| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | (30.0) | 60.4 | 7.7 | 32.9 | 19.8 | 5.5 | −72.5% | |
| Cost of revenue | 1.9 | 1.9 | 2.0 | 2.0 | 2.3 | 2.6 | +12.5% | |
| Gross profit | (31.9) | 59.5 | 4.8 | 31.3 | 17.5 | 2.8 | −83.9% | |
| Research & development | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.6 | 0.5 | 0.6 | 0.7 | 0.7 | 0.0 | −100.0% | |
| Selling & marketing | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | −100.0% | |
| Operating expenses | 0.6 | 0.5 | 0.6 | 0.7 | 0.7 | (19.2) | −2782.2% | |
| Operating income | (30.6) | 57.0 | 2.1 | 28.6 | 59.2 | 22.0 | −62.8% | |
| Interest expense | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.0 | −100.0% | |
| Interest income | 0.0 | 7.3 | 0.0 | 0.0 | 0.1 | 10.4 | +19250.0% | |
| Other income / expense | 0.0 | 2.8 | 1.8 | 3.6 | 2.7 | (0.1) | −104.6% | |
| Pre-tax income | (30.6) | 59.8 | 3.9 | 32.2 | 61.9 | 21.9 | −64.7% | |
| Income tax | 0.8 | 0.7 | 0.8 | 0.9 | 0.9 | 0.9 | +1.0% | |
| Net income | (31.4) | 59.1 | 3.1 | 31.4 | 61.0 | 21.0 | −65.6% | |
| 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) | (0.25) | 0.48 | 0.03 | 0.26 | 0.51 | 0.18 | −64.7% | |
| EPS, diluted (per share) | (0.25) | 0.48 | 0.03 | 0.26 | 0.51 | 0.18 | −64.7% | |
| EBITDA | 1.3 | 57.0 | 2.1 | 28.6 | 59.2 | 22.0 | −62.8% | |
| Depreciation & amortization | 31.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 124,998,055 | 123,317,478 | 122,078,782 | 121,214,425 | 118,779,949 | 116,025,982 | −2.3% | |
| Weighted average diluted shares (shares) | 124,998,055 | 123,317,478 | 122,078,782 | 121,214,425 | 118,779,949 | 116,025,982 | −2.3% | |
| Gross margin | 106.3% | 98.6% | 61.6% | 95.1% | 88.2% | 51.6% | −36.6 pts | |
| Operating margin | 101.8% | 94.5% | 27.6% | 87.0% | 298.2% | 402.8% | +104.6 pts | |
| Net margin | 104.6% | 97.9% | 40.3% | 95.3% | 307.5% | 384.0% | +76.5 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
