Income Statement | | | | | | | | | | |
| | | | | | | Press Release | | | |
GBP | Fiscal Year Ending | | Latest | | Year-to-date Ending |
(in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 | | Dec-23 | Dec-24 |
| FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM | | YTD-1 | YTD |
| | | | | | | | | | |
Revenue | 1,163 | 1,735 | 1,975 | 2,030 | 2,072 | | 2,072 | | 2,030 | 2,072 |
% Growth | NA | 49.2% | 13.8% | 2.8% | 2.1% | | | | | 2.1% |
| | | | | | | | | | |
Cost of Revenue | (815) | (1,240) | (1,332) | (1,304) | (1,305) | | (1,305) | | (1,304) | (1,305) |
Gross Profit | 348 | 495 | 643 | 726 | 767 | | 767 | | 726 | 767 |
% Revenue | 29.9% | 28.5% | 32.6% | 35.8% | 37.0% | | 37.0% | | 35.8% | 37.0% |
| | | | | | | | | | |
Research and Development | (33) | (64) | (107) | (107) | (101) | | (101) | | (107) | (101) |
Selling and Marketing | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
General and Admin | (548) | (732) | (814) | (784) | (770) | | (770) | | (784) | (770) |
Other Inc / (Exp) | 21 | 20 | 38 | 122 | 91 | | 91 | | 122 | 91 |
Total Operating Exp | (560) | (776) | (882) | (769) | (780) | | (780) | | (769) | (780) |
| | | | | | | | | | |
Operating Income | (212) | (281) | (239) | (43) | (14) | | (14) | | (43) | (14) |
% Revenue | -18.3% | -16.2% | -12.1% | -2.1% | -0.7% | | -0.7% | | -2.1% | -0.7% |
| | | | | | | | | | |
Interest Expense | (0) | (1) | 8 | 32 | 26 | | 26 | | 32 | 26 |
Pre-tax Income | (213) | (282) | (231) | (11) | 12 | | 12 | | (11) | 12 |
Earnings of Discontinued Ops. | (18) | (41) | (52) | (13) | 3 | | 3 | | (13) | 3 |
Provision for Taxes | 4 | (7) | (12) | (8) | (12) | | (12) | | (8) | (12) |
Net Income to Company | (226) | (331) | (294) | (32) | 3 | | 3 | | (32) | 3 |
% Margin | -19.5% | -19.0% | -14.9% | -1.6% | 0.1% | | 0.1% | | -1.6% | 0.1% |
| | | | | | | | | | |
Minority Interest in Earnings | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Net Income to Stockholders | (226) | (331) | (294) | (32) | 3 | | 3 | | (32) | 3 |
| | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Other Adj. | 18 | 41 | 52 | 13 | (3) | | (3) | | 13 | (3) |
| | | | | | | | | | |
Net Income to Common | (208) | (289) | (243) | (19) | (0) | | (0) | | (19) | (0) |
% Margin | -17.9% | -16.7% | -12.3% | -0.9% | 0.0% | | 0.0% | | -0.9% | 0.0% |
| | | | | | | | | | |
As Reported | | | | | | | | | | |
Basic EPS (Continuing Ops) | (0.15) | (0.17) | (0.13) | (0.01) | (0.00) | | (0.00) | | (0.01) | (0.00) |
Diluted EPS (Continuing Ops) | (0.15) | (0.17) | (0.13) | (0.01) | (0.00) | | (0.00) | | (0.01) | (0.00) |
| | | | | | | | | | |
WA Basic Shares Out. | 1,348.39 | 1,707.65 | 1,836.84 | 1,731.47 | 1,617.59 | | 1,617.59 | | 1,731.47 | 1,617.59 |
WA Diluted Shares Out. | 1,348.39 | 1,707.65 | 1,836.84 | 1,731.47 | 1,617.59 | | 1,617.59 | | 1,731.47 | 1,617.59 |
| | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | |
EBT, Incl. Unusual Items | (213) | (282) | (231) | (11) | 12 | | 12 | | (11) | 12 |
Addback: Net Interest Expense | 0 | 1 | (8) | (32) | (26) | | (26) | | (32) | (26) |
Addback: Other Non Operating Expenses, Total | 4 | (9) | (7) | (1) | 1 | | 1 | | (1) | 1 |
Addback: Depreciation & Amortization | 8 | 9 | 13 | 13 | 12 | | 12 | | 13 | 12 |
Addback: Restructuring Charges | 0 | 0 | 7 | 6 | 0 | | 0 | | 6 | 0 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Asset Writedown | 0 | 0 | 0 | 0 | 2 | | 2 | | 0 | 2 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Other Unusual Items | (3) | 39 | 64 | (20) | 12 | | 12 | | (20) | 12 |
Adjusted EBITDA | (204) | (242) | (162) | (45) | 14 | | 14 | | (45) | 14 |
% Margin | -17.5% | -13.9% | -8.2% | -2.2% | 0.7% | | 0.7% | | -2.2% | 0.7% |
| | | | | | | | | | |
Adjusted EBIT | (212) | (251) | (175) | (58) | 2 | | 2 | | (58) | 2 |
% Margin | -18.2% | -14.5% | -8.9% | -2.8% | 0.1% | | 0.1% | | -2.8% | 0.1% |
| | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | |
Net Income to Company | (226) | (331) | (294) | (32) | 3 | | 3 | | (32) | 3 |
Addback: Unusual Items | (3) | 39 | 70 | (14) | 14 | | 14 | | (14) | 14 |
Less: Tax Benefit of Unusual Items (26%) | 1 | (10) | (18) | 4 | (4) | | (4) | | 4 | (4) |
Adjusted Net Income | (229) | (301) | (242) | (42) | 13 | | 13 | | (42) | 13 |
% Margin | -19.7% | -17.4% | -12.3% | -2.1% | 0.6% | | 0.6% | | -2.1% | 0.6% |