| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 190.7 | 245.5 | 187.5 | 42.2 | 118.4 | 16.1 | −86.4% | |
| Cost of revenue | 10.7 | 13.4 | 17.0 | 15.4 | 0.7 | 16.1 | +2330.1% | |
| Gross profit | 179.9 | 232.1 | 170.5 | 26.8 | 117.7 | 0.1 | −99.9% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 14.7 | 17.7 | 23.0 | 1.8 | 1.5 | 2.3 | +51.4% | |
| Selling & marketing | 3.9 | 4.3 | 6.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 15.5 | 19.0 | 22.8 | 9.4 | 10.2 | 2.3 | −77.7% | |
| Operating income | 176.0 | 227.8 | 164.5 | 17.4 | 107.5 | (2.2) | −102.0% | |
| Interest expense | 0.1 | 0.1 | 0.2 | 0.5 | 0.7 | 9.8 | +1379.1% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.4 | 0.0 | 2.5 | +5112.5% | |
| Other income / expense | (0.9) | (1.3) | 0.0 | 0.0 | 0.0 | (6.2) | — | |
| Pre-tax income | 175.1 | 226.5 | 164.5 | 17.4 | 107.5 | (8.4) | −107.8% | |
| Income tax | (1.1) | (1.4) | (0.2) | 0.0 | 0.0 | 0.0 | — | |
| Net income | 175.1 | 226.5 | 164.5 | 17.4 | 107.5 | (8.4) | −107.8% | |
| 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) | 2.55 | 3.30 | 2.40 | 0.26 | 1.64 | (0.13) | −107.9% | |
| EPS, diluted (per share) | 2.55 | 3.30 | 2.40 | 0.27 | 1.64 | (0.13) | −107.9% | |
| EBITDA | 178.5 | 230.0 | 168.5 | 24.3 | 107.5 | 1.3 | −98.7% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.0 | 7.6 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 68,781,700 | 66,638,288 | 68,496,802 | 67,761,359 | 65,569,285 | 63,153,044 | −3.7% | |
| Weighted average diluted shares (shares) | 68,781,700 | 68,639,573 | 68,496,802 | 64,979,091 | 65,598,877 | 63,153,044 | −3.7% | |
| Gross margin | 94.4% | 94.5% | 90.9% | 63.4% | 99.4% | 0.5% | −98.9 pts | |
| Operating margin | 92.3% | 92.8% | 87.7% | 41.1% | 90.8% | −13.5% | −104.4 pts | |
| Net margin | 91.8% | 92.2% | 87.8% | 41.1% | 90.8% | −52.2% | −143.0 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
