | 100.0% | 93.7% | 95.7% | 93.0% | 75.0% | 96.1% | +21.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
