| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.0 | 16.7 | 20.1 | 33.3 | 66.7 | 63.3 | −5.2% | |
| Cost of revenue | 5.1 | 5.1 | 6.3 | 7.5 | 14.8 | 23.2 | +57.2% | |
| Gross profit | 7.9 | 11.6 | 13.9 | 25.9 | 52.0 | 40.1 | −22.9% | |
| Research & development | 1.3 | 2.3 | 2.1 | 3.6 | 5.2 | 0.0 | −100.0% | |
| Selling, general & administrative | 2.4 | 9.9 | 12.5 | 24.3 | 37.5 | 8.4 | −77.5% | |
| Selling & marketing | 0.6 | 0.5 | 0.5 | 1.7 | 1.3 | 1.4 | +2.4% | |
| Operating expenses | 10.7 | 12.3 | 14.8 | 28.1 | 42.8 | 36.1 | −15.8% | |
| Operating income | (1.6) | (0.7) | (0.9) | (2.3) | 9.2 | 4.0 | −56.0% | |
| Interest expense | 0.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.3 | 0.7 | 0.7 | +2.3% | |
| Other income / expense | (0.3) | 0.0 | 0.1 | 0.3 | 0.7 | 0.3 | −51.4% | |
| Pre-tax income | (1.9) | (0.7) | (0.8) | (2.0) | 9.9 | 4.4 | −55.7% | |
| Income tax | (0.5) | (0.4) | (0.1) | (1.8) | 1.8 | 1.8 | −3.4% | |
| Net income | (1.5) | (0.3) | (0.7) | (0.2) | 8.0 | 2.6 | −67.5% | |
| 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 | — | |
| EPS, basic (per share) | (0.04) | (0.01) | (0.02) | (0.00) | 0.22 | 0.07 | −67.4% | |
| EPS, diluted (per share) | (0.04) | (0.01) | (0.02) | (0.00) | 0.21 | 0.07 | −67.8% | |
| EBITDA | (0.1) | 1.7 | 1.3 | 1.5 | 14.5 | 10.2 | −29.6% | |
| Depreciation & amortization | 1.5 | 2.4 | 2.2 | 3.8 | 5.4 | 6.2 | +15.3% | |
| Weighted average shares (shares) | 33,055,776 | 33,055,776 | 33,055,776 | 34,773,662 | 36,574,695 | 36,350,335 | −0.6% | |
| Weighted average diluted shares (shares) | 33,055,776 | 33,055,776 | 33,055,776 | 34,768,325 | 38,995,084 | 38,556,835 | −1.1% | |
| Gross margin | 60.9% | 69.4% | 68.9% | 77.6% | 77.9% | 63.3% | −14.6 pts | |
| Operating margin | −12.5% | −4.4% | −4.5% | −6.8% | 13.7% | 6.4% | −7.4 pts | |
| Net margin | −11.4% | −1.9% | −3.6% | −0.5% | 12.0% | 4.1% | −7.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
