EQS-News

XTPL records all-time high revenues, Strategy execution remains on track - Seite 2

“With this horizon in mind, we have already started key investments, which include increasing production capacity, expanding the team and undertaking sales-oriented activities, such as hiring Managing Director for North America and prospective opening of a Demo Center in Boston in the second half of 2024. We are poised to gain a stronger foothold in this key market for the additive technologies industry. Only a few years ago, XTPL was a small startup with an R&D profile, and now we have matured into an organization that effectively and globally commercializes its technology with a vision of a significant scale-up of the business by the end of 2026. Over the last 12 months, we have doubled our employment and currently have over 90 high-class experts working for the future success of XTPL, in a well-organized structure tailored to our strategic plans. I trust this will translate into final success, including the first implementation of the XTPL technology for an international maker of advanced electronics” Filip Granek adds.

In 2024, XTPL generated PLN 15.5 million in total revenues, including PLN 13.4 million in revenues from the sale of products and services, up 21% and 34% year-on-year, respectively. Commercial revenues contribute a record-breaking 87% to total revenues, with the remainder being grant income. In 2023, EBITDA was PLN -3.0 million, which is consistent with the assumptions of the Strategy and ongoing investment plan focused on scaling up XTPL business. Cash position was PLN 27.3 million at the end of December, which comfortably secures the first stage of those investments. In 2023, net cash flow was PLN 21.2 million, mainly due to the recognition of proceeds of PLN 34.6 million net from the public offer completed in July last year.

“We’ve had another strong 12-month period in a row. We fully leveraged last year's production capacity for the Delta Printing System, and delivered 13 of those XTPL technology demonstrators to clients from industrial and scientific communities. We’ve also made significant progress in the projects aimed at industrial implementations. In mid-2023, we moved to the key, fourth stage of that process: building a prototype of an industrial device containing our module. We did that with two clients: a Nasdaq 100-listed, one of the world's largest makers of industrial machines for new generation electronics manufacturers, and HB Technology from South Korea, a manufacturer of devices for testing and repairing devices for such names as Samsung Display Corporation and Beijing BOE Display Technology. In recent weeks, our Korean partner has ordered another module for industrial implementation, so the industrial device prototype will soon be tested both at the end client and at HB Technology. In turn, in recent days, we have expanded the group of industrial partners to include a leading manufacturer of machines for the modern display industry from China, to whom we will deliver a module for industrial implementation in the months to come” says Jacek Olszański, CFO of XTPL.