| GBP millions | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | Trend | YoY |
|---|---|---|---|---|---|---|---|---|
| Revenue | 48.3 | 111.8 | (104.4) | (5.7) | 1.4 | 4.6 | +225.9% | |
| Cost of revenue | 2.8 | 2.5 | 0.1 | 4.3 | 0.0 | 3.8 | +42422.2% | |
| Gross profit | 45.5 | 117.9 | (104.5) | (5.7) | 1.4 | 0.7 | −46.8% | |
| Research & development | 0.9 | 1.1 | 1.1 | 0.0 | 0.0 | 0.0 | — | |
| Selling, general & administrative | 0.7 | 0.7 | 0.8 | 0.7 | 0.8 | 0.8 | +5.0% | |
| Selling & marketing | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | — | |
| Operating expenses | 4.9 | 6.8 | 0.7 | 4.9 | 0.8 | 3.8 | +383.0% | |
| Operating income | 47.5 | 111.1 | (105.1) | (10.6) | 0.6 | (3.0) | −581.9% | |
| Interest expense | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | −100.0% | |
| Interest income | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | 3.0 | +3566.7% | |
| Other income / expense | 0.0 | 0.0 | (0.1) | 0.0 | 0.0 | 0.0 | — | |
| Pre-tax income | 47.5 | 111.1 | (105.2) | (10.6) | 0.6 | (3.0) | −581.9% | |
| Income tax | 0.0 | 0.0 | (0.1) | 0.0 | 0.0 | 0.0 | — | |
| Net income | 47.5 | 111.1 | (105.1) | (10.6) | 0.6 | (3.0) | −581.9% | |
| 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) | 0.35 | 0.75 | (0.67) | (0.06) | 0.00 | (0.01) | −535.3% | |
| EPS, diluted (per share) | 0.35 | 0.75 | (0.67) | (0.06) | 0.00 | (0.01) | −535.3% | |
| EBITDA | 47.8 | 111.3 | 0.1 | (10.6) | 0.6 | (3.0) | −581.9% | |
| Depreciation & amortization | 0.2 | 0.2 | 105.2 | 10.6 | 0.0 | 0.0 | — | |
| Weighted average shares (shares) | 137,556,739 | 148,025,675 | 156,227,950 | 169,797,096 | 183,590,913 | 203,957,547 | +11.1% | |
| Weighted average diluted shares (shares) | 137,556,594 | 148,025,648 | 156,227,923 | 169,795,766 | 183,590,913 | 203,957,547 | +11.1% | |
| Gross margin | 94.1% | 105.4% | 100.1% | 100.0% | 100.0% | 16.3% | −83.7 pts | |
| Operating margin | 98.5% | 99.3% | 100.7% | 186.7% | 44.5% | −65.9% | −110.4 pts | |
| Net margin | 98.5% | 99.3% | 100.7% | 186.7% | 44.5% | −65.9% | −110.4 pts |
Amounts are shown in the stated units; per-share amounts and shares are unscaled. Negative amounts are in brackets.
