M 
0.20p
-18.03%
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
£22.4m
FY2017FY2026
Net income
−£5.0m
FY2017FY2026
Free cash flow
−£1.4m
FY2017FY2026
Shareholders' equity
−£10.9m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £22.4m | £38.9m | £56.2m | £73.1m | £82.5m | £85.8m | £164.7m | £199.8m | £580.6m | £667.4m |
| Gross profit | £9.6m | £14.8m | £19.6m | £20.9m | £27.6m | £22.5m | £36.2m | £51.9m | £54.2m | £107.1m |
| Operating income | −£500,000 | £16.0m | £6.7m | £6.0m | £13.0m | −£3.2m | −£1.2m | £13.3m | −£65.4m | £19.0m |
| Net income | −£5.0m | £6.2m | £3.3m | −£100,000 | £12.1m | −£21.5m | −£8.5m | −£21.1m | −£93.0m | £8.2m |
| Diluted earnings per share | -0.01 | 0.01 | 0.01 | -0.00 | 0.02 | -0.04 | -0.02 | -0.06 | -0.40 | 0.05 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £25.1m | £28.7m | £22.4m | £30.6m | £36.8m | £35.6m | £91.4m | £175.0m | £276.7m | £347.8m |
| Cash and short-term investments | £2.8m | £4.3m | £5.0m | £7.1m | £9.2m | £6.9m | £6.1m | £16.3m | £1 | £1 |
| Total liabilities | £36.0m | £38.1m | £52.5m | £32.4m | £35.3m | £78.6m | £95.4m | £229.2m | £272.1m | £266.4m |
| Debt | £9.2m | £8.8m | £19.9m | £20.0m | £20.2m | £20.4m | £49.2m | £23.2m | £44.1m | £15.9m |
| Shareholders' equity | −£10.9m | −£9.4m | −£30.1m | −£1.8m | £1.5m | −£43.0m | −£4.0m | −£54.2m | £4.6m | £81.4m |
| Shares outstanding | 569m | 564m | 564m | 571m | 564m | 593m | 373m | 345m | 232m | 170m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£700,000 | −£1.5m | £4.8m | £1.5m | £5.6m | −£4.0m | £500,000 | £1.4m | £1.3m | £15.3m |
| Capital spending | −£700,000 | — | −£2.3m | −£2.3m | −£2.9m | −£400,000 | −£400,000 | −£6.4m | −£15.6m | −£28.2m |
| Free cash flow | −£1.4m | −£1.5m | £2.5m | −£800,000 | £2.7m | −£4.4m | £100,000 | −£5.0m | −£14.3m | −£12.9m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £10.8m | £11.6m | £17.9m | £21.0m | £27.2m | £29.0m | £34.6m | £17.3m |
| Gross profit | £4.6m | £5.0m | £6.2m | £8.0m | £9.6m | £10.0m | £9.9m | £5.0m |
| Operating income | £100,000 | −£600,000 | £300,000 | £700,000 | £2.9m | £3.6m | £3.3m | £1.8m |
| Net income | −£3.3m | −£1.7m | £8.0m | −£1.8m | £1.6m | £1.7m | −£500,000 | −£250,000 |
| Diluted earnings per share | -0.01 | -0.00 | 0.01 | -0.00 | 0.00 | 0.00 | -0.00 | -0.00 |
| Cash from operations | — | −£1.0m | −£1.0m | −£1.0m | £2.0m | — | £1.0m | £1.0m |
| Capital spending | — | — | — | — | −£1.0m | — | −£1.0m | — |
| Free cash flow | — | — | — | — | £1.0m | — | £0 | — |
| Total assets | £25.1m | £26.3m | £28.7m | £22.2m | £22.4m | £20.9m | £30.6m | £30.6m |
| Cash and short-term investments | £2.8m | £3.0m | £4.3m | £2.8m | £5.0m | £4.2m | £7.1m | £7.1m |
| Debt | £8.7m | £8.7m | £100,000 | £19.9m | £19.7m | £20.0m | £19.8m | — |
| Shareholders' equity | −£10.9m | −£10.1m | −£9.4m | −£29.0m | −£30.1m | −£13.3m | −£1.8m | −£106.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -32.6% | -23.6% | -28.9% |
| Operating income | — | -31.0% | — |
| Net income | 268.4% | -25.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 39.8% | 34.1% | 32.0% | 17.7% |
| Operating margin | 25.3% | 14.8% | 10.6% | 0.9% |
| Net margin | 2.0% | 2.3% | -1.4% | -4.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.2 | 0.9 | 3.0 | -158.5 | 1.4 | -2.2 | -2.0 | -1.1 | -0.2 | 4.6 |
| Price to sales | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | 0.6 | 0.1 | 0.1 | 0.0 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Jan 2012.
| FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.001 | 0.001 | 0.00 | 0.00 | 0.001 | 0.001 | 0.001 | 0.00 |
- 2.809-to-1 reverse split · 18 Aug 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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