| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Net income | (3.9) | (56.7) | (159.6) | (6.0) | (330.9) | (24.8) | +92.5% | |
| Depreciation & amortization | 37.0 | 56.5 | 83.4 | 77.9 | 67.0 | 67.9 | +1.3% | |
| Stock-based compensation | 12.3 | 13.9 | 14.2 | 10.1 | 6.8 | 4.0 | −41.2% | |
| Change in working capital | 0.6 | (31.9) | (5.7) | (1.8) | 13.9 | 56.7 | +307.9% | |
| Operating cash flow | 60.9 | 49.1 | 64.1 | (10.7) | 57.1 | 102.7 | +79.9% | |
| Capital expenditure | (7.4) | (14.6) | (17.9) | (5.9) | (4.0) | (2.3) | +42.5% | |
| Acquisitions | (124.2) | (86.6) | (123.7) | (3.1) | (6.9) | (0.2) | +97.1% | |
| Investing cash flow | (130.7) | (106.6) | (139.8) | (13.3) | (12.3) | (5.2) | +57.7% | |
| Dividends paid | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (6.1) | — | |
| Share buybacks | 0.0 | 0.0 | 0.0 | 0.0 | (2.5) | 0.0 | +100.0% | |
| Debt issued / repaid | 45.6 | 232.1 | (0.9) | (0.2) | (0.2) | (0.2) | +0.0% | |
| Financing cash flow | 145.8 | 208.4 | (32.4) | (43.0) | (44.5) | (19.8) | +55.5% | |
| Free cash flow | 53.5 | 34.5 | 46.2 | (16.6) | 53.1 | 100.4 | +89.1% | |
| Net change in cash | 75.9 | 157.1 | (75.5) | (77.9) | 22.7 | 72.4 | +218.9% |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
