Iofina (IOF) H2 2025 earnings summary

Executive summary

• Achieved record revenue, EBITDA, and production in 2025, marking the strongest financial results in company history.

• Revenue grew 22% to $66.5m, adjusted EBITDA rose 56% to $11.8m, and crystalline iodine production increased 17% to 743MT year-over-year.

• Expansion continued with the commissioning of IO #11 and construction of a new, larger plant in the Permian Basin, expected online in Q3 2026.

• The company is on track to surpass 1,000MT annual production and targets 2,000MT in the coming years.

Financial highlights

• Revenue: $66.5m (2024: $54.5m), up 22% year-over-year.

• Gross profit: $18.0m (2024: $13.2m), up 36% year-over-year.

• Adjusted EBITDA: $11.8m (2024: $7.6m), up 56% year-over-year; margin improved to 18%.

• Profit before tax (excluding subsidies): $8.4m (2024: $4.8m), up 75%.

• Post-tax earnings: $7.9m (2024: $2.9m), up 172%.

• Net cash: $5.2m (2024: $2.9m), up $2.3m.

• Average realised iodine price: $74.02/kg, up 8% year-over-year.

Outlook and guidance

• H1 2026 crystalline iodine production guidance raised to 385MT, up from previous 325–355MT.

• Permian Basin plant expected to add 170–220MT annual capacity, operational Q3 2026.

• Short-term pathway to exceed 1,000MT annual production; medium-term target of 2,000MT.

• Iodine prices expected to remain firm above $70/kg through 2026.