| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 10.4 | 12.1 | 17.3 | 19.4 | 26.5 | 27.1 | +2.3% | |
| Cost of revenue | 7.7 | 9.0 | 11.3 | 8.7 | 5.1 | 13.1 | +158.5% | |
| Gross profit | 2.6 | 3.1 | 6.0 | 10.7 | 21.4 | 14.0 | −34.7% | |
| Research & development | 1.1 | 1.3 | 0.9 | 0.8 | 3.7 | 0.0 | −100.0% | |
| Selling, general & administrative | 11.2 | 12.8 | 15.2 | 12.6 | 16.7 | — | — | |
| Selling & marketing | 0.3 | 0.6 | 0.6 | 0.5 | 0.5 | — | — | |
| Operating expenses | 10.8 | 11.3 | 15.0 | 12.1 | 16.7 | 11.1 | −33.6% | |
| Operating income | (5.8) | (5.7) | (6.0) | (1.4) | 4.7 | 2.9 | −38.3% | |
| Interest expense | 0.5 | 0.6 | 1.2 | 1.9 | 1.8 | 0.4 | −75.5% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | −36.4% | |
| Other income / expense | (0.5) | (0.4) | (1.2) | (2.1) | (1.6) | — | — | |
| Pre-tax income | (6.3) | (6.1) | (7.3) | (3.5) | 3.1 | 2.5 | −17.4% | |
| Income tax | (1.0) | (1.2) | (1.2) | (0.2) | 0.7 | 1.8 | +168.0% | |
| Net income | (5.4) | (4.9) | (6.1) | (3.3) | 3.8 | 0.7 | −80.5% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| EPS, basic (per share) | (0.01) | (0.01) | (0.01) | (0.01) | 0.01 | 0.00 | −81.4% | |
| EPS, diluted (per share) | (0.01) | (0.01) | (0.01) | (0.01) | 0.01 | 0.00 | −81.0% | |
| EBITDA | (1.7) | (1.2) | (1.3) | 2.9 | 6.2 | 7.0 | +13.7% | |
| Depreciation & amortization | 4.0 | 4.3 | 4.8 | 4.5 | 1.4 | 4.6 | +222.0% | |
| Weighted average shares (shares) | 359,105,649 | 432,084,713 | 432,084,713 | 595,404,643 | 641,490,088 | 653,454,994 | +1.9% | |
| Weighted average diluted shares (shares) | 359,105,649 | 432,084,713 | 432,084,713 | 595,404,643 | 642,538,757 | 676,484,558 | +5.3% | |
| Gross margin | 25.6% | 25.4% | 34.9% | 55.2% | 80.9% | 51.6% | −29.2 pts | |
| Operating margin | −56.4% | −47.4% | −34.9% | −7.1% | 17.7% | 10.7% | −7.0 pts | |
| Net margin | −51.7% | −40.8% | −35.2% | −17.0% | 14.2% | 2.7% | −11.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
