Quantum Base Holdings plc
Quantum Base Holdings plc is an AIM-listed (April 2025) early-stage deep-tech company that develops and commercialises quantum-physics-based anti-counterfeiting and authentication technology (Q-ID), spun out of Lancaster University. Its "design-and-licence" model partners with security printers and product manufacturers who embed Q-ID's unique, smartphone-readable optical identifiers into their products, with Quantum Base earning licence/royalty and integration-service fees. FY25 was the Group's first year of commercial revenue (£18,000), generated from a framework/call-off agreement to apply Q-ID to government tax stamps.
FY2025 in sixty seconds
year to 30 Apr 2025 · approved 31 Oct 2025 · 68 pages · Companies House
Quantum Base Holdings plc, a Lancaster University spin-out, develops anti-counterfeiting marks based on quantum physics that can be checked with a smartphone. In the year to 30 April 2025 it earned its first revenue, £18k (previous year £0), from applying its technology to government tax stamps. Its loss after tax widened to £4.8m, from £1.3m the year before.
Most of the bigger loss came from costs linked to joining the AIM stock market in April 2025. These were a £2.8m charge for share options and £0.9m of listing costs. Spending on research and patents also rose.
The company ended the year with £2.2m of cash (previously £215k) and almost no borrowings, after raising £5.7m from new shares. It paid no dividend. Management says it is on track to sign four new commercial contracts in the coming year. However, it has only one paying customer. The auditor also flagged a material uncertainty over whether the company can keep going without more money, because little of its future revenue is guaranteed by signed contracts.
Licence/royalty fees from framework and call-off agreements with security printers
Revenue arises from royalties earned on the Group's proprietary technology, licensed to commercial partners under framework and call-off agreements; usage-based royalties based on items produced or activated
page 44Admission-related costs and share-based payment charges
Administrative expenses rose to £5.1m (2024: £1.5m), driven by £2.8m share-based payment charge and £0.9m costs of Admission to AIM
page 11Quantum Base enters FY26 with a proven and commercially deployed technology platform, strengthened governance and a solid balance sheet following its successful AIM Admission; immediate focus on expanding within the global security-printing market while building a pipeline of additional international partners.
page 4No ordinary dividends were paid during the year and the directors do not recommend a final dividend; no agreements, undertakings or commitments exist that would require or give rise to dividend payments in future periods
page 262 years on one page · FY2024–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Nothing to compare yet: that takes a second report, which prints the first year's figures again.