A 
1.50p
-11.76%
Close of 9 Nov 2026, in pence
Search any instrument
Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in GBP, from our data supplier.
Revenue
£15.0m
FY2016FY2025
Net income
−£12.0m
FY2016FY2025
Free cash flow
−£21.9m
FY2016FY2025
Shareholders' equity
£9.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £15.0m | £14.4m | £15.3m | £3.9m | £7.5m | £12.2m | £4.9m | £2.2m | £301,000 | £235,000 |
| Research and development | — | — | — | — | — | — | — | — | £81,000 | £140,000 |
| Operating income | £12.1m | £5.1m | £4.6m | −£8.8m | −£19.4m | −£15.5m | −£18.1m | −£17.0m | −£9.6m | −£6.2m |
| Net income | −£12.0m | −£20.1m | £25.4m | −£9.6m | −£67.6m | −£19.1m | −£34.9m | −£22.6m | −£10.8m | −£7.7m |
| Diluted earnings per share | -0.02 | -0.03 | 0.04 | -0.01 | -0.09 | -0.04 | -0.08 | -0.09 | -0.09 | -0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £131.5m | £115.0m | £128.9m | £84.7m | £87.9m | £158.7m | £168.1m | £189.4m | £21.1m | £18.3m |
| Cash and short-term investments | — | — | — | — | — | £5.8m | £4.5m | £9.3m | — | — |
| Total liabilities | £124.6m | £97.8m | £81.1m | £79.0m | £71.2m | £82.6m | £80.4m | £76.7m | £23.2m | £22.7m |
| Debt | £62.1m | £42.9m | £43.3m | £41.9m | £43.9m | £50.2m | £46.6m | £41.6m | £15.4m | £15.1m |
| Shareholders' equity | £9.2m | £22.2m | £45.7m | £5.4m | £14.9m | £76.1m | £87.7m | £112.7m | −£2.1m | −£4.4m |
| Shares outstanding | 725m | 723m | 725m | 725m | 725m | 454m | 414m | 261m | 122m | 113m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £2.9m | £4.6m | £9.3m | −£5.5m | −£6.7m | — | −£10.8m | −£13.9m | −£5.1m | −£13.3m |
| Capital spending | −£24.9m | — | −£1.3m | — | −£1.6m | — | −£1.8m | −£802,000 | −£10.3m | −£14.2m |
| Free cash flow | −£21.9m | £4.6m | £8.0m | −£5.5m | −£8.2m | — | −£12.6m | −£14.7m | −£15.4m | −£27.4m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | Dec 2021 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £3.5m | £2.4m | £12.0m | £2.8m | £12.4m | £2.6m | £1.3m | £2.3m |
| Operating income | −£1.6m | −£806,000 | £6.6m | −£1.6m | £6.7m | £248,000 | −£6.7m | −£9.0m |
| Net income | −£4.6m | −£14.7m | −£5.4m | £20.0m | £5.2m | −£1.8m | −£7.9m | −£56.7m |
| Diluted earnings per share | -0.01 | -0.02 | -0.01 | 0.03 | 0.01 | -0.00 | -0.01 | -0.09 |
| Cash from operations | −£2.0m | — | £4.0m | £4.0m | £5.0m | −£2.0m | −£3.0m | −£5.0m |
| Capital spending | — | — | — | −£1.0m | — | — | — | — |
| Free cash flow | — | — | — | £3.0m | — | — | — | — |
| Total assets | £115.9m | £115.0m | £124.5m | £129.0m | £85.0m | £84.7m | £84.7m | £87.9m |
| Cash and short-term investments | £5.3m | — | — | £4.2m | £2.3m | £3.7m | £4.1m | £3.8m |
| Debt | £51.0m | £42.9m | £43.4m | £45.0m | £42.0m | £42.9m | £43.5m | £44.6m |
| Shareholders' equity | £17.7m | £22.2m | £38.9m | £46.0m | £11.0m | £5.4m | £7.2m | £14.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 56.8% | 4.2% | 27.0% |
| Operating income | — | — | 12.8% |
| Net income | 7.5% | -8.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 58.8% | 27.0% | -31.9% | -89.2% |
| Net margin | -109.1% | -33.7% | -150.8% | -228.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -0.7 | 0.4 | -1.0 | -0.1 | -1.0 | -0.2 | -0.6 | -0.8 | -1.4 |
| Price to sales | 1.5 | 0.9 | 0.7 | 2.5 | 0.9 | 1.6 | 1.7 | 5.5 | 27.9 | 46.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.