O 
175.00p
+0.34%
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 GBP, from our data supplier.
Revenue
£121.4m
FY2016FY2025
Net income
£8.6m
FY2016FY2025
Free cash flow
—
FY2016FY2025
Shareholders' equity
£156.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £121.4m | £128.2m | £112.1m | £143.4m | £21.2m | £33.7m | £140.4m | £104.3m | £83.6m | £71.3m |
| Research and development | — | — | £2.0m | £2.4m | £2.4m | £2.4m | £2.4m | £2.2m | £2.2m | £2.3m |
| Operating income | £24.2m | £21.2m | £17.7m | £2.7m | −£34.2m | −£39.6m | £21.2m | £27.7m | £23.9m | £16.8m |
| Net income | £8.6m | £13.0m | £10.1m | £1.6m | −£30.2m | −£38.8m | £15.7m | £21.5m | £18.0m | £14.3m |
| Diluted earnings per share | 0.05 | 0.08 | 0.06 | 0.01 | -0.19 | -0.25 | 0.12 | 0.16 | 0.14 | 0.22 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £502.1m | £495.9m | £435.2m | £346.9m | £276.7m | £265.8m | £289.9m | £252.0m | £202.0m | £148.7m |
| Cash and short-term investments | £234.1m | £96.2m | £75.8m | £64.5m | £56.0m | £62.3m | £54.8m | £47.3m | £71.6m | £51.6m |
| Total liabilities | £345.3m | £313.4m | £267.0m | £190.1m | £126.8m | £113.4m | £160.7m | £134.4m | £105.4m | £66.5m |
| Debt | £2.2m | £2.8m | £4.5m | £3.9m | £2.9m | £4.2m | £4.5m | £4.5m | — | — |
| Shareholders' equity | £156.8m | £182.5m | £168.2m | £156.8m | £149.9m | £152.4m | £129.2m | £117.6m | £96.6m | £82.1m |
| Shares outstanding | 163m | 170m | 167m | 166m | 162m | 157m | 131m | 131m | 130m | 66m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £43.4m | £26.9m | £22.0m | £21.9m | £1.2m | −£93.5m | £23.3m | £26.3m | £20.1m | £18.1m |
| Capital spending | −£43.4m | −£10.3m | −£100,000 | −£12.4m | −£5.1m | −£5.2m | −£3.3m | −£2.2m | −£600,000 | −£617,000 |
| Free cash flow | — | £16.6m | £21.9m | £9.5m | −£3.9m | −£98.7m | £20.0m | £24.1m | £19.5m | £17.5m |
| Dividends paid | −£4.9m | −£1.5m | — | — | — | −£2.6m | −£4.6m | −£3.9m | −£4.0m | −£4.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £52.2m | £57.2m | £64.2m | £47.4m | £59.9m | £97.0m | £73.2m | £91.2m |
| Operating income | £700,000 | £14.2m | £10.0m | £19.2m | £5.8m | £21.4m | −£3.7m | £12.6m |
| Net income | −£2.2m | £5.6m | £3.0m | £12.5m | £500,000 | £14.9m | −£4.8m | £7.1m |
| Diluted earnings per share | -0.02 | 0.03 | 0.02 | 0.07 | 0.00 | 0.09 | -0.03 | 0.04 |
| Cash from operations | −£12.0m | £52.0m | −£9.0m | £92.0m | −£29.0m | £73.0m | −£9.0m | £25.0m |
| Capital spending | — | −£52.0m | — | −£4.0m | −£5.0m | −£5.0m | −£6.0m | −£7.0m |
| Free cash flow | — | £0 | — | £88.0m | −£34.0m | £68.0m | −£15.0m | £18.0m |
| Total assets | £610.9m | £502.1m | £660.0m | £495.9m | £621.0m | £435.2m | £499.4m | £346.9m |
| Cash and short-term investments | £209.6m | £234.1m | £10.5m | £96.2m | £7.7m | £184.4m | £146.8m | £133.9m |
| Debt | £28.1m | £1.2m | £40.6m | £700,000 | £57.3m | £1.9m | £31.0m | £900,000 |
| Shareholders' equity | £126.6m | £156.8m | £160.1m | £182.5m | £170.2m | £168.2m | £153.0m | £156.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.4% | 29.2% | 6.8% |
| Operating income | 107.7% | — | 7.4% |
| Net income | 75.2% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 18.2% | 13.0% | -1.4% | 9.1% |
| Net margin | 8.7% | 6.6% | -6.4% | 2.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 43.5 | 33.2 | 29.0 | 162.2 | -15.3 | -15.1 | 40.7 | 20.5 | 34.0 | 12.7 |
| Price to sales | 3.1 | 3.4 | 2.6 | 1.8 | 21.8 | 17.4 | 4.5 | 4.2 | 7.3 | 2.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 28 May 2026.
| FY2026 | FY2025 | FY2024 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.031 | 0.019 | 0.02 | 0.035 | 0.03 | 0.031 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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