| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (48.0) | 56.7 | (10.8) | 6.2 | 22.4 | 16.5 | −26.3% | |
| Cost of revenue | 1.1 | 1.2 | 1.1 | 1.3 | 1.5 | 0.9 | −38.0% | |
| Gross profit | (49.1) | 56.7 | (11.9) | 6.2 | 10.7 | 15.6 | +45.9% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.5 | 0.4 | 0.6 | 1.5 | 0.5 | 0.5 | +6.3% | |
| Selling & marketing | 0.0 | 0.0 | 0.1 | 0.0 | 0.1 | 0.1 | +0.0% | |
| Operating expenses | 1.5 | 1.5 | 0.5 | 0.5 | 0.5 | (19.2) | −4284.5% | |
| Operating income | (49.5) | 55.2 | (12.3) | 4.6 | 21.1 | 34.8 | +64.7% | |
| Interest expense | 0.5 | 0.4 | 0.5 | 1.3 | 1.5 | 1.4 | −6.7% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | −34.7% | |
| Other income / expense | (0.5) | (0.4) | (0.5) | (1.3) | (1.5) | (1.4) | +6.9% | |
| Pre-tax income | (50.0) | 54.8 | (12.8) | 3.3 | 19.6 | 33.4 | +70.3% | |
| Income tax | 0.2 | 0.1 | 0.3 | 0.3 | 0.6 | 0.1 | −87.5% | |
| Net income | (50.2) | 54.7 | (13.2) | 3.0 | 19.0 | 33.3 | +74.9% | |
| 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) | (1.03) | 1.13 | (0.27) | 0.06 | 0.40 | 0.69 | +72.5% | |
| EPS, diluted (per share) | (1.03) | 1.13 | (0.27) | 0.06 | 0.40 | 0.69 | +72.5% | |
| EBITDA | (0.0) | 55.2 | (0.0) | 4.6 | 21.1 | 33.4 | +58.1% | |
| Depreciation & amortization | 49.5 | 0.0 | 12.3 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 48,776,939 | 48,320,851 | 48,004,224 | 47,415,968 | 47,766,631 | 47,989,878 | +0.5% | |
| Weighted average diluted shares (shares) | 48,776,939 | 48,320,851 | 48,004,224 | 47,415,968 | 47,766,631 | 47,989,878 | +0.5% | |
| Gross margin | 102.2% | 100.0% | 110.6% | 100.0% | 47.6% | 94.3% | +46.7 pts | |
| Operating margin | 103.1% | 97.3% | 114.7% | 75.4% | 94.2% | 210.7% | +116.5 pts | |
| Net margin | 104.5% | 96.5% | 122.3% | 49.1% | 84.9% | 201.7% | +116.8 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
