T 
7.13p
0.00%
Close of 9 Nov 2026, in pence
Search any instrument
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
£73.2m
FY2016FY2025
Net income
−£63.8m
FY2016FY2025
Free cash flow
−£10.7m
FY2016FY2025
Shareholders' equity
−£28.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £73.2m | £103.1m | £104.6m | £72.9m | £44.9m | £33.6m | £77.1m | £48.8m | £44.4m | £35.7m |
| Research and development | — | — | £1.2m | £1.7m | — | £2.2m | £2.4m | — | — | — |
| Operating income | −£49.7m | −£6,000 | −£17.5m | −£14.1m | −£60.5m | −£26.2m | −£13.4m | −£11.4m | −£24.6m | −£17.9m |
| Net income | −£63.8m | −£4.6m | −£26.1m | −£19.6m | −£66.8m | −£30.2m | −£18.4m | −£14.6m | −£25.0m | −£18.5m |
| Diluted earnings per share | -0.16 | -0.01 | -0.08 | -0.06 | -0.20 | -0.11 | -0.12 | -0.11 | -0.19 | -0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £82.5m | £117.6m | £104.8m | £120.7m | £128.4m | £128.4m | £178.1m | £140.1m | £129.8m | £147.6m |
| Cash and short-term investments | £2.6m | £5.9m | £5.1m | £4.8m | £19.1m | £19.1m | £13.4m | £18.1m | £28.7m | £50.1m |
| Total liabilities | £110.9m | £88.8m | £73.7m | £65.4m | £59.6m | £59.6m | £100.2m | £53.3m | £32.2m | £25.3m |
| Debt | £88.9m | £62.7m | £54.7m | £49.4m | £46.0m | £46.0m | £75.7m | £31.1m | £13.1m | £6.0m |
| Shareholders' equity | −£28.3m | £28.8m | £31.1m | £55.3m | £68.9m | £68.9m | £82.8m | £88.8m | £98.8m | £122.5m |
| Shares outstanding | 393m | 362m | 322m | 336m | 336m | 284m | 152m | 134m | 133m | 131m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −£6.0m | £9.7m | £3.3m | −£7.0m | −£17.3m | −£19.3m | −£3.6m | −£13.3m | −£21.3m | −£16.3m |
| Capital spending | −£4.7m | −£10.6m | −£2.9m | −£1.9m | −£2.1m | −£5.2m | −£28.1m | −£17.9m | −£4.4m | −£3.5m |
| Free cash flow | −£10.7m | −£965,000 | £403,000 | −£9.0m | −£19.4m | −£24.5m | −£31.7m | −£31.2m | −£25.7m | −£19.8m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £39.8m | £22.4m | £50.9m | £50.6m | £52.5m | £50.8m | £25.4m | £53.8m |
| Operating income | −£321,000 | −£48.2m | −£2.6m | £103,000 | −£109,000 | −£13.0m | −£6.9m | −£14.5m |
| Net income | −£7.5m | −£56.9m | −£6.9m | £563,000 | −£5.2m | −£13.1m | −£6.5m | −£13.0m |
| Diluted earnings per share | -0.02 | -0.14 | -0.02 | 0.00 | -0.02 | -0.04 | -0.02 | -0.04 |
| Cash from operations | £1.0m | −£4.0m | — | £4.0m | £5.0m | £3.0m | — | — |
| Capital spending | −£2.0m | −£2.0m | −£4.0m | −£6.0m | −£3.0m | −£1.0m | — | −£1.0m |
| Free cash flow | −£1.0m | −£6.0m | — | −£2.0m | £2.0m | £2.0m | — | — |
| Total assets | £87.3m | £82.5m | £130.9m | £117.6m | £107.7m | £104.8m | £104.8m | £120.5m |
| Cash and short-term investments | £5.4m | £2.6m | £4.8m | £5.9m | £7.1m | £5.1m | £5.1m | £5.3m |
| Debt | £62.5m | £53.0m | £46.0m | £42.3m | £39.5m | £34.5m | £50.0m | £34.5m |
| Shareholders' equity | −£32.7m | −£28.3m | £25.4m | £28.8m | £26.8m | £31.1m | £31.1m | £43.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.1% | 16.9% | 9.9% |
| Operating income | 52.0% | 13.6% | 10.4% |
| Net income | 48.3% | 16.1% | 12.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -28.2% | -23.0% | -38.9% | -38.1% |
| Net margin | -38.8% | -32.2% | -48.8% | -46.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.6 | -40.6 | -6.6 | -6.4 | -2.9 | -3.3 | -9.9 | -6.4 | -6.8 | -9.7 |
| Price to sales | 0.5 | 1.8 | 1.6 | 1.7 | 4.4 | 3.0 | 2.4 | 1.9 | 3.8 | 5.0 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.