In the first half of 2024, XTPL generated total revenue of PLN 6.1 million (approx. $1.63 million), including PLN 5.6 million (approx. $1.50 million) from the sale of products and services. This compares to PLN 5.5 million (approx.$1.47 million) achieved in the corresponding period of the previous year. The primary contributor to XTPL’s current results, once again, was the sale of devices from the Delta Printing System – the company delivered 6 devices to international customers during the said period.
Industrial projects, in which significant progress was made in the second quarter of 2024, are crucial to the implementation of XTPL’s long-term vision of development. A new customer, a leading Chinese manufacturer of machinery for the FPD display industry, which provides services for a Shenzhen Stock Exchange-listed entity with revenues of several tens of billions of USD, placed the first order for an industrial module. Currently, the prototype device with the XTPL module is built, launched and has begun the testing phase.
The second industrial module was provided to HB Technology from South Korea, further strengthening the ongoing collaboration and intensifying the testing stage of the UPD’s technology. XTPL continues to implement the Strategy for the years 2023-2026, which supports the achievement of the target of PLN 100 million (approx. $26.84 million) in commercial sales by the end of 2026.
XTPL CEO, Filip Granek, pointed out that the delivery of additional DPS devices in the first half of the year moves the company closer to a total sale of nearly 30 such technology demonstrators to customers in over 20 countries worldwide.
In the first half of 2024, XTPL generated total revenue of PLN 6.1 million (approx. $1.63 million), and sales revenue of PLN 5.6 million (approx. $1.50 million), compared to PLN 6.9 million (approx. $1.85 million) and PLN 5.5 million (approx.$1.47 million) respectively in the same period the previous year. The remaining value represents subsidies where the company currently carries out an international project in consortium as part of the Horizon Europe program and is preparing to launch another.
By implementing the strategy for the years 2023-2026, the company expanded XTPL’s production capacities in all business lines and increased its ability to deliver industrial modules to customers more quickly. Ongoing R&D work on new products and functionalities is going on as planned.
Concluding, Jacek Olszański, Board Member for Finance at XTPL, stated that XTPL’s business expansion process is being carried out according to plan and will enable them to increase commercial sales tenfold to PLN 100 million by the end of 2026. In addition, the company is also preparing to launch a demonstration and sales center in Boston, USA, by the end of 2024, creating more sales opportunities.
Source: https://managerplus.pl/xtpl-zwieksza-przychody-w-i-polroczu-2024-r-40157
