I 
17.50p
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
£47.5m
FY2017FY2026
Net income
−£1.0m
FY2017FY2026
Free cash flow
£6.3m
FY2017FY2026
Shareholders' equity
£15.7m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £47.5m | £38.3m | £37.6m | £41.2m | £41.0m | £37.0m | £17.8m | £15.5m | £15.5m | £14.3m |
| Gross profit | £20.1m | £16.4m | £17.9m | £17.6m | £20.2m | £17.1m | £8.1m | £7.0m | £6.8m | £6.4m |
| Research and development | £173,000 | £247,000 | £118,000 | £116,000 | £348,000 | £190,000 | £48,000 | £147,000 | £37,000 | £1,000 |
| Operating income | £520,000 | −£14.7m | −£4.9m | £1.5m | £4.8m | £4.6m | £1.6m | £1.2m | £1.2m | £954,000 |
| Net income | −£1.0m | −£15.0m | −£6.0m | £272,000 | £4.2m | £2.8m | £733,000 | £1.1m | £1.2m | £312,000 |
| Diluted earnings per share | -0.01 | -0.17 | -0.09 | 0.00 | 0.06 | 0.04 | 0.02 | 0.04 | 0.04 | 0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £35.7m | £41.1m | £49.0m | £54.9m | £50.1m | £43.2m | £16.5m | £8.2m | £7.5m | £6.4m |
| Cash and short-term investments | £1.2m | £733,000 | £609,000 | £2.3m | £9.3m | £10.7m | £4.5m | £2.5m | £2.1m | £2.2m |
| Total liabilities | £20.0m | £24.4m | £20.0m | £19.4m | £14.6m | £11.7m | £5.9m | £2.6m | £3.1m | £3.3m |
| Debt | £11.8m | £15.0m | £12.8m | £13.1m | £7.5m | £3.2m | £558,000 | £319,000 | £328,000 | £16,000 |
| Shareholders' equity | £15.7m | £16.6m | £29.0m | £35.5m | £35.5m | £31.6m | £10.5m | £5.5m | £4.4m | £3.1m |
| Shares outstanding | 90m | 90m | 69m | 68m | 68m | 69m | 34m | 31m | 31m | 31m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £6.9m | −£1.5m | £2.0m | −£3.5m | £3.5m | £4.7m | £1.5m | £848,000 | £952,000 | £564,000 |
| Capital spending | −£610,000 | −£2.0m | −£1.6m | −£8.3m | −£4.0m | −£920,000 | −£379,000 | −£101,000 | −£254,000 | −£313,000 |
| Free cash flow | £6.3m | −£3.5m | £380,000 | −£11.9m | −£436,000 | £3.8m | £1.1m | £747,000 | £698,000 | £251,000 |
| Dividends paid | — | — | −£420,000 | −£419,000 | −£412,000 | −£136,000 | −£136,000 | −£136,000 | −£136,000 | — |
Latest quarters
By quarter end
| Jul 2026 | Jan 2026 | Jul 2025 | Jan 2025 | Jul 2024 | Jan 2024 | Jul 2023 | Apr 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £22.0m | £23.6m | £24.0m | £21.2m | £17.0m | £17.3m | £20.4m | £10.2m |
| Gross profit | £9.2m | £9.7m | £11.1m | £9.0m | £7.4m | £8.0m | £9.9m | £4.9m |
| Operating income | £122,000 | −£580,000 | £233,000 | £88,000 | −£3.2m | −£5.1m | £556,000 | £278,000 |
| Net income | £170,000 | −£778,000 | −£262,000 | −£11.2m | −£3.8m | −£6.0m | −£56,000 | −£28,000 |
| Diluted earnings per share | 0.00 | -0.01 | -0.00 | -0.12 | -0.05 | -0.09 | -0.00 | -0.00 |
| Cash from operations | £2.0m | £3.0m | £3.0m | — | −£2.0m | −£1.0m | £3.0m | £1.0m |
| Capital spending | — | — | −£1.0m | −£1.0m | — | — | — | — |
| Free cash flow | — | — | £2.0m | — | — | — | — | — |
| Total assets | £36.9m | £35.7m | £36.7m | £41.1m | £51.5m | £49.0m | £53.1m | £53.1m |
| Cash and short-term investments | £533,000 | £1.2m | £620,000 | £733,000 | £2.2m | £609,000 | £1.9m | £1.9m |
| Debt | £6.2m | £6.7m | £1.5m | £9.6m | £9.6m | £7.4m | £4.8m | — |
| Shareholders' equity | £15.9m | £15.7m | £16.4m | £16.6m | £28.0m | £29.0m | £35.2m | £32.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.9% | 5.2% | 14.5% |
| Operating income | -29.6% | -35.3% | 0.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 42.5% | 43.7% | 45.1% | 45.0% |
| Operating margin | -16.5% | -10.7% | -3.4% | -0.9% |
| Net margin | -18.7% | -13.2% | -6.1% | -3.6% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.1 | -0.9 | -1.4 | 54.9 | 5.2 | 16.7 | 20.8 | 10.4 | 8.9 | 30.2 |
| Price to sales | 0.3 | 0.3 | 0.2 | 0.4 | 0.5 | 1.3 | 0.9 | 0.7 | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Nov 2023.
| FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|
| Paid in the year | 0.006 | 0.006 | 0.006 | 0.002 |
- 10-to-1 reverse split · 24 Jun 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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