​

​

3 months ended June 30,

  ​ ​ ​

6 months ended June 30,

​

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

​

​

£ 000

​

£ 000

​

£ 000

​

£ 000

Research and development staff costs*

​

12,806

​

8,336

​

24,529

​

15,324

Research and development consultancy

​

14,129

​

1,202

​

24,686

​

3,134

Research and development components, parts and tooling

​

2,802

2,036

6,103

4,333

Total research and development expenses

​

29,737

​

11,574

​

55,318

​

22,791

Administrative staff costs

​

2,874

​

3,195

​

6,169

​

6,050

Share based payment (credit)/charge

​

763

​

2,063

​

1,650

​

3,207

Consultancy costs

​

1,096

1,025

1,835

1,641

Legal and financial advisory costs

​

2,702

1,063

3,221

1,781

HR advisory and recruitment costs

​

644

​

627

​

858

​

822

IT hardware and software costs

​

2,514

1,906

4,924

3,767

Insurance expenses

​

64

592

126

1,178

Marketing costs

​

1,492

433

5,694

585

Premises expenses

​

766

414

1,119

902

Operational travel and logistics costs

​

764

​

388

​

2,263

​

693

Aviation and aerospace regulatory fees

​

201

​

256

​

622

​

349

Depreciation expense

​

229

252

465

466

Amortization expense

​

—

51

—

107

Depreciation on right of use property assets

​

258

​

202

​

524

​

360

Other administrative expenses

​

174

145

379

193

Total administrative costs

​

14,541

​

12,612

​

29,849

​

22,101

Related party administrative expenses

​

62

​

57

​

131

​

151

Total administrative and research and development expenses

​

44,340

24,243

85,298

45,043