Itaconix narrows loss as grows market share in cleaning applications

(Alliance News) - Itaconix PLC on Monday reported a narrowed loss during the first half of 2025, as earnings were buoyed by a larger market share and new initiatives by the firm.

The London-based manufacturer of plant-based polymers said its pretax loss for the six months that ended June 30 narrowed to USD399,000 from USD1.0 million the year before.

Revenue jumped 71% to USD4.8 million from USD2.8 million, while administrative expenses were reduced by 8.7% to USD2.1 million from USD2.3 million.

The growth in revenue reflected both increased market share in cleaning applications and the early contribution from new initiatives such as the Sparx programme, Itaconix said.

"Looking ahead, we remain confident in delivering on the board's full-year expectations for 2025 and in our mid-term path to profitability. With cash resources of USD5.7 million at 30 June 2025 and a growing pipeline of opportunities, we are well positioned to continue our progress," said Chief Executive Officer John Shaw.

"In summary, we are building a high-margin, specialty ingredients company rooted in a proprietary, scalable technology platform. Our products are already establishing themselves as core ingredients in the next generation of consumer products. With three distinct revenue streams, recurring customer demand, and a mission aligned with the global drive for safer and more sustainable chemistry, we believe Itaconix offers a unique and compelling growth story."

Shares in Itaconix were down 11% at 115.14 pence in London on Monday afternoon. The stock is down 21% over the past year.

By Emily Parsons, Alliance News reporter

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