| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.2 | 8.4 | 10.3 | 12.0 | 14.1 | 13.7 | −2.8% | |
| Cost of revenue | 8.5 | 5.7 | 5.3 | 4.0 | 5.8 | 5.4 | −6.9% | |
| Gross profit | 4.7 | 2.7 | 5.0 | 8.0 | 8.3 | 8.3 | +0.0% | |
| Research & development | 2.5 | 1.9 | 2.4 | 2.6 | 2.0 | 2.0 | +0.0% | |
| Selling, general & administrative | 9.6 | 10.2 | 12.9 | 11.4 | 10.2 | 8.0 | −21.6% | |
| Selling & marketing | 1.4 | 2.6 | 3.0 | 2.6 | 0.0 | 0.0 | — | |
| Operating expenses | 9.1 | 10.2 | 13.1 | 13.1 | 12.2 | 10.0 | −18.0% | |
| Operating income | (4.4) | (7.5) | (8.1) | (5.1) | (3.9) | (1.7) | +56.4% | |
| Interest expense | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Interest income | 0.1 | 0.0 | 0.1 | 0.5 | 0.0 | 0.0 | — | |
| Other income / expense | (0.9) | (1.0) | 0.1 | 0.5 | (0.5) | (0.9) | −80.0% | |
| Pre-tax income | (5.3) | (8.5) | (12.3) | (4.6) | (4.4) | (2.6) | +40.9% | |
| Income tax | (0.3) | (0.3) | (0.3) | (0.1) | (0.8) | 0.2 | +125.0% | |
| Net income | (4.9) | (6.8) | (12.3) | (4.5) | (3.6) | (2.8) | +22.2% | |
| Discontinued operations | 0.0 | 1.4 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Other net income adjustments | 0.6 | 0.0 | (0.3) | 0.0 | 0.0 | 0.0 | — | |
| EPS, basic (per share) | (0.08) | (0.10) | (0.11) | (0.04) | (0.03) | (0.03) | +22.2% | |
| EPS, diluted (per share) | (0.04) | (0.05) | (0.11) | (0.04) | (0.03) | (0.03) | +22.2% | |
| EBITDA | (3.4) | (5.6) | (7.0) | (3.6) | (2.9) | (0.1) | +96.6% | |
| Depreciation & amortization | 1.9 | 1.9 | 1.5 | 1.4 | 1.5 | 1.6 | +6.7% | |
| Weighted average shares (shares) | 61,500,000 | 68,100,000 | 108,000,000 | 108,000,000 | 108,000,000 | 108,000,000 | +0.0% | |
| Weighted average diluted shares (shares) | 134,920,617 | 134,920,617 | 108,000,000 | 108,000,000 | 108,000,000 | 108,000,000 | +0.0% | |
| Gross margin | 35.6% | 32.1% | 48.5% | 66.7% | 58.9% | 60.6% | +1.7 pts | |
| Operating margin | −33.3% | −89.3% | −78.6% | −42.5% | −27.7% | −12.4% | +15.3 pts | |
| Net margin | −37.1% | −81.0% | −119.4% | −37.5% | −25.5% | −20.4% | +5.1 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
