O 
559.00p
+2.38%
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
£168.7m
FY2016FY2025
Net income
−£30.1m
FY2016FY2025
Free cash flow
−£10.2m
FY2016FY2025
Shareholders' equity
£91.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £168.7m | £128.8m | £89.5m | £140.0m | £142.8m | £87.7m | £64.1m | £66.8m | £37.6m | £27.8m |
| Gross profit | £66.0m | £53.0m | £39.7m | £69.2m | £82.6m | £46.1m | £28.3m | £44.0m | £19.1m | £15.9m |
| Research and development | £62.8m | £4.5m | £59.4m | £60.9m | £40.2m | £29.7m | £22.5m | £29.7m | £21.6m | £24.3m |
| Operating income | −£29.6m | −£37.4m | −£177.3m | −£37.2m | £20.8m | −£5.7m | −£15.4m | £8.0m | −£5.7m | −£15.4m |
| Net income | −£30.1m | −£43.2m | −£157.5m | −£39.2m | £19.0m | −£6.2m | −£16.1m | £7.5m | −£9.0m | −£16.6m |
| Diluted earnings per share | -0.28 | -0.41 | -1.63 | -0.41 | 0.17 | -0.08 | -0.21 | 0.11 | -0.15 | -0.29 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £325.7m | £231.6m | £252.3m | £460.2m | £237.2m | £183.9m | £122.9m | £112.4m | £65.4m | £56.9m |
| Cash and short-term investments | £96.9m | £60.6m | £103.7m | £141.3m | £109.0m | £47.0m | £19.0m | £32.2m | £14.3m | £15.3m |
| Total liabilities | £234.4m | £171.2m | £174.5m | £224.0m | £49.9m | £71.2m | £47.3m | £77.7m | £59.3m | £44.3m |
| Debt | £148.1m | £108.8m | £111.5m | £114.3m | £9.3m | £13.8m | £8.4m | £41.2m | £36.9m | £34.4m |
| Shareholders' equity | £91.3m | £57.0m | £74.0m | £204.7m | £187.3m | £112.7m | £75.6m | £34.7m | £6.1m | £12.6m |
| Shares outstanding | 106m | 106m | 97m | 96m | 111m | 82m | 77m | 70m | 62m | 58m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£5.5m | −£50.6m | −£28.5m | −£12.6m | £25.5m | £3.1m | −£3.5m | £12.9m | £3.0m | −£5.1m |
| Capital spending | −£4.8m | −£7.5m | −£9.8m | −£16.3m | −£9.5m | −£13.4m | −£25.8m | −£10.1m | −£2.0m | −£6.5m |
| Free cash flow | −£10.2m | −£58.1m | −£38.3m | −£28.9m | £16.0m | −£10.2m | −£29.3m | £2.7m | £1.0m | −£11.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £79.8m | £95.5m | £73.2m | £78.0m | £50.8m | £46.5m | £43.1m | £76.0m |
| Gross profit | £28.9m | £34.3m | £31.7m | £34.7m | £18.0m | £17.8m | £21.9m | £33.1m |
| Operating income | −£22.1m | −£5.4m | −£24.2m | −£9.4m | −£32.2m | −£131.5m | −£52.6m | −£33.8m |
| Net income | −£37.0m | −£3.8m | −£26.4m | −£10.7m | −£32.5m | −£109.5m | −£48.0m | −£13.7m |
| Diluted earnings per share | -0.31 | -0.04 | -0.25 | -0.10 | -0.31 | -1.13 | -0.50 | -0.14 |
| Cash from operations | −£18.0m | −£7.0m | £2.0m | −£11.0m | −£38.0m | −£23.0m | −£8.0m | £9.0m |
| Capital spending | −£6.0m | −£3.0m | −£1.0m | −£2.0m | −£4.0m | −£4.0m | −£4.0m | −£10.0m |
| Free cash flow | −£24.0m | −£10.0m | £1.0m | −£13.0m | −£42.0m | −£27.0m | −£12.0m | −£1.0m |
| Total assets | £298.9m | £325.7m | £216.3m | £231.6m | £245.0m | £252.3m | £401.1m | £460.2m |
| Cash and short-term investments | £75.3m | £96.9m | £53.9m | £60.6m | £81.4m | £103.7m | £129.5m | £141.3m |
| Debt | £7.1m | £47.5m | £41.4m | £44.2m | £44.0m | £42.2m | £42.1m | £43.1m |
| Shareholders' equity | £58.1m | £91.3m | £32.7m | £57.0m | £66.3m | £74.0m | £172.1m | £204.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 6.4% | 14.0% | 26.6% |
| Operating income | -7.3% | 39.1% | 7.7% |
| Net income | -8.4% | 37.0% | 8.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.0% | 43.2% | 47.1% | 48.9% |
| Operating margin | -22.5% | -53.4% | -35.2% | -31.9% |
| Net margin | -24.6% | -51.2% | -33.9% | -31.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.7 | -10.3 | -1.4 | -10.9 | 72.0 | -135.8 | -30.9 | 65.6 | -30.5 | -7.1 |
| Price to sales | 3.9 | 3.5 | 2.4 | 3.0 | 9.6 | 9.7 | 7.7 | 7.4 | 7.3 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 50-to-1 reverse split · 30 May 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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