Blackbird Ratios and Metrics

Market cap in millions GBP. Fiscal year is January - December.

Millions GBP. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	Apr '26 Apr 29, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Market Capitalization	10	11	18	22	53	113	Upgrade
Market Cap Growth	-40.15%	-42.70%	-16.82%	-58.53%	-52.84%	70.87%	Upgrade
Enterprise Value	7	8	13	14	42	108	Upgrade
Last Close Price	0.02	0.02	0.05	0.06	0.14	0.31	Upgrade
PS Ratio	7.11	7.61	11.44	11.41	18.72	54.70	Upgrade
PB Ratio	1.42	1.52	2.44	2.51	4.76	8.73	Upgrade
P/TBV Ratio	3.86	4.14	4.95	3.54	5.37	9.62	Upgrade
EV/Sales Ratio	5.15	5.97	7.94	7.23	14.72	52.22	Upgrade
Debt / Equity Ratio	-	-	-	0.00	0.01	0.02	Upgrade
Net Debt / Equity Ratio	-0.39	-0.39	-0.50	-0.73	-0.89	-0.98	Upgrade
Net Debt / EBITDA Ratio	1.00	1.00	1.44	2.26	4.76	5.86	Upgrade
Net Debt / FCF Ratio	1.71	1.71	1.55	3.05	4.41	13.25	Upgrade
Asset Turnover	0.17	0.17	0.18	0.17	0.21	0.18	Upgrade
Inventory Turnover	-	-	-	-	184.00	18.73	Upgrade
Quick Ratio	4.12	4.12	5.12	6.50	8.41	8.00	Upgrade
Current Ratio	4.24	4.24	5.21	6.57	8.51	8.06	Upgrade
Return on Equity (ROE)	-36.05%	-36.05%	-28.72%	-24.94%	-15.88%	-21.26%	Upgrade
Return on Assets (ROA)	-21.15%	-21.15%	-18.27%	-16.31%	-9.87%	-11.87%	Upgrade
Return on Capital Employed (ROCE)	-39.40%	-39.40%	-35.50%	-33.30%	-19.20%	-16.70%	Upgrade
Earnings Yield	-26.51%	-24.77%	-12.76%	-11.28%	-3.60%	-1.89%	Upgrade
FCF Yield	-16.12%	-15.07%	-13.19%	-9.55%	-4.24%	-0.84%	Upgrade
Buyback Yield / Dilution	-8.88%	-8.88%	-4.60%	-0.08%	-8.31%	-0.69%	Upgrade

Source: S&P Capital IQ. Standard template. Financial Sources.