£455.00 ($6.02)

-1.00 (-0.22%)

Weekly Expected Move ±3.6%

£424 £440 £456 £472 £488

LSE · Financial Services · Asset Management · Tech Score Neutral · Power 52 · £503.7M mcap · 73M float · 0.476% daily turnover

Revenue

$165M +7.3% ▲

5Y CAGR: +19.1%

Gross Profit

$141M -3.9% ▼

5Y CAGR: +16.9%

Operating Income

$54M +34.8% ▲

5Y CAGR: +28.3%

Net Income

$43M +28.8% ▲

5Y CAGR: +23.1%

EPS (Diluted)

$0.38 +35.7% ▲

5Y CAGR: +22.1%

EBITDA

$63M +31.0% ▲

5Y CAGR: +28.1%

View Full Income Statement

Line Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$86M	$119M	$141M	$154M	$165M
YoY Growth	+24.9%	+38.0%	+18.6%	+9.0%	+7.3%
Cost of Revenue	$9M	$12M	$7M	$8M	$25M
Gross Profit	$78M	$108M	$134M	$146M	$141M
Gross Margin	90.0%	90.3%	94.8%	94.9%	85.0%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$51M	$77M	$20M	$22M	$0
Operating Expenses	$50M	$77M	$101M	$106M	$86M
Operating Income	$27M	$31M	$33M	$40M	$54M
Operating Margin	31.6%	25.7%	23.4%	26.1%	32.7%
Interest Expense	$653K	$854K	$564K	$1M	$2M
Income Before Tax	$28M	$27M	$34M	$41M	$54M
Tax Expense	$3M	$4M	$8M	$7M	$8M
Net Income	$25M	$24M	$26M	$33M	$43M
Net Margin	29.0%	19.8%	18.7%	21.6%	25.9%
EPS (Diluted)	$0.23	$0.21	$0.22	$0.28	$0.38
EBITDA	$31M	$36M	$41M	$48M	$63M
Shares Outstanding	109M	114M	119M	119M	114M

Line Item	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2	FY2026 Q4
Revenue	$51M	$68M	$68M	$73M	$73M	$81M	$82M	$84M
Cost of Revenue	$5M	$7M	$4M	$4M	$4M	$4M	$13M	$12M
Gross Profit	$46M	$62M	$64M	$70M	$69M	$77M	$68M	$72M
Gross Margin	90.1%	90.5%	94.7%	94.9%	94.9%	95.0%	83.8%	86.2%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$29M	$49M	$48M	$43M	$42M	$52M	$0	$0
Operating Expenses	$34M	$51M	$51M	$49M	$54M	$52M	$46M	$40M
Operating Income	$17M	$14M	$13M	$23M	$15M	$25M	$22M	$32M
Operating Margin	33.7%	19.9%	18.8%	31.7%	20.9%	30.7%	27.6%	37.9%
Interest Expense	$490K	$364K	$0	$0	$0	$0	$756K	$1M
Income Before Tax	$25M	$2M	$13M	$21M	$16M	$25M	$23M	$31M
Tax Expense	$2M	$2M	$5M	$3M	$3M	$4M	$4M	$4M
Net Income	$23M	$279K	$8M	$18M	$13M	$21M	$18M	$24M
Net Margin	46.0%	0.4%	12.5%	24.4%	17.3%	25.5%	22.6%	29.2%
EPS (Diluted)	$0.21	$0.00	$0.07	$0.15	$0.11	$0.17	$0.16	$0.22
EBITDA	$19M	$17M	$16M	$24M	$28M	$20M	$27M	$36M
Shares Outstanding	109M	116M	119M	119M	119M	118M	116M	114M

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