M 
110.50p
+0.91%
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
£1.1m
FY2017FY2026
Net income
−£104,000
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
£114.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £1.1m | −£12.5m | £17.5m | £10.1m | £23.9m | £2.8m | −£16.1m | −£2.5m | £20.0m | £24.4m |
| Research and development | — | — | — | £3 | £0 | £24 | £1 | £0 | £1 | £1 |
| Operating income | −£104,000 | −£13.9m | £15.8m | −£26.7m | −£10.2m | £67.5m | −£16.0m | −£2.4m | £20.0m | £24.5m |
| Net income | −£104,000 | −£13.9m | £15.1m | −£27.2m | −£10.9m | £66.9m | −£16.7m | −£3.0m | £19.4m | £23.8m |
| Diluted earnings per share | -0.00 | -0.11 | 0.09 | -0.16 | -0.06 | 0.40 | -0.10 | -0.02 | 0.12 | 0.14 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £126.1m | £164.6m | £219.6m | £212.0m | £247.1m | £273.3m | £210.7m | £236.5m | £247.7m | £232.2m |
| Cash and short-term investments | £6.3m | £4.7m | £14.6m | £10.9m | £10.3m | £10.0m | £12.1m | £6.7m | £13.5m | £14.3m |
| Total liabilities | £11.5m | £13.8m | £20.6m | £20.3m | £20.3m | £24.6m | £20.3m | £20.3m | £20.3m | £20.8m |
| Debt | £10.0m | £12.5m | £20.0m | £20.0m | £20.0m | £20.0m | £20.0m | £20.0m | £20.0m | £20.0m |
| Shareholders' equity | £114.6m | £150.8m | £199.1m | £191.6m | £226.8m | £248.7m | £190.4m | £216.2m | £227.3m | £211.4m |
| Shares outstanding | 126m | 126m | 167m | 167m | 167m | 167m | 167m | 167m | 167m | 167m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | — | — | — | — | — | — | — | — | — | £6.15bn |
| Capital spending | — | — | — | — | — | — | — | — | — | −£1.05bn |
| Free cash flow | — | — | — | — | — | — | — | — | — | £5.10bn |
| Dividends paid | — | — | — | — | — | — | — | — | — | −£2.27bn |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | −£10.3m | £11.5m | −£21.2m | £9.8m | £19.2m | £9.6m | −£1.7m | −£854,000 |
| Operating income | −£10.9m | £10.8m | −£22.1m | £8.8m | £18.4m | £9.2m | −£2.7m | −£1.3m |
| Net income | −£10.6m | £10.5m | −£22.4m | £8.5m | £18.0m | £9.0m | −£2.9m | −£1.5m |
| Diluted earnings per share | -0.08 | 0.08 | -0.18 | 0.05 | 0.11 | 0.05 | -0.02 | -0.01 |
| Total assets | £126.1m | £155.7m | £164.6m | £224.1m | £219.6m | £219.6m | £205.5m | £205.5m |
| Cash and short-term investments | £6.3m | £6.4m | £4.7m | £7.2m | £14.6m | £14.6m | £5.9m | £5.9m |
| Debt | — | £15.0m | £12.5m | £20.0m | £20.0m | £20.0m | — | — |
| Shareholders' equity | £114.6m | £140.3m | £150.8m | £203.5m | £199.1m | £199.1m | £184.9m | £184.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -51.6% | -16.5% | -14.7% |
| Operating income | -84.3% | — | — |
| Net income | -84.4% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 123.4% | -154.4% | 75.5% | 86.3% |
| Net margin | 123.4% | -162.0% | 69.6% | 78.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1344.9 | -9.2 | 11.7 | -6.4 | -18.9 | 4.2 | -14.6 | -80.3 | 9.1 | 8.3 |
| Price to sales | 123.0 | -10.2 | 10.1 | 17.3 | 8.6 | 100.6 | -15.1 | -98.9 | 8.8 | 8.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 30 years. Last went ex-dividend on 16 Apr 2026.
| FY2027 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.015 | 0.066 | 0.054 | 0.046 | 0.047 | 0.066 | 0.052 | 0.055 |
- 5-for-1 split · 20 Jul 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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