Itaconix Plc (ITXXF) Q2 2025 Earnings Call Transcript

Operator

Good afternoon, and welcome to the Itaconix plc investor presentation. [Operator Instructions] The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where it’s appropriate to do so. Before we begin, I’d like to submit the following poll. And I’d now like to hand you over to John Shaw, CEO. Good afternoon, sir.

John Shaw
Co-Founder, CEO & Director

Good afternoon. John Shaw, CEO of Itaconix, and welcome to our report on our interim results for 2025. In terms of our highlights, it’s a very important half year for us for the long-term development of Itaconix into a large, highly profitable specialty ingredients company. Our H1 highlights are really around our financial results in a couple of different areas. We recorded record revenues, record gross profits, near neutral adjusted EBITDA, and we still have plenty of resources for additional growth. On our commercial progress side, we made a major step towards reaching profitability from both the revenue growth side and the revenue base we have in place for landing and expanding new customers.

Finally, we’re also setting up future growth with 2 major new initiatives that advanced in the first half with both our SPARX program, our Bio*Asterix program. Our path to being a large specialty ingredient company centers around the value and potential for itaconic acid. Itaconic acid is a natural molecule. It’s a metabolite actually produced in our bodies in the natural world through biochemistry. Its value is derived from its unique combination of 3 functional sites that are one more than acrylic acid