Iofina (IOF) H1 2026 earnings summary

Executive summary

• Achieved a 29% year-over-year increase in iodine production for H1 2026, reaching 393.3MT, driven by new plant capacity and favorable operational conditions.

• Revenue rose 7% to $31.3 million, with gross profit up 62% to $10.2 million, reflecting higher volumes and lower production costs.

• Adjusted EBITDA more than doubled to $6.6 million, and net cash improved to $7.2 million from a negative position last year.

• Continued expansion with IO#12 nearing completion and agreements signed for IO#13 and IO#14, supporting the pathway to 2,000 metric tons annual capacity.

Financial highlights

• Iodine production increased by 88 metric tons, mainly from IO#11 and improved output at legacy plants.

• Gross profit margin improved to 33% due to a 15% reduction in average production cost per kilo.

• CapEx totaled $5.8 million in H1 2026, primarily for IO#12 and IO#11 projects, fully funded by operating cash flow.

• Net cash inflow from operations was $7.6 million, with period-end net cash at $7.2 million.

• Operating profit rose 178% to $4.9 million; earnings per share grew to $0.018.

Outlook and guidance

• IO#12 expected online within weeks, increasing total production capacity to approximately 1,000 metric tons.

• IO#13 and IO#14 targeted for completion in H1 2027, with anticipated above-average plant capacities.

• H2 2026 crystalline iodine production expected at 460-485MT; Board confident in meeting full-year market expectations.

• Demand for iodine remains strong, with sales secured for projected output and new customer opportunities being developed.