Itaconix PLC (AIM:ITX, OTCQB:ITXXF) CEO John Shaw speaks to Thomas Warner from Proactive about how the company, which makes plant-based ingredients for consumer products, is positioned heading into the new year.
Shaw expresses optimism about the company's future and shared insights into its current status and strategies. Shaw highlights Itaconix's efforts to enhance its trading ability in the U.S., including overcoming challenges with share consolidations and brokerage protocols.
He addresses concerns about the company's decreased share price, emphasising the intrinsic value created through significant advancements over the past two years. Shaw pointed out the company's relatively low market valuation compared to its revenue growth and potential in the plant-based chemical sector.
Shaw downplays the notion of Itaconix as an acquisition target, focusing instead on the company's commitment to expanding its technology platform, which has significant potential and a robust customer project pipeline. He also dismissed the idea of moving to another market, citing satisfaction with the current investor base.
Addressing analysts' reducing of Itaconix's revenue expectations for 2024 and 2025, Shaw clarified that this does not indicate a downturn in business. He attributes adjustments to the normalisation of inflated chemical prices and reassured that Itaconix's profitability and commercial milestones remain on track.
Looking ahead to 2024, Shaw expressed confidence in the company's strong position, driven by revenue growth, a solid customer pipeline, and new initiatives, including a focus on digital marketing and smaller accounts.
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