| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11.6 | 2.8 | 4.0 | 6.1 | 8.4 | 11.0 | +30.4% | |
| Cost of revenue | 8.2 | 8.1 | 2.6 | 2.5 | 5.3 | 5.8 | +9.7% | |
| Gross profit | 3.4 | (5.2) | 1.4 | 3.7 | 3.1 | 5.2 | +65.5% | |
| Research & development | 0.5 | 0.2 | 0.0 | 0.0 | 0.0 | — | — | |
| Selling, general & administrative | 8.4 | 6.7 | 5.2 | 5.1 | 7.7 | — | — | |
| Selling & marketing | 0.9 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Operating expenses | 8.9 | 6.9 | 5.2 | 5.1 | 7.2 | 8.0 | +12.4% | |
| Operating income | (5.5) | (12.1) | (3.8) | (1.4) | (4.0) | (2.9) | +28.9% | |
| Interest expense | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | −40.0% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.0 | 0.1 | 0.0 | −62.0% | |
| Other income / expense | (0.2) | (0.1) | 0.0 | (0.0) | 0.2 | — | — | |
| Pre-tax income | (7.0) | (21.7) | (3.6) | (1.4) | (3.8) | (2.0) | +46.9% | |
| Income tax | 0.0 | (0.3) | (0.1) | (0.1) | (0.4) | 0.1 | +127.2% | |
| Net income | (7.0) | (21.3) | (3.5) | (1.3) | (3.4) | (2.1) | +37.7% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | — | |
| EPS, basic (per share) | (0.07) | (0.07) | (0.01) | (0.00) | (0.01) | (0.01) | +45.2% | |
| EPS, diluted (per share) | (0.07) | (0.07) | (0.01) | (0.00) | (0.01) | (0.01) | +45.2% | |
| EBITDA | (6.1) | (20.0) | (2.8) | (0.9) | (3.1) | (2.1) | +31.7% | |
| Depreciation & amortization | 0.7 | 1.6 | 0.7 | 0.4 | 0.6 | 0.7 | +20.1% | |
| Weighted average shares (shares) | 95,984,378 | 291,622,638 | 304,033,363 | 304,732,264 | 366,657,539 | 414,195,444 | +13.0% | |
| Weighted average diluted shares (shares) | 95,984,378 | 291,622,638 | 305,820,420 | 304,732,264 | 366,657,539 | 414,195,444 | +13.0% | |
| Gross margin | 29.2% | −184.4% | 34.7% | 60.0% | 37.1% | 47.1% | +10.0 pts | |
| Operating margin | −47.5% | −427.0% | −95.1% | −22.4% | −47.8% | −26.0% | +21.7 pts | |
| Net margin | −60.0% | −750.0% | −85.8% | −20.7% | −40.5% | −19.4% | +21.2 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
