F 
16.00p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£8.7m
FY2017FY2026
Net income
£2.7m
FY2017FY2026
Free cash flow
£187,000
FY2017FY2026
Shareholders' equity
£48.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £8.7m | £7.6m | £7.9m | £7.2m | £8.6m | £12.1m | £16.3m | £20.4m | £25.5m | £23.7m |
| Gross profit | £5.0m | £4.8m | £5.0m | £5.0m | £5.7m | £8.0m | £12.3m | £15.9m | £19.4m | £18.6m |
| Operating income | £1.3m | £507,000 | −£189,000 | £2.0m | £6.1m | −£5.1m | £5.2m | £8.5m | £11.2m | £11.6m |
| Net income | £2.7m | £2.1m | −£4.6m | £1.9m | £6.8m | −£7.4m | £4.9m | £5.5m | £6.8m | £7.8m |
| Diluted earnings per share | 0.02 | 0.01 | -0.04 | 0.02 | 0.06 | -0.07 | 0.04 | 0.05 | 0.06 | 0.07 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £69.9m | £78.7m | £75.8m | £83.5m | £77.0m | £81.3m | £124.7m | £122.7m | £184.1m | £176.5m |
| Cash and short-term investments | £7.0m | £4.8m | £4.6m | £7.6m | £6.4m | £16.2m | £7.3m | £9.7m | £15.3m | £15.9m |
| Total liabilities | £19.2m | £31.4m | £34.9m | £38.0m | £34.0m | £44.3m | £76.4m | £76.5m | £131.2m | £133.1m |
| Debt | £9.1m | £9.4m | £10.6m | £13.4m | £15.0m | £35.8m | £65.1m | £66.7m | £119.1m | £119.7m |
| Shareholders' equity | £48.2m | £45.1m | £39.0m | £43.4m | £42.8m | £36.8m | £48.0m | £46.2m | £46.7m | £40.4m |
| Shares outstanding | 149m | 148m | 114m | 111m | 111m | 113m | 110m | 113m | 114m | 119m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £199,000 | £856,000 | £398,000 | £4.9m | −£1.4m | £38.7m | £5.3m | £6.7m | £9.8m | £13.6m |
| Capital spending | −£12,000 | −£1.4m | −£1.7m | −£1.0m | −£1.7m | −£294,000 | −£1.3m | −£36,000 | −£19,000 | −£26,000 |
| Free cash flow | £187,000 | −£582,000 | −£1.3m | £3.9m | −£3.1m | £38.4m | £4.0m | £6.7m | £9.8m | £13.6m |
| Dividends paid | — | — | — | −£831,000 | −£276,000 | −£1.8m | −£1.9m | −£1.8m | −£1.8m | −£1.8m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £5.1m | £3.6m | £3.6m | £3.9m | £2.0m | £3.9m | £1.9m | £4.0m |
| Gross profit | £2.8m | £2.2m | £1.3m | £2.5m | £1.2m | £2.8m | £1.4m | £2.2m |
| Operating income | £715,000 | £589,000 | £834,000 | £97,000 | £48,500 | −£6,000 | −£3,000 | −£183,000 |
| Net income | £1.5m | £1.2m | £1.1m | £1.0m | £516,499 | −£3.5m | −£1.7m | −£1.1m |
| Diluted earnings per share | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | -0.03 | -0.02 | -0.01 |
| Cash from operations | — | — | — | — | — | — | £106.0m | — |
| Total assets | £69.9m | £68.4m | £78.7m | £76.2m | £76.2m | £75.8m | £75.8m | £81.6m |
| Cash and short-term investments | £7.0m | £3.3m | £4.8m | £5.9m | £5.9m | £4.6m | £4.6m | £6.7m |
| Debt | £9.1m | £9.4m | £9.4m | £9.8m | £5.2m | £10.6m | £884,000 | £12.5m |
| Shareholders' equity | £48.2m | £47.0m | £45.1m | £42.9m | £42.9m | £39.0m | £39.0m | £41.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.3% | -6.4% | -8.8% |
| Operating income | -13.3% | — | -18.2% |
| Net income | 11.8% | — | -6.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 60.3% | 63.0% | 64.2% | 73.5% |
| Operating margin | 11.1% | 11.6% | 8.9% | 31.8% |
| Net margin | 29.6% | 6.9% | 2.9% | 19.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.9 | 13.0 | -3.6 | 10.8 | 3.9 | -4.9 | 8.5 | 9.7 | 8.8 | 7.3 |
| Price to sales | 2.7 | 3.7 | 2.1 | 2.9 | 3.1 | 3.0 | 2.5 | 2.6 | 2.3 | 2.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Mar 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.007 | 0.003 | 0.017 | 0.017 | 0.016 | 0.016 | 0.015 | 0.015 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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