Agilyx (AGLX) H1 2025 earnings summary

Executive summary

• Transitioned from technology licensing to a global investment platform focused on plastic waste feedstock for recycling, expanding in Europe with a 44% stake in Green Dot, the EU's largest recycling platform.

• Strategic investments and partnerships in Cyclyx (US) and Green Dot (Europe) provide access to large volumes of waste plastic and long-term offtake agreements.

• Commissioned Chiba facility in Japan and initiated monetization of proprietary Styrenyx technology.

• Green Dot acquisition expected to deliver significant commercial synergies and a 30%+ IRR.

• Positioned as a global leader in plastic recycling feedstock, with major infrastructure in the US, Europe, and Japan.

Financial highlights

• H1 2025 revenues stable year-over-year at $0.4 million; operating loss narrowed to $5.3 million from $6.3 million due to cost control.

• Net loss increased to $11.9 million, including $6.2 million share of Cyclyx loss; total comprehensive loss in line with prior year.

• Cash and equivalents: $10.7 million; total cash and restricted cash: $50.7 million as of June 30, 2025.

• Green Dot H1 2025 revenues: €219 million; EBITDA: €6.9 million.

• Operating cash outflow reduced to $3.9 million from $6.7 million, reflecting tighter cost management.

Outlook and guidance

• Green Dot projected to reach €600 million revenue and €50 million EBITDA by 2030, with expansion in Germany, Austria, and Italy.

• Cyclyx aims to commission CCC1 Houston by end-2025 and CCC2 Dallas-Fort Worth by end-2026, with 10-year offtake commitments from ExxonMobil and LyondellBasell.

• Focus on cost discipline, expanding Green Dot’s recycling volumes, and achieving breakeven in Italy.

• Exploring potential dual US stock exchange listing in H1 2026 to enhance liquidity.

• Total income to reach $89 million by 2030 from Green Dot and Cyclyx platforms.