| GBP millions | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 217.7 | 242.5 | 278.8 | 277.3 | 282.7 | 285.0 | +0.8% | |
| Cost of revenue | 65.1 | 70.5 | 81.0 | 82.8 | 84.9 | 122.1 | +43.8% | |
| Gross profit | 152.6 | 171.9 | 197.8 | 194.5 | 197.8 | 163.0 | −17.6% | |
| Research & development | 15.0 | 16.7 | 20.2 | 15.7 | 0.0 | 43.4 | — | |
| Selling, general & administrative | 84.7 | 127.9 | 166.1 | 160.4 | 122.4 | 89.6 | −26.8% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 117.5 | 148.5 | 313.3 | 176.1 | 175.2 | 133.0 | −24.1% | |
| Operating income | 35.5 | 23.4 | (112.4) | 18.4 | 22.7 | 30.0 | +32.5% | |
| Interest expense | 1.2 | 1.8 | 7.0 | 9.3 | 7.2 | 6.9 | −4.1% | |
| Interest income | 0.1 | 0.0 | 0.6 | 0.3 | 0.3 | 0.4 | +58.9% | |
| Other income / expense | (1.2) | (1.8) | (6.4) | (68.8) | (6.9) | (104.6) | −1410.3% | |
| Pre-tax income | 34.3 | 21.7 | (118.8) | (50.4) | 15.7 | (74.5) | −573.9% | |
| Income tax | 7.4 | 6.4 | 1.0 | (1.8) | 7.1 | 0.6 | −92.2% | |
| Net income | 26.9 | 15.3 | (119.8) | (48.6) | 8.6 | (75.1) | −970.0% | |
| 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) | 0.14 | 0.07 | (0.47) | (0.19) | 0.03 | (0.31) | −1011.8% | |
| EPS, diluted (per share) | 0.14 | 0.07 | (0.47) | (0.19) | 0.03 | (0.31) | −1017.2% | |
| EBITDA | 56.8 | 51.5 | (66.0) | 1.0 | 59.4 | 65.2 | +9.8% | |
| Depreciation & amortization | 21.2 | 28.1 | 46.1 | 42.1 | 36.8 | 35.2 | −4.3% | |
| Weighted average shares (shares) | 195,224,730 | 216,155,932 | 252,235,803 | 252,552,462 | 252,801,276 | 244,721,513 | −3.2% | |
| Weighted average diluted shares (shares) | 198,505,903 | 220,495,546 | 252,235,803 | 252,552,462 | 255,146,044 | 244,721,513 | −4.1% | |
| Gross margin | 70.1% | 70.9% | 71.0% | 70.1% | 70.0% | 57.2% | −12.8 pts | |
| Operating margin | 16.3% | 9.7% | −40.3% | 6.6% | 8.0% | 10.5% | +2.5 pts | |
| Net margin | 12.3% | 6.3% | −43.0% | −17.5% | 3.1% | −26.3% | −29.4 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
