Portfolio news 0

Most successful year into a new stage of development and growth

Itaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in high-performance plant-based specialty polymers, is delighted to announce its Preliminary Results for the year ended 31 December 2025.

Financial and Operational Highlights

$'000	2025	2024 (Restated)	2023	2022	2021
Revenue	10,499	6,503	7,866	5,600	2,596
Gross profit	3,642	2,260	2,437	1,487	700
Gross profit margin	34.7%	34.7%	31.0%	26.6%	27.0%
Adjusted EBITDA¹	(600)	(1,778)	(925)	(1,395)	(1,640)
Cash used from operating activities	(1,222)	(2,753)	(1,923)	(219)	(2,023)
Net cash and investments at year-end	4,391	6,734	10,023	597	683

 

1 Adjusted for interest, tax, depreciation, amortisation, share based payment charge, and exceptional items.

• Record annual revenues surpassed $10m for the first time, reflecting 61% year-on-year growth.
• Annual gross profit surpassed $3m for the first time. Maintained overall gross profit margin of 35%, with gross profit margin in core Itaconix Performance Ingredients business at 41%.
• Adjusted EBITDA losses improved to $0.6m, from $1.8m in 2024.
• Net losses declined to $1.4m in 2025 from $2.0m in 2024.
• Ended the year with strong working capital position for growth.
• Itaconix® Performance Ingredients and SPARX™ Formulated Solutions businesses on strong paths towards profitable long-term growth.
• Development of BIO*Asterix® specialty itaconate monomers and resins business into large new revenue opportunity. Launch of BIO*Asterix® ecommerce site (www.bioasterix.com) in July 2025.
• Leveraged the performance advantages of scale inhibitors through the SPARX™ Formulated Solutions program, to develop new unit dose detergent formulations for 17 North American brands.
• Several new ingredients in pre-commercial or early commercial stages.
• The Company has entered 2026 with strong order momentum and a growing pipeline of projects. Management’s expectations for the year to 31 December 2026 remain unchanged, with strong forecast revenue growth and positive adjusted EBITDA*.

* The Board believes the current market expectations for the year ended 31 December 2026 are as follows: Revenue - $13.3m, Adjusted EBITDA - $0.3m, Net cash - $3m

Commenting on the outlook, John R. Shaw, CEO of Itaconix said:

“Achieving $10.5m in revenues is a major milestone towards our goal of developing a large, highly profitable, capital efficient specialty ingredient company.

We sell proprietary ingredients that consumer product brands increasingly want to use for their safety, performance, affordability, and sustainability. Our commercial traction, diverse revenue base, customer project pipeline, and production capacity put us in position for continued growth into a solid foundation of profitability for both generating shareholder value and pursuing additional revenue horizons.

Reaching this position while navigating geopolitical turmoil underscores the strength of our business and the resilience of our supply chain, our operations, and our organisation to global uncertainties.

We are off to a strong start in 2026 and remain confident that we will meet the management expectations, including a clear path to positive adjusted EBITDA in 2026.”

- Ends -