XTPL generated total revenue of PLN 1.6 million in the first quarter of 2026, including PLN 1.2 million from the sale of products and services. The company said the result was supported by the delivery of a Delta Printing System (DPS) device to a customer in Asia, the delivery of the final Ultra-Precise Dispensing (UPD) module under the first tranche of an order from one of the world’s largest display manufacturers in China, and the delivery of a second UPD module as part of a technology evaluation process with a Nasdaq-100-listed customer from the United States.
The US customer is one of the key global manufacturers of production equipment for the semiconductor and advanced display industries. At the same time, XTPL began commercialising its new ODRA business line in March 2026, securing its first order from an industrial customer based in Silicon Valley. The customer operates in the field of advanced semiconductor packaging and cooperates with the defence sector.
XTPL expects further ODRA system orders in 2026, with deliveries planned for the fourth quarter of this year or in 2027. The company also strengthened its financial position by securing nearly PLN 30 million through a successfully completed public offering and funding granted by the National Centre for Research and Development.
According to XTPL, the company continues to work on projects intended to support growth in the coming periods. These include negotiations on a second, larger tranche of orders under its ongoing industrial implementation project.
“The first quarter of 2026 was a period of key actions for XTPL, strengthening the foundations for the implementation of our 2026–2028 Strategy. The results of the reported period do not yet reflect the potential we have built recently, but the decisions taken support the company’s growth in the coming years. We secured financing for further development, we are negotiating the next tranche of orders under our first industrial implementation with one of the world’s largest FPD display manufacturers from China, and we are conducting advanced evaluation processes with other entities. The UPD modules delivered by us are operating on an industrial production line, confirming the successful transition from ‘lab to fab’, thanks to which XTPL is gaining global credibility among the world’s largest manufacturers of advanced electronics,” said Filip Granek, CEO of XTPL S.A.
He added that the company had also started commercialising another value driver: ODRA systems.
“We obtained the first order from an industrial customer from Silicon Valley operating in advanced semiconductor packaging and cooperating with the defence sector. Unlike DPS devices, ODRA systems are not intended for R&D work, but for small-scale production in the HMLV model, meaning a wide range of products in low volumes. This significantly increases their sales potential, enabling multiple deliveries to individual customers. We are observing particularly strong interest from the US market and the defence sector, and we expect further orders still in 2026,” Granek said.
In the first quarter of 2026, XTPL reported total revenue of PLN 1.6 million, including PLN 1.2 million from the sale of products and services, with the remaining amount coming from grants. EBITDA for the period stood at PLN -3.9 million. Cash and cash equivalents declined to PLN 2.1 million as of 31 March 2026.
The funds from the public offering completed in March, through which the company raised PLN 19.5 million gross, were recognised in April, after the balance sheet date. They will therefore be reflected in XTPL’s results for the second quarter of 2026.
XTPL currently commercialises three business lines: UPD modules, which are printing heads designed for industrial implementation on production lines of global electronics manufacturers; DPS prototyping devices, which act as technology demonstrators; and High Performance Materials, including nanoinks and consumables used by UPD and DPS systems.
In March 2026, the company launched the commercialisation of its fourth business line: ODRA systems, developed for small-scale industrial HMLV production. The new product fills the space between DPS devices and UPD modules, addressing the needs of end customers looking for solutions for the production of a wide range of advanced components in low volumes.
According to the company, ODRA systems have a unit price more than twice as high as DPS devices. Their characteristics also create potential for repeated orders from individual customers, particularly in the US market and the defence sector.
“In the first quarter of 2026, we took an important step towards stabilising XTPL’s financial position for the next stage of development. The PLN 19.5 million gross raised from the issue of series Y shares, supplemented by NCBR support of approximately PLN 10.1 million granted after the balance sheet date and to be paid in tranches, allow us to run several key commercialisation streams in parallel: further UPD technology implementations with industrial partners in strategic markets, development of ODRA systems ready for first customer deliveries in the fourth quarter of this year, and continued activities aimed at selling DPS systems and HPM materials,” said Jacek Olszański, Management Board Member for Finance at XTPL S.A.
He added that the company is working on projects with longer sales and implementation cycles, whose impact on revenue will become visible as further orders and deliveries materialise. These include talks on the next tranche of UPD modules in China, five advanced evaluation processes with industrial partners, and the commercialisation of ODRA systems and DPS devices.
Since 2025, XTPL has been carrying out the first industrial implementation of its technology for one of the world’s largest display manufacturers from China, a company with annual revenue exceeding USD 20 billion. In the first quarter of 2026, XTPL delivered the final module under the first tranche of that order and is now negotiating the next, larger tranche.
At the same time, the company is developing five advanced evaluation processes and holding talks with defence-sector customers interested in ODRA systems. These activities are intended to support XTPL’s long-term goal of becoming a key provider of technology enabling global manufacturers of advanced electronics to produce next-generation devices in a cost-effective and scalable way.
