| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49.9 | 169.1 | (67.7) | 54.7 | 54.0 | 51.1 | −5.5% | |
| Cost of revenue | 9.9 | 11.3 | 15.7 | 16.8 | 16.6 | 15.7 | −5.5% | |
| Gross profit | 40.0 | 157.8 | (83.5) | 37.9 | 37.7 | 35.4 | −6.1% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 15.3 | 16.9 | 21.5 | 6.6 | 23.4 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | (17.4) | 0.0 | 0.0 | — | |
| Operating expenses | 16.1 | 22.1 | 21.8 | 24.2 | 23.7 | 7.3 | −69.1% | |
| Operating income | 33.8 | 154.3 | (80.8) | 30.7 | 37.3 | 28.0 | −24.9% | |
| Interest expense | 7.2 | 8.3 | 8.8 | 9.3 | 8.3 | 8.5 | +3.2% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.6 | 0.8 | 0.7 | −9.6% | |
| Other income / expense | (8.0) | (12.5) | (89.5) | (35.5) | 6.7 | (2.2) | −132.4% | |
| Pre-tax income | 33.8 | 147.0 | (89.5) | (4.8) | 37.3 | 25.9 | −30.7% | |
| Income tax | 5.7 | 7.3 | 8.8 | 0.0 | 0.0 | 0.0 | — | |
| Net income | 33.8 | 147.0 | (98.3) | (4.8) | 37.3 | 25.9 | −30.7% | |
| 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) | 0.06 | 0.27 | (0.18) | (0.01) | 0.07 | 0.05 | −27.4% | |
| EPS, diluted (per share) | 0.06 | 0.27 | (0.18) | (0.01) | 0.07 | 0.05 | −27.2% | |
| EBITDA | 28.1 | 155.7 | (80.3) | 30.8 | 30.7 | 34.6 | +12.6% | |
| Depreciation & amortization | 0.0 | 0.2 | 0.2 | 0.1 | 0.1 | 0.2 | +63.0% | |
| Weighted average shares (shares) | 545,590,722 | 545,904,197 | 545,716,226 | 545,437,264 | 544,037,179 | 519,279,302 | −4.6% | |
| Weighted average diluted shares (shares) | 546,793,381 | 547,295,589 | 546,411,922 | 547,092,154 | 545,502,180 | 519,279,302 | −4.8% | |
| Gross margin | 80.2% | 93.3% | 123.2% | 69.3% | 69.7% | 69.3% | −0.5 pts | |
| Operating margin | 67.7% | 91.2% | 119.3% | 56.1% | 69.1% | 54.9% | −14.2 pts | |
| Net margin | 67.7% | 86.9% | 145.1% | −8.8% | 69.1% | 50.6% | −18.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
