Itaconix PLC (AIM:ITX, OTCQB:ITXXF, FRA:18G0), the AIM-listed plant-based specialty polymer company, saw its shares rise 8% to 120 pence on Tuesday after saying it had made a strong start to 2026.
In the commentary accompanying its results, it said it expected 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 for the full year.
The outlook 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 narrowed sharply to $600,000 from $1.8 million in 2024, and net losses fell to $1.4 million from $2.0 million.
Itaconix sells polymer ingredients used in detergents and other consumer products, marketed 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 e-commerce platform for its BIO*Asterix specialty monomers and resins business.
Chief executive John Shaw said the company's commercial traction, diverse revenue base and production capacity positioned it well for continued growth, and that reaching this stage while navigating geopolitical uncertainty demonstrated the resilience of its supply chain and operations.d