I 
11.00p
+7.32%
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
£5.0m
FY2015FY2024
Net income
−£22.8m
FY2015FY2024
Free cash flow
−£26.2m
FY2015FY2024
Shareholders' equity
£66.0m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £5.0m | £22.0m | £2.9m | £3.2m | £406,000 | £227,000 | £2.5m | £2.2m | £9.5m | £9.6m |
| Research and development | £2.4m | £1.9m | — | — | — | — | — | — | — | — |
| Operating income | −£23.8m | −£22.4m | −£18.9m | −£21.6m | −£11.5m | −£6.9m | −£12.3m | −£7.2m | −£4.9m | −£1.3m |
| Net income | −£22.8m | −£23.2m | −£18.5m | −£21.4m | −£24.3m | −£6.8m | −£12.7m | −£7.4m | −£4.8m | £596,100 |
| Diluted earnings per share | -0.07 | -0.13 | -0.16 | -0.23 | -0.40 | -0.36 | -0.87 | -0.58 | -0.52 | 0.10 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £76.0m | £42.0m | £53.1m | £66.6m | £50.1m | £15.4m | £19.1m | £23.9m | £16.5m | £19.0m |
| Cash and short-term investments | £35.0m | £5.0m | £5.1m | £26.4m | £22.0m | £1.2m | £3.3m | £6.6m | £2.3m | £2.5m |
| Total liabilities | £9.9m | £8.2m | £18.7m | £15.4m | £7.8m | £2.9m | £1.8m | £3.2m | £3.9m | £5.5m |
| Debt | £1.7m | £1.6m | £1.7m | £770,000 | £756,000 | £1.2m | — | — | — | — |
| Shareholders' equity | £66.0m | £34.0m | £34.4m | £51.2m | £42.4m | £12.6m | £17.3m | £20.7m | £12.6m | £13.6m |
| Shares outstanding | 343m | 179m | 119m | 91m | 61m | 19m | 15m | 13m | 9m | 6m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£24.9m | −£19.4m | −£21.9m | −£23.0m | −£10.9m | −£6.7m | −£11.5m | −£9.1m | −£5.5m | −£2.2m |
| Capital spending | −£1.3m | −£1.0m | −£708,000 | −£751,000 | −£358,000 | −£6,000 | −£382,000 | −£461,000 | −£62,900 | −£44,900 |
| Free cash flow | −£26.2m | −£20.4m | −£22.6m | −£23.7m | −£11.3m | −£6.7m | −£11.9m | −£9.5m | −£5.6m | −£2.2m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £256,000 | £3.4m | £1.6m | £7.2m | £14.8m | £7.4m | £1.5m | £1.4m |
| Operating income | −£10.9m | −£12.2m | −£11.4m | −£9.7m | −£13.0m | −£6.9m | −£8.2m | −£10.8m |
| Net income | −£10.0m | −£11.7m | −£11.1m | −£9.9m | −£13.0m | −£6.7m | −£7.0m | −£11.6m |
| Diluted earnings per share | -0.02 | -0.03 | -0.05 | -0.05 | -0.08 | -0.04 | -0.06 | -0.10 |
| Cash from operations | −£11.0m | −£12.0m | −£12.0m | −£7.0m | −£12.0m | — | −£11.0m | −£9.0m |
| Total assets | £68.3m | £76.0m | £87.1m | £42.0m | £55.5m | £55.5m | £53.1m | £57.5m |
| Cash and short-term investments | £18.8m | £35.4m | £49.2m | £5.0m | £12.9m | £12.9m | £5.1m | £16.1m |
| Debt | £1.8m | £1.1m | £1.1m | £830,000 | £670,000 | £670,000 | £969,000 | £582,000 |
| Shareholders' equity | £55.7m | £66.0m | £77.3m | £34.0m | £43.2m | £43.3m | £34.4m | £40.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.3% | 85.7% | — |
| Operating income | 3.3% | 28.0% | — |
| Net income | 2.2% | 27.2% | — |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.6 | -1.0 | -1.0 | -1.5 | -2.1 | -0.3 | -0.3 | -0.8 | -0.9 | 4.2 |
| Price to sales | 7.1 | 1.1 | 6.5 | 9.8 | 127.6 | 9.9 | 1.6 | 2.7 | 0.5 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 1-to-1 reverse split · 9 Jan 2025
- 50-to-1 reverse split · 2 Apr 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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