| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87.7 | 142.8 | 140.0 | 89.5 | 128.8 | 168.7 | +31.0% | |
| Cost of revenue | 41.7 | 60.2 | 70.8 | 49.8 | 75.8 | 102.8 | +35.6% | |
| Gross profit | 46.1 | 82.6 | 69.2 | 39.7 | 53.0 | 66.0 | +24.4% | |
| Research & development | 29.7 | 40.2 | 60.9 | 59.4 | 4.5 | 62.8 | +1281.3% | |
| Selling, general & administrative | 11.3 | 15.2 | 28.2 | 25.4 | 29.4 | 36.8 | +24.9% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 50.9 | 61.7 | 120.7 | 223.9 | 92.4 | 94.9 | +2.8% | |
| Operating income | (5.7) | 20.8 | (30.2) | (184.2) | (39.4) | (29.6) | +24.8% | |
| Interest expense | 0.9 | 0.9 | 8.8 | 11.2 | 9.8 | 13.9 | +40.9% | |
| Interest income | 0.0 | 0.0 | 1.0 | 4.9 | 3.2 | 2.4 | −26.6% | |
| Other income / expense | (0.9) | (0.9) | (15.8) | (4.4) | (7.9) | (2.3) | +70.5% | |
| Pre-tax income | (6.6) | 19.9 | (46.0) | (188.5) | (47.3) | (31.9) | +32.4% | |
| Income tax | (0.3) | 0.9 | (0.8) | (4.4) | 1.3 | (1.3) | −196.1% | |
| Net income | (6.2) | 19.0 | (39.2) | (157.5) | (43.2) | (30.1) | +30.2% | |
| 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) | (0.08) | 0.23 | (0.41) | (1.63) | (0.42) | (0.27) | +35.7% | |
| EPS, diluted (per share) | (0.08) | 0.22 | (0.41) | (1.63) | (0.42) | (0.27) | +35.7% | |
| EBITDA | 3.9 | 33.2 | (10.8) | (148.6) | (14.3) | (9.1) | +36.4% | |
| Depreciation & amortization | 9.6 | 12.5 | 26.4 | 28.7 | 23.1 | 20.5 | −11.3% | |
| Weighted average shares (shares) | 79,944,911 | 83,484,173 | 94,829,892 | 96,555,347 | 103,458,254 | 111,921,751 | +8.2% | |
| Weighted average diluted shares (shares) | 79,944,911 | 85,618,667 | 94,829,892 | 96,555,347 | 103,458,254 | 111,921,751 | +8.2% | |
| Gross margin | 52.5% | 57.9% | 49.4% | 44.4% | 41.2% | 39.1% | −2.1 pts | |
| Operating margin | −6.5% | 14.5% | −21.6% | −205.7% | −30.6% | −17.5% | +13.0 pts | |
| Net margin | −7.1% | 13.3% | −28.0% | −175.9% | −33.5% | −17.9% | +15.7 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
