X 
135.00p
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 GBP, from our data supplier.
Revenue
£60.1m
FY2016FY2025
Net income
−£3.4m
FY2016FY2025
Free cash flow
−£156,000
FY2016FY2025
Shareholders' equity
£56.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £60.1m | £61.4m | £70.6m | £72.8m | £59.3m | £48.0m | £49.4m | £63.5m | £100.1m | £96.2m |
| Research and development | £4.7m | £5.3m | £5.6m | £6.7m | £5.7m | £4.5m | £3.5m | £14.7m | £12.3m | £12.2m |
| Operating income | −£843,000 | −£11.1m | −£2.0m | £1.7m | £1.5m | −£4.4m | −£8.4m | −£15.1m | £12.1m | £17.4m |
| Net income | −£3.4m | −£10.7m | −£2.2m | £1.6m | £16.2m | −£11.7m | −£71.9m | −£12.3m | £10.9m | £14.8m |
| Diluted earnings per share | -0.04 | -0.14 | -0.03 | 0.02 | 0.21 | -0.15 | -0.93 | -0.16 | 0.14 | 0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £78.3m | £80.7m | £97.3m | £102.4m | £103.9m | £73.5m | £87.9m | £153.0m | £169.8m | £158.5m |
| Cash and short-term investments | £7.2m | £10.6m | £9.5m | £9.1m | £25.1m | £18.1m | £25.3m | £27.9m | £44.7m | £50.3m |
| Total liabilities | £22.0m | £18.5m | £25.4m | £30.7m | £35.1m | £17.4m | £17.2m | £21.1m | £22.6m | £18.0m |
| Debt | £5.4m | £6.5m | £10.1m | £9.2m | £9.2m | £2.6m | £4.0m | £33,000 | £30,000 | £69,000 |
| Shareholders' equity | £56.3m | £62.2m | £71.8m | £71.8m | £68.8m | £52.4m | £63.9m | £129.7m | £147.2m | £140.5m |
| Shares outstanding | 80m | 79m | 78m | 78m | 78m | 78m | 77m | 77m | 78m | 79m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £1.8m | £6.6m | −£449,000 | −£5.5m | −£2.1m | −£2.8m | −£9.8m | −£9.9m | £12.5m | £13.9m |
| Capital spending | −£1.9m | −£1.0m | −£1.9m | −£5.4m | −£1.9m | −£1.1m | −£3.4m | −£5.0m | −£12.0m | −£21.1m |
| Free cash flow | −£156,000 | £5.6m | −£2.4m | −£10.9m | −£4.0m | −£3.9m | −£13.2m | −£14.9m | £486,000 | −£7.2m |
| Dividends paid | — | — | — | −£346,000 | — | — | — | −£6.0m | −£7.7m | −£7.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £29.7m | £32.8m | £27.2m | £32.8m | £25.5m | £36.1m | £34.5m | £36.2m |
| Operating income | £688,000 | £1.1m | −£1.9m | −£425,000 | −£2.0m | £16,000 | −£2.0m | −£685,000 |
| Net income | −£1.8m | −£280,000 | −£3.1m | −£8.1m | −£2.6m | −£826,000 | −£1.3m | £1.3m |
| Diluted earnings per share | -0.02 | -0.00 | -0.04 | -0.10 | -0.03 | -0.01 | -0.02 | 0.02 |
| Cash from operations | −£3.0m | £2.0m | — | £2.0m | £3.0m | £2.0m | −£2.0m | £1.0m |
| Capital spending | −£1.0m | −£1.0m | — | — | — | — | −£1.0m | −£3.0m |
| Free cash flow | −£4.0m | £1.0m | — | — | — | — | −£3.0m | −£2.0m |
| Total assets | £78.1m | £78.3m | £75.0m | £80.7m | £95.5m | £97.3m | £102.1m | £102.4m |
| Cash and short-term investments | £3.5m | £7.2m | £6.8m | £10.6m | £9.1m | £9.5m | £7.4m | £9.1m |
| Debt | £4.1m | £1.2m | £948,000 | £1.8m | £3.5m | £3.2m | £2.9m | £1.4m |
| Shareholders' equity | £54.3m | £56.3m | £58.6m | £62.2m | £70.1m | £71.8m | £71.3m | £71.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.2% | 4.6% | -4.3% |
| Operating income | — | -28.1% | — |
| Net income | — | -21.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.8% | -4.6% | -4.1% | 0.5% |
| Net margin | -11.6% | -5.5% | -2.7% | -7.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -25.0 | -5.3 | -42.0 | 92.8 | 8.7 | -11.8 | -0.6 | -5.6 | 16.2 | 13.1 |
| Price to sales | 1.4 | 0.9 | 1.3 | 2.1 | 2.4 | 2.9 | 0.9 | 1.1 | 1.8 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Sept 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.078 | 0.101 | 0.096 | 0.102 | 0.094 | 0.061 | 0.033 | 0.028 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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