T 
13.00p
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 USD, from our data supplier.
Revenue
$36.3m
FY2017FY2025
Net income
−$3.3m
FY2017FY2025
Free cash flow
$12.9m
FY2017FY2025
Shareholders' equity
$35.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.3m | $34.7m | $44.7m | $63.3m | $52.2m | $37.6m | $28.0m | $24.8m | $11.9m |
| Gross profit | $8.4m | −$334,000 | −$22.5m | $42.6m | $34.0m | $22.5m | $14.3m | $10.9m | $5.8m |
| Research and development | — | — | $46.9m | $5.9m | $3.8m | $4.5m | $2.2m | $135,000 | $207,000 |
| Operating income | $4.0m | −$20.4m | −$63.8m | $15.9m | $12.5m | $7.7m | −$2.6m | $4.2m | $459,000 |
| Net income | −$3.3m | −$20.5m | −$62.5m | $11.5m | $8.3m | $4.9m | −$4.5m | $2.5m | −$233,000 |
| Diluted earnings per share | -0.01 | -0.05 | -0.31 | 0.06 | 0.04 | 0.03 | -0.03 | 0.01 | -0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | $46.5m | $53.9m | $69.1m | $133.8m | $120.4m | $47.2m | $35.0m | $14.8m | $7.9m |
| Cash and short-term investments | $4.6m | $3.1m | $2.5m | $26.5m | $48.8m | $26.3m | $17.0m | $3.9m | $2.6m |
| Total liabilities | $11.5m | $15.0m | $21.0m | $22.2m | $23.9m | $8.5m | $7.1m | $5.2m | $2.8m |
| Debt | $71,025 | $382,000 | $378,000 | $367,000 | $538,000 | $639,000 | $798,000 | $102,000 | $99,000 |
| Shareholders' equity | $35.7m | $39.3m | $48.5m | $111.6m | $96.3m | $38.6m | $27.8m | $9.4m | $5.1m |
| Shares outstanding | 395m | 397m | 204m | 205m | 198m | 183m | 137m | 202m | 202m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $12.9m | $6.3m | $10.9m | $19.3m | $13.3m | $16.5m | $11.7m | $4.5m | $1.1m |
| Capital spending | −$56,154 | −$19.3m | −$32.1m | −$41.2m | −$25.9m | −$7.1m | −$11.4m | −$2.8m | −$2.0m |
| Free cash flow | $12.9m | −$13.0m | −$21.2m | −$21.9m | −$12.6m | $9.3m | $302,000 | $1.7m | −$877,000 |
| Dividends paid | — | — | — | — | — | — | — | −$300,000 | −$200,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $19.6m | $18.6m | $17.0m | $15.9m | $18.8m | $9.4m | $21.4m | $10.7m |
| Gross profit | $4.8m | $2.3m | $10.4m | −$4.4m | $4.1m | $2.1m | −$13.7m | −$6.8m |
| Operating income | $1.1m | −$305,459 | $3.6m | −$14.2m | −$6.2m | −$3.1m | −$31.8m | −$12.8m |
| Net income | $872,443 | −$5.9m | $2.7m | −$13.9m | −$6.6m | −$3.3m | −$37.0m | −$18.5m |
| Diluted earnings per share | 0.00 | -0.01 | 0.01 | -0.04 | -0.02 | -0.01 | -0.18 | -0.09 |
| Cash from operations | $6.0m | $5.0m | $6.0m | $2.0m | — | — | $2.0m | $2.0m |
| Total assets | $48.4m | $46.5m | $50.1m | $53.9m | $69.9m | $69.9m | $69.1m | $69.1m |
| Cash and short-term investments | $4.7m | $4.6m | $4.6m | $3.1m | $9.2m | $9.2m | $2.5m | $2.5m |
| Debt | $24,123 | $71,000 | $90,000 | $164,000 | $185,000 | $185,000 | $232,000 | $232,000 |
| Shareholders' equity | $37.5m | $35.7m | $42.2m | $39.3m | $53.3m | $53.3m | $48.5m | $48.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.9% | -0.7% | — |
| Operating income | -37.1% | -12.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.4% | 15.7% | 31.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | -11.3 | -1.5 | -0.2 | 1.2 | 2.1 |
| Price to sales | 1.0 | 0.9 | 0.3 | 0.2 | 0.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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