Shearwater Group plc (AIM:SWG)

Shearwater Group Income Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Jun 30, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Revenue	34.94	31.64	24.44	26.69	35.88	31.77
Revenue Growth (YoY)	51.63%	29.48%	-8.43%	-25.62%	12.94%	-3.75%
Cost of Revenue	27.59	23.99	17.52	20.24	25.05	21.87
Gross Profit	7.35	7.65	6.92	6.45	10.82	9.9
Selling, General & Admin	14.78	14.98	6.55	12.88	6.44	6.54
Other Operating Expenses	-	-	-	-	0.03	-0.04
Operating Expenses	17.95	18.45	10.08	16.01	9.88	9.7
Operating Income	-10.6	-10.8	-3.16	-9.56	0.95	0.19
Interest Expense	-0.01	-0.01	-0.08	-0.08	-0.11	-0.2
Interest & Investment Income	0.11	0.11	0.02	-	-	0
EBT Excluding Unusual Items	-10.4	-10.7	-3.23	-9.63	0.84	-0
Other Unusual Items	-	-	-	-	0.1	0.04
Pretax Income	-10.4	-10.7	-3.23	-9.63	0.94	0.03
Income Tax Expense	-1.02	-1.12	-1.12	-1.46	1.23	-0.11
Net Income	-9.37	-9.57	-2.11	-8.18	-0.29	0.15
Net Income to Common	-9.37	-9.57	-2.11	-8.18	-0.29	0.15
Shares Outstanding (Basic)	24	24	24	24	24	24
Shares Outstanding (Diluted)	24	24	24	24	25	24
Shares Change (YoY)	-	-	0.03%	-3.66%	4.71%	7.30%
EPS (Basic)	-0.39	-0.40	-0.09	-0.34	-0.01	0.01
EPS (Diluted)	-0.39	-0.40	-0.09	-0.34	-0.01	0.01
Free Cash Flow	0.59	1.29	2.26	-0.13	-0.41	6.55
Free Cash Flow Per Share	0.03	0.05	0.10	-0.01	-0.02	0.28
Gross Margin	21.04%	24.19%	28.30%	24.17%	30.17%	31.15%
Operating Margin	-30.33%	-34.13%	-12.95%	-35.81%	2.64%	0.61%
Profit Margin	-26.83%	-30.26%	-8.63%	-30.63%	-0.81%	0.46%
Free Cash Flow Margin	1.70%	4.09%	9.24%	-0.49%	-1.15%	20.61%
EBITDA	-9.33	-9.13	-1.5	-7.88	2.62	1.89
EBITDA Margin	-26.71%	-28.86%	-6.14%	-29.54%	7.30%	5.94%
D&A For EBITDA	1.27	1.67	1.66	1.67	1.67	1.69
EBIT	-10.6	-10.8	-3.16	-9.56	0.95	0.19
EBIT Margin	-30.33%	-34.13%	-12.95%	-35.81%	2.64%	0.61%
Effective Tax Rate	-	-	-	-	131.20%	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.