Itaconix plc 

("Itaconix" or the “Company”) 

HALF YEAR RESULTS FOR THE PERIOD ENDED 30 JUNE 2025

Itaconix plc (AIM: ITX) (OTCQB: ITXXF), a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products, is pleased to announce its unaudited interim results for the six months ended 30 June 2025.

A live presentation will be held today at 14:00 BST. This presentation is open to all interested parties. Anyone can sign up for free to the Investor Meet Company platform and join the live presentation via: https://www.investormeetcompany.com/itaconix-plc/register-investor

A copy of the Interim Report & Accounts is available for download on Itaconix’s website at www.itaconix.com.

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

“Our record half year revenues are another major milestone towards establishing our products as core ingredients in a new generation of high-performance sustainable consumer products. With strong momentum in our Performance Ingredients business, the successful launch of BIO*Asterix®, and growing traction for SPARX™ collaborations, we are now scaling into three distinct and complementary revenue streams.

“Alongside this progress, we have deepened our strategic partnership with Croda, substantially mitigated international trade risks, and invested in marketing, organisation, and supply chain resilience. With a strong balance sheet, a proprietary technology platform, and a robust pipeline of opportunities, we are confident in delivering sustained growth, margin expansion, and long-term shareholder value.”

Financial Highlights

• First half revenues reached $4.8 million, a 30% increase from $3.7 million in H2 2024, and a 73% increase from $2.8 million in H1 2024.
• Gross profit increased to $1.7 million in H1 2025, a 45% increase from $1.2 million in H2 2024, and a 55% increase from $1.1 million in H1 2024.
• Overall gross profit margin was 35%, compared to 31% in H2 2024 and 39% in H1 2024.       Gross profit margin on Performance Ingredients was 45% compared to 40% in H2 2024 and 46% in H1 2024. Gross profit margin on SPARX™ Formulated Solutions revenue was 13% compared to 10% in H2 2024 and 13% in H1 2024.
• First half adjusted EBITDA improved to $(0.2) million, compared to $(0.8) million in H2 2024 and $(1.0) million in H1 2024.
• First half loss after tax improved to $(0.4) million, compared to $(0.9) million in H2 2024 and $(1.0) million in H1 2024.
• As at 30 June 2025, cash and investments were $5.7 million, compared to $7.8 million as at 30 June 2024 and $6.7 million as at 31 December 2024.
  • The change largely reflects planned investments in raw material and finished goods inventories in H2 2024 to support customer growth and help mitigate supply chain risk.

Operating Progress

• Performance Ingredients revenues for cleaning applications continue as the largest segment at $2.8 million, a 30% increase from $2.2 million in H2 2024, and a 64% increase from $1.7 million in H1 2024. Hygiene and Beauty revenues were $0.5 million, an increase from $0.4 million in H2 2024 and H1 2024.
• BIO*Asterix® launched in June 2025 as a third revenue stream, targeting the high-value paints, coatings, and adhesives markets, with initial ecommerce sales to North American laboratories.
• Croda partnership extended to 2030, including the launch of ZINADOR® 22D, a new dry powder odour-neutralising ingredient, broadening the reach of Itaconix technology into powder detergents.
• Our customer project pipeline progressed with next generation dish and fabric detergents for purpose-driven brands and from new scale inhibition and odour neutralisation inquiries from larger detergent producers.
• Trade resilience: modest tariff impacts substantially mitigated by selective price adjustments, supply chain efficiencies, and favourable currency movements, with geographic shifts in detergent supply chains creating new customer opportunities.
• Continued investment: in marketing, organisation, and supply chain resilience to support customer adoption, expand capacity, and deliver long-term growth.

¹ Adjusted EBITDA is defined and reconciled to Operating Loss in Note 4 of the Interim Report.

Commenting on outlook and current trading John R. Shaw, added:

“Looking ahead, we remain confident in delivering on the Board’s full-year expectations for 2025 and in our mid-term path to profitability. With cash resources of $5.7 million at 30 June 2025 and a growing pipeline of opportunities, we are well positioned to continue our progress.

“In summary, we are building a high-margin, specialty ingredients company rooted in a proprietary, scalable technology platform. Our products are already establishing themselves as core ingredients in the next generation of consumer products. With three distinct revenue streams, recurring customer demand, and a mission aligned with the global drive for safer and more sustainable chemistry, we believe Itaconix offers a unique and compelling growth story.”

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About Itaconix

Itaconix plc develops and markets sustainable plant-based polymers that improve the safety, performance, and environmental profile of everyday consumer and industrial products. Its proprietary platform leverages itaconic acid to produce unique high-performance materials across multiple markets.

www.itaconix.com