P 
9.50p
-2.56%
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.
Net income
£3.5m
FY2016FY2025
Free cash flow
−£3.2m
FY2016FY2025
Shareholders' equity
£26.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | −£124,000 | £161,000 | £78,000 | £37,000 | £37,000 | £90 | — | — | −£900 | −£1,320 |
| Research and development | — | £800 | — | — | — | — | — | — | — | — |
| Operating income | −£3.8m | −£7.7m | −£1.1m | −£3.1m | −£521,000 | −£13,900 | −£15,860 | −£11,460 | −£33,120 | −£17,780 |
| Net income | £3.5m | £3.0m | −£1.1m | −£2.3m | −£592,000 | −£14,050 | −£15,390 | −£64,940 | −£39,450 | −£17,780 |
| Diluted earnings per share | 0.03 | 0.02 | -0.01 | -0.03 | -0.01 | -0.00 | -0.00 | -0.01 | -0.03 | -0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £27.6m | £23.4m | £15.4m | £14.6m | £6.3m | £26,710 | £16,380 | £22,680 | £60,930 | £60,560 |
| Cash and short-term investments | £7.7m | £14.0m | £8.3m | £3.9m | £1.5m | £9,130 | £1,710 | £1,470 | £1,800 | £1,010 |
| Total liabilities | £1.8m | £2.9m | £885,000 | £850,000 | £317,000 | £2,770 | £660 | £2,940 | £6,670 | £5,030 |
| Debt | £588,000 | £1.6m | — | — | — | — | — | — | £150 | £310 |
| Shareholders' equity | £26.1m | £19.8m | £13.6m | £11.7m | £6.3m | £26,690 | £17,800 | £21,250 | £54,260 | £55,530 |
| Shares outstanding | 116m | 144m | 100m | 76m | 63m | 29m | 19m | 7m | 1m | 0m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£3.2m | −£2.6m | −£2.1m | −£2.5m | −£564,000 | −£4,530 | −£5,910 | −£11,930 | −£30,280 | −£12,230 |
| Capital spending | −£24,000 | −£537,000 | −£805,000 | −£1.6m | −£530,000 | −£6,850 | −£150 | −£2,060 | −£700 | −£290 |
| Free cash flow | −£3.2m | −£3.1m | −£2.9m | −£4.1m | −£1.1m | −£11,380 | −£6,060 | −£13,990 | −£30,980 | −£12,520 |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Jun 2025 | Sept 2024 | Mar 2024 | Feb 2024 | Sept 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Gross profit | — | £38,000 | −£162,000 | £477,000 | −£3,000 | — | £74,000 | £1,000 |
| Operating income | −£1.8m | −£1.6m | −£2.1m | −£1.6m | −£401,000 | −£1.5m | −£1.7m | −£1.0m |
| Net income | −£1.9m | −£1.9m | £5.4m | £3.4m | −£399,000 | −£399,000 | £399,000 | −£1.5m |
| Diluted earnings per share | -0.02 | -0.02 | 0.05 | 0.02 | -0.00 | -0.08 | 0.00 | -0.01 |
| Cash from operations | — | — | −£2.0m | −£1.0m | — | — | — | −£1.0m |
| Total assets | £27.6m | £27.6m | £31.1m | £23.4m | £16.2m | £16.2m | £15.4m | £14.6m |
| Cash and short-term investments | £7.7m | £7.7m | £18.5m | £14.0m | £8.2m | £8.2m | £8.3m | £4.0m |
| Debt | £588,000 | £588,000 | £535,000 | £1.6m | — | — | — | — |
| Shareholders' equity | £26.1m | £26.1m | £27.6m | £19.8m | £14.6m | £14.6m | £13.6m | £12.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.1% | 284.9% | 43.9% |
| Operating income | 6.8% | 206.4% | 7.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.1% | 21.2% | 25.1% | — |
| Operating margin | -1906.0% | -2182.4% | -2146.0% | — |
| Net margin | 1092.7% | 449.9% | 347.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.6 | 6.7 | -14.2 | -9.2 | -30.8 | -1144.8 | -90.8 | -13.5 | -17.0 | -53.6 |
| Price to sales | 214.3 | 38.3 | 199.0 | — | 492.6 | — | — | — | — | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-to-1 reverse split · 27 Mar 2024
- 100-to-1 reverse split · 29 Aug 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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