| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.7 | 1.2 | 2.4 | 4.6 | 5.1 | 1.7 | −66.1% | |
| Cost of revenue | 0.0 | 0.0 | 0.3 | 3.3 | 3.5 | 0.7 | −81.1% | |
| Gross profit | 1.7 | 1.2 | 2.4 | 4.6 | 1.5 | 1.1 | −31.9% | |
| Research & development | 3.9 | 5.4 | 8.6 | 6.0 | 3.0 | 2.7 | −11.4% | |
| Selling, general & administrative | 1.6 | 2.4 | 5.6 | 8.9 | 6.2 | 3.2 | −48.6% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 5.1 | 7.1 | 12.9 | 13.7 | 12.2 | 5.7 | −53.3% | |
| Operating income | (3.4) | (6.0) | (11.7) | (9.2) | (10.7) | (4.7) | +56.4% | |
| Interest expense | 0.1 | 0.5 | 0.0 | 0.0 | 0.0 | 0.0 | −50.0% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.3 | 0.1 | 0.1 | −27.7% | |
| Other income / expense | (0.1) | (0.5) | 0.1 | 0.3 | 0.1 | 5.7 | +7064.6% | |
| Pre-tax income | (3.5) | (6.9) | (10.5) | (8.9) | (10.6) | 1.0 | +109.4% | |
| Income tax | (0.8) | (0.8) | (1.3) | (0.3) | (0.4) | 0.1 | +116.2% | |
| Net income | (2.8) | (6.2) | (9.3) | (8.6) | (10.2) | 0.7 | +106.5% | |
| Discontinued operations | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | (0.3) | — | |
| Other net income adjustments | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | (0.10) | (0.27) | (0.32) | (0.28) | (0.31) | 0.02 | +105.7% | |
| EPS, diluted (per share) | (0.10) | (0.27) | (0.32) | (0.28) | (0.31) | 0.02 | +105.4% | |
| EBITDA | (3.3) | (6.3) | (10.1) | (8.4) | (10.2) | (4.5) | +56.1% | |
| Depreciation & amortization | 0.2 | 0.2 | 0.3 | 0.5 | 0.4 | 0.2 | −51.8% | |
| Weighted average shares (shares) | 27,683,532 | 23,033,420 | 28,936,088 | 30,622,622 | 33,439,766 | 37,756,601 | +12.9% | |
| Weighted average diluted shares (shares) | 27,683,532 | 23,033,420 | 28,936,088 | 30,622,622 | 33,439,766 | 39,437,536 | +17.9% | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 30.5% | 61.3% | +30.8 pts | |
| Operating margin | −201.9% | −516.1% | −485.2% | −200.6% | −211.7% | −272.2% | −60.5 pts | |
| Net margin | −162.1% | −532.7% | −385.4% | −187.1% | −202.6% | 38.7% | +241.3 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
