The plant-based polymer specialist says revenue growth and positive adjusted EBITDA are both within reach this year
Itaconix PLC (AIM:ITX, OTCQB:ITXXF, FRA:18G0), the AIM-listed plant-based specialty polymer company, says it has made a strong start to 2026 and expects to reach positive adjusted EBITDA for the first time this year, with management forecasting revenues of $13.3 million and adjusted EBITDA of $300,000 million for the full year.
The upbeat assessment of prospects follows what the company described as its most successful year to date, with revenues surpassing $10 million for the first time in 2025, rising 61% to $10.5 million (2024: $6.5 million).
Gross profit exceeded $3 million for the first time, reaching $3.6 million, while the gross profit margin in its core Itaconix Performance Ingredients business reached 41%.
Adjusted EBITDA losses, which strip out interest, tax, depreciation, amortisation, share-based payments and exceptional items, narrowed sharply to $600,000 million from $1.8 million in 2024, and net losses fell to $1.4 million from $2 million.
The company ended 2025 with net cash and investments of $4.4 million (2024: $6.7 million), which it said represented a strong working capital position to support continued growth.
Itaconix sells polymer ingredients used in detergents and other consumer products, marketing them on the basis of their safety, performance and sustainability credentials.
During 2025, the company developed new unit dose detergent formulations for 17 North American brands through its SPARX Formulated Solutions programme, and launched an ecommerce platform for its BIO*Asterix specialty itaconate monomers and resins business, which it described as a large new revenue opportunity.
Chief executive John Shaw said the company's commercial traction, diverse revenue base and production capacity positioned it for continued growth.
And pointed out that Itaconix has reached this stage while navigating geopolitical uncertainty, demonstrating the resilience of its supply chain and operations.