| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0 | 0.0 | 5.3 | 0.0 | 4.7 | 0.0 | −100.0% | |
| Cost of revenue | 0.2 | 0.7 | 0.5 | 1.0 | 1.1 | 0.7 | −39.7% | |
| Gross profit | (0.2) | (0.7) | 4.7 | (1.0) | 3.6 | (0.7) | −118.8% | |
| Research & development | 6.4 | 9.5 | 11.6 | 12.9 | 14.7 | 12.0 | −18.1% | |
| Selling, general & administrative | 3.3 | 4.0 | 5.0 | 4.4 | 3.9 | — | — | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Operating expenses | 9.5 | 13.5 | 16.7 | 17.3 | 18.6 | 16.8 | −9.9% | |
| Operating income | (9.8) | (14.3) | (11.9) | (18.3) | (15.0) | (17.4) | −16.2% | |
| Interest expense | 1.7 | 2.9 | 1.2 | 1.1 | 1.7 | 2.0 | +14.1% | |
| Interest income | 0.0 | 0.0 | 0.3 | 0.4 | 0.3 | 0.3 | −10.7% | |
| Other income / expense | (7.1) | 7.0 | (2.4) | 9.2 | (0.3) | — | — | |
| Pre-tax income | (16.8) | (6.3) | (14.3) | (9.1) | (15.3) | (20.2) | −32.2% | |
| Income tax | (1.3) | (1.7) | (2.4) | (3.3) | (3.0) | (2.3) | +23.3% | |
| Net income | (15.5) | (2.1) | (11.9) | (5.9) | (12.3) | (17.9) | −45.9% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Other net income adjustments | 0.0 | 2.5 | 0.0 | 0.0 | 0.0 | — | — | |
| EPS, basic (per share) | (0.02) | (0.01) | (0.01) | (0.01) | (0.01) | (0.02) | −37.3% | |
| EPS, diluted (per share) | (0.02) | (0.01) | (0.01) | (0.01) | (0.01) | (0.02) | −37.3% | |
| EBITDA | (14.9) | (3.8) | (12.2) | (7.1) | (12.7) | (16.8) | −31.8% | |
| Depreciation & amortization | 0.2 | 0.7 | 0.9 | 1.0 | 0.9 | 0.7 | −23.5% | |
| Weighted average shares (shares) | 678,892,000 | 815,535,000 | 816,368,000 | 862,484,000 | 970,318,493 | 1,037,592,362 | +6.9% | |
| Weighted average diluted shares (shares) | 678,892,000 | 815,535,000 | 816,368,000 | 862,484,000 | 970,318,493 | 1,037,592,362 | +6.9% | |
| Gross margin | — | — | 90.0% | — | 76.3% | — | — | |
| Operating margin | — | — | −226.1% | — | −318.4% | — | — | |
| Net margin | — | — | −226.4% | — | −260.5% | — | — |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
