Itaconix (LSE:ITX) reported unaudited revenue of $8.3 million for the six months ended 30 June 2026, an increase of 72% year-on-year, as sales of its plant-based specialty polymers increased.
Revenue from Itaconix Performance Ingredients rose 104% compared with the prior-year period.
Gross profit increased 74% to $3.0 million, while adjusted EBITDA reached break-even. The company also reported positive operating cash flow and ended the period with $5.1 million in cash and investments.
Detergent Business Adds Two Large Customers
Itaconix reported increased sales of its multi-functional scale inhibitors and odour neutralisers for use in solid unit-dose detergents across North America and EMEA.
During the period, the company secured two large new detergent customers and reported repeat orders from existing customers.
Management maintained its medium-term objective of generating $30 million in detergent revenue as it continues to expand its presence in the unit-dose detergent market.
The company works with brand owners and contract manufacturers as well as distribution and commercial partners across its target markets.
Itaconix Raises 2026 Revenue Guidance
Following its first-half performance, Itaconix increased its full-year 2026 revenue guidance to at least $14.8 million.
The company also expects to report a small positive EBITDA for the full year. These figures represent management guidance and remain subject to the company’s performance during the remainder of 2026.
Itaconix is expanding production capacity to support anticipated demand and is developing its SPARX formulated solutions alongside its existing performance ingredients portfolio.
The company is also pursuing early-stage applications for its plant-based technologies in paints and agriculture.
More about Itaconix plc
Itaconix plc is a specialty chemicals company that develops and manufactures plant-based polymers used in consumer products, with a particular focus on homecare detergents.
The company uses proprietary processes based on itaconic acid fermentation to produce ingredients including scale inhibitors and odour neutralisers.
Its operations include performance ingredients and formulated solutions for brands and private-label products in North American and EMEA detergent markets. Itaconix is also developing applications in paints and agriculture.
The company works directly with brand owners and contract manufacturers and uses commercial partnerships, including relationships with Croda in homecare and Nouryon in personal care, to reach additional geographic and end-use markets.
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