| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (61.8) | 217.6 | 48.9 | (19.6) | 89.7 | 173.5 | +93.4% | |
| Cost of revenue | 2.1 | 2.7 | 0.0 | 0.0 | 5.4 | 0.0 | −100.0% | |
| Gross profit | (61.8) | 189.5 | 48.9 | (19.6) | 84.3 | 173.5 | +105.8% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 3.1 | 2.1 | 4.1 | 4.4 | 2.3 | 0.0 | −100.0% | |
| Selling & marketing | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.0 | −100.0% | |
| Operating expenses | 3.1 | 3.6 | 4.1 | 4.4 | 4.4 | 4.7 | +6.4% | |
| Operating income | (64.8) | 185.9 | 44.7 | (23.9) | 110.4 | 168.8 | +52.9% | |
| Interest expense | 3.4 | 3.2 | 3.9 | 5.5 | 5.6 | 5.9 | +5.3% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.3 | 50.2 | +14809.5% | |
| Other income / expense | (3.4) | (3.3) | (3.9) | (5.6) | (5.6) | (6.0) | −7.0% | |
| Pre-tax income | (68.2) | 182.7 | 40.8 | (29.5) | 104.8 | 162.8 | +55.3% | |
| Income tax | 0.1 | 0.4 | 0.6 | 0.8 | 0.5 | 0.4 | −28.7% | |
| Net income | (68.3) | 182.2 | 40.2 | (30.2) | 104.3 | 162.4 | +55.8% | |
| 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) | (0.58) | 1.47 | 0.30 | (0.21) | 0.70 | 1.10 | +57.1% | |
| EPS, diluted (per share) | (0.58) | 1.47 | 0.30 | (0.21) | 0.70 | 1.10 | +57.1% | |
| EBITDA | (64.8) | 185.9 | 44.7 | (24.0) | 110.4 | 168.7 | +52.8% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 118,050,092 | 124,156,079 | 134,599,189 | 145,769,981 | 148,325,100 | 148,198,321 | −0.1% | |
| Weighted average diluted shares (shares) | 118,050,092 | 124,156,079 | 134,599,189 | 145,769,940 | 148,324,887 | 148,198,321 | −0.1% | |
| Gross margin | 100.0% | 87.1% | 100.0% | 100.0% | 94.0% | 100.0% | +6.0 pts | |
| Operating margin | 105.0% | 85.4% | 91.6% | 122.3% | 123.1% | 97.3% | −25.8 pts | |
| Net margin | 110.6% | 83.7% | 82.3% | 154.7% | 116.2% | 93.6% | −22.6 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
