A 
53.40p
-0.74%
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
£113,000
FY2015FY2024
Net income
−£52.8m
FY2015FY2024
Free cash flow
−£23.9m
FY2015FY2024
Shareholders' equity
£9.3m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £113,000 | £2.9m | £9.7m | £2.9m | £2.1m | £5.5m | £4.1m | £2.8m | £2.7m | £2.2m |
| Research and development | £14.3m | £13.1m | £11.1m | £13.5m | £8.9m | £7.9m | £5.9m | £3.8m | £2.6m | £1.5m |
| Operating income | −£31.8m | −£22.0m | −£25.5m | −£29.1m | −£18.6m | −£18.0m | −£11.2m | −£10.4m | −£8.0m | −£5.7m |
| Net income | −£52.8m | −£33.3m | −£36.6m | −£26.3m | −£18.9m | −£15.6m | −£9.7m | −£8.8m | −£6.4m | −£4.6m |
| Diluted earnings per share | -0.15 | -0.11 | -0.14 | -0.11 | -0.07 | -0.13 | -0.09 | -0.13 | -0.09 | -0.07 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £48.3m | £73.2m | £92.1m | £47.0m | £67.5m | £28.4m | £23.5m | £31.6m | £37.6m | £21.4m |
| Cash and short-term investments | £12.9m | £16.6m | £41.8m | £26.2m | £47.9m | £8.8m | £5.2m | £13.2m | £19.5m | £7.3m |
| Total liabilities | £39.0m | £56.3m | £67.9m | £5.8m | £5.5m | £2.6m | £2.0m | £1.7m | £1.7m | £2.3m |
| Debt | £24.2m | £46.6m | £58.9m | £1.7m | £2.0m | £823,000 | — | — | — | — |
| Shareholders' equity | £9.3m | £16.9m | £24.2m | £41.2m | £61.9m | £25.8m | £21.4m | £29.9m | £35.9m | £19.1m |
| Shares outstanding | 345m | 273m | 255m | 250m | 226m | 120m | 110m | 65m | 68m | 68m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£23.6m | −£14.9m | −£16.4m | −£20.5m | −£10.6m | −£13.0m | −£7.6m | −£5.5m | −£4.2m | −£4.2m |
| Capital spending | −£339,000 | −£1.3m | −£759,000 | −£1.3m | −£1.7m | −£2.5m | −£2.0m | −£2.5m | −£2.1m | −£4.6m |
| Free cash flow | −£23.9m | −£16.1m | −£17.2m | −£21.8m | −£12.3m | −£15.5m | −£9.6m | −£8.0m | −£6.4m | −£8.9m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £56,000 | −£11.1m | £56,000 | £11.4m | £11.9m | £5.9m | £4.1m | £2.1m |
| Operating income | −£13.1m | −£16.5m | −£14.0m | −£10.6m | −£11.3m | −£9.1m | −£16.5m | −£9.6m |
| Net income | −£17.7m | −£40.4m | −£8.0m | −£22.0m | −£12.0m | −£5.8m | −£29.0m | −£15.3m |
| Diluted earnings per share | -0.04 | -0.11 | -0.02 | -0.06 | -0.04 | -0.02 | -0.11 | -0.06 |
| Total assets | £29.2m | £48.3m | £89.3m | £73.0m | £88.0m | £87.8m | £92.0m | £92.7m |
| Cash and short-term investments | £12.6m | £12.9m | £28.6m | £16.6m | £26.0m | £26.0m | £41.8m | £41.8m |
| Debt | £19.4m | £23.3m | £26.1m | £45.0m | £49.9m | £20.6m | £57.8m | £22.5m |
| Shareholders' equity | £144,000 | £9.3m | £47.8m | £17.0m | £23.0m | £22.7m | £24.0m | £18.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -66.3% | -54.0% | -24.2% |
| Operating income | 3.0% | 12.0% | 26.0% |
| Net income | 26.2% | 27.6% | 18.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1815.6% | -696.9% | -624.9% | -498.4% |
| Net margin | -2904.8% | -958.0% | -790.7% | -606.0% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.3 | -9.6 | -8.0 | -12.0 | -13.6 | -0.9 | -2.3 | -3.1 | -5.0 | -12.6 |
| Price to sales | — | 111.4 | 30.4 | 107.2 | 119.9 | 2.4 | 5.3 | 9.8 | 11.6 | 27.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-to-1 reverse split · 26 Jan 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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