C 
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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
$5.8m
FY2016FY2025
Net income
−$1.1m
FY2016FY2025
Free cash flow
−$12.1m
FY2016FY2025
Shareholders' equity
$28.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.8m | $9.2m | $7.5m | $8.5m | $8.8m | $5.1m | $5.9m | $14.7m | $15.1m | $19.7m |
| Operating income | −$2.6m | −$565,000 | −$627,000 | −$1.9m | −$6.3m | −$1.0m | −$6.8m | −$2.2m | −$2.5m | −$4.6m |
| Net income | −$1.1m | −$6.2m | $1.3m | −$1.6m | −$5.1m | −$996,000 | −$2.1m | $1.2m | −$1.6m | −$5.9m |
| Diluted earnings per share | -0.00 | -0.03 | 0.01 | -0.01 | -0.02 | -0.00 | -0.01 | 0.01 | -0.01 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $35.7m | $31.1m | $38.3m | $37.4m | $42.4m | $46.9m | $51.4m | $49.8m | $48.6m | $55.3m |
| Cash and short-term investments | $13.6m | $14.4m | $14.2m | $13.9m | $15.0m | $13.3m | $12.8m | $35.1m | $37.6m | $43.3m |
| Total liabilities | $7.6m | $2.1m | $1.8m | $1.9m | $2.0m | $1.9m | $1.6m | $1.7m | $2.2m | $7.2m |
| Debt | $6.0m | $173,000 | $235,000 | $107,000 | $206,000 | $292,000 | — | — | — | $3.6m |
| Shareholders' equity | $28.1m | $29.1m | $36.4m | $35.3m | $40.1m | $44.7m | $49.6m | $47.8m | $46.1m | $47.9m |
| Shares outstanding | 250m | 244m | 244m | 244m | 248m | 244m | 236m | 240m | 233m | 231m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$2.3m | $691,000 | −$438,000 | −$874,000 | $2.2m | $110,000 | −$4.2m | −$154,000 | −$1.8m | $2.6m |
| Capital spending | −$9.9m | −$1.0m | −$58,000 | −$93,000 | −$150,000 | −$279,000 | −$7.0m | −$3.9m | −$68,000 | −$119,000 |
| Free cash flow | −$12.1m | −$357,000 | −$496,000 | −$967,000 | $2.0m | −$169,000 | −$11.2m | −$4.1m | −$1.9m | $2.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.5m | $4.2m | $1.5m | $4.2m | $5.0m | $5.1m | $2.4m | $3.8m |
| Operating income | −$593,000 | −$2.9m | $260,500 | −$821,000 | $256,000 | $325,000 | −$1.1m | −$382,000 |
| Net income | −$745,000 | −$2.1m | $453,500 | −$6.5m | $219,000 | $1.4m | −$172,000 | $185,000 |
| Diluted earnings per share | -0.00 | -0.01 | 0.00 | -0.03 | 0.00 | 0.01 | -0.00 | 0.00 |
| Cash from operations | — | −$1.0m | — | — | — | — | — | — |
| Capital spending | −$1.0m | −$3.0m | −$3.0m | — | — | — | — | — |
| Free cash flow | — | −$4.0m | — | — | — | — | — | — |
| Total assets | $33.3m | $35.7m | $32.1m | $31.1m | $38.2m | $38.3m | $37.8m | $37.4m |
| Cash and short-term investments | $11.7m | $13.6m | $20.1m | $14.4m | $15.1m | $14.2m | $14.2m | $13.9m |
| Debt | $1.2m | $6.0m | $97,000 | $98,000 | $85,000 | $87,000 | $65,000 | $79,000 |
| Shareholders' equity | $26.6m | $28.1m | $30.4m | $29.1m | $36.2m | $36.4m | $35.4m | $35.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.9% | 2.6% | -22.6% |
| Operating income | 10.6% | 20.2% | — |
| Net income | -10.1% | 2.7% | -26.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -21.3% | -18.5% | -29.3% | -16.0% |
| Net margin | -49.3% | -24.8% | -30.6% | -25.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.6 | -2.2 | 4.7 | -4.8 | -2.2 | -8.9 | -7.9 | 16.6 | -15.9 | -4.9 |
| Price to sales | 2.5 | 1.5 | 0.8 | 0.9 | 1.3 | 1.7 | 2.8 | 1.4 | 1.7 | 1.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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