| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 322.7 | 168.4 | 67.1 | (173.8) | (124.1) | 187.4 | +251.0% | |
| Cost of revenue | 4.6 | 7.8 | 2.7 | 4.5 | 5.6 | 4.2 | −25.3% | |
| Gross profit | 330.0 | 179.2 | 61.8 | (173.8) | 73.2 | 183.2 | +150.1% | |
| Research & development | 0.0 | 0.0 | (0.0) | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.7 | 0.9 | 1.0 | 0.9 | 1.5 | 3.3 | +116.4% | |
| Selling & marketing | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | +4.2% | |
| Operating expenses | 0.7 | 8.7 | 6.1 | 5.2 | 4.8 | 3.3 | −32.0% | |
| Operating income | 324.7 | 170.4 | (533.4) | (179.0) | 71.7 | 179.9 | +150.8% | |
| Interest expense | 1.3 | 1.4 | 2.7 | 6.3 | 6.3 | 4.2 | −32.5% | |
| Interest income | 0.0 | 0.4 | 0.6 | 0.4 | 0.7 | 0.5 | −19.3% | |
| Other income / expense | (2.7) | (3.0) | (8.8) | (3.5) | (2.3) | (2.8) | −21.3% | |
| Pre-tax income | 322.0 | 167.4 | (542.1) | (182.5) | 71.7 | 177.1 | +146.9% | |
| Income tax | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.1 | +39.1% | |
| Net income | 322.0 | 167.4 | (542.2) | (182.6) | 71.7 | 177.0 | +146.9% | |
| 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) | 1.00 | 0.43 | (1.69) | (0.47) | 0.19 | 0.49 | +157.9% | |
| EPS, diluted (per share) | 1.00 | 0.43 | (1.69) | (0.47) | 0.19 | 0.49 | +157.9% | |
| EBITDA | 324.7 | 170.4 | 0.0 | (176.2) | 74.0 | 179.9 | +142.9% | |
| Depreciation & amortization | 0.0 | 0.0 | 533.4 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 320,606,304 | 391,579,802 | 320,606,304 | 389,617,177 | 381,569,206 | 362,327,898 | −5.0% | |
| Weighted average diluted shares (shares) | 320,606,304 | 391,579,802 | 320,606,304 | 389,617,177 | 381,569,206 | 362,327,898 | −5.0% | |
| Gross margin | 102.2% | 106.4% | 92.1% | 100.0% | −59.0% | 97.8% | +156.8 pts | |
| Operating margin | 100.6% | 101.2% | −794.6% | 103.0% | −57.8% | 96.0% | +153.8 pts | |
| Net margin | 99.8% | 99.4% | −807.7% | 105.0% | −57.8% | 94.5% | +152.2 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
