| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (20.8) | 96.8 | 45.2 | (2.9) | 98.6 | 38.2 | −61.2% | |
| Cost of revenue | 2.8 | 3.1 | 3.2 | 3.0 | 2.8 | 2.5 | −11.1% | |
| Gross profit | (23.6) | 93.7 | 42.0 | (5.9) | 95.8 | 35.8 | −62.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.8 | 0.7 | 0.9 | 0.9 | 0.8 | 0.0 | −100.0% | |
| Selling & marketing | 0.2 | 0.2 | 0.2 | 0.2 | 0.0 | 0.0 | — | |
| Operating expenses | 0.8 | 0.7 | 0.9 | 3.9 | 0.8 | 0.7 | −11.7% | |
| Operating income | (21.6) | 97.1 | 45.6 | (6.9) | 95.0 | 35.1 | −63.1% | |
| Interest expense | 0.5 | 1.1 | 1.2 | 1.2 | 0.0 | 1.1 | — | |
| Interest income | 0.6 | 0.1 | 0.5 | 1.1 | 0.0 | 15.5 | — | |
| Other income / expense | 0.3 | (1.6) | (2.7) | 0.1 | (2.0) | 2.0 | +197.1% | |
| Pre-tax income | (21.6) | 96.0 | 44.4 | (6.7) | 93.0 | 37.0 | −60.2% | |
| Income tax | 2.5 | 2.2 | 2.6 | 2.5 | 2.3 | 2.3 | −0.1% | |
| Net income | (24.1) | 93.9 | 41.8 | (9.2) | 90.7 | 34.8 | −61.7% | |
| 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) | (0.17) | 0.66 | 0.30 | (0.07) | 0.69 | 0.29 | −58.0% | |
| EPS, diluted (per share) | (0.17) | 0.66 | 0.30 | (0.07) | 0.69 | 0.29 | −58.0% | |
| EBITDA | 0.0 | 97.6 | 47.1 | (5.5) | 95.0 | 38.1 | −59.9% | |
| Depreciation & amortization | 21.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 143,206,658 | 141,265,873 | 140,284,541 | 139,475,124 | 131,124,250 | 118,503,400 | −9.6% | |
| Weighted average diluted shares (shares) | 143,206,658 | 141,265,873 | 140,284,541 | 139,474,109 | 131,124,250 | 118,503,400 | −9.6% | |
| Gross margin | 113.2% | 96.8% | 92.9% | 200.9% | 97.2% | 93.5% | −3.6 pts | |
| Operating margin | 103.6% | 100.3% | 100.7% | 233.9% | 96.4% | 91.7% | −4.7 pts | |
| Net margin | 115.5% | 97.0% | 92.4% | 312.9% | 92.0% | 90.9% | −1.1 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
