P 
73.00p
0.00%
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
£22.5m
FY2016FY2025
Net income
£41,000
FY2016FY2025
Free cash flow
£1.1m
FY2016FY2025
Shareholders' equity
−£1.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £22.5m | £18.0m | £14.9m | £11.9m | £7.4m | £4.4m | £2.8m | £2.0m | £1.9m | £1.1m |
| Gross profit | £20.1m | £16.0m | £11.9m | £9.0m | £4.8m | £2.5m | £1.5m | £856,000 | £811,000 | £569,000 |
| Research and development | — | £1.2m | £961,000 | £803,000 | £595,000 | £433,000 | £183,000 | £107,000 | — | £138,000 |
| Operating income | −£207,000 | −£1.7m | −£4.9m | −£3.1m | −£4.0m | −£4.2m | −£4.7m | −£3.8m | −£1.7m | −£862,000 |
| Net income | £41,000 | −£1.2m | −£4.9m | −£2.9m | −£4.0m | −£4.1m | −£4.4m | −£3.8m | −£1.7m | −£859,000 |
| Diluted earnings per share | 0.00 | -0.02 | -0.07 | -0.04 | -0.06 | -0.07 | -0.10 | -0.08 | -0.05 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £15.8m | £15.5m | £11.5m | £13.0m | £13.7m | £9.3m | £4.9m | £7.6m | £6.3m | £4.2m |
| Cash and short-term investments | £3.9m | £4.3m | £1.2m | £4.9m | £7.5m | £4.3m | £1.5m | £3.7m | £2.0m | £895,000 |
| Total liabilities | £17.0m | £17.5m | £15.6m | £12.8m | £9.8m | £7.3m | £3.4m | £1.8m | £883,000 | £2.2m |
| Debt | £37,000 | £23,000 | £67,000 | £109,000 | £15,000 | £1.3m | £2.5m | £1.1m | £135,000 | £1.2m |
| Shareholders' equity | −£1.2m | −£2.0m | −£4.1m | £185,000 | £3.9m | £1.9m | £1.4m | £5.8m | £5.4m | £2.0m |
| Shares outstanding | 72m | 72m | 65m | 65m | 65m | 59m | 43m | 47m | 32m | 32m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £1.2m | £1.8m | −£2.0m | −£1.4m | £198,000 | −£1.7m | −£3.9m | −£3.4m | −£953,000 | £138,000 |
| Capital spending | −£50,000 | −£49,000 | −£1.7m | −£1.3m | −£960,000 | −£1.3m | −£27,000 | −£43,000 | −£108,000 | −£182,000 |
| Free cash flow | £1.1m | £1.8m | −£3.7m | −£2.6m | −£762,000 | −£3.0m | −£3.9m | −£3.5m | −£1.1m | −£44,000 |
| Dividends paid | — | — | — | −£318,000 | −£3.7m | — | — | — | −£997,000 | −£47,000 |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £11.3m | £11.9m | £10.6m | £9.2m | £8.7m | £7.7m | £3.8m | £7.3m |
| Gross profit | £9.0m | £10.6m | £8.7m | £7.5m | £7.8m | £6.2m | £2.9m | £5.7m |
| Operating income | −£812,000 | £102,000 | −£309,000 | £823,000 | −£2.5m | −£1.4m | −£418,000 | −£1.5m |
| Net income | −£820,000 | £329,000 | −£288,000 | −£406,000 | −£773,000 | −£3.0m | −£1.5m | −£1.9m |
| Diluted earnings per share | -0.01 | 0.00 | -0.00 | -0.01 | -0.01 | -0.05 | -0.02 | -0.03 |
| Cash from operations | — | — | — | £1.0m | — | — | — | −£2.0m |
| Total assets | £15.5m | £15.8m | £14.7m | £15.5m | £10.9m | £11.5m | £11.5m | £12.0m |
| Cash and short-term investments | £2.6m | £3.9m | £4.0m | £4.3m | £795,000 | £1.2m | £1.2m | £1.9m |
| Debt | — | £14,000 | — | £46,000 | £250,000 | −£8.0m | £23,000 | £9.2m |
| Shareholders' equity | −£2.0m | −£1.2m | −£2.0m | −£2.0m | −£4.7m | −£4.1m | −£4.1m | −£1.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 23.5% | 38.6% | 13.2% |
| Operating income | -59.3% | -45.2% | -0.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 89.3% | 84.8% | 81.5% | 74.7% |
| Operating margin | -4.6% | -14.5% | -22.7% | -31.3% |
| Net margin | -2.8% | -13.3% | -21.7% | -30.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -38.1 | -8.4 | -11.8 | -9.5 | -7.1 | -3.4 | -2.4 | -10.3 | -14.5 |
| Price to sales | 1.7 | 2.5 | 2.8 | 2.9 | 5.2 | 6.7 | 5.3 | 4.4 | 9.3 | 11.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 Nov 2016.
| FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|
| Paid in the year | 0.032 | 0.002 | 0.002 | 0.003 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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