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Itaconix Plc

0.30 (6.25%)
Share Name Share Symbol Market Type Share ISIN Share Description
Itaconix Plc LSE:ITX London Ordinary Share GB00B84LVH87 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.30 6.25% 5.10 1,124,989 15:02:24
Bid Price Offer Price High Price Low Price Open Price
5.00 5.20 5.10 4.80 4.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals & Chem Preps, Nec 2.60 -0.46 -0.10 - 22.96
Last Trade Time Trade Type Trade Size Trade Price Currency
16:26:46 O 8,000 5.18 GBX

Itaconix (ITX) Latest News

Itaconix News

Date Time Source Headline
24/5/202307:00UKREGItaconix PLC Notice of Final Results, Briefings, and AGM
25/4/202307:00UKREGItaconix PLC Appointment of Joint Corporate Broker
02/3/202315:25UKREGItaconix PLC TR-1
01/3/202307:00RNSNONItaconix PLC Award from Frost & Sullivan
28/2/202318:03UKREGItaconix PLC TR-1
28/2/202317:04UKREGItaconix PLC TR-1
28/2/202315:09UKREGItaconix PLC TR-1
23/2/202307:00UKREGItaconix PLC TR-1
22/2/202314:16ALNCNewsItaconix raises GBP10.5 million to fund new product development
22/2/202312:28UKREGItaconix PLC Results of Open Offer, GM and Total Voting Rights

Itaconix (ITX) Discussions and Chat

Itaconix Forums and Chat

Date Time Title Posts
02/6/202320:15Itaconix formerly Revolymer9,460
06/12/202216:01where's lucky38
15/7/202213:33GET OUT BEFORE ITS TOO LATE!!!!(11/04/02)149
16/6/202114:54Inter_X holders ready to do a big brown plop soon152
16/6/202114:45Anyone still holding any of this ?28

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Itaconix (ITX) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Itaconix (ITX) Top Chat Posts

Top Posts
Posted at 20/5/2023 11:31 by lefrene
Indeed wheeze, it's a valid question. Why do they need to engage another broker? Perhaps the lift in the share price 18 months ago was because something leaked?

The £10.5 million capital raise has plainly been done on insider information, that sort of money is not handed over to a whitecoat basket case just to keep directors mortgages funded. Usually things do leak, but so far the chinese walls are holding fast.

Going by posts in another place it appears that deliveries of raw materials has jumped over 10 fold, that only happens if you have orders to fill. So where is the demand coming from? Why have shareholders not been informed of this jump in supplies of raw materials, and the reasons behind it?

It feels like it's worth waiting to find out.

Posted at 19/5/2023 12:07 by lefrene
Interesting comment from AJP08 in another place.

If he is correct that company consumption of raw materials has risen 12 fold, then something very significant is being withheld from shareholders!


"Hi DB

Let's hope that this is the case, the next update will be crucial as to how the share price progresses.

On an aside, was looking at the raw material imports to ITX and it would suggest that we are currently using around 20,000Kg or 20 Metric Tonnes a month, not sure what that equates to in ingredients as we do not know what conversion ratio is, but what we are going through in a month is roughly equivalent to what we used to do in a year, now that is progress?

Update getting ever closer !!!



Posted at 11/5/2023 15:02 by parob
I really hope there weren't too many who followed PATT and sold ITX to buy ENET. I just noticed the news there. Absolutely hate seeing fellow investors lose money through hugely discounted placings. Goes to show what a great job John Shaw did getting a huge placing away at a very small discount to the prevailing share price here.
Posted at 14/4/2023 13:09 by parob
Plenty of other AIM shares are making comebacks especially those that are funded and it won't be long until ITX starts rising again imo. ITX margins are rising and so are the number of products with ITX ingredients inside. The market potential for the Itaconix technology platform is defined broadly by the US$20 billion in current uses for acrylic acid and styrene in consumer care, hygiene, water solutions, agriculture, composites, and coatings.I hope the rise is slow and steady when it comes. It's certainly going to be interesting to see where some of that placing money goes. We are due some news here soon I reckon.
Posted at 05/4/2023 10:27 by purchaseatthetop
Ghost who walks. That should be the target for a product that has unique IP that adds value for the customer because of its protected properties. What is certain is that it should not be 26%. There is no future for ITX at those levels. I simply raise it as the main issue stopping a real share price rise and perhaps why so much working capital is required. If you double revenue but have a gross margin of 26% snd long payment terms your inventory and receivables are going to mushroom.
Posted at 07/3/2023 05:50 by purchaseatthetop
The problem that the BoD must solve or mitigate is the gross margin problem:

14/9/22 RNS:

First half revenues of $3.1 million were 124% higher than the first half of 2021, 148% higher than the second half of 2021, and 40% higher than our prior record half-year revenues of $2.2 million in the second half of 2020.

· Gross profits were $0.8 million, representing an increase of 45% over the first half of 2021 and an increase of 332% over the second half of 2021.

· Gross profit margin was 25% compared to 27% for the full year of 2021 This slight decline in gross profit margin was due to a higher percentage of revenues from large detergent customers and price support for two large customers.

With overhead of $2m every six months (per last accounts plus inflation and some growth) then ITX needs $8m of revenue in six months to basically breakeven. Hence $16m a year.

The reasons for the lower gross margin were specified as:
"The lower gross profit margin was due to a higher percentage of overall revenues from cleaning volumes, continuation of 2021 pricing commitments into early 2022 to support marketing campaigns for a large detergent customer and a new customer in sustainable leather, and the effects of some price inflation on production overhead expenses."

Cleaning volumes...sales of cleaning products in 6 months to 30/6/22 were $2.7m out of the total $3.1m. Cleaning sales are the sales (well 90%).
Pricing commitments...are these now the established reference price?
Price inflation...fact of life. Need to pass that onto the customer.

As far as I see this is the only thing that matters right now and gross margin are terrible especially as the accounts say "These customers are increasingly relying on our ingredients for competitive advantages in everyday products used for cleaning, beauty, and hygiene.".

On the positive side, I assume that the funders would have looked at this is exactly the same way as I do to a degree and they should have some answer as to how and when the gross margin will be above 35 to 40% where it needs to be.

Compare ITX to my pet ENET. ENET are now looking at $9m revenue for 2023 with a gross margin of 60% plus. That is a gross margin of $5.5m to pay overheads that are just a little more than ITX. To generate gross margin of $5.5m right now at 25% then ITX needs an annual revenue of $22m!

If ITX can get this issue sorted then this share will fly. Again. And this time for real. GLA.

Posted at 22/2/2023 13:28 by rivaldo
Nice commentary today from the CEO:

"We have successfully raised gross proceeds of £10.5 million. I am extremely pleased to welcome new institutional shareholders to the Company. We are now entering a new stage of development as we aim to become a much larger sustainable ingredient company. Our strong balance sheet now gives us the opportunity to target higher revenue growth from our current ingredients. There are a number of exciting opportunities for us to develop new ingredients and increase revenues from our substantial itaconate technology platform. We approach the future with more commercial progress, more resources, more potential, and more optimism than ever before."

The main point here is that ITX are now extremely well funded, and the 5.1p per share achieved is a very encouraging price.

I'm pleasantly surprised the Open Offer was 58% taken up given the share price in the market!

Today's RNS also confirms that the Chairman subscribed for a very decent £40,000 or so of new shares. The CFO and CEO at £4k were slightly more modest...

Posted at 03/2/2023 08:18 by parob
Well this puts to bed any worries about funding and plenty of money raised at a very small discount.A trading update in their too:-- The Company expects to report revenues for the full year to 31 December 2022 AHEAD OF MARKET EXPECTATIONS at US$5.6 million, representing 115% growth when compared to revenues of US$2.6 million in the year to 31 December 2021. I see PATT who sold out at the lows to buy ENET at 60p+ is up to his usual bitter tricks and trying to de-ramp immediately. His beloved ENET's last placement was at a huge discount and he is still on a rampathon on their bb. Just take a look at the ENET chart or their bb where PaTT is a laughing stock.Anyway, 2023 should be a year of significant growth for ITX and I can see the share price moving up strongly once the placing shares have been churned.Good luck all genuine holders.
Posted at 25/1/2023 12:26 by parob
Courtesy of RoyRoy on the lse bb:From what the company have said, I thought it was a given that there was a "...a distinct prospect of a faster than expected move toward profitably". Previous trading update (H1 22 Results ) says "The Company is in a strong position to deliver 2022 revenues ahead of current market expectations and is making major progress towards building the customer base to meet market expectations for revenues in 2023."??In fact John Shaw stated last year that:?"Hygiene was already profitable."?"Cleaning will get break even 2022."?Beauty growing slowly ("slow growth").??He's also said that they really don't use a lot of cash to operate stating they'd got cash burn down from around $2m per year to "...closer to $1m per year".??One of the reasons I'm in ITX is the good visibility on future revenue. Working with customers for a year or 2 on integrating ITX product into their solution, working with order estimates, and the fact that these contracts are "sticky" means John Shaw and the team must have a solid idea of future cash flow.??ITX have no debt. By all accounts, they'll go cash flow positive in 2023 which i believe are "market expectations for revenues in 2023.'??So, respectfully I don't agree that "...ITX is definitely not for the faint-hearted".?IMHO ITX is maybe the best risk return opportunity in AIM and by my calculations could (and should) be a solid 10x in the coming 5-8 years.??John had stated earler his goal was to get to $75m revenue....which is a around a 15x from here. That target was set before superabsorbant trials began in earnest... ??Superabsorbants could move "Itaconix's addressable market increased from $750 million to $2.3 billion."?Just think about these numbers and you'll start to see why I say "maybe the best risk return opportunity in AIM".??This is a great company to get to know so I'd advise new and old investors to read/re-read the previous RNSs and watch the presentations. ?
Posted at 16/1/2023 19:53 by thordon
owenski going green is the way forward , these company's as well as ITX will dominate replacement of fossil fuel and degrade without harming the environment.
Do not care if it takes 1 to 5 years to got dominance as this will happen.
50% of hair dye and 25% of shampoos use ITX ingredients , detergence less than 1% sales but the mayor growth for ITX.
PS Hair dye and Shampoo use a minor amount but detergence use more volume of ITX Ingredients.
Its not always about share price , its the fact this could be the next croda.

Itaconix share price data is direct from the London Stock Exchange
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