Y 
515.00p
+1.98%
Close of 6 Nov 2026, in pence
At a glance
Figures in USD, from our data supplier.
Revenue
$434.3m
FY2019FY2026
Net income
$412.8m
FY2019FY2026
Free cash flow
−$19.2m
FY2019FY2026
Shareholders' equity
$2.11bn
FY2019FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $434.3m | −$456.1m | $735.0m | −$96.9m | −$6.0m | $1.3m | $15.9m | $31.2m |
| Operating income | −$18.0m | −$471.3m | $722.9m | $90.2m | $419.9m | $32.4m | −$18.3m | −$3.5m |
| Net income | $412.8m | −$469.2m | $727.0m | −$296.1m | $417.3m | $29.9m | $12.5m | $29.5m |
| Diluted earnings per share | 1.63 | -2.16 | 3.35 | -1.31 | 2.59 | 0.33 | 0.14 | 0.34 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.11bn | $1.42bn | $1.89bn | $1.04bn | $1.07bn | $428.4m | $270.1m | $226.1m |
| Cash and short-term investments | $174.1m | $20.0m | $133.2m | $84.4m | $153.1m | $126.2m | $6.5m | $8.8m |
| Total liabilities | $5.4m | $3.4m | $3.5m | $1.9m | $970,000 | $7.0m | $3.0m | $3.2m |
| Shareholders' equity | $2.11bn | $1.41bn | $1.88bn | $1.04bn | $1.07bn | $421.4m | $267.1m | $222.9m |
| Shares outstanding | 253m | 217m | 217m | 226m | 161m | 89m | 88m | 87m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | −$9.6m | −$13.2m | −$6.5m | −$5.2m | −$9.2m | $509,000 | −$3.4m | −$6.1m |
| Capital spending | −$9.6m | — | — | — | — | — | — | — |
| Free cash flow | −$19.2m | −$13.2m | −$6.5m | −$5.2m | −$9.2m | $509,000 | −$3.4m | −$6.1m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | −$375.1m | −$81.0m | $272.1m | $462.9m | $45.1m | −$1.5m |
| Operating income | −$11.0m | −$7.6m | −$382.1m | −$89.2m | $262.2m | $460.8m | $40.4m | −$3.1m |
| Net income | $45.6m | $374.2m | −$381.6m | −$87.6m | $268.2m | $458.8m | $42.5m | $211.7m |
| Diluted earnings per share | 0.18 | 1.72 | -1.76 | -0.40 | 1.24 | 2.03 | 0.19 | 1.31 |
| Cash from operations | −$7.0m | −$5.0m | −$6.0m | −$6.0m | −$71.0m | $65.0m | −$2.0m | −$2.0m |
| Capital spending | −$7.0m | — | — | — | — | — | — | — |
| Free cash flow | −$14.0m | — | — | — | — | — | — | — |
| Total assets | $2.11bn | $1.96bn | $1.42bn | $1.80bn | $1.89bn | $1.56bn | $1.04bn | $267.5m |
| Cash and short-term investments | $174.1m | $184.2m | $20.0m | $26.5m | $133.2m | $83.3m | $84.4m | $38.3m |
| Shareholders' equity | $2.11bn | $1.96bn | $1.41bn | $1.80bn | $1.88bn | $1.49bn | $1.04bn | $267.3m |
Financial ratios
Data as of 29 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 95.8% | 103.3% | 98.4% | -93.1% | -7010.9% | 2164.0% | — |
| Net margin | 95.1% | 102.9% | 98.9% | 305.6% | -7003.5% | 2257.4% | — |
| Return on equity | 19.6% | -33.2% | 38.6% | -28.6% | 39.0% | 7.1% | — |
| Return on assets | 19.5% | -33.1% | 38.5% | -28.5% | 39.0% | 7.0% | — |
| Free cash flow yield | 0.0% | — | — | — | — | — | — |
| Revenue growth | -195.2% | -162.1% | -858.5% | 1526.4% | -549.7% | -91.7% | — |
| Earnings growth | -188.0% | -164.5% | -345.5% | -171.0% | 1295.0% | 139.1% | — |
| Current ratio | 32.58x | 6.00x | 37.70x | 43.91x | 158.01x | 18.09x | — |
| Equity ratio | 99.7% | 99.8% | 99.8% | 99.8% | 99.9% | 98.4% | — |
| Interest coverage | — | — | — | 0.47x | 37973.55x | 9557.67x | -176.02x |
| Buybacks as a share of market value | -16.2% | -0.2% | 3.8% | -40.2% | -80.3% | -1.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | — | 218.5% | — |
| Net income | — | 69.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 2239.7% | 52.5% | 126.9% | — |
| Net margin | 258.2% | 60.8% | 134.3% | — |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.3 | -3.7 | 2.0 | -6.3 | 1.9 | 13.6 | 23.4 | 8.0 |
| Price to sales | 4.0 | -3.8 | 2.0 | -19.4 | -135.9 | 307.5 | 18.4 | 7.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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