Polish digital 3D printing {hardware} and conductive inks producer XTPL generated over PLN 5.5 million in revenues from the sale of services and products, virtually a double of the year-ago determine. Grants included, the whole income for the primary half of 2023 is PLN 6.9 million (equal to about $1.6 million USD), up virtually 50% year-on-year. Within the second quarter alone, revenues from the sale of services and products have been over PLN 2.5 million. Along with grants, they reached PLN 3.3 million.

XTPL is making preparations for elevated funding actions, a follow-up to the general public provide accomplished in July this yr that has introduced the Firm proceeds of greater than PLN 36.5 million to speed up progress and execute the funding plan for 2023–2026. The aim is to spice up revenues from the sale of services and products 10 occasions to PLN 100 million by the top of 2026. XTPL expects that in the entire of 2023, it’s going to totally use its manufacturing capability for Delta Printing System (DPS) units, with greater than 10 models to be delivered and settled by the year-end. The Firm delivered 5 DPSs throughout the first six months of the yr alone.

“I bear in mind how thrilled we have been once we obtained the primary order for the Delta Printing System in the beginning of 2021. And immediately the variety of orders has elevated by one other 20 in complete. 5 units have been delivered within the first half of 2023, with much more to be deployed for purchasers within the latter half of the yr, which makes us optimistic concerning the income potential of the upcoming six months. What excites us now could be the even better acceleration of XTPL’s improvement and the scaling of our enterprise to realize the bold plan of a 10-fold improve in revenues from the sale of services and products to PLN 100 million by the top of 2026. To this finish, in latest months we’ve got carried out a profitable situation of sequence V shares that has introduced us proceeds of over PLN 36.5 million, with demand a number of occasions increased than the amount of the provide. On the one hand, that is testomony to the efficacy of our enterprise mannequin and the validity of our progress prospect assumptions, and then again, this secures a major a part of the financing wanted for our 2023–2026 funding plan, which gives for the allocation of approx. PLN 60 million in the direction of growing our manufacturing capability, supporting gross sales actions, or selling R&D efforts” stated Filip Granek, CEO of XTPL S.A.

In H1 2023, XTPL generated PLN 6.9 million in revenues, up virtually 50% year-on-year, with revenues from the sale of services and products coming in at PLN 5.5 million, virtually double of the determine reported in H1 2022. On this interval, EBITDA was PLN -0.8 million in comparison with PLN -2.2 million a yr earlier. In H1 2023, the Firm’s web loss was PLN -1.8 million, lowered from PLN -2.7 million in the identical interval final yr. Money movement for the primary six months of the yr was PLN -3.0 million, affected by the beginning of implementation of the Firm’s funding plan. At finish of June 2023, the money place was PLN 3.0 million, and after the steadiness sheet date, in August, XTPL obtained proceeds from the sequence V share situation accomplished in July this yr.

“We’re targeted on our aim to realize PLN 100 million in revenues from the sale of services and products by the top of 2026. Because of this our leads to particular person quarters would possibly fluctuate in response to the supply of our investments deliberate for 2023–2026. In the course of the first half of the yr, we constantly targeted on commercializing our product portfolio. In consequence, two extra of our initiatives moved on to a complicated part, i.e. the stage of constructing a prototype gadget containing our printing module for closing exams on finish purchasers’ manufacturing strains. A kind of purchasers is a Nasdaq 100-listed main producer of business equipment, and the opposite consumer is without doubt one of the world’s largest producers of Flat Panel Shows. Because of this we have already got 4 superior industrial initiatives being developed within the areas we contemplate strategic, particularly: semiconductors, shows and superior PCBs. I’m emphasizing this enterprise line not solely as a result of we count on to ship printing modules within the second half of the yr with a ensuing optimistic contribution to leads to that interval, however primarily as a result of in the long run this would be the key enabler of the XTPL enterprise progress. The primary full implementation of our expertise on an industrial scale might considerably speed up our different initiatives: 9 in complete, that are being developed concurrently” stated Jacek Olszański, CFO of XTPL.

In Might this yr, XTPL introduced its plan to extend revenues 10 occasions to PLN 100 million by 2026. To realize this ambition, XTPL intends to make investments of roughly PLN 60 million in 2023–2026 in three key areas: gross sales, manufacturing and R&D, designed to step up the Firm’s improvement to answer purchasers’ demand for the expertise supplied by XTPL. The investments deliberate are to be funded primarily from the share situation proceeds, whereas the rest will come from fairness (working money flows), grants and doubtlessly, debt financing.

“We’re happy that the Firm’s improvement can be acknowledged by the broad capital market, the place – after the closing of the trade session on September 15 – XTPL grew to become member of the sWIG80 index. This can enable us to achieve an excellent wider group of buyers and, as we hope, can have a optimistic influence on the common buying and selling quantity in the long run. We’ve additionally earned a world recognition: for instance, we have been invited to take part in SEMICON Taiwan, probably the most globally vital occasion within the semiconductor business. We’re more than happy with the curiosity generated by our providing and with the variety of enterprise conferences we’ve got. This makes us much more sure that the semiconductor business is considered one of our key markets. On September 8 this yr, we entered into an settlement on non-exclusive distribution of our options with Detekt Expertise Inc., an organization working in Taiwan for 20 years, which can assist us commercialize each DPS and industrial modules in that a part of the world” Filip Granek added.

XTPL’s enterprise mannequin relies on three complementary enterprise strains. These are printing modules for industrial implementation on the manufacturing strains of world producers of electronics, the Delta Printing System prototyping units and conductive nanoinks. The Firm has a complete of 9 initiatives aimed toward industrial implementation of its expertise, 4 of that are at a complicated stage of improvement. They cowl all three areas the Firm considers strategic: semiconductors, shows and superior PCBs. The potential common annual revenues from all 9 industrial initiatives being developed at current totals an estimated PLN 400 million. The Firm’s finish clients are international entities accountable for the manufacturing of subsequent technology electronics, together with a number one semiconductor producer from Taiwan, one of many world’s largest producers of FPDs (Flat Panel Shows) from South Korea and a prime producer of business machines from the USA, listed on the Nasdaq 100 index.

Since its inception, XTPL has been working a rigorously developed industrial and mental property safety coverage, having 8 patents granted and a complete of 26 patent functions filed from September 2019 to September 2023.