F 
248.00p
+5.53%
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
£163.7m
FY2017FY2026
Net income
−£1.5m
FY2017FY2026
Free cash flow
£31.1m
FY2017FY2026
Shareholders' equity
£111.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £163.7m | £168.9m | £158.5m | £178.5m | £183.7m | £173.9m | £130.1m | £84.7m | £75.1m | £66.1m |
| Gross profit | £73.1m | £69.7m | £70.5m | £84.8m | £83.3m | £84.1m | £59.9m | £35.8m | £31.7m | £26.4m |
| Research and development | £9.2m | — | £2.2m | £4.9m | £8.4m | £2.4m | £2.4m | £1.9m | £1.5m | £1.1m |
| Operating income | £1.4m | £9.9m | £5.7m | £24.3m | £28.7m | £35.8m | £7.9m | £12.8m | £11.9m | £9.5m |
| Net income | −£1.5m | £5.4m | £2.6m | £17.8m | £24.8m | £28.3m | £4.1m | £11.7m | £10.5m | £8.6m |
| Diluted earnings per share | -0.03 | 0.09 | 0.04 | 0.30 | 0.42 | 0.48 | 0.07 | 0.20 | 0.18 | 0.15 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £184.4m | £197.4m | £202.9m | £210.8m | £177.5m | £117.2m | £104.7m | £74.6m | £54.9m | £41.8m |
| Cash and short-term investments | £20.6m | £19.5m | £22.0m | £26.8m | £12.8m | £17.3m | £15.0m | £15.5m | £22.8m | £14.2m |
| Total liabilities | £73.4m | £79.5m | £87.0m | £92.3m | £72.2m | £32.9m | £47.8m | £21.2m | £11.5m | £8.9m |
| Debt | £35.3m | £30.3m | £42.9m | £37.9m | £23.5m | £248,000 | £13.5m | £627,000 | — | — |
| Shareholders' equity | £111.0m | £117.9m | £116.0m | £118.5m | £105.3m | £84.3m | £56.9m | £53.4m | £43.4m | £32.9m |
| Shares outstanding | 59m | 60m | 59m | 59m | 59m | 59m | 59m | 58m | 58m | 58m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £33.9m | £22.4m | £11.1m | £26.3m | £8.5m | £38.5m | £36.6m | £14.0m | £14.5m | £13.1m |
| Capital spending | −£2.7m | −£1.7m | −£14.2m | −£14.4m | −£12.5m | −£6.6m | −£9.6m | −£5.0m | −£4.5m | −£3.6m |
| Free cash flow | £31.1m | £20.7m | −£3.1m | £11.9m | −£4.0m | £31.9m | £27.0m | £9.0m | £10.0m | £9.4m |
| Dividends paid | −£5.1m | −£3.9m | −£3.9m | −£3.6m | −£3.2m | −£2.6m | −£2.3m | −£2.0m | −£1.7m | −£1.1m |
Latest quarters
By quarter end
| Feb 2026 | Aug 2025 | Feb 2025 | Aug 2024 | Feb 2024 | Aug 2023 | May 2023 | Feb 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £76.6m | £88.0m | £80.9m | £81.6m | £76.9m | £92.2m | £46.1m | £86.2m |
| Gross profit | £31.9m | £36.8m | £35.5m | £35.3m | £35.2m | £41.3m | £22.1m | £39.1m |
| Operating income | £2.8m | £6.8m | £3.1m | £1.0m | £4.7m | £13.3m | £6.1m | £12.7m |
| Net income | −£7.7m | £3.5m | £1.8m | £135,000 | £2.5m | £9.3m | £4.7m | £8.4m |
| Diluted earnings per share | -0.13 | 0.06 | 0.03 | 0.00 | 0.04 | 0.16 | 0.08 | 0.14 |
| Cash from operations | £11.0m | £17.0m | £5.0m | £23.0m | −£12.0m | £22.0m | — | £3.0m |
| Capital spending | −£1.0m | −£1.0m | −£1.0m | −£1.0m | −£2.0m | −£3.0m | — | −£2.0m |
| Free cash flow | £10.0m | £16.0m | £4.0m | £22.0m | −£14.0m | £19.0m | — | £1.0m |
| Total assets | £184.4m | £197.4m | £196.6m | £202.9m | £200.6m | £210.8m | £210.8m | £186.8m |
| Cash and short-term investments | £20.6m | £19.5m | £15.6m | £22.0m | £8.9m | £26.8m | £26.8m | £13.5m |
| Debt | — | — | £35.3m | £36.1m | £37.2m | £29.3m | — | £26.8m |
| Shareholders' equity | £111.0m | £117.9m | £115.0m | £116.0m | £118.3m | £118.5m | £118.5m | £110.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.8% | -1.2% | 11.7% |
| Operating income | -61.7% | -47.9% | -15.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 42.9% | 44.5% | 45.3% | 44.5% |
| Operating margin | 3.4% | 6.2% | 10.3% | 10.8% |
| Net margin | 1.2% | 3.6% | 7.5% | 8.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -89.8 | 25.4 | 58.4 | 19.6 | 19.7 | 30.4 | 154.3 | 32.2 | 26.4 | 21.7 |
| Price to sales | 0.8 | 0.8 | 1.0 | 1.9 | 2.7 | 4.9 | 4.8 | 4.4 | 3.7 | 2.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 11 years. Last went ex-dividend on 27 Nov 2025.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.021 | 0.126 | 0.066 | 0.063 | 0.056 | 0.044 | 0.039 | 0.035 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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