MicroSalt reported record half-year revenue and sharply improved margins, but the low-sodium salt maker’s growth for this year hinges on rolling out to a single major customer.
The company’s long-term success depends on whether it can reach $15m in revenue next year, as it has again guided today.
The company said revenue rose 67% to a record US$1.4m in the six months to 30 June, driven by bulk sales to food manufacturers, while its gross margin jumped to 12% from just 1% a year earlier. Management expects gross margin to grow further as revenue increases. It stopped short of saying by how much.
Its net loss narrowed to US$1.5m from US$1.9m.
The company said it was in advanced discussions with major food manufacturers, and that one, referred to as “Customer 3”, could generate around US$3.1m in the rest of 2026 if it proceeds, which would lift full-year revenue to US$4.5m.
That outcome depends on the timing of the customer’s rollout and its launch of at least 17 new product formulations in the final quarter.
MicroSalt said a strong pipeline left it confident of a US$15m sales forecast for 2027.
Rick Guiney, CEO of MicroSalt, said: “The first half of 2026 demonstrates the continued strength of our commercial model. Despite the previously reported delay in rollout of the very large snack food order for logistical reasons unrelated to MicroSalt, revenues still increased by 75%; we expanded relationships with existing multinational customers, secured new customers and delivered more than 1.4 billion healthier servings of MicroSalt globally.
“Importantly, momentum continues to be driven by recurring customer demand, expanding product adoption and a growing commercial pipeline. While the qualification process for large food manufacturers can be extensive, requiring rigorous testing, validation and reformulation work, successful adoption typically reflects a significant investment by customers in our product and helps foster long-term commercial relationships. MicroSalt is being rolled out into one of the marquee product lines of one of the largest snack food companies in the world, providing absolute validation of our products efficacy in reducing salt, whilst keeping the flavour profile unchanged.
“We believe MicroSalt is increasingly establishing itself as a commercially proven solution for food manufacturers seeking meaningful sodium reduction without compromising taste, functionality or clean-label requirements. With improving margins, increasing revenue visibility and continued innovation across our product portfolio, we remain confident in our proposition.”