I 
74.60p
+0.74%
Close of 9 Nov 2026, in pence
Search any instrument
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
£43.6m
FY2017FY2026
Net income
−£25.0m
FY2017FY2026
Free cash flow
−£26.1m
FY2017FY2026
Shareholders' equity
£240.1m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £43.6m | £26.0m | £16.5m | £5.2m | £5.6m | £4.3m | £3.3m | £4.6m | £3.3m | £2.4m |
| Research and development | — | — | £2.6m | £1.1m | £1.4m | £3.5m | £2.3m | £2.3m | £6.0m | £4.7m |
| Operating income | −£32.3m | −£54.5m | −£38.0m | −£100.8m | −£44.7m | −£26.7m | −£22.9m | −£9.3m | −£6.5m | −£3.5m |
| Net income | −£25.0m | −£45.5m | −£27.2m | −£101.2m | −£46.7m | −£27.7m | −£29.6m | −£9.5m | −£6.1m | −£3.8m |
| Diluted earnings per share | -0.04 | -0.07 | -0.04 | -0.16 | -0.08 | -0.05 | -0.06 | -0.03 | -0.02 | -0.02 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £371.7m | £342.0m | £381.8m | £402.3m | £458.2m | £229.1m | £83.2m | £44.7m | £44.4m | £19.7m |
| Cash and short-term investments | £215.6m | £207.0m | £230.3m | £283.3m | £366.2m | £176.1m | £41.0m | £5.2m | £20.4m | £1.6m |
| Total liabilities | £131.6m | £117.7m | £113.1m | £106.8m | £63.2m | £31.6m | £27.4m | £18.5m | £8.8m | £6.7m |
| Debt | £14.1m | £12.3m | £12.7m | £7.8m | £7.1m | £6.5m | £6.5m | £4.8m | £3.2m | — |
| Shareholders' equity | £240.1m | £224.3m | £268.7m | £295.5m | £395.0m | £197.4m | £55.7m | £26.2m | £35.6m | £13.1m |
| Shares outstanding | 690m | 617m | 617m | 617m | 614m | 551m | 476m | 331m | 287m | 251m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£16.6m | −£20.0m | −£50.6m | −£72.6m | −£37.9m | −£20.1m | −£11.9m | −£11.8m | −£8.0m | −£5.0m |
| Capital spending | −£9.5m | −£12.9m | −£14.5m | −£15.1m | −£11.2m | −£12.0m | −£10.7m | −£4.1m | −£8.6m | −£3.3m |
| Free cash flow | −£26.1m | −£32.9m | −£65.1m | −£87.7m | −£49.0m | −£32.0m | −£22.6m | −£15.9m | −£16.6m | −£8.3m |
Latest quarters
By quarter end
| Apr 2026 | Oct 2025 | Apr 2025 | Oct 2024 | Apr 2024 | Oct 2023 | Apr 2023 | Jan 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £25.6m | £18.0m | £10.5m | £15.5m | £7.6m | £8.9m | £3.2m | £1.6m |
| Operating income | −£14.3m | −£18.0m | −£23.9m | −£33.8m | −£14.4m | −£23.6m | −£50.9m | −£22.1m |
| Net income | −£10.8m | −£14.2m | −£16.7m | −£28.9m | −£9.0m | −£18.2m | −£44.7m | −£22.3m |
| Diluted earnings per share | -0.02 | -0.02 | -0.03 | -0.05 | -0.01 | -0.03 | -0.07 | -0.04 |
| Cash from operations | −£14.0m | −£1.0m | £11.0m | −£21.0m | −£23.0m | −£27.0m | −£27.0m | −£15.0m |
| Capital spending | −£4.0m | −£4.0m | −£5.0m | −£3.0m | −£6.0m | −£7.0m | −£7.0m | −£2.0m |
| Free cash flow | −£18.0m | −£5.0m | £6.0m | −£24.0m | −£29.0m | −£34.0m | −£34.0m | −£17.0m |
| Total assets | £371.7m | £340.2m | £342.0m | £354.8m | £381.8m | £403.1m | £402.3m | £402.3m |
| Cash and short-term investments | £215.6m | £197.8m | £207.0m | £203.1m | £230.3m | £253.7m | £283.3m | £282.6m |
| Debt | £1.1m | £1.3m | £837,000 | £804,000 | £678,000 | £646,000 | £943,000 | — |
| Shareholders' equity | £240.1m | £210.6m | £224.3m | £240.2m | £268.7m | £277.4m | £295.5m | −£245.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 102.9% | 59.1% | 36.6% |
| Operating income | -31.5% | 3.9% | 22.2% |
| Net income | -37.3% | -2.0% | 20.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -124.7% | -246.9% | -293.2% | -294.2% |
| Net margin | -101.2% | -217.6% | -269.7% | -279.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -20.6 | -8.4 | -8.1 | -3.6 | -12.1 | -78.4 | -83.2 | -24.9 | -11.0 | -25.4 |
| Price to sales | 11.8 | 14.8 | 13.4 | 70.1 | 100.0 | — | — | 51.3 | 20.4 | 39.7 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.