Gross profit rose 55% to $1.7 million, with overall margins at 35%
LONDON: Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a UK-based developer of sustainable plant-based polymers, reported record unaudited interim revenues of $4.8 million for the six months ended June 30, 2025, marking a 73% year-on-year increase and a 30% rise from H2 2024.
Gross profit rose 55% to $1.7 million, with overall margins at 35%. Adjusted EBITDA improved to a loss of $0.2 million from $1.0 million a year earlier, while net loss after tax narrowed to $0.4 million.
CEO John R. Shaw said the results reflect strong momentum across its Performance Ingredients segment, the successful launch of BIO Asterix®, and growing traction for SPARX™ Formulated Solutions. “We are now scaling into three distinct and complementary revenue streams,” Shaw said.
Performance Ingredients for cleaning applications remained the largest contributor, generating $2.8 million in revenue. Hygiene and Beauty products added $0.5 million. BIO Asterix®, launched in June, targets high-value paints, coatings, and adhesives, with initial ecommerce sales in North America.
The company extended its strategic partnership with Croda until 2030, including the launch of ZINADOR® 22D, a dry powder odour-neutralising ingredient for detergent applications.
Cash and investments stood at $5.7 million at the end of June, down from $7.8 million a year earlier, reflecting planned inventory investments to support growth and mitigate supply chain risks.
Looking ahead, Shaw reaffirmed full-year guidance and highlighted the company’s proprietary technology platform, recurring customer demand, and alignment with global sustainability trends. “We believe Itaconix offers a unique and compelling growth story,” he said.