XTPL, according to preliminary estimated data, generated PLN 6.7 million in revenue from the sale of products and services after three quarters of 2024, compared to PLN 9.2 million achieved in the corresponding period of the previous year. The result in the third quarter alone was PLN 1.1 million, with the main contribution coming from the delivery of a Delta Printing System (DPS) prototyping device to a customer. At the same time, the Company received four additional orders for the DPS devices in the last 30 days, one of which has already been delivered to the customer and, along with the others, will positively affect the fourth quarter’s revenue. The clients for three of the four ordered devices are industrial buyers from the North American market. As part of the adopted Strategy aimed at achieving PLN 100 million commercial sales by the end of 2026, XTPL continues its R&D activities and prepares to launch the fourth line of business in 2025, which will contribute to the strategic goal for 2026. The new product will fill the identified market gap between DPS devices and industrial modules and will be intended for small-scale production of HMLV (High Mix Low Volume) character. The product is being created based on confirmed interest from existing and potential XTPL customers, and the first prototypes may reach the customers in 2025.
“Our quarterly results are still largely dependent on the pace of DPS device orders and deliveries in a given period, but this will change once we achieve industrial implementation with our first partner, and we are making progress in this direction quarter by quarter. Currently, four devices with a built-in XTPL industrial module are being tested worldwide by global manufacturers of advanced electronics from key destinations: South Korea, China, USA, and Taiwan. We started the fourth quarter with an enhanced pipeline of three DPS devices ordered at the end of September, and we reported another sale in recent days. It is worth noting that three of these customers are industrial buyers from North America, where we will soon officially open our demonstration-sales center in Boston. By the end of the year, we expect a few more orders, which will significantly increase our revenue during this period and simultaneously build a portfolio of device orders, the delivery of which will be postponed to early 2025,” says Filip Granek, CEO of XTPL S.A.
“In the long term, launching another business line next year, based on a new market segment that we have identified in cooperation with partners during the commercialization of over 30 DPS devices delivered, is of great importance to us. We see a need to deliver to the market a device for small-scale, HMLV-type production for electronics manufacturers and technology corporations, differing from DPS by a higher level of work automation and intended for professional applications. We have been working on the product for several months now, in close dialogue with customers interested in this solution. We expect to deliver the first prototypes to the market already in 2025, and considering the significantly higher unit price and margin than DPS, and the nature of the device for working in larger volume, the commercialization of this line may significantly impact the achievement of our strategic goal of PLN 100 million in sales of products and services by the end of 2026 and enable further sales growth in subsequent years,” adds Filip Granek.
XTPL has published preliminary estimated sales data. In addition to the sales of products and services, the company generates additional revenues from grants that co-finance some projects of R&D nature. The value of the grants obtained after three quarters of 2024 amounted to PLN 1.1 million compared to PLN 1.7 million in the corresponding period of the previous year. In the third quarter of 2024 alone, the value of the grants obtained resulted in PLN 0.7 million compared to PLN 0.3 million in the same period last year. In accordance with the grant accounting principle, only part of the funds will be included in the income statement for the third quarter of 2024, the remaining part will be recorded in the balance sheet as income for future periods. The Company’s cash position as of September 30, 2024, was PLN 4.7 million.
“We are currently concluding the first, very intense stage of implementing our investment process aimed at scaling XTPL’s business to achieve a significant, tenfold increase in commercial sales to PLN 100 million in 2026. Significant resources have supported our key development areas: sales, production capabilities and R&D in recent quarters. The results include significantly higher volumes of devices that we can deliver to the market, which well prepare us for the moment of the first industrial implementation. However, there were many more significant changes within the organization, and some resources have been invested in securing the supply of key components for production, which will be reflected in the next increase in our inventory level reported at the time of publication of official results. The stock at the end of June this year, amounting to PLN 4.7 million, accounted for potential sales of around PLN 10 million, and this value will increase even more in the third quarter, which will soon positively strengthen our cash flow,” says Jacek Olszański, member of the Board for financial affairs of XTPL.
“We reiterate our strategic objectives and plans to implement the next stage of the investment process, which will require securing additional resources. We will soon decide on the form and method of their acquisition,” adds Jacek Olszański.
XTPL’s business model is based on three complementary business lines. They consist of modules for industrial implementation on the production lines of global electronics manufacturers, Delta Printing System (DPS) prototyping devices, and High Performance Materials (HPM, nanotechs). The company has nine projects at least at the second stage of industrial implementation processes of its technology, of which the four most advanced ones include the company’s strategic areas: semiconductors and displays. The company estimates the total potential of these nine industrial projects, assuming their positive validation, at approximately PLN 400 million in average annual revenues. The end customers are global entities responsible for the production of next-generation electronics, including the leading manufacturer of machines for the modern display industry from China, the leading semiconductor manufacturer from Taiwan, one of the world’s largest FPD (Flat Panel Display) display manufacturers from South Korea, and a leading industrial machinery manufacturer from the USA listed on the Nasdaq 100.
Source: https://managerplus.pl/xtpl-z-67-mln-zl-sprzedazy-komercyjnej-po-iii-kwartalach-2024-roku-i-planem-uruchomienia-nowej-linii-biznesowej-w-2025
