Itaconix Full Year 2023 Earnings: US$0.12 loss per share (vs US$0.28 loss in FY 2022)

Sat, Apr 20, 2024, 1:35 AM 1 min read

Itaconix (LON:ITX) Full Year 2023 Results

Key Financial Results

Revenue: US$7.87m (up 41% from FY 2022).
Net loss: US$1.54m (loss narrowed by 38% from FY 2022).
US$0.12 loss per share (improved from US$0.28 loss in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Itaconix Earnings Insights

The primary driver behind last 12 months revenue was the Performance Ingredients segment contributing a total revenue of US$5.96m (76% of total revenue). Notably, cost of sales worth US$5.43m amounted to 69% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$4.07m (100% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$93.0k. Explore how ITX's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 2.3% decline forecast for the Chemicals industry in the United Kingdom.

Performance of the British Chemicals industry.

The company's shares are down 10% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Itaconix (1 doesn't sit too well with us!) that you should be aware of.

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