| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 67.8 | 196.9 | 108.2 | 133.4 | 168.4 | 374.2 | +122.3% | |
| Cost of revenue | 4.4 | 8.0 | 10.9 | 8.3 | 6.8 | 9.6 | +40.7% | |
| Gross profit | 36.4 | 189.5 | 97.3 | 125.1 | 168.4 | 364.7 | +116.6% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 27.1 | 34.1 | 36.2 | 41.5 | 11.3 | 14.4 | +27.6% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.3 | 0.0 | 0.0 | — | |
| Operating expenses | 27.0 | 34.1 | 36.2 | 41.8 | 69.5 | 50.4 | −27.5% | |
| Operating income | 9.4 | 155.3 | (78.1) | 83.3 | 98.8 | 314.3 | +217.9% | |
| Interest expense | 5.3 | 5.3 | 6.8 | 6.8 | 6.8 | 7.2 | +6.1% | |
| Interest income | 0.0 | 5.3 | 0.3 | 1.2 | 0.7 | 42.1 | +5601.8% | |
| Other income / expense | (5.3) | (5.3) | (6.9) | (6.5) | (6.5) | (7.2) | −10.2% | |
| Pre-tax income | 4.1 | 150.0 | (85.0) | 76.8 | 98.8 | 307.1 | +210.6% | |
| Income tax | 1.2 | 1.2 | 1.4 | 1.6 | 1.9 | 2.4 | +26.5% | |
| Net income | 3.0 | 148.8 | (86.3) | 75.2 | 97.0 | 304.7 | +214.3% | |
| 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) | 0.03 | 1.23 | (0.71) | 0.58 | 0.74 | 2.30 | +210.8% | |
| EPS, diluted (per share) | 0.03 | 1.23 | (0.71) | 0.58 | 0.74 | 2.30 | +210.8% | |
| EBITDA | 10.7 | 157.2 | (76.2) | 86.1 | 101.2 | 317.1 | +213.4% | |
| Depreciation & amortization | 1.3 | 1.6 | 1.9 | 2.2 | 2.3 | 2.6 | +12.6% | |
| Weighted average shares (shares) | 118,040,000 | 121,337,844 | 121,337,844 | 129,785,835 | 130,615,834 | 132,754,000 | +1.6% | |
| Weighted average diluted shares (shares) | 118,192,860 | 121,339,880 | 121,337,844 | 129,811,509 | 130,678,884 | 132,754,000 | +1.6% | |
| Gross margin | 53.7% | 96.2% | 89.9% | 93.8% | 100.0% | 97.4% | −2.6 pts | |
| Operating margin | 13.9% | 78.9% | −72.2% | 62.5% | 58.7% | 84.0% | +25.3 pts | |
| Net margin | 4.4% | 75.6% | −79.8% | 56.4% | 57.6% | 81.4% | +23.8 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
