Overview

• UK plant-based specialty polymers maker's H1 2026 revenue rose 72% yr/yr to record $8.3 mln

• Company raised FY 2026 revenue outlook to at least $14.8 mln, above current market expectations

• Growth driven by strong reorder volumes and new customers in EMEA and North America

Outlook

• Itaconix expects FY 2026 revenue to be no less than $14.8 mln, above prior forecasts

• Company continues to expect a small positive EBITDA for FY 2026

• Itaconix says re-order rates are not yet firmly established for the remainder of FY 2026

Result Drivers

• REORDER VOLUMES - Growth driven by strong reorder volumes from existing customers in Performance Ingredients, especially in dish detergent markets in EMEA and North America

• NEW CUSTOMERS - Addition of new unit-dose dish detergent customer in EMEA and new unit-dose laundry detergent customer in North America contributed to revenue growth

• SPARX FORMULATIONS - Increased use of SPARX Formulated Solutions in North America for solid unit-dose dish and laundry detergents supported segment growth

Company press release: ID:nRSQ7204Ma

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
H1 Revenue		$8.30 mln

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• Wall Street's median 12-month price target for Itaconix PLC is GBp325.00, about 176.6% above its July 16 closing price of GBp117.50

• The stock recently traded at 191 times the next 12-month earnings vs. a P/E of 411 three months ago

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