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Itaconix ( (GB:ITX) ) has shared an update.
Itaconix reported unaudited revenues of $6.5 million for 2024, with an increase in gross profit margins to approximately 35%. The company has successfully diversified its revenue streams, particularly in the cleaning sector, where growth in European volumes offset declines in North America due to strategic customer shifts. The company also saw revenue growth in the hygiene and beauty sectors, driven by increased purchases from key clients. Itaconix’s Formulated Solutions segment is expanding, with the SPARX™ program set to launch new products in 2025. The company maintains a strong balance sheet, with investments supporting future growth, despite a decrease in cash reserves. The board remains optimistic for 2025, although mindful of macroeconomic challenges, and anticipates further details upon the release of FY24 results.
More about Itaconix
Itaconix plc is an innovator in the plant-based specialty polymers industry, focusing on decarbonizing everyday consumer products. The company offers products primarily for the cleaning, hygiene, and beauty sectors, with a strong emphasis on sustainability and performance.
YTD Price Performance: -1.52%
Average Trading Volume: 7,582
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £21.91M
See more insights into ITX stock on TipRanks’ Stock Analysis page.
