Trading Update
Itaconix PLC reported a strong first half for 2026, with unaudited revenues reaching $8.3 million, a 72% increase compared to the same period in 2025, and gross profit margin expected to remain at 36%. The company now forecasts full-year 2026 revenue to be at least $14.8 million, exceeding prior analyst expectations of $13.3 million, and anticipates a small positive EBITDA for the year, despite strategic investments in growth initiatives.
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FY 2026 revenue to be ahead of expectations
Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in high-performance plant-based specialty polymers used in everyday consumer products such as homecare detergents, announces a strong trading update for the six months ending 30 June 2026.
Itaconix delivered a record first half with unaudited revenues at $8.3 million representing +72% growth vs H1 2025 ($4.8 million), and +46% growth vs H2 2025 ($5.7 million), with growth achieved across all major product segments. Gross profit margin for H1 2026 is expected to be in line with FY 2025 at 36%, following robust management of raw materials and supply chains.
Performance Ingredients, primarily serving the dish detergent market, performed well in both EMEA and North America. Growth was driven by strong reorder volumes from existing customers, a new unit-dose dish detergent customer in EMEA, and a new unit-dose laundry detergent customer in North America.
SPARX™ Formulated Solutions experienced growth due to the increased use of SPARX™ formulations in North America for solid unit-dose dish and laundry detergents. Revenues are generated from the sale of other key ingredients that contract manufacturers need to produce SPARX™ formulations.
The Company is advancing longer-term revenue opportunities with its BIO*Asterix® specialty monomers and binders in high-value paints, and its new BioVail™ plant nutrition ingredient in crop production.
Outlook
We are pleased with progress across the business and at this stage of the financial year. Whilst re-order rates are yet to be firmly established, the Board now expects revenue for the year to 31 December 2026 to be no less than $14.8 million, ahead of current market expectations1. The Board continues to expect to deliver a small positive EBITDA for FY 2026, reflecting strategic investments in headcount and product development to drive near-term growth and advance longer-term revenue potential.
Further information on H1 2026 results will be provided in the 2026 interim results which are expected to be released on or about 8 September 2026.
1 Prior to the release of this announcement, the Board understands that analyst forecasts for FY 2026 indicate revenue of $13.3 million and EBITDA of $0.3 million.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.