P 
14.75p
-1.67%
Close of 27 Oct 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
£61.2m
FY2016FY2025
Net income
−£9.6m
FY2016FY2025
Free cash flow
£3.6m
FY2016FY2025
Shareholders' equity
£35.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £61.2m | £62.0m | £62.4m | £65.7m | £33.3m | £19.1m | £13.4m | £8.9m | £8.1m | £9.1m |
| Research and development | £1.5m | £5.3m | £646,000 | £2.3m | £1.7m | £1.4m | £415,000 | — | — | — |
| Operating income | £1.6m | −£6.1m | −£10.6m | −£7.2m | −£5.1m | −£2.7m | −£3.1m | −£1.6m | −£3.5m | −£3.0m |
| Net income | −£9.6m | −£6.6m | −£7.9m | −£4.2m | −£8.7m | −£5.1m | −£2.2m | −£1.5m | −£2.8m | −£2.0m |
| Diluted earnings per share | -0.07 | -0.05 | -0.06 | -0.03 | -0.08 | -0.07 | -0.03 | -0.02 | -0.09 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £86.3m | £88.4m | £90.7m | £93.7m | £101.2m | £26.6m | £27.9m | £23.9m | £11.2m | £12.5m |
| Cash and short-term investments | £384,000 | £1.0m | £2.2m | £4.9m | £13.5m | £1.4m | £2.0m | £5.3m | £673,000 | £1.2m |
| Total liabilities | £50.9m | £45.7m | £41.0m | £33.3m | £40.2m | £17.5m | £13.8m | £13.1m | £10.9m | £10.4m |
| Debt | £8.2m | £9.2m | £2.5m | £2.5m | £4.4m | £3.0m | £23,000 | £1.1m | £3.4m | £3.3m |
| Shareholders' equity | £35.4m | £42.7m | £49.7m | £60.4m | £61.0m | £9.1m | £14.1m | £10.7m | £323,000 | £2.0m |
| Shares outstanding | 136m | 128m | 128m | 128m | 107m | 72m | 66m | 61m | 32m | 136m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £3.7m | −£74,000 | £8.6m | £2.5m | −£2.4m | £2.3m | −£3.6m | £2.5m | −£1.7m | −£2.9m |
| Capital spending | −£100,000 | −£7.0m | −£9.1m | −£8.6m | −£3.6m | −£2.2m | −£3.2m | −£1.5m | −£197,000 | −£596,000 |
| Free cash flow | £3.6m | −£7.0m | −£527,000 | −£6.1m | −£6.0m | £99,000 | −£6.9m | £1.1m | −£1.9m | −£3.5m |
Latest quarters
By quarter end
| May 2026 | Nov 2025 | May 2025 | Nov 2024 | May 2024 | Nov 2023 | May 2023 | Nov 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £33.0m | £31.1m | £30.1m | £31.2m | £30.8m | £31.1m | £31.3m | £33.0m |
| Operating income | £31,000 | £2.4m | −£791,000 | £1.7m | −£587,000 | £617,000 | −£2.0m | £193,000 |
| Net income | −£2.4m | −£5.3m | −£4.3m | −£2.9m | −£3.7m | −£2.8m | −£5.1m | £2.8m |
| Diluted earnings per share | -0.02 | -0.04 | -0.03 | -0.02 | -0.03 | -0.02 | -0.04 | 0.02 |
| Cash from operations | £2.0m | £2.0m | £1.0m | — | −£1.0m | £5.0m | £3.0m | £2.0m |
| Total assets | £92.6m | £86.3m | £87.4m | £88.4m | £89.5m | £90.7m | £93.4m | £93.7m |
| Cash and short-term investments | £1.5m | £384,000 | £1.8m | £1.0m | £1.3m | £2.2m | £2.7m | £4.9m |
| Debt | £1.6m | £8.3m | £8.3m | £7.0m | £4.9m | £1.3m | £1.6m | £1.6m |
| Shareholders' equity | £35.7m | £35.4m | £39.1m | £42.7m | £46.2m | £49.7m | £52.8m | £60.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.4% | 26.3% | 24.8% |
| Net income | 32.0% | 13.6% | 11.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -3.6% | -8.9% | -9.9% | -12.2% |
| Net margin | -13.2% | -11.3% | -13.9% | -15.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.5 | -10.7 | -8.8 | -21.2 | -19.0 | -12.5 | -15.8 | -23.4 | -4.6 | -27.6 |
| Price to sales | 0.9 | 1.1 | 1.1 | 1.4 | 5.0 | 3.3 | 2.5 | 4.0 | 1.6 | 6.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 Mar 2013.
| FY2013 | FY2012 | FY2011 | |
|---|---|---|---|
| Paid in the year | 0.006 | 0.022 | 0.011 |
- 10-to-1 reverse split · 2 Nov 2018
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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