| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (67.2) | 183.6 | 42.0 | (19.6) | 107.1 | 173.5 | +61.9% | |
| Cost of revenue | 2.1 | (5.9) | (6.9) | 0.0 | 0.0 | 3.5 | — | |
| Gross profit | (69.3) | 189.5 | 48.9 | (19.6) | 107.1 | 170.0 | +58.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 2.2 | 2.1 | 3.0 | 4.4 | 2.3 | 2.6 | +11.8% | |
| Selling & marketing | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | +10.1% | |
| Operating expenses | 1.1 | 0.9 | 1.2 | 4.4 | 2.3 | 1.2 | −46.6% | |
| Operating income | (64.8) | 185.9 | 44.7 | (23.9) | 104.8 | 168.8 | +61.0% | |
| Interest expense | 3.4 | 3.2 | 3.8 | 5.5 | 5.6 | 5.9 | +5.3% | |
| Interest income | 0.0 | 0.0 | 0.1 | 0.4 | 0.3 | 50.2 | +14809.5% | |
| Other income / expense | (3.4) | (3.3) | (3.9) | (5.6) | (0.0) | (6.0) | −150025.0% | |
| Pre-tax income | (68.2) | 182.7 | 40.8 | (29.5) | 104.8 | 162.8 | +55.3% | |
| Income tax | 0.1 | 0.4 | 0.6 | 0.8 | 0.5 | 0.4 | −28.7% | |
| Net income | (68.3) | 182.2 | 40.2 | (30.2) | 104.3 | 162.4 | +55.8% | |
| 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) | (0.58) | 1.47 | 0.30 | (0.21) | 0.70 | 1.10 | +57.1% | |
| EPS, diluted (per share) | (0.58) | 1.47 | 0.30 | (0.21) | 0.70 | 1.10 | +57.1% | |
| EBITDA | 0.0 | 185.9 | 44.7 | (24.0) | 110.4 | 168.7 | +52.8% | |
| Depreciation & amortization | 64.8 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 118,050,092 | 124,156,079 | 134,599,189 | 145,769,940 | 148,372,564 | 148,198,321 | −0.1% | |
| Weighted average diluted shares (shares) | 118,050,092 | 124,156,079 | 134,599,189 | 145,769,940 | 148,372,564 | 148,198,321 | −0.1% | |
| Gross margin | 103.2% | 103.2% | 116.4% | 100.0% | 100.0% | 98.0% | −2.0 pts | |
| Operating margin | 96.5% | 101.3% | 106.6% | 122.3% | 97.8% | 97.3% | −0.5 pts | |
| Net margin | 101.7% | 99.3% | 95.8% | 154.7% | 97.3% | 93.6% | −3.7 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
