The selling action dragging the All Ordinaries Index (ASX: XAO) into the red today isn't holding back this surging ASX share.

The soaring stock in question is Clover Corp Ltd (ASX: CLV).

Shares in the nutritional ingredients company closed yesterday trading for 35.5 cents. In morning trade on Wednesday, shares just rocketed to 45.0 cents apiece, up 26.8%. Following some likely profit-taking, shares are currently changing hands for 42.0 cents each, up 18.4%.

For some context, the All Ords, down 0.6% in earlier trade, is down 0.1% at the time of writing.

Here's what's spurring investor interest in the ASX share.

ASX share leaps on surging revenue

Investors are bidding up the Clover share price today following the release of the company's half-year results for the six months ending 31 January (H1 FY 2025).

The ASX share reported a 38% year-on-year increase in revenue for the six months to $37.6 million.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) of $4.3 million was up from $300,000 in H1 FY 2024.

And with an improved customer/product mix and manufacturing performance, gross margins improved by 2.70%. This helped deliver a net profit after tax (NPAT) of $2.4 million, up from a net loss of $600,000 in H1 FY 2024.

As at 31 January, the ASX share held $15.4 million in cash.

Based on that strong cash position, Clover's directors declared a fully franked interim dividend of 0.75 cents per share. That's up from last year's interim dividend of 0.08 cents per share.

What did management say?

Commenting on the results sending the ASX share soaring today, Clover Corporation CEO Peter Davey said:

Strategic initiatives in product mix optimisation and manufacturing efficiencies contributed to an improvement in gross margins and EBITDA, which grew to $4.3 million. Our commitment to innovation, including non-allergenic and plant-based powders, continues to drive growth by providing new solutions for customers.

Davey credited improving business in Clover's European and Australian & New Zealand markets as helping overcome headwinds in its infant formula sales.

According to Davey:

Despite a subdued global infant formula market, we have seen a recovery of business across Europe and ANZ and are benefiting from an uplift in online sales and strengthening demand from our western manufacturing customer's.

Additionally, our expansion into DHA applications across pet food, nutraceuticals, sports nutrition, and adult nutrition is creating new revenue streams, while our investment in fish oil sourcing will help secure critical raw materials in a constrained market.

As for what's ahead for the ASX share, Davey said, "Operationally, we continue to drive efficiencies, with improvements at Melody Dairies supporting a lower cost of manufacture."

He added, "The integration of our Ecuador facility will deliver strategic and margin benefits, with crude oil deliveries having commenced in November 2024."