T 
107.50p
+4.37%
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
£77.3m
FY2018FY2025
Net income
−£9.2m
FY2018FY2025
Free cash flow
£1.4m
FY2018FY2025
Shareholders' equity
£39.3m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £77.3m | £84.3m | £69.7m | £79.7m | £50.3m | £31.5m | £8.2m | — |
| Gross profit | £22.1m | £21.2m | £18.9m | £24.4m | £15.8m | £12.0m | £3.3m | — |
| Operating income | −£1.3m | −£5.2m | −£4.5m | £6.0m | −£610,000 | −£2.5m | −£275,000 | −£273,000 |
| Net income | −£9.2m | −£20.4m | −£17.6m | £97,000 | −£2.2m | −£3.0m | −£1.7m | −£480,000 |
| Diluted earnings per share | -0.10 | -0.22 | -0.21 | 0.01 | -0.03 | -0.06 | -0.09 | -0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | £66.9m | £82.9m | £115.1m | £125.7m | £104.5m | £60.4m | £35.9m | £167,000 |
| Cash and short-term investments | £4.6m | £8.9m | £6.8m | £7.9m | £5.7m | £4.6m | £5.7m | £126,000 |
| Total liabilities | £27.6m | £35.1m | £48.4m | £47.1m | £43.8m | £33.2m | £16.6m | £157,000 |
| Debt | £14.5m | £17.8m | £25.8m | £19.3m | £13.4m | £6.0m | — | — |
| Shareholders' equity | £39.3m | £47.8m | £66.7m | £78.6m | £60.7m | £27.3m | £19.3m | £10,000 |
| Shares outstanding | 90m | 90m | 90m | 88m | 64m | 48m | 18m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | £1.4m | £7.5m | −£1.8m | £6.6m | £5.6m | £2.7m | −£1.2m | −£364,000 |
| Capital spending | — | −£207,000 | −£584,000 | −£541,000 | −£458,000 | −£327,000 | −£33,000 | — |
| Free cash flow | £1.4m | £7.3m | −£2.4m | £6.1m | £5.2m | £2.4m | −£1.2m | −£364,000 |
| Dividends paid | — | — | −£815,000 | −£603,000 | −£138,000 | — | — | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Dec 2022 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £36.2m | £39.6m | £37.8m | £42.6m | £41.6m | £35.6m | £21.7m | £34.1m |
| Gross profit | £11.2m | £11.4m | £10.7m | £10.3m | £10.9m | £9.5m | £5.2m | £9.3m |
| Operating income | −£442,000 | £613,000 | −£1.9m | −£4.1m | −£2.8m | −£3.8m | −£8.1m | −£2.4m |
| Net income | −£1.4m | −£5.9m | −£3.3m | −£13.4m | −£7.0m | −£15.1m | −£7.6m | −£2.5m |
| Diluted earnings per share | -0.02 | -0.07 | -0.04 | -0.14 | -0.07 | -0.17 | -0.09 | -0.04 |
| Total assets | £56.2m | £66.9m | £72.7m | £82.9m | £99.8m | £115.1m | £115.1m | £124.6m |
| Cash and short-term investments | — | £4.6m | £4.2m | £8.9m | £7.2m | £6.8m | £6.8m | £6.2m |
| Debt | £7.3m | £13.6m | £12.9m | £17.1m | £21.4m | £25.2m | £25.2m | £21.2m |
| Shareholders' equity | £38.6m | £39.3m | £45.0m | £47.8m | £60.4m | £66.7m | £66.7m | £82.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.0% | 19.7% | — |
| Operating income | — | -12.9% | — |
| Net income | — | 24.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.8% | 27.8% | 29.1% | — |
| Operating margin | -4.0% | -1.6% | -2.1% | — |
| Net margin | -18.3% | -15.1% | -13.3% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -2.1 | -1.9 | -2.1 | 284.1 | -14.8 | -6.3 |
| Price to sales | 0.3 | 0.5 | 0.5 | 0.3 | 0.7 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Jan 2023.
| FY2023 | FY2022 | FY2021 | |
|---|---|---|---|
| Paid in the year | 0.009 | 0.01 | 0.002 |
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.