J 
430.00p
+1.78%
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
−£31.9m
FY2016FY2025
Net income
−£35.0m
FY2016FY2025
Free cash flow
−£2.4m
FY2016FY2025
Shareholders' equity
£230.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | −£31.9m | £29.3m | £15.6m | −£24.0m | £44.4m | £32.2m | £41.7m | −£9.1m | £10.5m | £51.2m |
| Research and development | — | — | £3 | £1 | £2 | £1 | £2 | — | — | — |
| Operating income | −£34.4m | £30.4m | £13.1m | −£24.0m | £44.5m | £32.3m | £42.0m | −£9.2m | £10.4m | £51.0m |
| Net income | −£35.0m | £28.2m | £11.8m | −£25.0m | £43.5m | £31.4m | £40.8m | −£10.0m | £9.7m | £50.4m |
| Diluted earnings per share | -0.65 | 0.47 | 0.18 | -0.39 | 0.67 | 0.54 | 0.71 | -0.17 | 0.17 | 0.92 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £256.6m | £318.1m | £303.5m | £298.8m | £325.7m | £257.8m | £213.5m | £174.6m | £181.6m | £170.3m |
| Cash and short-term investments | £3.7m | £1.3m | £19.2m | £6.7m | £3.1m | £6.0m | £10,000 | £18,000 | £5.9m | £9.4m |
| Total liabilities | £26.4m | £24.3m | £23.8m | £25.7m | £24.0m | £21.0m | £15.3m | £15.8m | £14.9m | £16.4m |
| Debt | £26.0m | £24.0m | £23.5m | £24.9m | £22.1m | £18.3m | £15.1m | £15.7m | £14.8m | £16.2m |
| Shareholders' equity | £230.2m | £293.8m | £279.7m | £273.1m | £301.8m | £236.8m | £198.3m | £158.8m | £166.7m | £153.8m |
| Shares outstanding | 54m | 61m | 64m | 65m | 65m | 59m | 57m | 57m | 56m | 55m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£1.2m | £733,000 | £1.3m | −£298,000 | −£176,000 | £174,000 | −£128,000 | −£567,000 | −£110,000 | −£239,000 |
| Capital spending | −£1.2m | — | — | — | — | — | — | — | — | — |
| Free cash flow | −£2.4m | £733,000 | £1.3m | −£298,000 | −£176,000 | £174,000 | −£128,000 | −£567,000 | −£110,000 | −£239,000 |
| Dividends paid | −£1.8m | −£1.9m | −£1.6m | −£1.6m | −£1.6m | −£1.5m | −£1.4m | −£1.4m | −£1.4m | −£1.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £38.9m | £4.9m | −£36.8m | £29.4m | £3.6m | £13.5m | £6.7m | £2.1m |
| Operating income | £37.8m | £3.6m | −£38.1m | £28.0m | £2.3m | £12.2m | £6.1m | £896,000 |
| Net income | £36.7m | £2.5m | −£37.5m | £26.9m | £1.4m | £10.9m | £5.5m | £878,000 |
| Diluted earnings per share | 0.70 | 0.05 | -0.70 | 0.44 | 0.02 | 0.17 | 0.08 | 0.01 |
| Cash from operations | £1.0m | −£2.0m | £1.0m | — | — | — | — | — |
| Capital spending | — | −£2.0m | — | — | — | — | — | — |
| Free cash flow | — | −£4.0m | — | — | — | — | — | — |
| Total assets | £282.2m | £256.6m | £273.6m | £318.1m | £287.7m | £303.5m | £303.5m | £296.7m |
| Cash and short-term investments | £5.8m | £3.7m | £368,000 | £1.3m | £7.3m | £19.2m | £19.2m | £6.8m |
| Debt | — | £26.0m | — | £24.0m | £15.8m | £23.5m | £23.5m | £23.6m |
| Shareholders' equity | £252.2m | £230.2m | £245.3m | £293.8m | £271.3m | £279.7m | £279.7m | £271.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.9% | — | — |
| Operating income | 12.8% | — | — |
| Net income | 11.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 156.8% | 136.3% | 94.1% | 97.4% |
| Net margin | 262.9% | 182.7% | 83.6% | 91.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.1 | 10.2 | 22.1 | -10.1 | 7.0 | 7.5 | 5.0 | -15.3 | 17.6 | 3.1 |
| Price to sales | -6.8 | 9.8 | 16.6 | -10.6 | 6.9 | 7.3 | 4.8 | -16.8 | 16.3 | 3.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 8 years. Last went ex-dividend on 11 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.032 | 0.031 | 0.03 | 0.025 | 0.025 | 0.025 | 0.025 | 0.025 |
- 10-for-1 split · 6 Mar 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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