Itaconix (LSE:ITX) has increased its revenue outlook for 2026 after reporting record first-half sales, driven by strong demand across its portfolio of plant-based specialty ingredients and continued growth in key international markets.
Unaudited revenue for the first six months of 2026 increased 72% year-on-year to $8.3 million, while gross margins remained stable at 36%. The performance was supported by broad-based growth across the business, with Performance Ingredients for dishwashing and laundry detergents recording higher sales in both Europe, the Middle East and Africa (EMEA) and North America.
The company also reported continued momentum for its SPARX formulated solutions, particularly in solid unit-dose cleaning products. At the same time, longer-term commercial opportunities continued to develop in the paints and agricultural sectors, where Itaconix is expanding applications for its plant-based polymer technology.
Following the stronger-than-expected first-half performance, the board now expects full-year 2026 revenue of at least $14.8 million, ahead of previous market forecasts of $13.3 million. Management also reaffirmed guidance for a small positive EBITDA for the year, despite ongoing investment in product development and expanding its workforce.
The updated outlook highlights Itaconix’s growing presence in the market for sustainable cleaning and specialty ingredients. The company is scheduled to publish its interim results in September, when investors will receive a more detailed update on operational and financial performance.
Although revenue growth and margins continue to improve, the company’s broader financial profile remains affected by ongoing losses and negative cash flow. Technical indicators also remain weak, with the shares trading below key moving averages, while valuation metrics continue to reflect the company’s loss-making status and lack of a dividend.
More about Itaconix
Itaconix plc is a specialty chemicals company that develops high-performance, plant-based polymers for consumer and industrial applications. Its proprietary technology platform supplies ingredients used in home care, hygiene and cleaning products, with additional applications in paints, coatings and agriculture.
The company’s product portfolio includes BIO*Asterix monomers and binders alongside BioVail plant nutrition products, supporting its strategy of expanding into higher-value specialty chemical markets through sustainable, bio-based alternatives to conventional materials.
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