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2.85p
0.00%
Close of 9 Nov 2026, in pence
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At a glance
Figures in GBP, from our data supplier.
Revenue
£4.5m
FY2016FY2025
Net income
−£3.3m
FY2016FY2025
Free cash flow
−£2.8m
FY2016FY2025
Shareholders' equity
£16.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £4.5m | £12.7m | £1.5m | £2.3m | £2.0m | £525,000 | £3.6m | £318,000 | £225,000 | £11.2m |
| Research and development | — | — | — | £687,000 | £676,000 | — | — | — | — | — |
| Operating income | −£3.2m | £3.6m | −£4.3m | −£4.2m | −£4.5m | −£5.7m | −£4.0m | −£5.3m | −£5.3m | −£6.0m |
| Net income | −£3.3m | £2.9m | −£4.0m | −£7.5m | −£4.5m | −£6.6m | −£3.3m | −£372,000 | −£5.7m | −£5.8m |
| Diluted earnings per share | -0.03 | 0.03 | -0.04 | -0.07 | -0.04 | -0.06 | -0.03 | — | -0.04 | -0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £17.7m | £19.9m | £18.6m | £21.8m | £27.1m | £30.0m | £36.4m | £46.2m | £43.1m | £55.0m |
| Cash and short-term investments | £2.5m | £2.5m | £1.4m | £5.8m | £5.2m | £4.1m | £5.2m | £13.3m | £7.2m | £15.9m |
| Total liabilities | £1.5m | £4.5m | £7.1m | £6.3m | £4.1m | £2.5m | £2.3m | £5.2m | £1.8m | £8.0m |
| Debt | £88,000 | £1.3m | £2.5m | £5.0m | £3.4m | £1.7m | £75,000 | £375,000 | £675,000 | £6.0m |
| Shareholders' equity | £16.2m | £15.4m | £11.5m | £15.5m | £23.0m | £27.5m | £34.1m | £40.9m | £41.3m | £47.0m |
| Shares outstanding | 121m | 104m | 100m | 100m | 100m | 103m | 103m | 105m | 105m | 91m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£703,000 | £4.1m | −£1.4m | −£2.6m | −£2.7m | −£4.8m | −£2.2m | −£4.0m | −£2.5m | £1.4m |
| Capital spending | −£2.1m | −£3.6m | −£1.4m | −£700,000 | −£405,000 | −£499,000 | −£841,000 | −£678,000 | −£919,000 | −£3.9m |
| Free cash flow | −£2.8m | £460,000 | −£2.8m | −£3.3m | −£3.1m | −£5.3m | −£3.1m | −£4.7m | −£3.4m | −£2.5m |
| Dividends paid | — | — | — | — | — | — | −£1.0m | — | — | −£1.6m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.6m | £2.9m | £7.6m | £5.1m | £778,000 | £389,000 | £709,000 | £354,000 |
| Operating income | −£2.0m | −£1.3m | £1.4m | £2.2m | −£2.2m | −£1.2m | −£2.0m | −£1.0m |
| Net income | −£2.0m | −£1.3m | £714,000 | £2.2m | −£1.9m | −£971,000 | −£2.1m | −£1.0m |
| Diluted earnings per share | -0.01 | -0.01 | 0.01 | 0.02 | -0.02 | -0.01 | -0.02 | -0.01 |
| Cash from operations | — | — | £5.0m | −£1.0m | — | — | −£1.0m | — |
| Capital spending | −£1.0m | — | −£2.0m | −£1.0m | −£1.0m | — | — | — |
| Free cash flow | — | — | £3.0m | −£2.0m | — | — | — | — |
| Total assets | £17.7m | £17.5m | £19.9m | £22.5m | £18.6m | £18.6m | £17.3m | £17.3m |
| Cash and short-term investments | £2.5m | £1.3m | £2.5m | £833,000 | £1.4m | £1.4m | £1.1m | £1.1m |
| Debt | — | — | £88,000 | £2.1m | £2.1m | £2.1m | £2.4m | £2.4m |
| Shareholders' equity | £16.2m | £14.1m | £15.4m | £14.7m | £11.5m | £11.5m | £13.5m | £13.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 24.8% | 53.5% | -16.9% |
| Operating income | -8.1% | -10.6% | — |
| Net income | -24.1% | -13.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 2.1% | -38.5% | -77.8% | -50.3% |
| Net margin | -1.9% | -56.2% | -97.3% | -48.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.3 | 2.2 | -3.3 | -0.1 | -1.4 | -1.8 | -6.1 | -88.6 | -6.9 | -7.3 |
| Price to sales | 1.0 | 0.5 | 8.8 | 0.5 | 3.1 | 22.3 | 5.6 | 103.7 | 174.1 | 3.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Mar 2019.
| FY2019 | FY2016 | FY2015 | |
|---|---|---|---|
| Paid in the year | 0.01 | 0.00 | 0.013 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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