P 
1.90p
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
£3.7m
FY2016FY2025
Net income
−£259,000
FY2016FY2025
Free cash flow
£99,000
FY2016FY2025
Shareholders' equity
−£6.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £3.7m | £9.1m | £6.5m | £6.2m | £6.7m | £8.3m | £6.7m | £4.8m | £5.7m | £4.8m |
| Research and development | £611,000 | £602,000 | £2.6m | £2.3m | £2.3m | £2.1m | £1.8m | £1.0m | £1.2m | £978,000 |
| Operating income | £118,000 | −£1.2m | −£2.9m | −£1.3m | £257,000 | £405,000 | £57,000 | −£408,000 | −£16,000 | −£858,000 |
| Net income | −£259,000 | −£1.7m | −£2.5m | −£868,000 | £522,000 | £590,000 | £312,000 | −£151,000 | £179,000 | −£753,000 |
| Diluted earnings per share | -0.01 | -0.05 | -0.07 | -0.02 | 0.01 | 0.02 | 0.01 | -0.00 | 0.01 | -0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £1.6m | £1.9m | £7.7m | £8.2m | £5.8m | £4.6m | £4.5m | £3.4m | £2.5m | £2.9m |
| Cash and short-term investments | £15,000 | £95,000 | £148,000 | £4,000 | £920,000 | £250,000 | £774,000 | £19,000 | £72,000 | £24,000 |
| Total liabilities | £8.0m | £8.2m | £13.2m | £11.1m | £8.0m | £7.3m | £7.9m | £7.1m | £6.1m | £6.6m |
| Debt | £7.1m | £6.7m | £7.8m | £8.3m | £5.4m | £5.4m | £4.6m | £5.1m | £4.5m | £2.7m |
| Shareholders' equity | −£6.4m | −£6.3m | −£5.5m | −£3.0m | −£2.2m | −£2.7m | −£3.3m | −£3.7m | −£3.6m | −£3.8m |
| Shares outstanding | 36m | 36m | 36m | 36m | 36m | 35m | 49m | 34m | 33m | 33m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £117,000 | −£230,000 | £1.3m | −£833,000 | £1.1m | −£261,000 | £1.5m | −£200,000 | £231,000 | −£191,000 |
| Capital spending | −£18,000 | −£50,000 | −£111,000 | −£325,000 | −£130,000 | −£474,000 | −£75,000 | −£17,000 | −£18,000 | −£105,000 |
| Free cash flow | £99,000 | −£280,000 | £1.2m | −£1.2m | £937,000 | −£735,000 | £1.5m | −£217,000 | £213,000 | −£296,000 |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.1m | £1.7m | £2.1m | £4.6m | £4.6m | £4.2m | £2.1m | £2.2m |
| Operating income | −£363,000 | −£119,000 | £237,000 | −£1.2m | −£398,000 | −£596,000 | −£404,000 | −£1.6m |
| Net income | −£495,000 | −£318,000 | £59,000 | −£380,000 | −£441,000 | −£1.0m | −£522,000 | −£1.4m |
| Diluted earnings per share | -0.01 | -0.01 | 0.00 | -0.01 | -0.01 | -0.03 | -0.01 | -0.04 |
| Total assets | £1.7m | £1.6m | £1.8m | £1.9m | £7.8m | £7.7m | £7.7m | £8.0m |
| Cash and short-term investments | £17,000 | £15,000 | £49,000 | £95,000 | £63,000 | £148,000 | £148,000 | £149,000 |
| Debt | £3.6m | £7.0m | £3.1m | £6.6m | £3.2m | £5.7m | £6.7m | £2.6m |
| Shareholders' equity | −£6.9m | −£6.4m | −£6.2m | −£6.3m | −£5.9m | −£5.5m | −£5.5m | −£4.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.4% | -14.8% | -2.1% |
| Operating income | — | -21.9% | — |
| Net income | -33.2% | — | -6.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -8.5% | -20.8% | -11.5% | -9.6% |
| Net margin | -15.1% | -20.8% | -10.3% | -7.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | -0.6 | -0.3 | -1.5 | 3.0 | 1.1 | 2.4 | -2.8 | 1.7 | -0.4 |
| Price to sales | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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