S 
18.50p
-5.13%
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 USD, from our data supplier.
Revenue
$43.7m
FY2015FY2024
Net income
−$11.3m
FY2015FY2024
Free cash flow
−$3.4m
FY2015FY2024
Shareholders' equity
$43.7m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.7m | $49.5m | $59.2m | $37.9m | $21.6m | $40.9m | $42.9m | $35.8m | $30.5m | $25.1m |
| Research and development | $2.0m | $2.0m | $30.0m | $10.5m | $70,000 | $53.9m | $29.1m | $70,000 | $4.5m | $12.9m |
| Operating income | $5.5m | $7.9m | −$6.6m | −$2.3m | −$7.3m | −$47.2m | −$20.4m | $230,000 | −$11.9m | −$10.2m |
| Net income | −$11.3m | −$4.5m | −$11.8m | −$6.2m | −$53.1m | −$50.2m | −$21.3m | $15.5m | −$32.9m | −$44.8m |
| Diluted earnings per share | -0.09 | -0.04 | -0.09 | -0.05 | -0.43 | -0.41 | -0.18 | 0.13 | -2.15 | -2.96 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $134.0m | $145.3m | $149.0m | $168.4m | $167.0m | $199.5m | $244.9m | $254.9m | $248.2m | $255.2m |
| Cash and short-term investments | $4.7m | $3.9m | $3.1m | $3.3m | $2.4m | $8.2m | $15.1m | $15.7m | $24.9m | $28.6m |
| Total liabilities | $90.3m | $90.7m | $90.7m | $99.8m | $93.7m | $86.4m | $83.2m | $73.3m | $177.7m | $156.5m |
| Debt | $19.7m | $13.2m | $16.5m | $22.0m | $21.2m | $20.2m | $21.0m | $21.2m | $124.6m | $102.9m |
| Shareholders' equity | $43.7m | $54.6m | $58.3m | $68.6m | $73.3m | $113.1m | $161.7m | $181.6m | $70.5m | $98.8m |
| Shares outstanding | 129m | 128m | 126m | 125m | 123m | 122m | 121m | 124m | 15m | 15m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $2.3m | $17.2m | $18.1m | $7.1m | $3.6m | $12.0m | $12.9m | $6.7m | $12.4m | $960,000 |
| Capital spending | −$5.7m | −$8.5m | −$7.9m | −$4.8m | −$8.5m | −$6.4m | −$10.7m | −$6.3m | −$8.8m | −$9.4m |
| Free cash flow | −$3.4m | $8.7m | $10.2m | $2.3m | −$4.9m | $5.6m | $2.3m | $400,000 | $3.6m | −$8.4m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $18.3m | $20.4m | $23.2m | $25.7m | $23.8m | $11.9m | $28.7m | $14.4m |
| Operating income | $5.6m | −$884,000 | $4.4m | $1.7m | $6.1m | $2.0m | −$23.9m | −$11.9m |
| Net income | −$3.9m | −$9.8m | −$1.5m | −$5.0m | $530,000 | $267,000 | −$31.2m | −$15.6m |
| Diluted earnings per share | -0.03 | -0.08 | -0.01 | -0.04 | — | 0.00 | -0.25 | -0.12 |
| Total assets | $121.1m | $134.0m | $139.8m | $145.3m | $143.6m | $143.6m | $149.0m | $149.0m |
| Cash and short-term investments | $4.3m | $4.7m | $4.2m | $3.9m | $1.5m | $1.5m | $3.1m | $3.1m |
| Debt | $11.7m | $12.1m | $12.8m | $7.0m | $6.7m | $6.7m | $12.5m | $12.5m |
| Shareholders' equity | $39.3m | $43.7m | $53.3m | $54.6m | $59.3m | $59.3m | $58.3m | $58.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 4.8% | 1.3% | -2.8% |
| Net income | 21.9% | -25.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 14.3% | 2.3% | -19.8% | -22.8% |
| Net margin | -17.0% | -17.8% | -54.3% | -48.4% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.1 | -3.7 | -2.4 | -3.7 | -0.4 | -1.6 | -7.5 | 9.4 | -1.3 | -1.6 |
| Price to sales | 0.3 | 0.3 | 0.5 | 0.6 | 1.1 | 2.0 | 3.7 | 4.1 | 1.4 | 2.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 8-to-1 reverse split · 22 Nov 2021
- 50-to-1 reverse split · 31 Dec 2007
- 20-to-1 reverse split · 11 Apr 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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