Also trades as: FQVTF (OTC) · $vol 0M

£833.50 ($11.03)

+1.00 (+0.12%)

Weekly Expected Move ±5.2%

£747 £790 £834 £877 £920

LSE · Consumer Defensive · Beverages - Non-Alcoholic · Tech Score Neutral · Power 49 · £936.4M mcap · 92M float · 0.401% daily turnover

Revenue

$325M -11.8% ▼

5Y CAGR: +5.2%

Gross Profit

$107M -22.5% ▼

5Y CAGR: -1.6%

Operating Income

$30M -9.5% ▼

5Y CAGR: -10.4%

Net Income

$23M -7.4% ▼

5Y CAGR: -11.5%

EPS (Diluted)

$0.19 -9.5% ▼

5Y CAGR: -12.0%

EBITDA

$37M -19.3% ▼

5Y CAGR: -7.9%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$311M	$344M	$364M	$368M	$325M
YoY Growth	+23.4%	+10.7%	+5.8%	+1.1%	-11.8%
Cost of Revenue	$180M	$226M	$255M	$230M	$218M
Gross Profit	$131M	$119M	$109M	$138M	$107M
Gross Margin	42.1%	34.5%	29.9%	37.6%	33.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$75M	$88M	$88M	$106M	$78M
Operating Expenses	$75M	$88M	$88M	$106M	$78M
Operating Income	$56M	$31M	$21M	$33M	$30M
Operating Margin	18.0%	8.9%	5.7%	8.9%	9.1%
Interest Expense	$300K	$400K	$600K	$600K	$400K
Income Before Tax	$56M	$31M	$22M	$36M	$30M
Tax Expense	$11M	$6M	$7M	$11M	$7M
Net Income	$45M	$25M	$15M	$24M	$23M
Net Margin	14.3%	7.2%	4.2%	6.6%	7.0%
EPS (Diluted)	$0.38	$0.21	$0.13	$0.21	$0.19
EBITDA	$61M	$37M	$31M	$46M	$37M
Shares Outstanding	117M	117M	117M	117M	121M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$183M	$176M	$189M	$173M	$196M	$144M	$181M	$165M
Cost of Revenue	$128M	$126M	$130M	$115M	$125M	$94M	$124M	$115M
Gross Profit	$55M	$50M	$59M	$58M	$71M	$51M	$56M	$50M
Gross Margin	30.2%	28.3%	31.4%	33.4%	36.3%	35.2%	31.3%	30.5%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$42M	$46M	$42M	$46M	$45M	$39M	$39M	$37M
Operating Expenses	$42M	$49M	$39M	$46M	$60M	$39M	$39M	$37M
Operating Income	$13M	$600K	$20M	$12M	$26M	$12M	$18M	$13M
Operating Margin	7.2%	0.3%	10.7%	7.1%	13.1%	8.3%	9.8%	8.0%
Interest Expense	$300K	$300K	$300K	$300K	$300K	$100K	$300K	$200K
Income Before Tax	$13M	$1M	$21M	$13M	$22M	$11M	$19M	$15M
Tax Expense	$3M	$300K	$6M	$6M	$6M	$3M	$4M	$4M
Net Income	$11M	$1M	$14M	$8M	$17M	$8M	$14M	$11M
Net Margin	5.9%	0.6%	7.6%	4.4%	8.6%	5.8%	7.9%	6.7%
EPS (Diluted)	$0.09	$0.01	$0.12	$0.06	$0.14	$0.07	$0.12	$0.10
EBITDA	$17M	$6M	$25M	$18M	$28M	$15M	$21M	$18M
Shares Outstanding	117M	117M	117M	117M	117M	123M	116M	116M

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