| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 73.1 | 102.2 | 152.5 | 213.8 | 259.5 | 245.2 | −5.5% | |
| Cost of revenue | 50.8 | 74.5 | 122.4 | 165.7 | 196.3 | 194.2 | −1.1% | |
| Gross profit | 22.2 | 27.7 | 30.1 | 48.1 | 63.2 | 51.1 | −19.2% | |
| Research & development | 2.8 | 6.6 | 5.2 | 6.1 | 17.9 | 11.9 | −33.4% | |
| Selling, general & administrative | 4.3 | 7.3 | 9.2 | 11.7 | 7.1 | 5.1 | −27.9% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 8.7 | 13.9 | 14.4 | 17.9 | 45.6 | 30.0 | −34.1% | |
| Operating income | 13.5 | 13.8 | 15.7 | 30.2 | 14.1 | 21.0 | +49.5% | |
| Interest expense | 0.0 | 0.3 | 0.2 | 0.6 | 2.4 | 1.1 | −55.7% | |
| Interest income | 0.1 | 0.0 | 0.0 | 1.1 | 1.1 | 0.8 | −31.0% | |
| Other income / expense | (0.1) | (0.4) | 0.6 | 0.5 | (1.0) | (0.9) | +12.3% | |
| Pre-tax income | 13.4 | 13.4 | 16.3 | 30.7 | 13.0 | 20.1 | +54.4% | |
| Income tax | 0.8 | 2.6 | 2.5 | 5.3 | 3.6 | 3.6 | +1.2% | |
| Net income | 12.6 | 10.8 | 13.9 | 25.4 | 9.2 | 16.5 | +79.8% | |
| 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) | 2.51 | 0.08 | 0.09 | 0.14 | 0.06 | 0.09 | +31.5% | |
| EPS, diluted (per share) | 2.51 | 0.08 | 0.09 | 0.14 | 0.06 | 0.08 | +34.7% | |
| EBITDA | 14.2 | 16.4 | 20.7 | 36.4 | 29.4 | 29.0 | −1.4% | |
| Depreciation & amortization | 0.7 | 2.8 | 4.2 | 5.0 | 10.7 | 8.0 | −25.5% | |
| Weighted average shares (shares) | 4,999,999 | 193,415,715 | 193,415,715 | 182,187,143 | 180,514,195 | 193,321,998 | +7.1% | |
| Weighted average diluted shares (shares) | 5,000,000 | 193,415,715 | 193,415,715 | 182,187,143 | 188,699,825 | 197,257,353 | +4.5% | |
| Gross margin | 30.4% | 27.1% | 19.8% | 22.5% | 24.4% | 20.8% | −3.5 pts | |
| Operating margin | 18.5% | 13.5% | 10.3% | 14.1% | 5.4% | 8.6% | +3.2 pts | |
| Net margin | 17.2% | 10.6% | 9.1% | 11.9% | 3.5% | 6.7% | +3.2 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
