Chief executive’s statement
The first half of our financial year was marked by solid commercial, technical and financial progress across the portfolio. This progress was not reflected in our headline results, however pre-tax losses were driven mostly by two significant non-cash items: the IFRS 16 accounting treatment of our SC2 lease and a decrease in valuation of one of our portfolio companies.
Neil Crabb, Chief Executive Officer
Financial highlights
Frontier IP’s portfolio made solid commercial, technical and financial progress for the half year to 31 December 2025. The fall in net assets per share reflected the increased shares in issue following the funding round.
£33.5 million
Fair value of our equity portfolio
June 2025: £33.4 million, December 2024 £33.2 million
£(3.1 million)
Loss before tax
December 2024: pre-tax loss of £(1.6 million)
(4.54)p
Basic loss per share
December 2024: basic loss per share of (2.81p)
£1.6 million
Cash balances at 31 December 2025
December 2024: £3.6 million
52.7p
Net assets per share
December 2024: 67.6p