P 
1.45p
+5.07%
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
£3.8m
FY2016FY2025
Net income
−£3.1m
FY2016FY2025
Free cash flow
−£143,000
FY2016FY2025
Shareholders' equity
−£9.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £3.8m | £4.9m | £5.0m | £7.8m | £5.1m | £4.7m | £4.6m | £3.0m | £3.4m | £2.7m |
| Gross profit | −£1.0m | −£167,000 | £1.2m | £4.8m | £3.0m | £2.5m | £2.9m | £1.9m | £2.2m | £1.5m |
| Research and development | — | £606,000 | £637,000 | £376,000 | £287,000 | £202,000 | £355,000 | £441,000 | £441,000 | £1.1m |
| Operating income | −£2.7m | −£2.4m | −£1.6m | £1.5m | £512,000 | £526,000 | £279,000 | −£1.4m | −£1.8m | −£2.7m |
| Net income | −£3.1m | −£3.4m | −£2.4m | £1.3m | £72,000 | £295,000 | £149,000 | −£1.3m | −£2.5m | −£2.3m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | -0.01 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £8.3m | £9.2m | £11.5m | £1.51trn | £1.38trn | £1.35trn | £1.14trn | £1.13trn | £1.13trn | £1.21trn |
| Cash and short-term investments | £781,000 | £1.1m | £2.0m | £252.89bn | £240.31bn | £193.69bn | £153.39bn | £180.03bn | £175.34bn | £106.95bn |
| Total liabilities | £17.8m | £15.7m | £14.5m | £1.44trn | £1.31trn | £1.28trn | £1.07trn | £1.07trn | £1.07trn | £119.08bn |
| Debt | £15.8m | £14.5m | £13.5m | £139.92bn | £138.58bn | £120.95bn | £128.01bn | £127.18bn | £114.29bn | £119.08bn |
| Shareholders' equity | −£9.5m | −£6.5m | −£3.1m | £68.29bn | £69.05bn | £65.80bn | £64.43bn | £62.56bn | £63.91bn | £64.87bn |
| Shares outstanding | 295m | 298m | 295m | 312m | 309m | 295m | 295m | 295m | 296m | 245m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£46,000 | −£826,000 | −£481,000 | £2.1m | £793,000 | £1.6m | −£21.45bn | −£14.78bn | £55.47bn | −£31.70bn |
| Capital spending | −£97,000 | −£224,000 | −£237,000 | −£1.75bn | −£1.72bn | −£1.32bn | −£1.79bn | −£1.40bn | −£1.46bn | −£1.71bn |
| Free cash flow | −£143,000 | −£1.1m | −£718,000 | −£1.74bn | −£1.72bn | −£1.32bn | −£23.24bn | −£16.18bn | £54.02bn | −£33.40bn |
| Dividends paid | — | — | −£2.19bn | −£1.93bn | −£1.36bn | −£936.0m | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £1.9m | £1.9m | £1.9m | £2.7m | £2.2m | £1.8m | £3.2m | £4.5m |
| Gross profit | −£39,000 | −£917,000 | −£89,999 | £57,999 | −£225,000 | −£120,000 | £1.8m | £3.0m |
| Operating income | −£1.2m | −£1.0m | −£1.6m | −£647,000 | −£1.7m | −£1.5m | −£163,000 | £1.5m |
| Net income | −£1.4m | −£921,000 | −£2.1m | −£1.2m | −£2.2m | −£1.9m | −£578,000 | £1.3m |
| Diluted earnings per share | -0.00 | -0.00 | -0.01 | -0.00 | -0.01 | -0.01 | -0.00 | 0.00 |
| Cash from operations | — | — | — | — | — | — | £14.99bn | −£9.13bn |
| Capital spending | — | — | — | — | — | −£1.72bn | — | −£1.75bn |
| Free cash flow | — | — | — | — | — | — | — | −£10.88bn |
| Total assets | £7.7m | £8.3m | £8.3m | £9.2m | £9.5m | £11.5m | £11.1m | £12.4m |
| Cash and short-term investments | £1.1m | £781,000 | £263,000 | £1.1m | £1.2m | £2.0m | £3.8m | £4.0m |
| Debt | £15.5m | £14.9m | £14.5m | £13.5m | £12.5m | £11.8m | £11.1m | £11.6m |
| Shareholders' equity | −£9.9m | −£9.5m | −£8.6m | −£6.5m | −£5.3m | −£3.1m | −£1.4m | −£843,000 |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.6% | -4.4% | 7.2% |
| Operating income | — | — | -1.5% |
| Net income | — | — | 1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -13.6% | 22.2% | 32.8% | 42.4% |
| Operating margin | -58.1% | -24.0% | -13.1% | -27.2% |
| Net margin | -74.8% | -35.4% | -23.1% | -33.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.4 | -1.0 | -1.8 | 1.7 | 45.7 | 8.1 | 12.1 | -1.1 | -0.8 | -1.2 |
| Price to sales | 1.2 | 0.7 | 0.9 | 0.3 | 0.6 | 0.5 | 0.4 | 0.5 | 0.6 | 1.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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