X 
1,588.00p
+1.53%
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
£230.1m
FY2016FY2025
Net income
−£11.4m
FY2016FY2025
Free cash flow
£32.4m
FY2016FY2025
Shareholders' equity
£172.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | £230.1m | £247.3m | £316.4m | £290.4m | £240.3m | £233.3m | £199.9m | £195.1m | £166.8m | £129.8m |
| Gross profit | £96.3m | £97.0m | £131.3m | £120.6m | £108.3m | £110.1m | £90.1m | £92.3m | £75.1m | £60.0m |
| Research and development | £21.5m | £19.9m | £26.5m | £27.9m | £16.8m | £15.9m | £13.0m | £11.4m | £6.3m | £3.9m |
| Operating income | £699,999 | £3.6m | £24.5m | £35.6m | £29.7m | £37.4m | £29.1m | £39.8m | £32.7m | £27.5m |
| Net income | −£11.4m | −£9.6m | −£9.2m | −£20.0m | £22.6m | £31.5m | £20.5m | £30.2m | £28.3m | £21.3m |
| Diluted earnings per share | -0.42 | -0.41 | -0.46 | -1.02 | 1.14 | 1.60 | 1.05 | 1.55 | 1.46 | 1.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | £423.7m | £416.2m | £446.3m | £481.7m | £272.2m | £242.2m | £233.4m | £234.3m | £171.6m | £138.9m |
| Cash and short-term investments | £33.8m | £13.9m | £12.0m | £22.3m | £9.0m | £13.9m | £11.2m | £11.8m | £15.3m | £9.2m |
| Total liabilities | £251.1m | £270.3m | £291.0m | £342.2m | £99.8m | £77.7m | £94.5m | £96.9m | £54.7m | £32.0m |
| Debt | £128.4m | £163.2m | £180.8m | £225.7m | £41.7m | £36.7m | £58.9m | £63.5m | £24.0m | £5.5m |
| Shareholders' equity | £172.1m | £145.3m | £154.6m | £138.6m | £171.5m | £163.8m | £138.2m | £136.4m | £116.0m | £106.1m |
| Shares outstanding | 27m | 24m | 20m | 20m | 20m | 20m | 20m | 20m | 19m | 19m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | £38.0m | £55.4m | £57.5m | −£2.0m | £36.4m | £45.6m | £46.2m | £26.7m | £29.7m | £27.9m |
| Capital spending | −£5.6m | −£20.1m | −£40.1m | −£19.4m | −£21.9m | −£14.9m | −£16.3m | −£7.9m | −£4.9m | −£2.6m |
| Free cash flow | £32.4m | £35.3m | £17.4m | −£21.4m | £14.5m | £30.7m | £29.9m | £18.8m | £24.8m | £25.3m |
| Dividends paid | −£100,000 | — | −£14.8m | −£18.6m | −£18.2m | −£7.3m | −£16.7m | −£15.3m | −£14.0m | −£12.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | £109.1m | £119.2m | £110.9m | £120.2m | £127.1m | £156.2m | £160.2m | £166.8m |
| Gross profit | £50.0m | £50.2m | £46.1m | £45.4m | £51.6m | £64.3m | £67.0m | £70.9m |
| Operating income | £6.6m | −£1.9m | £2.6m | £1.7m | £9.1m | £14.2m | £16.5m | £25.9m |
| Net income | £1.0m | −£9.5m | −£1.9m | −£11.7m | £2.1m | −£16.8m | £7.6m | £15.6m |
| Diluted earnings per share | 0.04 | -0.35 | -0.07 | -0.49 | 0.09 | -0.84 | 0.38 | 0.79 |
| Cash from operations | £6.0m | £30.0m | £7.0m | £19.0m | £23.0m | £24.0m | £20.0m | £6.0m |
| Capital spending | −£5.0m | −£5.0m | −£1.0m | −£2.0m | −£7.0m | −£26.0m | −£13.0m | −£9.0m |
| Free cash flow | £1.0m | £25.0m | £6.0m | £17.0m | £16.0m | −£2.0m | £7.0m | −£3.0m |
| Total assets | £426.4m | £423.7m | £406.9m | £416.2m | £432.0m | £446.3m | £475.9m | £481.7m |
| Cash and short-term investments | £14.8m | £33.8m | £17.6m | £13.9m | £13.0m | £12.0m | £25.5m | £22.3m |
| Debt | £2.1m | £78.8m | £78.5m | £110.5m | £120.1m | £127.5m | £177.3m | £176.8m |
| Shareholders' equity | £175.8m | £172.1m | £178.6m | £145.3m | £156.4m | £154.6m | £131.3m | £138.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.5% | -0.3% | 7.7% |
| Operating income | -73.0% | -54.9% | -30.2% |
| Net income | -17.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 40.5% | 41.1% | 42.6% | 43.8% |
| Operating margin | 0.9% | 5.9% | 8.4% | 12.1% |
| Net margin | -4.4% | -4.6% | 0.3% | 5.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.6 | -32.2 | -19.0 | -6.2 | 14.0 | 9.1 | 9.2 | 4.2 | 7.3 | 4.9 |
| Price to sales | 1.1 | 1.3 | 0.6 | 0.4 | 1.3 | 1.2 | 0.9 | 0.7 | 1.3 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 7 Sept 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.73 | 0.94 | 0.94 | 0.38 | 0.88 | 0.81 | 0.75 | 0.69 |
- 1-to-1 reverse split · 24 Apr 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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