C 
5.76p
+1.95%
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
$12.1m
FY2016FY2025
Net income
−$7.3m
FY2016FY2025
Free cash flow
−$8.3m
FY2016FY2025
Shareholders' equity
$10.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.1m | $7.7m | $6.7m | $9.7m | $7.3m | $10.5m | $16.2m | $17.0m | $19.6m | $11.4m |
| Gross profit | $11.2m | $7.1m | $6.1m | $9.0m | $6.6m | $9.5m | $15.0m | $15.5m | $17.7m | $10.0m |
| Research and development | — | — | — | $3.9m | $11.2m | $8.8m | $8.5m | $8.9m | $6.6m | $8.1m |
| Operating income | −$4.9m | −$15.0m | −$32.4m | −$40.9m | −$39.8m | −$33.9m | −$27.2m | −$22.1m | −$9.7m | −$17.9m |
| Net income | −$7.3m | −$13.5m | −$36.5m | −$29.6m | −$37.6m | −$34.3m | −$28.3m | −$18.6m | −$13.5m | −$9.3m |
| Diluted earnings per share | -0.06 | -0.11 | -0.32 | -0.44 | -0.63 | -0.66 | -0.61 | -0.44 | -0.35 | -0.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $13.3m | $14.9m | $23.1m | $26.5m | $42.2m | $41.3m | $43.5m | $27.1m | $41.9m | $20.2m |
| Cash and short-term investments | $4.0m | $9.7m | $18.2m | $19.1m | $27.8m | $21.0m | $23.4m | $10.8m | $27.4m | $7.6m |
| Total liabilities | $3.1m | $5.3m | $6.5m | $8.6m | $7.8m | $12.1m | $13.4m | $13.3m | $24.4m | $16.4m |
| Debt | $467,168 | $889,000 | $795,000 | $539,000 | $1.8m | $2.9m | $5.1m | $4.1m | $4.3m | $383,000 |
| Shareholders' equity | $10.2m | $9.6m | $16.6m | $16.6m | $34.4m | $29.2m | $30.2m | $13.8m | $17.5m | $3.8m |
| Shares outstanding | 126m | 126m | 115m | 67m | 60m | 52m | 46m | 42m | 38m | 37m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$8.3m | −$14.8m | −$30.6m | −$27.5m | −$28.2m | −$18.7m | −$13.8m | −$11.3m | $1.7m | −$2.4m |
| Capital spending | −$89,843 | −$107,000 | −$76,000 | −$206,000 | −$5.8m | −$5.5m | −$5.9m | −$5.6m | −$7.1m | −$5.9m |
| Free cash flow | −$8.3m | −$14.9m | −$30.7m | −$27.7m | −$34.0m | −$24.2m | −$19.7m | −$16.9m | −$5.3m | −$8.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $938,122 | $8.9m | $3.2m | $4.2m | $2.1m | $3.4m | $1.7m | $3.8m |
| Gross profit | $902,833 | $8.1m | $2.9m | $3.8m | $2.0m | $3.2m | $1.6m | $3.1m |
| Operating income | −$5.5m | $64,316 | −$5.0m | −$4.9m | −$2.7m | −$9.6m | −$4.8m | −$13.0m |
| Net income | −$3.5m | $6.0m | −$13.1m | −$4.5m | −$2.3m | −$8.9m | −$4.4m | −$14.2m |
| Diluted earnings per share | -0.03 | 0.05 | -0.10 | -0.04 | -0.02 | -0.07 | -0.04 | -0.12 |
| Cash from operations | −$1.0m | −$4.0m | −$3.0m | −$5.0m | −$2.0m | −$9.0m | −$4.0m | −$14.0m |
| Total assets | $7.8m | $13.3m | $10.4m | $14.9m | $14.9m | $13.9m | $13.9m | $23.1m |
| Cash and short-term investments | $2.6m | $4.0m | $6.1m | $9.7m | $9.7m | $9.1m | $9.1m | $18.2m |
| Debt | $234,208 | $278,000 | $449,000 | $522,000 | $522,000 | $466,000 | $466,000 | $436,000 |
| Shareholders' equity | $5.7m | $10.2m | $5.4m | $9.6m | $9.6m | $8.1m | $8.1m | $16.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.8% | 2.8% | 1.0% |
| Operating income | -50.7% | -32.1% | -16.7% |
| Net income | -37.4% | -26.7% | -13.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 92.5% | 92.2% | 91.6% | 91.2% |
| Operating margin | -100.6% | -257.8% | -309.2% | -212.4% |
| Net margin | -104.9% | -240.0% | -293.9% | -199.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -4.2 | -2.9 | -3.0 | -28.2 | -9.0 | -9.5 |
| Price to sales | 2.5 | 5.1 | 16.4 | 86.1 | 46.1 | 31.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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