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Itaconix
(LSE:ITX)
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Rating:52Neutral
Price Target:
199.00 p
▼(-1.00% Downside)
Action:Reiterated
Date:08/21/26
The score is held back primarily by weak financial performance—continued losses and persistent negative operating/free cash flow—despite improving loss trends and manageable leverage. Technicals are supportive (price above major moving averages with positive MACD), but valuation remains pressured due to negative earnings and no dividend support.
Positive Factors
Long-term Revenue Scale
The substantial multi-year increase indicates that Itaconix has expanded commercial adoption of its phosphate-free ingredients. Greater scale can support customer diversification, manufacturing efficiency and a broader base for future recurring product sales.
Negative Factors
Recent Revenue Volatility
The latest revenue contraction shows that growth has not yet become consistent. Volatility can make production planning, customer adoption assumptions and investment decisions less predictable, weakening confidence in the durability of the company’s scaling trajectory.
Read all positive and negative factors
Positive Factors
Negative Factors
Long-term Revenue Scale
The substantial multi-year increase indicates that Itaconix has expanded commercial adoption of its phosphate-free ingredients. Greater scale can support customer diversification, manufacturing efficiency and a broader base for future recurring product sales.
Read all positive factors
Itaconix (ITX) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£27.11M
Dividend YieldN/A
Average Volume (3M)8.23K
Price to Earnings (P/E)―
Beta (1Y)-0.04
Revenue Growth56.59%
EPS Growth28.78%
CountryUK
Employees28
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)-0.10
Shares Outstanding13,486,122
10 Day Avg. Volume5,692
30 Day Avg. Volume8,228
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.76
Price to Sales (P/S)1.38
P/FCF Ratio-7.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£375.00Price Target Upside86.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)£9.94M
Itaconix Business Overview & Revenue Model
Company Description
Itaconix plc, alongside its affiliated entities, specializes in the creation, production, and distribution of bio-based polymers. These innovative materials serve the personal care, household product, and industrial sectors throughout North Americ...
How the Company Makes Money
Itaconix makes money by selling specialty chemical ingredients (its proprietary, phosphate-free performance additives) to formulators and manufacturers of cleaning and detergent products. Revenue is generated primarily from product sales (typicall...
Itaconix Earnings Call Summary
Earnings Call Date:Sep 15, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 08, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth and improved financial performance, with a path to profitability in sight. However, challenges remain, including low profit margins for certain segments and customer concentration risks. Overall, the company's outlook is optimistic with plans for future expansion.Positive Updates
Record Revenue Growth
Sales reached $4.8 million, a 73% increase from H1 2024, marking a record half for the business.
Negative Updates
Low Gross Profit Margin for SPARX
SPARX formulation solutions have a low gross profit margin of 13%, indicating limited profitability from this segment.
Read all updates
Q2-2025 Updates
Positive
Negative
Record Revenue Growth
Sales reached $4.8 million, a 73% increase from H1 2024, marking a record half for the business.
Read all positive updates
Company Guidance
During the recent call, Itaconix plc provided an optimistic outlook based on their performance in the first half of 2025. The company reported record sales of $4.8 million, marking a 73% increase from H1 2024, and a record gross profit of $1.7 million, maintaining a gross profit margin of 35%. Adjusted EBITDA losses were reduced to $200,000 from $800,000 in H1 2024. They ended the period with $6.6 million in net working capital, indicating strong resources for future growth. Their Performance Ingredients unit contributed $3.3 million in revenue, a 51% increase from the previous year, and the SPARX program's revenue grew by 156% to $1.5 million. The company is focused on expanding their scale inhibitors and odor neutralizers, with strategic initiatives like the SPARX and Bio*Asterix programs driving future growth. Despite a subdued share price, the company remains confident in their path to profitability, supported by a robust technology platform and a diversified customer base across North America and Europe.Itaconix Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
55
Neutral
Cash Flow
22
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.50M | 8.14M | 7.87M | 5.61M | 2.60M |
| Gross Profit | 3.64M | 2.83M | 2.44M | 1.49M | 699.95K |
| EBITDA | -827.00K | ― | -1.34M | -2.19M | -1.66M |
| Net Income | -1.38M | -2.33M | ― | -2.47M | -446.27K |
Balance Sheet | |||||
| Total Assets | 12.96M | 13.18M | 15.14M | 2.52M | 3.28M |
| Cash, Cash Equivalents and Short-Term Investments | 4.39M | 6.73M | 8.68M | 606.98K | 682.95K |
| Total Debt | 2.02M | 2.14M | 3.10M | 526.14K | 493.96K |
| Total Liabilities | 4.72M | 3.85M | 3.91M | 3.30M | 2.63M |
| Stockholders Equity | 8.24M | 9.33M | 11.22M | -776.50K | 648.95K |
Cash Flow | |||||
| Free Cash Flow | -1.86M | -3.34M | -2.18M | -278.54K | -2.09M |
| Operating Cash Flow | -1.22M | -2.75M | -1.92M | -219.42K | -2.02M |
| Investing Cash Flow | -1.64M | 5.95M | -7.84M | -59.11K | -47.08K |
| Financing Cash Flow | -316.50K | -279.00K | 11.58M | 192.37K | 1.31M |
Itaconix Technical Analysis
Positive
201.00
Price Trends
146.86
Positive
127.42
Positive
121.01
Positive
Market Momentum
13.93
Negative
74.07
Negative
62.50
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ITX, the sentiment is Positive. The current price of 201 is above the 20-day moving average (MA) of 180.35, above the 50-day MA of 146.86, and above the 200-day MA of 121.01, indicating a bullish trend. The MACD of 13.93 indicates Negative momentum. The RSI at 74.07 is Negative, neither overbought nor oversold. The STOCH value of 62.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ITX.
Itaconix Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | £1.01B | 18.85 | 11.29% | 1.89% | -11.73% | ― | |
62 Neutral | £4.83B | 61.26 | 3.65% | 3.79% | 3.36% | -43.08% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
55 Neutral | £162.30M | -1.35 | -13.27% | ― | -4.98% | -43.98% | |
52 Neutral | £27.11M | -26.10 | -15.66% | ― | 56.59% | 28.78% | |
45 Neutral | £25.27M | -2.32 | -85.45% | ― | ― | ― |
* Basic Materials Sector Average
GB:ITX
Itaconix
197.00
64.50
48.68%
GB:CRDA
Croda International
3,465.00
995.96
40.34%
GB:ELM
Elementis
179.60
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11.03%
GB:HAYD
Haydale Graphene
0.33
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-44.92%
GB:SYNT
Synthomer
98.60
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58.27%
Itaconix Corporate Events
Business Operations and StrategyFinancial Disclosures
Itaconix Sets Date for Interim Results and Investor Presentation
Positive
Aug 20, 2026
Itaconix has scheduled the release of its interim results for the period ended 30 June 2026 on 8 September 2026. The announcement underscores the company’s aim to keep investors informed on its financial performance and operational progress ...
Business Operations and StrategyFinancial Disclosures
Itaconix Lifts 2026 Revenue Outlook After Record First Half
Positive
Jul 17, 2026
Itaconix reported a record first half for 2026, with unaudited revenues rising 72% year-on-year to $8.3 million and gross margins holding at 36%, supported by broad-based growth across major product segments. Performance Ingredients for dish and l...
Business Operations and StrategyProduct-Related Announcements
Itaconix Secures First Supply Deal for Plastic-Free Dish Detergent Tablets in North America
Positive
Jul 14, 2026
Itaconix has secured its first customer supply agreement for 8-gram plastic-free dish detergent tablets with a purpose-driven North American brand, produced via its SPARX Formulated Solutions business at its North American Innovation Center. The t...
Business Operations and StrategyProduct-Related Announcements
Itaconix Extends Bonals Deal to Push Plastic-Free Detergent Tablets in North America
Positive
Jul 8, 2026
Itaconix has extended its collaboration with Bonals Technologies through December 2028 under its SPARX Formulated Solutions business to accelerate the rollout of safer, cost-effective and more sustainable unit-dose detergent tablets in the U.S. an...
Business Operations and StrategyShareholder Meetings
Itaconix Secures Full Shareholder Backing at Annual General Meeting
Positive
Jun 10, 2026
Itaconix plc reported that all resolutions presented to shareholders at its latest Annual General Meeting were approved. The outcome signals strong shareholder support for the company’s current strategy and governance, with full voting detai...
Business Operations and StrategyFinancial Disclosures
Itaconix Builds on Record Year as Plant-Based Polymers Gain Traction
Positive
Jun 2, 2026
Itaconix reported that trading in FY2026 is progressing in line with expectations after a record FY2025, with management anticipating another record first half and steady gross margins. The company is benefiting from supply disruptions in competin...
Business Operations and StrategyProduct-Related Announcements
Itaconix Tests Plant-Based Polymer for Crop Growth in U.S. Field Trials
Positive
Jun 1, 2026
Itaconix is expanding the scope of its plant-based polymer technologies into agriculture by testing their use in crop production. The company is running field trials in the United States this growing season on corn, using a polymer marketed as Bio...
Business Operations and StrategyProduct-Related Announcements
Itaconix Advances Plant-Based Polymer Platform Into Next-Generation Paints
Positive
May 29, 2026
Itaconix has reported progress in developing a new class of plant-based paints enabled by its BIO*Asterix ingredients, filing both a patent for paint formulations that use these polymers and a trademark for the paint class. As part of advancing th...
Business Operations and StrategyProduct-Related Announcements
Itaconix Launches Deeperclean.com to Accelerate Adoption of Plant-Based Detergents
Positive
May 27, 2026
Itaconix has launched deeperclean.com, a North American ecommerce platform designed to give consumer detergent brand managers rapid access to next-generation dishwashing and laundry formulations built on its plant-based polymer technologies. The s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.