C 
28.00p
+1.82%
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
£9.4m
FY2016FY2025
Net income
−£1.7m
FY2016FY2025
Free cash flow
−£262,000
FY2016FY2025
Shareholders' equity
£3.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £9.4m | £10.3m | £13.5m | £12.6m | £10.1m | £6.7m | £5.0m | £6.1m | £6.7m | £6.9m |
| Gross profit | £7.0m | £8.4m | £10.8m | £9.3m | £8.1m | £5.4m | £3.9m | £5.2m | £6.1m | £5.9m |
| Research and development | £2.4m | £2.6m | £3.8m | £2.2m | £1.7m | £1.5m | £1.7m | £1.4m | £1.1m | £890,000 |
| Operating income | −£1.6m | −£1.2m | −£3.3m | −£936,000 | £264,000 | −£644,000 | −£3.0m | −£1.5m | −£284,000 | £116,000 |
| Net income | −£1.7m | −£1.8m | −£3.5m | −£409,000 | £450,000 | −£438,000 | −£2.9m | −£1.4m | −£257,000 | £272,000 |
| Diluted earnings per share | -0.04 | -0.04 | -0.10 | -0.01 | 0.01 | -0.01 | -0.12 | -0.07 | -0.01 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £11.3m | £13.0m | £14.2m | £15.1m | £12.5m | £6.3m | £3.2m | £3.5m | £4.6m | £5.1m |
| Cash and short-term investments | £1.1m | £1.3m | £3.2m | £8.3m | £6.8m | £3.0m | £901,000 | £1.1m | £1.9m | £2.4m |
| Total liabilities | £8.3m | £9.7m | £12.9m | £15.0m | £11.9m | £6.2m | £4.1m | £4.0m | £1.5m | £2.2m |
| Debt | £873,000 | £1.9m | £2.6m | £18,000 | £18,000 | £98,000 | £92,000 | −£2.8m | — | — |
| Shareholders' equity | £3.0m | £3.4m | £1.3m | £95,000 | £632,000 | £57,000 | −£944,000 | −£526,000 | £3.0m | £2.9m |
| Shares outstanding | 47m | 42m | 34m | 31m | 31m | 31m | 24m | 21m | 21m | 20m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£232,000 | −£3.1m | −£5.0m | £1.7m | £3.9m | £1.0m | −£2.3m | −£644,000 | −£624,000 | £473,000 |
| Capital spending | −£30,000 | −£3,000 | −£33,000 | −£189,000 | −£56,000 | −£42,000 | −£55,000 | −£25,000 | −£48,000 | −£44,000 |
| Free cash flow | −£262,000 | −£3.1m | −£5.0m | £1.5m | £3.9m | £972,000 | −£2.4m | −£669,000 | −£672,000 | £429,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £5.0m | £5.1m | £4.3m | £4.7m | £5.6m | £7.5m | £6.0m | £6.7m |
| Gross profit | £3.8m | £3.6m | £3.4m | £3.9m | £4.5m | £6.0m | £4.8m | £4.6m |
| Operating income | −£640,000 | −£647,000 | −£904,000 | −£328,000 | −£839,000 | £536,000 | −£2.7m | −£787,000 |
| Net income | −£736,000 | −£668,000 | −£1.0m | −£665,000 | −£1.1m | −£197,000 | −£3.3m | −£425,000 |
| Diluted earnings per share | -0.02 | -0.01 | -0.02 | -0.02 | -0.03 | -0.01 | -0.10 | -0.01 |
| Cash from operations | — | — | — | −£1.0m | −£1.0m | −£1.0m | −£3.0m | — |
| Total assets | £11.3m | £11.3m | £11.7m | £13.0m | £14.0m | £14.2m | £14.3m | £15.1m |
| Cash and short-term investments | £582,000 | £1.1m | £428,000 | £1.3m | £3.4m | £3.2m | £1.9m | £8.3m |
| Debt | £239,000 | £873,000 | £1.5m | £1.9m | £2.4m | £2.6m | £10.2m | £18,000 |
| Shareholders' equity | £2.2m | £3.0m | £2.3m | £3.4m | £2.5m | £1.3m | £998,000 | £95,000 |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.3% | 6.9% | 6.4% |
| Operating income | 18.3% | 19.2% | 8.9% |
| Net income | 60.0% | 30.8% | 7.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 78.0% | 77.4% | 78.2% | 80.6% |
| Operating margin | -13.8% | -15.1% | -11.7% | -13.7% |
| Net margin | -17.5% | -16.1% | -11.7% | -13.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.8 | -8.8 | -5.1 | -86.7 | 87.6 | -47.5 | -2.3 | -5.4 | -58.2 | 23.5 |
| Price to sales | 1.4 | 1.5 | 1.3 | 2.8 | 3.9 | 3.1 | 1.3 | 1.3 | 2.2 | 0.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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