| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.6 | 4.3 | 5.1 | 4.0 | 4.7 | 5.0 | +7.3% | |
| Cost of revenue | 2.9 | 3.7 | 4.7 | 2.3 | 3.0 | 2.5 | −18.2% | |
| Gross profit | 0.7 | 0.6 | 0.4 | 1.7 | 1.6 | 2.5 | +54.2% | |
| Research & development | 0.5 | 1.6 | 0.9 | 0.5 | (0.1) | (0.1) | −17.4% | |
| Selling, general & administrative | 1.9 | 2.0 | 2.9 | 3.8 | 3.0 | 3.0 | +0.1% | |
| Selling & marketing | (0.5) | (1.2) | (0.8) | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 2.4 | 3.6 | 3.7 | 6.2 | 3.2 | 2.9 | −7.1% | |
| Operating income | (1.7) | (3.0) | (3.2) | (5.2) | (1.5) | (0.4) | +73.7% | |
| Interest expense | 0.0 | 0.1 | 0.0 | 0.1 | 0.1 | 0.0 | −66.2% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | −66.7% | |
| Other income / expense | (0.0) | 0.0 | 0.1 | 0.1 | (0.1) | (0.2) | −250.0% | |
| Pre-tax income | (1.8) | (2.9) | (3.1) | (5.1) | (1.6) | (0.6) | +61.0% | |
| Income tax | (0.2) | (0.9) | (0.3) | 0.0 | (0.0) | 0.0 | +2600.0% | |
| Net income | (1.6) | (1.9) | (2.8) | (5.1) | (1.6) | (0.6) | +59.4% | |
| 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) | (0.04) | (0.03) | (0.04) | (0.08) | (0.02) | (0.00) | +74.7% | |
| EPS, diluted (per share) | (0.04) | (0.03) | (0.04) | (0.08) | (0.02) | (0.00) | +74.7% | |
| EBITDA | (0.6) | (1.3) | (2.0) | (4.1) | (0.7) | 0.4 | +158.5% | |
| Depreciation & amortization | 1.2 | 1.5 | 1.0 | 0.9 | 0.8 | 0.8 | −1.2% | |
| Weighted average shares (shares) | 37,697,047 | 59,612,590 | 67,251,505 | 67,381,385 | 95,186,704 | 152,474,375 | +60.2% | |
| Weighted average diluted shares (shares) | 37,697,047 | 59,612,590 | 67,251,505 | 67,381,385 | 95,186,704 | 152,474,375 | +60.2% | |
| Gross margin | 19.9% | 14.1% | 7.0% | 43.1% | 35.3% | 50.7% | +15.4 pts | |
| Operating margin | −46.6% | −69.3% | −62.8% | −129.0% | −32.5% | −8.0% | +24.6 pts | |
| Net margin | −46.1% | −45.5% | −55.8% | −128.0% | −33.8% | −12.8% | +21.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
