Wave Topco Limited
Registered name: WAVE TOPCO LIMITED
Part of Graphite Capital General Partner IX LLP groupWave Topco Limited made £31.2m revenue and a £5.6m loss in the year to 30 Apr 2025.
Wave Topco Limited’s revenue fell 4% to £31.2m in the year to 30 Apr 2025, with a loss of £5.6m. The company is classified under “information technology consultancy activities” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London, London
- Age
- 6 yrs · since 2020
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 30 Apr 2023 | 30 Apr 2024 | 30 Apr 2025 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £28.9m | £32.5m | £31.2m |
| Cost of sales | −£19m | −£20.4m | −£20.5m |
| Gross profit | £9.9m | £12.2m | £10.7m |
| Operating profit | −£746k | −£261k | −£2.2m |
| Profit before tax | −£3.5m | −£3.2m | −£5.3m |
| Profit after tax | −£3.5m | −£3.7m | −£5.6m |
| Profit (best available) | −£3.5m | −£3.7m | −£5.6m |
| Employees (average) | — | — | — |
| Ratios | |||
| Profit margin | −12.3% | −11.3% | −17.8% |
| Gross margin | 34.3% | 37.4% | 34.3% |
| Growth (year on year) | |||
| Revenue growth | — | ▲12.6% | ▼4.2% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Nov 2024 | Accounts · bulk data Nov 2024 | Accounts · bulk data Jan 2026 |
How the business works
- Profit margin
- −17.8%
- Profit ÷ revenue.
- Gross margin
- 34.3%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Graphite Capital General Partner IX LLPultimate parent75–100%
- Wave Topco Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (1)
- Wave Midco 1 LimitedFigures not disclosed
Sister companies (1)
- Opus Holdco LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Similar profitable businesses
- Board M.i.t. LimitedLondon · Information technology consultancy activities
- Revenue
- £31.3m
- Profit
- £1.1m
- Staff
- 83
- Scrumconnect LimitedMiddlesex · Information technology consultancy activities
- Revenue
- £31.5m
- Profit
- £4.2m
- Staff
- 72
- Krome Technologies LtdChertsey · Information technology consultancy activities
- Revenue
- £30.2m
- Profit
- £259k
- Staff
- 121
- Climax Studios LimitedLondon · Information technology consultancy activities
- Revenue
- £30.1m
- Profit
- £5.3m
- Staff
- 225
- Torry Harris Business Solutions (Europe) LtdBristol · Information technology consultancy activities
- Revenue
- £29.9m
- Profit
- £817k
- Staff
- 57
- Parser LimitedLondon · Information technology consultancy activities
- Revenue
- £29.4m
- Profit
- £4.2m
- Staff
- 190
Sources
Latest figures from accounts for the year to 30 Apr 2025 (profit −£5.6m), from the Companies House accounts bulk data published Jan 2026. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.