The low-sodium salt maker posted record first-half revenue and a big margin improvement, but its near-term growth now rests on a single major customer's rollout timing.
MicroSalt (AIM: SALT) reported record first-half revenue of US$1.4m, up 67% year-on-year, as the low-sodium salt specialist pushed bulk sales into food manufacturers and lifted gross margin to 12% from just 1% a year earlier.
The improvement came alongside a narrower net loss of US$1.5m, down from US$1.9m, as the group scaled production and won broader adoption among existing multinational customers. Management said momentum was underpinned by recurring demand and a growing pipeline of new commercial relationships, even as one previously flagged large snack food order slipped for logistical reasons unconnected to the company.
The bigger story for investors is what happens next. MicroSalt said it was in advanced talks with major food manufacturers, including one described as 'Customer 3', which could contribute around US$3.1m in the remainder of 2026 if its rollout proceeds as hoped, taking full-year revenue to US$4.5m.
That outcome is contingent on the timing of the customer's launch and the rollout of at least 17 new product formulations expected in the fourth quarter, underlining how concentrated near-term growth remains around a small number of key accounts.
Chief executive Rick Guiney pointed to the group's inclusion in a marquee product line at one of the world's largest snack food companies as validation of MicroSalt's ability to cut sodium without altering taste, and said the company delivered more than 1.4 billion 'healthier servings' globally in the period. Management reiterated confidence in reaching US$15m of revenue in 2027, a target that will depend heavily on whether the current pipeline of major customer qualifications converts into firm, scaled orders.
This report is based on MicroSalt’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full markets calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Jason Tuinstra on Unsplash.
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