I 
48.50p
-2.02%
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 USD, from our data supplier.
Revenue
$67.9m
FY2016FY2025
Net income
$8.0m
FY2016FY2025
Free cash flow
$2.5m
FY2016FY2025
Shareholders' equity
$55.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $67.9m | $54.5m | $50.0m | $42.2m | $39.0m | $29.7m | $29.2m | $24.0m | $20.8m | $22.5m |
| Research and development | $192,965 | — | $237,000 | $237,000 | $241,000 | $279,000 | $265,827 | $243,533 | $235,380 | $157,872 |
| Operating income | $8.9m | $5.0m | $8.6m | $9.6m | $5.2m | $2.9m | $3.0m | $1.1m | −$7.0m | −$1.7m |
| Net income | $8.0m | $2.9m | $6.6m | $7.9m | $9.2m | $1.3m | $552,425 | −$1.1m | −$9.7m | −$3.7m |
| Diluted earnings per share | 0.04 | 0.02 | 0.03 | 0.04 | 0.05 | 0.01 | 0.00 | -0.01 | -0.08 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $79.2m | $63.8m | $60.5m | $52.7m | $44.4m | $39.8m | $43.7m | $36.1m | $36.8m | $40.6m |
| Cash and short-term investments | $11.7m | $6.9m | $6.5m | $5.9m | $5.3m | $4.4m | $9.6m | $4.5m | $3.4m | $2.8m |
| Total liabilities | $23.5m | $16.0m | $15.8m | $14.7m | $14.5m | $19.2m | $24.5m | $30.2m | $29.8m | $23.9m |
| Debt | $6.7m | $4.3m | $5.8m | $7.2m | $8.7m | $12.6m | $18.5m | $24.8m | $21.8m | $16.0m |
| Shareholders' equity | $55.7m | $47.8m | $44.8m | $38.0m | $30.0m | $20.7m | $19.2m | $5.9m | $7.0m | $16.7m |
| Shares outstanding | 196m | 194m | 196m | 196m | 193m | 192m | 231m | 128m | 128m | 128m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $11.1m | $11.5m | $8.6m | $5.6m | $7.9m | $3.8m | $3.4m | $2.0m | −$264,345 | $451,205 |
| Capital spending | −$8.6m | −$9.5m | −$6.2m | −$3.1m | −$1.5m | −$2.4m | −$1.7m | −$908,056 | −$2.1m | −$669,735 |
| Free cash flow | $2.5m | $2.0m | $2.3m | $2.5m | $6.4m | $1.3m | $1.7m | $1.1m | −$2.3m | −$218,530 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $30.7m | $37.5m | $29.2m | $28.5m | $26.0m | $25.7m | $24.3m | $23.0m |
| Operating income | $4.8m | $7.0m | $5.3m | $3.8m | $1.1m | $3.7m | $4.9m | $6.9m |
| Net income | $3.4m | $5.4m | $2.5m | $2.3m | $607,000 | $3.0m | $3.6m | $5.9m |
| Diluted earnings per share | 0.02 | 0.03 | 0.01 | 0.01 | 0.00 | 0.02 | 0.02 | 0.03 |
| Cash from operations | $7.0m | $9.0m | $1.0m | $6.0m | $4.0m | $3.0m | $4.0m | $4.0m |
| Capital spending | −$5.0m | −$2.0m | −$5.0m | −$4.0m | −$4.0m | −$2.0m | −$3.0m | −$2.0m |
| Free cash flow | $2.0m | $7.0m | −$4.0m | $2.0m | $0 | $1.0m | $1.0m | $2.0m |
| Total assets | $84.1m | $79.2m | $70.2m | $63.8m | $59.9m | $60.5m | $57.1m | $52.7m |
| Cash and short-term investments | $13.0m | $11.7m | $6.4m | $6.9m | $5.7m | $6.5m | $6.3m | $5.9m |
| Debt | $2.1m | $6.6m | $7.4m | $4.1m | $4.8m | $5.5m | $6.2m | $6.9m |
| Shareholders' equity | $59.5m | $55.7m | $50.3m | $47.8m | $45.5m | $44.8m | $41.6m | $38.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.2% | 18.0% | 12.8% |
| Operating income | -2.8% | 24.8% | 28.2% |
| Net income | 0.7% | 44.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 11.3% | 14.9% | 14.2% | 9.1% |
| Net margin | 8.9% | 11.8% | 12.7% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 8.6 | 17.0 | 10.3 | 6.8 | 5.1 | 26.2 | 158.8 | -10.8 | -1.7 | -3.0 |
| Price to sales | 1.0 | 0.9 | 1.4 | 1.3 | 1.2 | 1.1 | 3.0 | 0.5 | 0.8 | 0.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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