M 
14.70p
-1.34%
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
$212.8m
FY2016FY2025
Net income
$29.5m
FY2016FY2025
Free cash flow
$29.8m
FY2016FY2025
Shareholders' equity
$252.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $212.8m | $191.1m | $166.7m | $124.4m | $129.8m | $122.1m | $94.3m | $61.4m | $34.7m | $5.8m |
| Gross profit | $74.6m | $62.5m | $37.3m | $32.7m | $37.9m | $38.8m | $18.5m | −$8.5m | — | — |
| Operating income | $47.1m | $53.5m | $29.2m | $23.8m | $29.4m | $30.5m | $9.0m | −$18.8m | −$7.0m | −$8.8m |
| Net income | $29.5m | $25.6m | $119.2m | $8.8m | $11.3m | $9.4m | $13.7m | −$176.4m | −$13.4m | −$18.1m |
| Diluted earnings per share | 0.01 | 0.01 | 0.06 | 0.00 | 0.00 | 0.00 | 0.01 | -0.09 | -0.01 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $323.3m | $174.3m | $181.5m | $120.6m | $129.6m | $144.2m | $129.3m | $98.6m | $194.7m | $214.5m |
| Cash and short-term investments | $41.2m | $4.0m | $339,997 | $861,069 | $4.7m | $8.9m | $4.8m | $1.5m | $547,456 | $6.0m |
| Total liabilities | $70.4m | $40.7m | $47.5m | $102.8m | $120.1m | $145.3m | $143.1m | $129.1m | $83.2m | $81.1m |
| Debt | — | $6.9m | $23.9m | $82.0m | $102.7m | $127.4m | $124.1m | $103.2m | $68.9m | $71.2m |
| Shareholders' equity | $252.8m | $133.2m | $133.9m | $17.8m | $9.5m | −$1.1m | −$13.8m | −$30.5m | $110.0m | $133.4m |
| Shares outstanding | 2,941m | 1,728m | 2,098m | 2,089m | 2,290m | 2,098m | 2,090m | 2,071m | 2,071m | 1,779m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $111.1m | $85.5m | $74.6m | $38.2m | $46.5m | $28.8m | $13.7m | −$6.1m | −$6.1m | −$8.7m |
| Capital spending | −$81.3m | −$6.1m | −$10.3m | −$8.2m | −$11.9m | −$12.8m | −$11.4m | −$6.7m | −$2.9m | −$22.7m |
| Free cash flow | $29.8m | $79.4m | $64.3m | $30.0m | $34.6m | $16.0m | $2.3m | −$12.8m | −$9.1m | −$31.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $98.0m | $89.9m | $125.8m | $100.0m | $91.2m | $77.8m | $92.0m | $69.9m |
| Gross profit | $36.7m | $37.6m | $37.7m | $64.4m | $17.7m | $1.4m | $36.8m | $18.4m |
| Operating income | $27.4m | $32.6m | $13.7m | $28.6m | $9.4m | −$2.0m | $31.9m | $15.1m |
| Net income | $21.7m | $12.4m | $17.5m | −$31.9m | $58.5m | $83.0m | $38.0m | $8.3m |
| Diluted earnings per share | 0.01 | 0.00 | 0.01 | -0.02 | 0.03 | 0.04 | 0.02 | 0.00 |
| Cash from operations | $37.0m | $47.0m | $63.0m | $43.0m | $37.0m | $34.0m | $40.0m | $23.0m |
| Capital spending | −$70.0m | −$59.0m | −$21.0m | −$3.0m | −$2.0m | −$5.0m | −$5.0m | −$4.0m |
| Free cash flow | −$33.0m | −$12.0m | $42.0m | $40.0m | $35.0m | $29.0m | $35.0m | $19.0m |
| Total assets | $344.4m | $323.3m | $272.9m | $174.3m | $213.2m | $181.5m | $125.2m | $120.6m |
| Cash and short-term investments | $9.0m | $41.2m | $45.9m | $4.0m | $6.6m | $339,997 | $490,207 | $861,069 |
| Debt | — | — | — | $6.9m | — | $23.9m | $49.3m | $82.0m |
| Shareholders' equity | $280.0m | $252.8m | $234.8m | $133.2m | $191.7m | $133.9m | $54.2m | $17.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 19.6% | 11.7% | — |
| Operating income | 25.5% | 9.1% | — |
| Net income | 49.9% | 25.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 33.9% | 29.8% | 30.0% | — |
| Operating margin | 24.9% | 22.1% | 22.5% | — |
| Net margin | 13.6% | 26.3% | 21.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 20.1 | 4.8 | 0.6 | 4.1 | 4.1 | 4.9 | 2.5 | -0.1 | -3.3 | -2.8 |
| Price to sales | 2.8 | 0.6 | 0.5 | 0.3 | 0.4 | 0.4 | 0.4 | 0.2 | 1.3 | 8.8 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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