RE: 4th December3 Dec 2025 10:52
Last years update -
Ahead of our interim results, which are due to be released on 30 January 2025, we are pleased to provide a summary of our financial performance for the 6 months to 31 October 2024.
The expected unaudited financial results for the half year are as follows:
· Revenue of £15.2m
· Adjusted EBITDA loss of £17.1m
· Net cash at the end of the first half of the year of £203m
View on the market and business:
· Market and regulatory environment: remain unchanged
· Sales pipeline: continues to grow, with near-term interest weighted towards NEPTUNE V
· Project delivery: obligations being met, with costs tightly controlled
· Product performance: in-field data achieving customer and ITM expectations
We update our FY25 guidance as follows:
· Revenue expected between £18m and £22m (unchanged)
· Adjusted EBITDA loss in the range of £32m to £36m (improved from £35m to £40m)
· Net cash at year-end in the range of £170m to £180m (improved from £160m to £175m)