Frontier Developments Income Statement

Financials in millions GBP. Fiscal year is June - May.

Millions GBP. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Revenue	102.94	90.6	89.27	104.58	114.03	90.69
Revenue Growth (YoY)	15.81%	1.49%	-14.64%	-8.29%	25.74%	19.19%
Cost of Revenue	34.5	27.26	27.95	37.23	40.42	27.54
Gross Profit	68.44	63.34	61.32	67.35	73.61	63.15
Selling, General & Admin	23.72	22.63	25.29	26.07	25.9	21.21
Research & Development	33.03	31.97	50.95	49.74	38.78	22.03
Other Operating Expenses	-0.33	-	-	-	-	-
Operating Expenses	56.42	54.6	76.25	75.81	64.68	43.23
Operating Income	12.01	8.74	-14.93	-8.46	8.93	19.92
Interest Expense	-0.98	-1.03	-0.84	-	-0.59	-0.73
Interest & Investment Income	1.06	0.8	0.83	0.07	-	-
EBT Excluding Unusual Items	12.1	8.51	-14.94	-8.39	8.34	19.19
Merger & Restructuring Charges	-	-	-1.41	-	-	-
Gain (Loss) on Sale of Assets	3.53	3.53	4.85	-	-	-
Asset Writedown	-	-	-16.93	-18.12	-7.4	-
Other Unusual Items	0.38	0.38	-	-	-	-
Pretax Income	16.01	12.42	-28.43	-26.51	0.94	19.19
Income Tax Expense	-4	-3.97	-6.95	-5.6	-8.68	-2.37
Net Income	20	16.39	-21.47	-20.91	9.63	21.56
Net Income to Common	20	16.39	-21.47	-20.91	9.63	21.56
Net Income Growth	24.81%	-	-	-	-55.34%	35.64%
Shares Outstanding (Basic)	38	39	39	39	39	39
Shares Outstanding (Diluted)	40	40	39	39	41	40
Shares Change (YoY)	2.60%	4.29%	-1.07%	-3.89%	0.33%	0.38%
EPS (Basic)	0.53	0.42	-0.56	-0.54	0.25	0.55
EPS (Diluted)	0.50	0.41	-0.56	-0.54	0.24	0.53
EPS Growth	21.51%	-	-	-	-55.54%	35.28%
Free Cash Flow	49.07	41.17	30.67	46.54	38.66	37.58
Free Cash Flow Per Share	1.22	1.02	0.79	1.19	0.95	0.93
Gross Margin	66.48%	69.92%	68.69%	64.40%	64.55%	69.63%
Operating Margin	11.67%	9.65%	-16.72%	-8.09%	7.83%	21.96%
Profit Margin	19.43%	18.09%	-24.05%	-19.99%	8.44%	23.77%
Free Cash Flow Margin	47.67%	45.44%	34.35%	44.50%	33.90%	41.44%
EBITDA	16.26	10	-11.32	-4.84	12.61	21.14
EBITDA Margin	15.80%	11.04%	-12.68%	-4.63%	11.06%	23.31%
D&A For EBITDA	4.25	1.26	3.61	3.63	3.68	1.22
EBIT	12.01	8.74	-14.93	-8.46	8.93	19.92
EBIT Margin	11.67%	9.65%	-16.72%	-8.09%	7.83%	21.96%

Updated Nov 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.