| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 22.4 | 24.7 | 32.5 | 46.0 | 57.5 | 65.5 | +13.9% | |
| Cost of revenue | 5.2 | 5.0 | 6.4 | 14.5 | 23.1 | 32.2 | +39.1% | |
| Gross profit | 17.2 | 19.7 | 26.2 | 31.5 | 34.4 | 33.4 | −3.0% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 1.2 | 1.6 | 1.8 | 2.0 | 2.9 | 3.7 | +28.0% | |
| Selling & marketing | 0.2 | 0.3 | 0.4 | 0.5 | 0.4 | 0.7 | +66.0% | |
| Operating expenses | 15.2 | 16.7 | 20.9 | 20.3 | 24.5 | 26.1 | +6.7% | |
| Operating income | 1.5 | 5.3 | 5.5 | 11.2 | 9.9 | 7.3 | −26.1% | |
| Interest expense | 5.2 | 5.0 | 6.4 | 14.5 | 23.1 | 21.4 | −7.5% | |
| Interest income | 20.7 | 22.9 | 30.7 | 46.9 | 55.9 | 58.9 | +5.3% | |
| Other income / expense | 0.5 | (2.2) | (0.3) | (4.1) | 0.1 | 0.0 | −100.0% | |
| Pre-tax income | 2.0 | 3.0 | 5.2 | 7.0 | 9.9 | 7.2 | −27.0% | |
| Income tax | 0.1 | 0.2 | 0.5 | 0.9 | 1.4 | 0.9 | −31.8% | |
| Net income | 1.9 | 2.8 | 4.3 | 5.3 | 8.1 | 6.4 | −21.1% | |
| 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 | 0.1 | — | |
| EPS, basic (per share) | 0.02 | 0.02 | 0.04 | 0.05 | 0.07 | 0.05 | −22.4% | |
| EPS, diluted (per share) | 0.01 | 0.02 | 0.03 | 0.04 | 0.05 | 0.04 | −23.7% | |
| EBITDA | 2.8 | 4.4 | 6.8 | 8.6 | 11.2 | 8.1 | −27.6% | |
| Depreciation & amortization | 1.3 | 1.4 | 1.3 | 1.5 | 1.3 | 0.9 | −31.8% | |
| Weighted average shares (shares) | 118,964,000 | 114,292,000 | 114,764,000 | 115,331,000 | 117,923,558 | 119,891,760 | +1.7% | |
| Weighted average diluted shares (shares) | 155,520,000 | 150,847,000 | 147,816,000 | 150,655,000 | 153,461,799 | 155,430,649 | +1.3% | |
| Gross margin | 76.7% | 79.9% | 80.6% | 68.4% | 59.8% | 50.9% | −8.9 pts | |
| Operating margin | 6.7% | 21.4% | 16.8% | 24.3% | 17.3% | 11.2% | −6.1 pts | |
| Net margin | 8.6% | 11.3% | 13.3% | 11.5% | 14.1% | 9.7% | −4.3 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
