Talk about this initiative.

Well, you're right.

Our immediate focus is on the value we bring to those 70 billion dishwasher cycles.

And then there are many more billions of laundry machine cycles.

And that will allow us to become a large, profitable, special ingredient company with these applications.

But our ambitions are much larger.

So we continue to develop new products and applications.

Looking at the wider consumer products industry, what changes are you seeing in the consumer demand and regulation? And how is Idaconics approaching the market?

So if you have anything you'd like to add to that, please jump in.

Hey, I think it might be, I think it'd be helpful for your audience to understand where we are today with academies.

You said military service academies, Laura, but they're only part of all of the federal service academies.

We have five.

There are the three that are the military service academies that fall under the Department of War, Air Force, Naval Academy, and Military Academy at West Point.

But we also have the US Coast Guard Academy in New London, Connecticut, which falls under the Department of Homeland Security.

And you have the United States Merchant Marine Academy, which falls under the Department of Transportation.

And so what would be a core competency that say a space command would want from a space academy?

You, you've talked about a clear path to, to 30 million of annual revenue, so, uh, talk to me about, uh, what's giving you confidence in, in, in suggesting that, John.

Well, it's the strength of our automatic dish, uh, detergent, uh, business and what we're doing there, uh, in terms of bringing new formulations out.

Um, we've been successful, uh, with the polymer itself of selling it, uh, to formulators.

Uh, we're accelerating it with both our SPARX formulated solutions, uh, and we've advanced that more with our deeperclean.com initiative, just to make sure we can accelerate the reformulation process for people.

Um, and with that, we're just building a, a base of customers with lots of revenue momentum built into it.

Um, our biggest growth last year, uh, in the first half, came from existing customers, by far the most amount of growth, but we are also are continuing to add new customers, and those new customers will start advancing over the next, uh, year to two to three years of growing.

So already built into our customer base now, uh, is a tremendous amount of growth.

Can you talk to me a bit about that?

Good afternoon to you, sir.

Thank you.

We look forward to going through our results today and giving you some overview of what we've done and where we end up, where we'll be going in the near term here.

So we started with a very good first half, record half-year revenues, our fourth half of revenue growth, excellent commercial progress.

What's most exciting is we achieved our first half of breakeven EBITDA profitability.

We expanded our overall revenues to existing customers.

We landed new important customers and we achieved that breakeven profitability while still investing in new applications, new products, and key operating improvements.

So I'm going to turn it back over to John to talk a little bit about our growth path and how we're going to achieve those ambitions.

What is your take? What is this policy actually, yeah, trying to solve?

I think the most remarkable thing about the executive order is how it's different from previous space transportation policy documents that, like Joel mentioned, the 2013 one and 2013 one and one's Before that, those all focused almost exclusively on launch, right? Get it from the launch pad into orbit.

How do we have, we've used the term assured access that came into being about 25 years ago.

And that was really what the focus of space transportation was.

I think what's interesting about this executive order is that it really broadens it beyond launch.

There's some interesting language in there.

It's really not about launch.

And if anybody wants to know anything more about, you know, maneuver warfare, I say you should go and read John Shaw's piece in Forbes.

Wow.

And, um, about 20 or 30 minutes passed, and Petey, we took him out for a walk, but he really wasn't expressing any more of those conditions, coughing or tremoring or anything, and we thought, "Well, well, maybe he's doing okay.

Maybe he's got it out of his system, whatever it is.

Let's go back inside and have him double-checked before we leave." And so we came back in, and my wife decided to go ahead and head to the car, so I came in, had him checked out.

He was good to go.

And as I pivoted to leave, I saw the couple again, and their concern was still pretty intense, and there was this pause.

Holy Spirit nudge.

Mm

And John, is that the reason behind the growth is just the amount of uses? Is that's where it's coming from?

more and more uses we look at it taking our products through ignition traction and take off ignition is when you uh start getting a little bit of use uh traction is when more and more brands start finding it and then take off is really when it becomes almost a competitive imperative to be competitive in a marketplace by using our ingredients So our lead product is unit-dose dish detergent applications with our threshold scale inhibitors on it.

We kind of worked our way from ignition with that in kind of 2018 to 2022, started getting more traction, 2021 to 2024, particularly in the U.S. Europe started really going in 2024, and we are now – firmly in kind of the early stages of takeoff in both US and particularly in Europe in terms of the breadth of use.

We think unit dose laundry is starting to progress through those stages too, particularly with our odor neutralizer in the US.

And laundry is actually a much bigger market than detergents.

So we have great products.

That's what we need to be a $100 million company.

So this is all in all is a big win for those folks that have really followed the company for so many years.

Maybe going back to the World Cup, how and why do you think those large scale sporting events are driving engagement? And, you know, also then an uptake for people actually participating in gambling?

Yeah, I think in the case of football, so football is still a big player in retail, so horse racing, football, the dominant products there.

for betting on um but i think it drives interest like around engaged gamblers who bet anyway but also more recreational ones uh people that might only bet every now and then um because they have an interest um and you'll see this in all sports really see the operators will always see an uptick in turnover and activity on say in golf you when it's the open or the masters compared to a normal run of the mill event or event.

So I think you probably have quite a lot of cohort of more social customers as well that perhaps bet infrequently, may have a dormant account or may be new to it so it's probably a time where operators try and get, acquire those new customers.

I'm sure there'll be a lot of offers in the incentives and promotions to a big event like you said earlier like the Grand National or high profile football events.

So yeah, I think that's the next stage, isn't it? That as the tech needs to be really good and that those platforms need to be really good, otherwise people are, yeah, are not going to enjoy them and want to continue doing them so we've talked about the world cup we've talked about football um what about other sports so i don't know i'll pick a sport that i enjoy cricket is cricket a bit different when it comes to these sorts of like betting behaviors and what those operators are doing

yeah so cricket for certain things so like 2020 or the one day match that's it's kind of got a defined set of overs the models probably work quite well for that but I think something like test match cricket needs more human oversight because it's a different sort of game so there's a lot of variables at play so like the pitches can change over time you've got the weather you know and it's trying to build all that stuff in it doesn't run quite as neatly on a model it's not a yes you've got five days but you haven't got a certain amount of overs it needs that human to say you know are this team going to go for it and try and win or are they just playing for a draw you know is there going to be a two hour rain delay on the fifth day morning or is the weather looking okay so it needs quite a lot more oversight and I think the same one of the sports I enjoy snooker is quite similar so you can have a situation in snooker where someone's 50 points ahead they miss say O'Sullivan comes to the table and if all the reds are open the colours on their spots he's probably favourite to win the frame even though he's 50 points behind.

But another situation, you can be 50 points ahead and, you know, colours and reds are on cushions and a 50-point lead is absolutely huge and he's certainly not the favourite to win.