| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 109.0 | 124.3 | 140.2 | 147.4 | 153.1 | 132.5 | −13.5% | |
| Cost of revenue | 77.1 | 82.1 | 101.1 | 102.6 | 108.6 | 98.7 | −9.1% | |
| Gross profit | 31.9 | 42.2 | 39.1 | 44.8 | 44.5 | 33.8 | −24.0% | |
| Research & development | 2.0 | 1.8 | 2.3 | 1.7 | 1.5 | 0.0 | −100.0% | |
| Selling, general & administrative | 16.8 | 20.9 | 23.3 | 26.5 | 24.6 | 23.1 | −6.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 16.8 | 22.2 | 23.3 | 30.3 | 24.6 | 23.1 | −6.0% | |
| Operating income | 15.1 | 20.0 | 15.6 | 18.8 | 19.9 | 10.7 | −46.3% | |
| Interest expense | 0.4 | 0.4 | 0.5 | 1.1 | 1.0 | 0.6 | −35.9% | |
| Interest income | 0.1 | 0.0 | 0.0 | 0.1 | 0.2 | 0.3 | +26.6% | |
| Other income / expense | (0.3) | (0.4) | 0.4 | (5.3) | (1.4) | (3.7) | −160.5% | |
| Pre-tax income | 13.7 | 19.6 | 16.2 | 13.5 | 18.5 | 7.0 | −62.1% | |
| Income tax | 2.9 | 4.5 | 2.9 | 2.6 | 4.1 | 1.9 | −52.3% | |
| Net income | 9.8 | 15.1 | 13.3 | 10.9 | 14.4 | 5.1 | −64.8% | |
| Discontinued operations | (1.1) | 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) | 0.17 | 0.25 | 0.22 | 0.18 | 0.24 | 0.08 | −65.1% | |
| EPS, diluted (per share) | 0.17 | 0.25 | 0.22 | 0.18 | 0.23 | 0.08 | −63.7% | |
| EBITDA | 15.7 | 21.5 | 19.1 | 19.3 | 24.2 | 13.2 | −45.7% | |
| Depreciation & amortization | 1.8 | 1.8 | 2.7 | 4.7 | 5.1 | 5.5 | +8.7% | |
| Weighted average shares (shares) | 59,841,000 | 60,125,000 | 60,400,000 | 60,762,000 | 61,006,000 | 60,446,000 | −0.9% | |
| Weighted average diluted shares (shares) | 60,412,000 | 60,821,000 | 61,035,000 | 61,108,000 | 61,344,000 | 60,577,000 | −1.3% | |
| Gross margin | 29.2% | 34.0% | 27.9% | 30.4% | 29.1% | 25.5% | −3.5 pts | |
| Operating margin | 13.8% | 16.1% | 11.1% | 12.8% | 13.0% | 8.1% | −4.9 pts | |
| Net margin | 9.0% | 12.2% | 9.5% | 7.4% | 9.4% | 3.8% | −5.6 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
