| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 57.3 | 59.3 | 74.4 | 74.7 | 70.0 | 65.0 | −7.3% | |
| Cost of revenue | 40.5 | 40.6 | 53.3 | 40.6 | 36.5 | 45.2 | +23.7% | |
| Gross profit | 16.7 | 18.7 | 21.1 | 34.1 | 33.5 | 36.2 | +8.0% | |
| Research & development | 8.5 | 10.6 | 17.0 | 17.8 | 17.7 | 0.0 | −100.0% | |
| Selling, general & administrative | 0.3 | 0.6 | 0.7 | 0.1 | 0.6 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 8.5 | 10.6 | 17.0 | 28.8 | 27.8 | 29.6 | +6.3% | |
| Operating income | 8.2 | 6.5 | 3.7 | 5.3 | 5.7 | 6.6 | +16.0% | |
| Interest expense | 0.1 | 0.2 | 0.5 | 0.5 | 0.5 | 0.3 | −30.7% | |
| Interest income | 0.1 | 0.0 | 0.0 | 0.3 | 0.4 | 0.1 | −60.3% | |
| Other income / expense | (0.1) | (0.2) | (0.5) | (0.2) | (0.1) | (1.9) | −2272.0% | |
| Pre-tax income | 8.1 | 6.2 | 3.2 | 5.0 | 5.6 | 4.6 | −17.0% | |
| Income tax | 1.1 | 1.2 | 0.6 | 0.9 | 0.6 | 0.6 | +0.5% | |
| Net income | 7.0 | 5.1 | 2.6 | 4.1 | 5.0 | 4.0 | −19.2% | |
| 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) | 0.12 | 0.09 | 0.05 | 0.07 | 0.09 | 0.07 | −17.0% | |
| EPS, diluted (per share) | 0.12 | 0.09 | 0.04 | 0.07 | 0.09 | 0.07 | −17.9% | |
| EBITDA | 10.6 | 9.1 | 8.6 | 10.0 | 10.8 | 11.2 | +4.5% | |
| Depreciation & amortization | 2.4 | 2.6 | 4.5 | 4.4 | 4.8 | 4.7 | −2.0% | |
| Weighted average shares (shares) | 56,339,000 | 56,675,000 | 57,288,000 | 57,320,290 | 56,837,000 | 55,360,000 | −2.6% | |
| Weighted average diluted shares (shares) | 57,119,000 | 57,107,000 | 58,107,000 | 58,008,000 | 57,847,000 | 56,901,000 | −1.6% | |
| Gross margin | 29.2% | 31.6% | 28.4% | 45.7% | 47.8% | 55.7% | +7.9 pts | |
| Operating margin | 14.4% | 10.9% | 5.0% | 7.1% | 8.1% | 10.1% | +2.0 pts | |
| Net margin | 12.3% | 8.6% | 3.5% | 5.5% | 7.1% | 6.2% | −0.9 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
