N 
64.40p
+0.63%
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
£48.7m
FY2016FY2025
Net income
£7.0m
FY2016FY2025
Free cash flow
£15.6m
FY2016FY2025
Shareholders' equity
£73.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £48.7m | £41.8m | £36.8m | £31.3m | £27.9m | £23.9m | £34.6m | £48.3m | £46.3m | £23.1m |
| Research and development | £2.6m | £2.5m | £2.3m | £3.2m | £4.6m | £6.8m | £51.1m | £10.8m | £58.4m | £17.3m |
| Operating income | £10.7m | £7.7m | £4.6m | £1.8m | −£4.3m | −£17.3m | −£63.8m | −£40.4m | −£82.2m | −£43.8m |
| Net income | £7.0m | £3.7m | £10.7m | £16.1m | £3.6m | −£33.5m | −£48.3m | −£117.1m | −£99.1m | −£137.3m |
| Diluted earnings per share | 0.02 | 0.01 | 0.02 | 0.04 | 0.01 | -0.08 | -0.13 | -0.33 | -0.30 | -0.48 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £76.2m | £68.4m | £91.5m | £98.5m | £86.4m | £103.1m | £246.8m | £307.4m | £402.4m | £334.1m |
| Cash and short-term investments | £19.9m | £10.9m | £19.9m | £19.4m | £12.6m | £7.4m | £27.0m | £40.7m | £59.5m | £117.4m |
| Total liabilities | £8.6m | £8.9m | £7.7m | £16.6m | £19.6m | £37.0m | £162.0m | £124.4m | £30.8m | £21.5m |
| Debt | £1.0m | £1.5m | £1.1m | £1.0m | £1.3m | £1.6m | £111.4m | — | — | — |
| Shareholders' equity | £73.7m | £59.5m | £83.8m | £81.9m | £66.8m | £66.1m | £84.8m | £125.9m | £224.8m | £280.7m |
| Shares outstanding | 423m | 398m | 449m | 442m | 463m | 415m | 375m | 355m | 333m | 285m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £15.8m | £17.2m | £11.6m | £6.7m | £1.4m | −£23.9m | −£25.1m | −£40.6m | −£57.6m | −£56.7m |
| Capital spending | −£200,000 | −£1.0m | −£300,000 | −£100,000 | −£200,000 | −£500,000 | −£300,000 | −£100,000 | −£800,000 | −£700,000 |
| Free cash flow | £15.6m | £16.2m | £11.3m | £6.6m | £1.2m | −£24.4m | −£25.4m | −£40.7m | −£58.4m | −£57.4m |
| Dividends paid | −£5.0m | −£4.2m | −£10.5m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £24.0m | £23.5m | £25.2m | £20.8m | £21.0m | £10.5m | £18.0m | £9.0m |
| Operating income | £5.5m | £4.9m | £5.8m | £3.5m | £4.2m | £2.1m | £1.6m | £800,000 |
| Net income | £5.9m | £1.1m | £5.9m | −£700,000 | £4.4m | £2.2m | £6.6m | £3.3m |
| Diluted earnings per share | 0.01 | 0.00 | 0.01 | -0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| Cash from operations | £3.0m | £8.0m | £7.0m | £11.0m | £6.0m | £2.0m | £7.0m | £3.0m |
| Total assets | £73.1m | £76.2m | £71.0m | £68.4m | £87.5m | £87.5m | £91.5m | £91.5m |
| Cash and short-term investments | £16.8m | £19.9m | £11.8m | £10.9m | £21.5m | £21.5m | £19.9m | £19.9m |
| Debt | £500,000 | £500,000 | £600,000 | £700,000 | £600,000 | £600,000 | £1.2m | £600,000 |
| Shareholders' equity | £66.1m | £73.7m | £64.4m | £59.5m | £81.8m | £81.8m | £83.8m | £83.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.9% | 15.3% | 16.3% |
| Operating income | 81.1% | — | — |
| Net income | -24.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 20.3% | 15.6% | 1.5% | -78.6% |
| Net margin | 11.8% | 23.6% | 3.6% | -118.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 40.2 | 67.8 | 28.1 | 10.0 | 52.2 | -3.5 | -1.5 | -1.5 | -3.5 | -1.9 |
| Price to sales | 5.8 | 6.0 | 8.2 | 5.2 | 6.7 | 4.9 | 2.1 | 3.5 | 7.5 | 11.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 21 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Paid in the year | 0.016 | 0.013 | 0.01 | 0.025 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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