P 
44.50p
+0.23%
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
£91.1m
FY2016FY2025
Net income
−£6.2m
FY2016FY2025
Free cash flow
−£3.1m
FY2016FY2025
Shareholders' equity
£48.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £91.1m | £91.2m | £102.7m | £110.8m | £106.0m | £87.9m | £92.8m | £89.6m | £84.8m | £76.7m |
| Gross profit | £44.3m | £48.8m | £56.7m | £62.5m | £59.7m | £46.0m | £53.8m | £50.8m | £47.2m | £44.4m |
| Research and development | — | £305,000 | £679,000 | £837,000 | £570,000 | £538,000 | £412,000 | £303,000 | £194,000 | £265,000 |
| Operating income | −£4.8m | £2.0m | −£6.7m | £7.6m | £6.4m | £570,000 | £7.5m | £9.9m | £9.1m | £8.0m |
| Net income | −£6.2m | £344,000 | −£8.5m | £5.6m | £3.2m | −£735,000 | £5.8m | £7.7m | £6.9m | £6.2m |
| Diluted earnings per share | -0.45 | 0.03 | -0.61 | 0.40 | 0.23 | -0.05 | 0.54 | 0.72 | 0.64 | 0.59 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £97.4m | £102.4m | £88.6m | £104.5m | £94.6m | £89.9m | £82.3m | £67.2m | £65.3m | £63.5m |
| Cash and short-term investments | £6.5m | £10.9m | £888,000 | £1.7m | £7.6m | £11.6m | £1.2m | £7.2m | £8.5m | £6.5m |
| Total liabilities | £49.0m | £46.8m | £33.7m | £37.8m | £32.6m | £34.2m | £34.2m | £18.5m | £20.5m | £26.7m |
| Debt | £29.0m | £29.9m | £16.6m | £18.1m | £13.8m | £18.2m | £19.8m | £5.0m | £6.9m | £8.9m |
| Shareholders' equity | £48.4m | £55.6m | £55.0m | £66.7m | £61.9m | £55.7m | £48.1m | £48.6m | £44.8m | £36.8m |
| Shares outstanding | 14m | 14m | 14m | 14m | 14m | 14m | 11m | 11m | 11m | 11m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£1.8m | £6,000 | £9.6m | −£240,000 | £6.5m | £7.2m | −£591,000 | £6.6m | £6.7m | £6.9m |
| Capital spending | −£1.4m | −£1.6m | −£2.9m | −£6.0m | −£5.4m | −£2.8m | −£2.0m | −£1.1m | −£1.0m | −£764,000 |
| Free cash flow | −£3.1m | −£1.6m | £6.7m | −£6.3m | £1.1m | £4.4m | −£2.6m | £5.5m | £5.7m | £6.1m |
| Dividends paid | — | −£482,000 | −£2.1m | −£2.3m | — | — | −£4.0m | −£3.8m | −£3.4m | −£3.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £36.4m | £54.0m | £37.1m | £54.6m | £36.6m | £58.6m | £44.1m | £65.4m |
| Gross profit | −£3.1m | −£2.7m | −£1.9m | £4.3m | −£1.2m | £56.0m | £714,000 | £6.7m |
| Operating income | −£3.1m | −£2.7m | −£2.0m | £4.3m | −£1.9m | −£7.5m | £714,000 | £6.7m |
| Net income | −£5.0m | −£3.3m | −£2.9m | £3.0m | −£2.6m | −£8.3m | −£113,000 | £4.8m |
| Diluted earnings per share | -0.34 | -0.24 | -0.21 | 0.22 | -0.19 | -0.61 | -0.01 | 0.35 |
| Cash from operations | −£4.0m | — | −£1.0m | £3.0m | −£3.0m | £9.0m | — | £1.0m |
| Capital spending | — | — | — | — | — | — | −£1.0m | −£2.0m |
| Free cash flow | — | — | — | — | — | — | — | −£1.0m |
| Total assets | £94.0m | £97.4m | £93.1m | £102.4m | £90.0m | £88.6m | £102.7m | £104.5m |
| Cash and short-term investments | £6.7m | £6.5m | £5.7m | £10.9m | £733,000 | £888,000 | £1.5m | £1.7m |
| Debt | £15.3m | £25.7m | £22.4m | £25.1m | £16.2m | £10.8m | £17.7m | £13.5m |
| Shareholders' equity | £60.8m | £48.4m | £50.6m | £55.6m | £52.2m | £55.0m | £63.8m | £66.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.3% | 0.7% | 2.9% |
| Net income | — | 53.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 51.1% | 53.6% | 53.9% | 55.3% |
| Operating margin | -1.5% | -0.5% | 0.9% | 4.8% |
| Net margin | -3.2% | -2.2% | -1.1% | 2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.2 | 40.9 | -2.7 | 4.3 | 15.0 | -53.0 | 8.3 | 7.5 | 8.1 | 8.9 |
| Price to sales | 0.1 | 0.1 | 0.2 | 0.2 | 0.5 | 0.4 | 0.5 | 0.6 | 0.7 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Nov 2024.
| FY2024 | FY2023 | FY2022 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.035 | 0.155 | 0.165 | 0.083 | 0.083 | 0.076 | 0.072 | 0.07 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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