M 
58.00p
0.00%
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
£84.0m
FY2016FY2025
Net income
−£2.2m
FY2016FY2025
Free cash flow
£9.5m
FY2016FY2025
Shareholders' equity
£68.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £84.0m | £79.5m | £71.7m | £63.2m | £57.0m | £50.0m | £43.9m | £49.5m | £48.1m | £41.2m |
| Research and development | £2.8m | £2.2m | £2.0m | £3.3m | — | £5.7m | £5.4m | £5.3m | £4.9m | £3.9m |
| Operating income | −£3.7m | −£2.3m | £2.3m | £1.7m | £3.1m | £1.6m | −£334,667 | £4.0m | £3.0m | £3.2m |
| Net income | −£2.2m | −£2.1m | £1.6m | £1.4m | £1.1m | £1.4m | −£834,666 | £4.4m | £3.6m | £3.0m |
| Diluted earnings per share | -0.02 | -0.02 | 0.01 | 0.01 | 0.01 | 17.62 | -10.29 | 54.71 | 11.81 | 9.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £132.9m | £134.6m | £131.2m | £126.1m | £123.3m | £122.3m | £112.3m | £45.2m | £36.5m | £28.1m |
| Cash and short-term investments | £16.7m | £11.4m | £16.8m | £16.7m | £9.7m | £10.1m | £5.3m | £7.9m | £7.1m | £5.9m |
| Total liabilities | £64.8m | £62.7m | £55.5m | £52.5m | £66.1m | £66.2m | £57.7m | £32.7m | £26.9m | £20.8m |
| Debt | £3.9m | £1.3m | £1.6m | £1.7m | £18.9m | £18.9m | £18.8m | — | — | — |
| Shareholders' equity | £68.0m | £71.9m | £75.7m | £73.5m | £57.2m | £56.1m | £54.6m | £8.7m | £6.3m | £4.9m |
| Shares outstanding | 116m | 116m | 116m | 116m | 106m | 0m | 0m | 0m | 0m | 0m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £12.0m | £9.7m | £8.8m | £9.4m | £6.9m | £10.7m | £7.8m | £9.1m | £4.7m | £3.7m |
| Capital spending | −£2.5m | −£4.2m | −£4.7m | −£3.1m | −£2.4m | −£2.0m | −£2.1m | −£6.1m | −£1.3m | −£1.2m |
| Free cash flow | £9.5m | £5.5m | £4.0m | £6.4m | £4.5m | £8.7m | £5.6m | £3.1m | £3.4m | £2.5m |
| Dividends paid | −£2.1m | −£2.7m | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £39.5m | £40.0m | £44.0m | £40.4m | £39.1m | £37.8m | £33.9m | £16.9m |
| Operating income | −£8,000 | −£4.5m | £1.0m | −£2.9m | £512,000 | £929,000 | £785,000 | £663,000 |
| Net income | £1.0m | −£3.4m | £1.3m | −£2.1m | £4,000 | £354,000 | £1.2m | £611,000 |
| Diluted earnings per share | 0.01 | -0.03 | 0.01 | -0.02 | 0.00 | 0.00 | 0.01 | 0.01 |
| Cash from operations | £1.0m | £8.0m | £3.0m | £6.0m | £3.0m | £5.0m | £3.0m | £1.0m |
| Capital spending | −£1.0m | −£1.0m | — | — | — | — | −£2.0m | — |
| Free cash flow | £0 | £7.0m | — | — | — | — | £1.0m | — |
| Total assets | £134.2m | £132.9m | £131.7m | £134.6m | £133.1m | £131.2m | £133.1m | £133.1m |
| Cash and short-term investments | £13.8m | £16.7m | £11.2m | £11.4m | £8.9m | £16.8m | £14.1m | £14.1m |
| Debt | £1.5m | £1.2m | £1.0m | £809,000 | £895,000 | £907,000 | £1.1m | — |
| Shareholders' equity | £67.5m | £68.0m | £72.0m | £71.9m | £74.2m | £75.7m | £74.9m | £57.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.0% | 10.9% | 9.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -3.7% | -0.7% | 0.6% | 2.3% |
| Net margin | -2.6% | -0.4% | 0.3% | 2.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -50.1 | -54.5 | 75.2 | 113.5 | 191.4 |
| Price to sales | 1.3 | 1.4 | 1.6 | 2.4 | 3.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 9 Oct 2025.
| FY2025 | FY2024 | |
|---|---|---|
| Paid in the year | 0.018 | 0.023 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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