A 
189.00p
-7.35%
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 GBP, from our data supplier.
Revenue
£65.0m
FY2016FY2025
Net income
£4.0m
FY2016FY2025
Free cash flow
£9.5m
FY2016FY2025
Shareholders' equity
£54.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £65.0m | £70.0m | £74.7m | £74.4m | £59.3m | £57.3m | £59.7m | £52.3m | £63.0m | £43.0m |
| Research and development | — | £17.7m | £17.8m | £17.0m | £10.6m | £8.5m | £9.3m | £8.2m | £8.6m | £7.2m |
| Operating income | £6.6m | £5.7m | £5.3m | £3.7m | £6.5m | £8.2m | £8.8m | £7.8m | £13.1m | £8.3m |
| Net income | £4.0m | £5.0m | £4.1m | £2.6m | £5.1m | £7.0m | £8.9m | £5.4m | £9.9m | £6.2m |
| Diluted earnings per share | 0.07 | 0.09 | 0.07 | 0.04 | 0.09 | 0.12 | 0.16 | 0.10 | 0.17 | 0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £106.4m | £114.8m | £119.4m | £118.2m | £117.2m | £88.2m | £81.6m | £116.6m | £110.8m | £83.4m |
| Cash and short-term investments | £29.6m | £30.4m | £34.1m | £29.2m | £29.1m | £44.8m | £33.0m | £29.2m | £19.1m | £23.8m |
| Total liabilities | £52.2m | £56.9m | £59.1m | £57.7m | £60.1m | £37.6m | £35.2m | £51.8m | £56.4m | £40.0m |
| Debt | £8.3m | £10.1m | £11.4m | £13.3m | £12.9m | £1.9m | £2.1m | £11.8m | £14.1m | £10.3m |
| Shareholders' equity | £54.2m | £57.9m | £60.3m | £60.5m | £57.2m | £50.6m | £46.4m | £64.8m | £54.4m | £43.4m |
| Shares outstanding | 58m | 58m | 58m | 59m | 59m | 56m | 57m | 56m | 57m | 55m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £10.2m | £6.8m | £11.0m | £3.2m | £11.9m | £16.4m | £16.0m | £11.5m | £12.2m | £10.6m |
| Capital spending | −£736,000 | −£1.6m | −£601,000 | −£831,000 | −£1.2m | −£232,000 | −£828,000 | −£985,000 | −£1.2m | −£894,000 |
| Free cash flow | £9.5m | £5.2m | £10.4m | £2.3m | £10.7m | £16.2m | £15.2m | £10.5m | £11.0m | £9.7m |
| Dividends paid | −£3.0m | −£3.1m | −£3.1m | −£3.1m | −£3.1m | −£3.0m | −£3.9m | −£3.9m | −£3.3m | −£2.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £28.8m | £32.1m | £32.8m | £34.8m | £35.3m | £37.1m | £37.5m | £18.8m |
| Operating income | £3.4m | £4.6m | £2.0m | £4.0m | £2.5m | £3.8m | £2.5m | £1.2m |
| Net income | £630,000 | £2.6m | £1.4m | £3.0m | £2.0m | £2.8m | £1.3m | £648,000 |
| Diluted earnings per share | 0.01 | 0.05 | 0.02 | 0.05 | 0.04 | 0.05 | 0.02 | 0.01 |
| Cash from operations | −£2.0m | £11.0m | — | £12.0m | −£5.0m | £11.0m | — | — |
| Total assets | £96.8m | £106.4m | £102.8m | £114.8m | £112.1m | £119.4m | £113.1m | £113.1m |
| Cash and short-term investments | £21.1m | £29.6m | £23.7m | £30.4m | £24.4m | £34.1m | £24.5m | £24.5m |
| Debt | £1.9m | £6.5m | £7.1m | £7.7m | £8.2m | £8.8m | £9.4m | £10.7m |
| Shareholders' equity | £50.4m | £54.2m | £54.9m | £57.9m | £58.7m | £60.3m | £59.6m | £59.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.4% | 2.6% | 7.4% |
| Operating income | 21.3% | -4.3% | -0.7% |
| Net income | 15.7% | -10.6% | 0.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 9.1% | 7.5% | 9.0% | 12.5% |
| Net margin | 6.7% | 5.5% | 6.9% | 9.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 42.2 | 39.4 | 39.1 | 79.9 | 67.2 | 35.7 | 39.9 | 40.4 | 30.6 | 18.7 |
| Price to sales | 2.6 | 2.8 | 2.2 | 2.8 | 5.7 | 4.4 | 5.9 | 4.2 | 4.8 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 20 years. Last went ex-dividend on 14 Aug 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.054 | 0.054 | 0.054 | 0.054 | 0.054 | 0.054 | 0.071 | 0.074 |
- 8-to-7 reverse split · 24 Sept 2019
- 9-to-7 reverse split · 19 Mar 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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