Itaconix PLC (GB:ITX)
LSE:ITX
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Itaconix
(LSE:ITX)
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Rating:43Neutral
Price Target:
111.00 p
▲(3.26% Upside)
Action:Reiterated
Date:05/20/26
The score is held down primarily by weak financial performance driven by ongoing losses and persistent cash burn, despite improved margins and manageable leverage. Technical signals are also bearish with the price below major moving averages and a negative MACD, while valuation is penalized by loss-making status (negative P/E) and no provided dividend yield support.
Positive Factors
Multi-year revenue scaling
Sustained multi-year revenue growth provides a larger base to absorb fixed costs and supports commercial validation of core additives. This expanding revenue base increases operating leverage potential and creates a platform for further customer wins and margin improvement as scale rises.
Negative Factors
Consistent negative operating and free cash flow
Persistent negative operating and free cash flow is a structural constraint: it forces reliance on external funding, limits reinvestment in production or commercial expansion, and raises execution risk if capital markets tighten or investors become less patient.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year revenue scaling
Sustained multi-year revenue growth provides a larger base to absorb fixed costs and supports commercial validation of core additives. This expanding revenue base increases operating leverage potential and creates a platform for further customer wins and margin improvement as scale rises.
Read all positive factors
Itaconix (ITX) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£16.18M
Dividend YieldN/A
Average Volume (3M)8.23K
Price to Earnings (P/E)―
Beta (1Y)0.04
Revenue Growth56.59%
EPS Growth28.78%
CountryUK
Employees22
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)-0.10
Shares Outstanding13,486,122
10 Day Avg. Volume5,692
30 Day Avg. Volume8,228
Financial Highlights & Ratios
PEG Ratio0.23
Price to Book (P/B)1.76
Price to Sales (P/S)1.35
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 TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)£9.94M
Itaconix Business Overview & Revenue Model
Company Description
Itaconix (ITX) is a sustainable materials company that specializes in the development and production of innovative biopolymers derived from renewable resources. Operating primarily in the specialty chemicals sector, Itaconix focuses on delivering ...
How the Company Makes Money
Itaconix makes money primarily by selling its specialty chemical ingredients to customers that formulate and manufacture cleaning and detergent products. Revenue is generated from (1) product sales of its phosphate-free performance additives suppl...
Itaconix Earnings Call Summary
Earnings Call Date:Sep 15, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Sep 15, 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 | 10.72M | 8.14M | 7.87M | 5.61M | 2.60M |
| Gross Profit | 3.72M | 2.83M | 2.44M | 1.49M | 699.95K |
| EBITDA | -1.06M | ― | -1.34M | -2.19M | -78.47K |
| Net Income | -1.41M | -2.33M | -1.94M | -2.47M | -446.27K |
Balance Sheet | |||||
| Total Assets | 12.96M | 13.18M | 15.14M | 2.57M | 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 | 3.35M | 2.63M |
| Stockholders Equity | 8.24M | 9.33M | 11.13M | -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
107.50
Price Trends
107.28
Positive
111.20
Positive
113.30
Positive
Market Momentum
0.81
Negative
72.33
Negative
65.56
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 107.5 is above the 20-day moving average (MA) of 107.25, above the 50-day MA of 107.28, and below the 200-day MA of 113.30, indicating a bullish trend. The MACD of 0.81 indicates Negative momentum. The RSI at 72.33 is Negative, neither overbought nor oversold. The STOCH value of 65.56 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 | £4.23B | 69.75 | 2.82% | 3.45% | 4.38% | -60.87% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | £894.45M | -26.37 | -6.85% | 1.34% | -21.51% | 7.34% | |
54 Neutral | £190.17M | -1.21 | -16.66% | ― | -12.46% | -116.21% | |
53 Neutral | £7.00M | -1.49 | -69.24% | ― | -24.85% | 40.28% | |
43 Neutral | £16.18M | -15.77 | -19.63% | ― | 56.59% | 28.78% | |
41 Neutral | £25.81M | -1.53 | ― | ― | ― | ― |
* Basic Materials Sector Average
GB:ITX
Itaconix
120.00
20.00
20.00%
GB:CRDA
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3,027.00
134.96
4.67%
GB:DCTA
Directa Plus
6.70
-0.55
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GB:ELM
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156.20
12.04
8.35%
GB:HAYD
Haydale Graphene
0.33
0.18
111.46%
GB:SYNT
Synthomer
116.00
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6.42%
Itaconix Corporate Events
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...
Shareholder Meetings
Itaconix Adjourns AGM and Resets Proxy Deadline
Neutral
May 14, 2026
Itaconix plc has adjourned its Annual General Meeting, which was due to be held on 14 May 2026, to 10 June 2026 in London, with no business conducted and no resolutions considered at the original meeting. The company has set 8 June 2026 as the new...
Regulatory Filings and Compliance
Itaconix Chair Increases Personal Stake with Share Purchase
Positive
May 6, 2026
Non-Executive Chair Peter Nieuwenhuizen has increased his stake in Itaconix plc by purchasing 3,400 ordinary shares at £1.0935 per share on 5 May 2026 on the London Stock Exchange. Following the transaction, he holds 36,857 shares, equivalent...
Business Operations and StrategyExecutive/Board Changes
Itaconix Awards New Management Stock Options Under Long-Term Incentive Plan
Positive
Apr 23, 2026
Itaconix has granted 384,025 options over ordinary shares under its employee share option plan, including 216,350 options awarded to senior managers. Chief executive John Shaw and chief financial officer Laura Denner received new options tied to b...
Business Operations and StrategyFinancial Disclosures
Itaconix Hits Record Sales and Narrows Losses as Specialty Polymers Gain Traction
Positive
Mar 24, 2026
Itaconix reported record 2025 revenues of $10.5m, up 61% year on year, with gross profit exceeding $3m and margins holding at 35% as its core performance ingredients unit achieved a 41% margin. The company narrowed adjusted EBITDA losses to $0.6m,...
Business Operations and StrategyFinancial Disclosures
Itaconix Sets Date for 2025 Results and Investor Presentation
Positive
Mar 11, 2026
Itaconix plc, a developer of high-performance plant-based specialty polymers, plans to publish its preliminary financial results for the year ended 31 December 2025 on 24 March 2026, signaling an upcoming update on its trading performance and stra...
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.