E 
411.00p
+1.61%
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
£166.0m
FY2016FY2025
Net income
£27.2m
FY2016FY2025
Free cash flow
£44.2m
FY2016FY2025
Shareholders' equity
£291.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £166.0m | £166.6m | £159.1m | £142.3m | £90.5m | £83.0m | £61.8m | £43.2m | £29.6m | £13.5m |
| Gross profit | £60.4m | £74.1m | £69.6m | £69.6m | £45.5m | £39.1m | £29.5m | £19.8m | £16.9m | £7.9m |
| Research and development | — | £13.5m | £23.8m | £9.3m | £5.3m | £4.0m | £3.1m | £4.3m | £1.4m | £1.0m |
| Operating income | £34.5m | £23.9m | £42,000 | £32.3m | £29.2m | £26.2m | £19.0m | £9.9m | £8.9m | £4.0m |
| Net income | £27.2m | £20.2m | −£3.7m | £23.5m | £23.7m | £21.9m | £16.6m | £7.2m | £4.4m | £2.1m |
| Diluted earnings per share | 0.19 | 0.14 | -0.03 | 0.16 | 0.18 | 0.17 | 0.13 | 0.06 | 0.04 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £332.9m | £310.6m | £297.7m | £327.7m | £158.6m | £124.2m | £96.5m | £73.9m | £60.0m | £56.3m |
| Cash and short-term investments | £51.9m | £62.9m | £42.8m | £50.8m | £55.3m | £61.5m | £41.9m | £23.5m | £8.4m | £7.3m |
| Total liabilities | £42.0m | £48.1m | £50.9m | £75.3m | £31.0m | £20.9m | £16.4m | £11.3m | £52.6m | £55.0m |
| Debt | £2.1m | £2.9m | £3.6m | £3.0m | £2.3m | £1.5m | £1.6m | — | £42.8m | £47.5m |
| Shareholders' equity | £291.0m | £262.6m | £246.8m | £252.5m | £127.6m | £103.3m | £80.1m | £62.6m | £7.4m | £1.3m |
| Shares outstanding | 145m | 144m | 144m | 148m | 131m | 132m | 129m | 129m | 100m | 144m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £44.6m | £51.3m | £41.4m | £49.4m | £31.0m | £28.3m | £22.6m | £16.2m | £11.7m | £4.5m |
| Capital spending | −£465,000 | −£323,000 | −£477,000 | −£723,000 | −£573,000 | −£338,000 | −£1.3m | −£327,000 | −£453,000 | −£214,000 |
| Free cash flow | £44.2m | £51.0m | £40.9m | £48.7m | £30.4m | £28.0m | £21.3m | £15.9m | £11.3m | £4.2m |
| Dividends paid | −£5.3m | — | — | — | — | — | — | — | — | −£2.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £66.9m | £93.6m | £72.4m | £36.2m | £86.0m | £43.0m | £80.6m | £40.3m |
| Gross profit | £15.4m | £33.6m | £33.7m | £16.8m | £41.2m | £20.6m | £32.9m | £16.5m |
| Operating income | £7.8m | £15.8m | £13.4m | £6.7m | £11.8m | £5.9m | £12.2m | £6.1m |
| Net income | −£583,000 | £16.6m | £10.6m | £5.3m | £11.2m | £5.6m | £9.0m | £4.5m |
| Diluted earnings per share | -0.00 | 0.11 | 0.07 | 0.04 | 0.08 | 0.04 | 0.06 | 0.03 |
| Cash from operations | £24.0m | £25.0m | £37.0m | £9.0m | £23.0m | £11.0m | £28.0m | £14.0m |
| Total assets | £322.5m | £332.9m | £313.3m | £313.3m | £310.6m | £310.6m | £297.5m | £297.5m |
| Cash and short-term investments | £57.1m | £51.9m | £59.4m | £59.4m | £62.9m | £62.9m | £54.3m | £54.3m |
| Debt | £769,000 | £651,000 | £765,000 | £765,000 | £692,000 | £692,000 | £743,000 | £743,000 |
| Shareholders' equity | £286.6m | £291.0m | £276.7m | £276.7m | £262.6m | £262.6m | £253.6m | £253.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.3% | 14.9% | 31.9% |
| Operating income | 2.2% | 5.7% | 24.4% |
| Net income | 5.1% | 4.4% | 24.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.4% | 43.2% | 44.4% | 45.3% |
| Operating margin | 17.6% | 14.3% | 18.1% | 19.9% |
| Net margin | 14.3% | 10.6% | 14.0% | 15.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.8 | 15.7 | -71.1 | 15.9 | 24.6 | 27.3 | 16.7 | 20.1 |
| Price to sales | 2.9 | 1.9 | 1.7 | 2.6 | 6.5 | 7.2 | 4.5 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 1 years. Last went ex-dividend on 11 Sept 2025.
| FY2025 | |
|---|---|
| Paid in the year | 0.037 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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