Itaconix (LSE:ITX) reported record revenue of $10.5m for 2025, representing a 61% year-on-year increase. Gross profit rose above $3m with margins holding at 35%, while its core Performance Ingredients division achieved a 41% margin. The company also reduced adjusted EBITDA losses to $0.6m and narrowed net losses to $1.4m, ending the year with a strong working capital position that supports further expansion across its Itaconix Performance Ingredients and SPARX Formulated Solutions businesses.
Management also pointed to progress in developing its BIO*Asterix range of specialty itaconate monomers and resins, which is emerging as a potentially meaningful new revenue stream. The company launched a dedicated e-commerce platform for these products in 2025 and introduced new detergent formulations for 17 North American brands. Several additional ingredients have also entered the early stages of commercialisation. With strong order momentum and a growing project pipeline heading into 2026, Itaconix expects further revenue growth and anticipates reaching positive adjusted EBITDA, supporting its long-term ambition to become a highly profitable and capital-efficient supplier of specialty ingredients.
The company’s outlook reflects its strong sales momentum and improving financial performance highlighted during the earnings call. However, ongoing profitability challenges, bearish technical indicators and the broader impact of current unprofitability continue to weigh on the overall investment assessment.
More about Itaconix
Itaconix PLC is a specialty chemicals company focused on producing high-performance, plant-based polymers used as ingredients in consumer and industrial products. The company aims to meet rising demand for safer, sustainable and cost-effective materials, with core activities spanning performance ingredients, formulated cleaning solutions and specialty itaconate monomers and resins.
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