P 
48.50p
+1.04%
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
£85.5m
FY2017FY2026
Net income
£1.6m
FY2017FY2026
Free cash flow
£9.5m
FY2017FY2026
Shareholders' equity
£11.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £85.5m | £69.5m | £62.6m | £62.3m | £69.2m | £53.4m | £38.9m | £27.8m | £21.1m | £17.5m |
| Gross profit | £50.1m | £45.7m | £41.1m | £38.3m | £45.0m | £35.9m | £24.1m | £17.9m | £13.7m | £11.6m |
| Research and development | — | — | — | — | £600,000 | £400,000 | — | — | — | — |
| Operating income | £4.9m | £2.9m | £2.0m | −£5.4m | −£227,000 | £9.7m | £799,000 | £169,000 | £1.3m | £1.3m |
| Net income | £1.6m | £1.0m | £610,000 | −£4.9m | −£86,000 | £6.4m | £7,000 | £2.0m | £501,309 | £802,460 |
| Diluted earnings per share | 0.01 | 0.01 | 0.01 | -0.05 | -0.00 | 0.06 | 0.00 | 0.02 | 0.00 | 0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £61.3m | £49.7m | £45.1m | £52.3m | £51.1m | £39.0m | £25.9m | £23.7m | £20.6m | £9.0m |
| Cash and short-term investments | £4.4m | £2.8m | £2.0m | £2.0m | £3.8m | £5.9m | £3.0m | £2.4m | £1.7m | £579,596 |
| Total liabilities | £49.7m | £40.0m | £36.7m | £43.0m | £37.7m | £29.4m | £21.3m | £18.5m | £16.9m | £6.2m |
| Debt | £30.2m | £25.1m | £25.4m | £34.0m | £28.0m | £22.3m | £16.7m | £14.3m | £14.2m | £2.9m |
| Shareholders' equity | £11.6m | £9.7m | £8.4m | £9.3m | £13.4m | £9.5m | £4.5m | £5.2m | £3.7m | £2.9m |
| Shares outstanding | 113m | 109m | 109m | 109m | 109m | 108m | 109m | 105m | 105m | 113m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £14.1m | £11.0m | £8.6m | £9.3m | £4.3m | £7.6m | £4.4m | £4.0m | £1.5m | £719,479 |
| Capital spending | −£4.6m | −£3.8m | −£1.8m | −£4.9m | −£3.5m | −£2.0m | −£659,000 | −£668,000 | −£897,567 | −£1.0m |
| Free cash flow | £9.5m | £7.1m | £6.7m | £4.4m | £793,000 | £5.5m | £3.7m | £3.3m | £616,617 | −£303,433 |
| Dividends paid | — | — | — | −£272,000 | −£1.9m | −£1.4m | −£500,000 | −£505,000 | −£602,000 | −£455,000 |
Latest quarters
By quarter end
| Mar 2026 | Oct 2025 | Oct 2025 | Mar 2025 | Oct 2024 | Mar 2024 | Oct 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £51.3m | £34.1m | £34.1m | £41.2m | £28.3m | £36.3m | £26.3m | £35.0m |
| Gross profit | £31.2m | £18.9m | £22.7m | £27.3m | £18.4m | £21.1m | £14.9m | £19.0m |
| Operating income | £6.3m | −£1.5m | −£1.5m | £5.0m | −£2.1m | £4.9m | −£3.0m | −£2.4m |
| Net income | £3.8m | −£2.2m | −£2.2m | £3.5m | −£2.5m | £3.0m | −£2.4m | −£2.1m |
| Diluted earnings per share | 0.03 | -0.02 | -0.02 | 0.03 | -0.02 | 0.03 | -0.02 | -0.02 |
| Cash from operations | £13.0m | — | — | £9.0m | — | £5.0m | £2.0m | £5.0m |
| Capital spending | −£2.0m | −£2.0m | — | −£2.0m | −£1.0m | — | −£1.0m | −£3.0m |
| Free cash flow | £11.0m | — | — | £7.0m | — | — | £1.0m | £2.0m |
| Total assets | £61.3m | £57.3m | £57.3m | £49.7m | £53.2m | £45.1m | — | £50.7m |
| Cash and short-term investments | £4.4m | £2.8m | £2.8m | £2.8m | £3.1m | £2.0m | — | £2.0m |
| Debt | £5.5m | £10.5m | £28.1m | £21.4m | £10.5m | £6.1m | — | £7.6m |
| Shareholders' equity | £11.6m | £7.6m | £7.6m | £9.7m | £6.3m | £8.4m | — | £7.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.1% | 9.9% | 18.4% |
| Operating income | — | -12.8% | 8.7% |
| Net income | — | -24.5% | -0.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 61.9% | 62.6% | 63.7% | 63.9% |
| Operating margin | 5.0% | 1.5% | 3.4% | 3.7% |
| Net margin | 1.7% | -0.6% | 1.1% | 1.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Price to earnings | 35.8 | 39.7 | 67.0 | -5.8 | -355.6 | 15.2 |
| Price to sales | 0.7 | 0.6 | 0.7 | 0.5 | 0.4 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Sept 2022.
| FY2023 | |
|---|---|
| Paid in the year | 0.009 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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