B 
197.50p
-1.25%
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
£40.0m
FY2017FY2026
Net income
£3.3m
FY2017FY2026
Free cash flow
−£60,000
FY2017FY2026
Shareholders' equity
£48.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £40.0m | £35.9m | £28.9m | £22.7m | £18.8m | £11.6m | £9.4m | £7.4m | £5.6m | £4.0m |
| Gross profit | £15.8m | £14.0m | £11.3m | £9.1m | £7.9m | £5.0m | £4.5m | £3.6m | £3.0m | £1.6m |
| Operating income | £3.4m | £2.3m | £1.6m | −£331,000 | £385,000 | −£450,000 | £955,000 | £1.2m | £900,000 | −£673,000 |
| Net income | £3.3m | £3.0m | £2.2m | −£89,000 | £826,000 | £1.6m | £575,000 | £1.1m | £757,000 | −£761,000 |
| Diluted earnings per share | 0.05 | 0.04 | 0.03 | -0.00 | 0.01 | 0.03 | 0.01 | 0.02 | 0.01 | -0.02 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £65.4m | £57.7m | £49.5m | £47.4m | £44.7m | £22.9m | £16.8m | £8.2m | £6.8m | £2.3m |
| Cash and short-term investments | £5.4m | £7.4m | £7.7m | £7.8m | £10.2m | £3.4m | £1.4m | £2.3m | £2.9m | £23,000 |
| Total liabilities | £16.8m | £14.5m | £12.0m | £14.7m | £14.0m | £9.1m | £10.1m | £2.6m | £2.0m | £2.7m |
| Debt | £9.7m | £5.9m | £2.9m | £5.8m | £5.9m | £4.4m | £4.7m | £1.3m | £802,000 | £758,000 |
| Shareholders' equity | £48.6m | £43.2m | £37.5m | £32.8m | £30.8m | £13.8m | £6.7m | £5.6m | £4.8m | −£375,000 |
| Shares outstanding | 71m | 67m | 70m | 70m | 65m | 56m | 51m | 51m | 51m | 34m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £7.7m | £9.4m | £10.6m | £6.9m | £4.5m | £5.5m | £3.2m | £2.1m | £448,000 | £619,000 |
| Capital spending | −£7.8m | −£7.0m | −£6.8m | −£7.2m | −£12.2m | −£6.8m | −£3.5m | −£1.7m | −£1.5m | −£818,000 |
| Free cash flow | −£60,000 | £2.4m | £3.8m | −£207,000 | −£7.6m | −£1.3m | −£304,000 | £440,000 | −£1.0m | −£199,000 |
| Dividends paid | — | — | — | — | −£180,000 | −£180,000 | −£178,000 | −£254,000 | −£254,000 | −£254,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £25.3m | £14.7m | £20.1m | £15.8m | £15.5m | £13.0m | £12.0m | £10.4m |
| Gross profit | £11.6m | £4.2m | £8.2m | £5.8m | £6.2m | £4.8m | £4.6m | £4.2m |
| Operating income | £5.6m | −£2.2m | £2.0m | £272,000 | £1.1m | £105,000 | £349,000 | −£649,000 |
| Net income | £5.0m | −£1.7m | £2.6m | £329,000 | £2.0m | £201,000 | £389,000 | −£478,000 |
| Diluted earnings per share | 0.07 | -0.03 | 0.04 | 0.00 | 0.03 | 0.00 | 0.01 | -0.01 |
| Cash from operations | £4.0m | £2.0m | £6.0m | £3.0m | £5.0m | £4.0m | £5.0m | — |
| Capital spending | −£4.0m | −£3.0m | −£3.0m | −£1.0m | −£2.0m | −£2.0m | −£2.0m | −£4.0m |
| Free cash flow | £0 | −£1.0m | £3.0m | £2.0m | £3.0m | £2.0m | £3.0m | — |
| Total assets | £65.4m | £59.1m | £57.7m | £49.7m | £49.5m | £46.8m | £47.4m | £44.8m |
| Cash and short-term investments | £5.4m | £7.0m | £7.4m | £7.3m | £7.7m | £7.2m | £7.8m | £6.7m |
| Debt | £3.9m | £4.8m | £2.4m | £1.3m | £1.6m | £2.3m | £3.8m | £3.9m |
| Shareholders' equity | £48.6m | £43.0m | £43.2m | £39.2m | £37.5m | £34.1m | £32.8m | £31.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.7% | 28.0% | 31.0% |
| Operating income | — | — | 31.3% |
| Net income | — | 15.6% | 36.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 39.3% | 39.4% | 40.0% | 41.3% |
| Operating margin | 7.5% | 5.5% | 4.4% | 5.1% |
| Net margin | 8.3% | 6.6% | 6.8% | 6.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 43.6 | 53.0 | 89.6 | -783.6 | 107.7 | 61.6 | 84.8 | 55.3 | 73.6 | -19.2 |
| Price to sales | 3.6 | 4.4 | 6.8 | 3.1 | 4.7 | 8.5 | 5.2 | 8.0 | 10.0 | 3.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Mar 2021.
| FY2021 | FY2020 | FY2019 | |
|---|---|---|---|
| Paid in the year | 0.004 | 0.004 | 0.005 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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