| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19.1 | 33.3 | 65.7 | 62.4 | 62.0 | 61.2 | −1.3% | |
| Cost of revenue | 8.6 | 8.2 | 15.9 | 16.3 | 16.9 | 26.1 | +54.5% | |
| Gross profit | 10.4 | 25.1 | 49.8 | 46.1 | 45.1 | 35.1 | −22.2% | |
| Research & development | 1.4 | 1.7 | 2.3 | 0.6 | 5.3 | 1.5 | −71.1% | |
| Selling, general & administrative | 13.1 | 25.6 | 47.5 | 38.8 | 35.8 | 31.9 | −11.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 13.2 | 34.3 | 57.0 | 56.7 | 51.2 | 33.4 | −34.7% | |
| Operating income | (2.7) | (5.1) | (7.2) | (10.6) | (6.1) | 1.6 | +126.9% | |
| Interest expense | 0.4 | 0.4 | 0.3 | 0.3 | 0.6 | 1.1 | +92.5% | |
| Interest income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | +0.0% | |
| Other income / expense | (3.0) | (4.4) | (0.3) | (0.2) | (0.6) | (11.1) | −1859.4% | |
| Pre-tax income | (5.7) | (9.6) | (7.5) | (10.8) | (6.7) | (9.5) | −41.7% | |
| Income tax | (0.7) | (0.8) | (3.3) | (2.9) | (0.1) | 0.2 | +296.9% | |
| Net income | (5.1) | (8.7) | (4.2) | (7.9) | (6.6) | (9.6) | −46.7% | |
| 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) | (0.07) | (0.09) | (0.03) | (0.06) | (0.05) | (0.07) | −37.3% | |
| EPS, diluted (per share) | (0.07) | (0.09) | (0.03) | (0.06) | (0.05) | (0.07) | −37.3% | |
| EBITDA | (2.1) | (5.0) | (0.2) | (2.8) | 1.5 | 9.9 | +566.7% | |
| Depreciation & amortization | 3.3 | 4.2 | 6.9 | 7.8 | 7.6 | 8.3 | +9.1% | |
| Weighted average shares (shares) | 72,180,000 | 96,237,000 | 127,643,000 | 127,699,000 | 127,699,000 | 136,334,000 | +6.8% | |
| Weighted average diluted shares (shares) | 72,180,000 | 96,237,000 | 127,643,000 | 127,699,000 | 127,699,000 | 136,334,000 | +6.8% | |
| Gross margin | 54.8% | 75.2% | 75.8% | 73.8% | 72.8% | 57.3% | −15.4 pts | |
| Operating margin | −14.3% | −15.4% | −11.0% | −17.0% | −9.8% | 2.7% | +12.5 pts | |
| Net margin | −26.7% | −26.2% | −6.4% | −12.7% | −10.6% | −15.8% | −5.2 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
