| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.0 | 7.9 | 6.8 | 2.2 | 1.9 | 0.9 | −53.7% | |
| Cost of revenue | 1.8 | 6.7 | 6.3 | 2.2 | 1.2 | 0.5 | −58.6% | |
| Gross profit | 0.2 | 1.2 | 0.5 | 0.1 | 0.7 | 0.4 | −45.1% | |
| Operating expenses | 4.4 | 3.6 | 4.9 | 7.8 | 8.9 | 3.1 | −65.3% | |
| Operating income | (4.2) | (2.4) | (4.3) | (7.8) | (8.2) | (2.7) | +67.0% | |
| Interest expense | 1.1 | 0.4 | 0.5 | 1.3 | 2.0 | 0.9 | −53.3% | |
| Interest income | 0.0 | 0.1 | 0.3 | 0.1 | 0.1 | 0.0 | −100.0% | |
| Pre-tax income | (5.2) | (4.0) | (8.9) | (20.6) | (16.4) | (12.2) | +25.8% | |
| Income tax | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | −65.3% | |
| Net income | (5.1) | (4.0) | (9.0) | (20.7) | (16.4) | (12.2) | +26.0% | |
| EPS, basic (per share) | (0.09) | (0.05) | (0.10) | (0.18) | (0.06) | (0.02) | +65.0% | |
| EPS, diluted (per share) | (0.09) | (0.05) | (0.10) | (0.18) | (0.06) | (0.02) | +65.0% | |
| EBITDA | (4.1) | (2.2) | (4.0) | (7.5) | (7.9) | (2.5) | +68.8% | |
| Depreciation & amortization | 0.1 | 0.2 | 0.3 | 0.3 | 0.3 | 0.2 | −20.0% | |
| Weighted average shares (shares) | 54,351,079 | 79,564,497 | 89,660,843 | 114,129,384 | 286,013,613 | 606,570,920 | +112.1% | |
| Weighted average diluted shares (shares) | 54,351,079 | 79,564,497 | 89,660,843 | 114,129,384 | 286,013,613 | 606,570,920 | +112.1% | |
| Gross margin | 7.7% | 15.3% | 7.6% | 2.6% | 36.4% | 43.2% | +6.7 pts | |
| Operating margin | −211.9% | −30.2% | −63.8% | −350.0% | −439.0% | −312.4% | +126.5 pts | |
| Net margin | −257.9% | −51.2% | −132.1% | −933.7% | −882.0% | −1,408.5% | −526.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
