| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 55.0 | 56.5 | 59.8 | 103.2 | 102.1 | 104.9 | +2.8% | |
| Cost of revenue | 8.3 | 9.7 | 0.5 | 1.0 | 0.6 | 5.6 | +844.4% | |
| Gross profit | 46.7 | 46.8 | 59.3 | 102.2 | 102.1 | 99.3 | −2.7% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 5.9 | 14.7 | 22.1 | 39.1 | 43.1 | 0.0 | −100.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 2.4 | 0.0 | 0.0 | — | |
| Operating expenses | 12.1 | 14.7 | 24.2 | 39.1 | 46.3 | 20.8 | −55.1% | |
| Operating income | 40.6 | 42.3 | 41.1 | 63.1 | 55.8 | 78.5 | +40.8% | |
| Interest expense | 8.7 | 11.0 | 12.9 | 19.1 | 15.8 | 16.5 | +4.5% | |
| Interest income | 51.0 | 56.5 | 52.0 | 69.1 | 49.2 | 33.1 | −32.8% | |
| Other income / expense | (19.9) | (12.0) | (14.3) | (20.1) | (17.2) | (16.9) | +1.4% | |
| Pre-tax income | 20.7 | 30.3 | 26.8 | 43.1 | 55.8 | 61.6 | +10.4% | |
| Income tax | 0.0 | 0.0 | 0.4 | 2.7 | 6.2 | 5.0 | −18.7% | |
| Net income | 20.7 | 30.3 | 26.4 | 40.4 | 49.6 | 56.6 | +14.0% | |
| 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) | 0.56 | 0.86 | 0.62 | 0.63 | 0.79 | 0.94 | +19.0% | |
| EPS, diluted (per share) | 0.56 | 0.86 | 0.62 | 0.63 | 0.79 | 0.94 | +19.0% | |
| EBITDA | 40.6 | 43.2 | 41.6 | 59.7 | (0.0) | 80.9 | +1617480.0% | |
| Depreciation & amortization | 0.0 | 0.0 | 0.5 | 1.4 | 2.4 | 2.8 | +18.1% | |
| Weighted average shares (shares) | 36,657,807 | 35,259,741 | 42,444,118 | 64,210,000 | 62,977,000 | 60,344,000 | −4.2% | |
| Weighted average diluted shares (shares) | 36,657,807 | 35,259,741 | 42,444,118 | 64,209,597 | 62,977,000 | 60,344,000 | −4.2% | |
| Gross margin | 84.9% | 82.8% | 99.2% | 99.1% | 100.0% | 94.7% | −5.3 pts | |
| Operating margin | 73.9% | 74.9% | 68.8% | 61.2% | 54.6% | 74.8% | +20.2 pts | |
| Net margin | 37.7% | 53.7% | 44.1% | 39.2% | 48.6% | 53.9% | +5.3 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
