A 
382.50p
0.00%
Close of 9 Nov 2026, in pence
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in USD, from our data supplier.
Revenue
$125.4m
FY2016FY2025
Net income
$18.1m
FY2016FY2025
Free cash flow
$20.3m
FY2016FY2025
Shareholders' equity
$85.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $125.4m | $39.6m | $45.9m | $84.7m | $92.5m | $102.1m | $92.1m | $90.4m | $71.8m | $79.2m |
| Research and development | $224,615 | $358,000 | $271,000 | $303,000 | $121,000 | — | — | — | — | — |
| Operating income | $40.6m | −$18.6m | −$30.0m | $9.3m | $12.1m | $36.1m | $31.3m | $26.8m | $9.2m | $13.1m |
| Net income | $18.1m | −$17.5m | −$24.2m | $3.7m | $7.4m | $23.2m | $19.3m | $16.3m | $2.5m | $4.0m |
| Diluted earnings per share | 0.16 | -0.15 | -0.21 | 0.03 | 0.06 | 0.20 | 0.17 | 0.14 | 0.02 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $266.5m | $146.6m | $154.6m | $181.2m | $189.4m | $179.8m | $181.8m | $155.8m | $152.2m | $168.1m |
| Cash and short-term investments | $30.3m | $886,000 | $4.5m | $20.4m | $37.5m | $39.0m | $22.9m | $14.5m | $2.5m | $1.4m |
| Total liabilities | $181.3m | $79.3m | $69.8m | $67.7m | $71.0m | $57.8m | $72.8m | $57.4m | $66.8m | $85.4m |
| Debt | $66.9m | $23.8m | $23.2m | $2.7m | $3.3m | $1.9m | $5.4m | $8.4m | $20.7m | $35.9m |
| Shareholders' equity | $85.3m | $67.4m | $84.7m | $113.5m | $118.4m | $122.0m | $109.1m | $98.4m | $85.4m | $82.6m |
| Shares outstanding | 115m | 114m | 114m | 114m | 114m | 114m | 114m | 114m | 114m | 112m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $46.7m | $8.6m | $939,000 | $13.5m | $26.0m | $49.5m | $29.7m | $47.1m | $29.8m | $29.6m |
| Capital spending | −$26.5m | −$11.1m | −$25.3m | −$17.3m | −$13.8m | −$15.7m | −$9.2m | −$18.2m | −$10.5m | −$11.0m |
| Free cash flow | $20.3m | −$2.5m | −$24.3m | −$3.8m | $12.2m | $33.8m | $20.5m | $28.9m | $19.4m | $18.5m |
| Dividends paid | — | — | −$4.6m | −$8.6m | −$10.9m | −$10.3m | −$8.7m | −$3.4m | −$3.4m | −$3.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $138.4m | $82.3m | $40.9m | $26.2m | $13.4m | $15.1m | $31.7m | $53.2m |
| Operating income | $70.5m | $35.8m | $8.8m | −$14.1m | −$4.7m | −$27.0m | $2.5m | $1.7m |
| Net income | $45.2m | $13.1m | $4.7m | −$13.4m | −$4.1m | −$25.5m | $836,815 | $185,000 |
| Diluted earnings per share | 0.39 | 0.11 | 0.04 | -0.12 | -0.04 | -0.22 | 0.01 | 0.00 |
| Cash from operations | $76.0m | $34.0m | $11.0m | $5.0m | $3.0m | — | — | $19.0m |
| Capital spending | −$13.0m | −$17.0m | −$7.0m | −$2.0m | −$6.0m | −$11.0m | −$10.0m | −$5.0m |
| Free cash flow | $63.0m | $17.0m | $4.0m | $3.0m | −$3.0m | — | — | $14.0m |
| Total assets | $311.7m | $266.5m | $156.4m | $146.6m | $156.4m | $167.7m | $180.3m | $181.2m |
| Cash and short-term investments | $70.3m | $30.3m | $5.3m | $886,000 | $1.9m | $10.5m | $9.6m | $20.4m |
| Debt | $23.1m | $41.4m | $21.1m | $22.3m | $20.2m | $21.3m | $449,000 | $419,000 |
| Shareholders' equity | $132.3m | $85.3m | $72.0m | $67.4m | $80.7m | $84.7m | $114.5m | $113.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 14.0% | 4.2% | 4.9% |
| Operating income | 63.6% | 2.4% | — |
| Net income | 70.2% | -4.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 13.4% | 0.4% | 10.1% | 14.1% |
| Net margin | 0.3% | -6.8% | 2.2% | 5.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 23.3 | -9.3 | -3.6 | 40.6 | 23.3 | 8.6 | 12.0 | 8.2 | 19.4 | 9.0 |
| Price to sales | 3.4 | 4.1 | 1.9 | 1.8 | 1.9 | 2.0 | 2.5 | 1.5 | 0.7 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Aug 2026.
| FY2026 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.075 | 0.095 | 0.09 | 0.075 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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