C 
35.00p
0.00%
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
£16.6m
FY2016FY2025
Net income
−£354,000
FY2016FY2025
Free cash flow
−£888,000
FY2016FY2025
Shareholders' equity
£10.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £16.6m | £14.8m | £31.9m | £24.9m | £25.3m | £25.4m | £28.3m | £21.2m | £34.6m | £35.8m |
| Gross profit | £6.4m | £3.7m | £8.9m | £5.3m | £5.9m | £5.3m | £9.2m | £7.2m | £9.7m | £9.5m |
| Research and development | — | — | — | — | £87,000 | £88,000 | — | £743,000 | £708,000 | £209,000 |
| Operating income | −£747,000 | −£2.4m | −£710,000 | −£3.7m | −£4.6m | −£21.0m | £412,000 | −£942,000 | −£1.1m | −£56,000 |
| Net income | −£354,000 | −£2.4m | −£679,000 | −£4.0m | −£4.2m | −£18.9m | −£1.6m | −£5.1m | −£1.1m | −£688,000 |
| Diluted earnings per share | -0.01 | -0.06 | -0.02 | -0.13 | -0.14 | -1.02 | -0.09 | -0.27 | -0.08 | -0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £17.5m | £24.4m | £26.9m | £27.6m | £30.9m | £35.1m | £54.7m | £60.8m | £63.8m | £63.2m |
| Cash and short-term investments | £2.1m | £116,000 | £945,000 | £1.8m | £3.2m | £3.4m | £2.2m | £6.1m | £4.8m | £6.1m |
| Total liabilities | £6.7m | £13.3m | £13.4m | £15.5m | £14.9m | £21.8m | £22.7m | £27.4m | £30.0m | £28.4m |
| Debt | £362,000 | £1.6m | £3.3m | £5.3m | £8.1m | £10.8m | £13.6m | £12.9m | £15.9m | £12.7m |
| Shareholders' equity | £10.8m | £11.2m | £13.6m | £12.1m | £16.0m | £13.3m | £32.1m | £33.4m | £33.8m | £34.8m |
| Shares outstanding | 39m | 41m | 39m | 31m | 31m | 19m | 19m | 19m | 14m | 14m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£586,000 | £630,000 | −£30,000 | £665,000 | −£6.6m | £1.7m | −£2.2m | −£159,000 | £211,000 | £4.7m |
| Capital spending | −£302,000 | −£440,000 | −£576,000 | −£536,000 | −£1.3m | −£2.1m | −£3.7m | −£1.5m | −£961,000 | −£883,000 |
| Free cash flow | −£888,000 | £190,000 | −£606,000 | £129,000 | −£7.9m | −£371,000 | −£5.9m | −£1.6m | −£750,000 | £3.8m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −£810,000 |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Oct 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £6.4m | £11.2m | £5.4m | −£211,000 | £6.5m | £18.2m | £13.8m | £15.4m |
| Gross profit | £2.1m | £5.4m | £959,000 | £493,000 | £1.5m | £5.2m | £3.7m | £3.2m |
| Operating income | −£1.0m | £1.8m | −£1.7m | −£969,000 | −£1.1m | £942,000 | −£516,000 | −£725,000 |
| Net income | −£1.1m | £1.9m | −£2.2m | −£1.2m | −£1.2m | £721,000 | −£1.4m | −£2.2m |
| Diluted earnings per share | -0.03 | 0.04 | -0.05 | -0.03 | -0.04 | 0.02 | -0.04 | -0.07 |
| Cash from operations | — | — | −£1.0m | — | — | £1.0m | −£1.0m | £1.0m |
| Total assets | £14.9m | £17.5m | £15.3m | £24.4m | £25.3m | £26.9m | £25.6m | £27.6m |
| Cash and short-term investments | £1.1m | £2.1m | £1.9m | £116,000 | £594,000 | £945,000 | £1.0m | £1.8m |
| Debt | £229,000 | £143,000 | £217,000 | £313,000 | £2.8m | £1.6m | £2.3m | £3.2m |
| Shareholders' equity | £9.7m | £10.8m | £9.0m | £11.2m | £12.4m | £13.6m | £12.8m | £12.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.7% | -8.2% | -11.1% |
| Operating income | -41.3% | -48.7% | — |
| Net income | -55.6% | -54.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.2% | 27.5% | 25.6% | 27.8% |
| Operating margin | -10.0% | -8.5% | -23.8% | -10.1% |
| Net margin | -8.9% | -8.5% | -22.0% | -12.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -44.8 | -6.6 | -17.6 | -2.9 | -2.6 | -0.6 | -7.4 | -1.9 | -10.9 | -18.4 |
| Price to sales | 1.0 | 1.1 | 0.4 | 0.5 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Feb 2016.
| FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.062 | 0.093 | 0.089 | 0.084 | 0.081 | 0.08 | 0.076 | 0.069 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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