XTPL S.A. XTPL increased its global project pipeline in H1 2026, building more sales opportunities for subsequent periods
|
Issuer: XTPL S.A.
/ Key word(s): Half Year Results/Interim Report
Press release, Wrocław, Poland – September 28, 2026 XTPL increased its global project pipeline in H1 2026, building more sales opportunities for subsequent periods XTPL (WSE:XTP), a global provider of breakthrough microprinting solutions for the advanced electronics market, generated total revenues of PLN 3.3 million in H1 2026, including PLN 1.5 million from the sale of products and services. During the reporting period, the Company expanded its global project pipeline, completing deliveries of the first batch of UPD modules as part of the deployment in China, and moving to Stage 4 of the project, involving the construction of a prototype machine integrated with the UPD module – for a client from Japan, a new market with potential for industrial deployment. The Company also secured its first order for the ODRA system, a new business line with significantly higher sales potential than DPS devices. In addition, XTPL established a partnership with Manz Asia in Taiwan, strengthening its presence in one of the world’s most important semiconductor ecosystems. At the same time, the Company secured financing for further development by raising PLN 19.5 million gross from a share issuance and approximately PLN 10.1 million in grant funding from the NCBR. Subsequent to the balance sheet date, XTPL received an order for the second tranche of 10 UPD modules from a client in China and a DPS device with a dedicated laser system for a new partner in Japan, confirming the gradual commercialization of projects developed in prior periods. “The first half of 2026 was a period of further strengthening the global character of XTPL’s operations. We develop our technology in Wrocław, but its natural markets are the world’s key advanced electronics hubs; therefore, the progress achieved in China, Japan, and Taiwan is of particular importance to us. Building a position in the global deep-tech industry takes time and patience, as a multi-stage validation process leads from initial testing to a decision to deploy the technology. Importantly, part of the work completed in the first half of the year is already translating, following the end of the reporting period, into further industrial orders, including a second batch totaling 10 UPD modules for one of the largest FPD display manufacturers in China. This demonstrates that we are consistently moving projects in our pipeline toward purchasing decisions and the broader adoption of XTPL’s technology by global clients,” says Filip Granek, CEO of XTPL S.A. In the first half of 2026, XTPL generated PLN 1.5 million in revenue from the sale of products and services and total revenues of PLN 3.3 million, compared with PLN 5.1 million and PLN 6.0 million, respectively, in the corresponding period of the previous year. EBITDA was PLN -7.6 million, while cash and cash equivalents stood at PLN 16.3 million as of the end of June. The results for the reporting period do not yet reflect the full impact of the work carried out under the ongoing industrial projects, which are characterized by long sales and deployment cycles, with their pace largely dependent on validation processes and the schedules of global clients. The most advanced deployment of XTPL technology remains the project being carried out for one of the world’s largest FPD display manufacturers in China. At the beginning of the year, the Company completed delivery of the first batch of six UPD modules, which were integrated into machines operating on the end client’s production lines and validated in an actual factory environment. The project thus confirmed the transition of XTPL technology from laboratory-scale development to industrial application. A subsequent framework order for 10 UPD modules, received after the end of the reporting period, further expands the scale of the deployment and supports a business model based on successive module deliveries and recurring sales of consumables. At the same time, XTPL is developing further industrial projects in the semiconductor sector, including advanced packaging and advanced printed circuit boards, with Japan emerging as one of the most important new markets in the first half of 2026. In June, the Company received its first order for an enhanced UPD module, with a unit value nearly twice that of the modules in the Chinese project. The module will be integrated into a prototype industrial machine and used in yield management processes for advanced HDI and UHDI PCBs and semiconductor substrates. An important element of the solution is the use of copper as the conductive material. Following the end of the first half of the year, XTPL received another separate order from Japan, this time for a Delta Printing System and a laser system for a new industrial partner. The project has progressed to the third stage of the process leading to a potential industrial deployment, in which the client will begin independently validating XTPL’s technology in its own research and development laboratory. Combined with the earlier order for a UPD module, this means that the Company is simultaneously developing two independent projects in the Japanese market, at different stages of development but in a similar area of applications related to yield management and advanced packaging. XTPL’s presence in Asia is also being expanded through strategic partnerships aimed at bringing the Company’s technology closer to local clients and industrial partners. In the first half of the year, XTPL established a partnership with Manz Asia, under which a DPS device was installed at the partner’s center in Taiwan. This enables the Company to demonstrate and test its solutions directly within one of the world’s most important semiconductor ecosystems, increasing access to potential clients and bringing XTPL closer to locally conducted technology evaluation processes. At the same time, the cooperation model with the partner enables the Company to expand its market presence with a lower level of capital commitment than would be required for its own demonstration center, such as the one operating in Boston. Another important area of development in the first half of the year was the commercialization of ODRA systems, which represent XTPL’s fourth business line. The ODRA system was developed for High-Mix, Low-Volume (HMLV) industrial production and fills the gap between DPS systems used primarily for research and development work and UPD modules integrated into larger industrial machines. In March, the Company received its first order for the ODRA system from a Silicon Valley-based client operating in the advanced packaging sector that also collaborates with the defense sector. Work on the first ODRA system is continuing in accordance with the project’s successive milestones; however, the delivery and settlement date agreed with the client has been postponed from the fourth quarter of 2026 to the first quarter of 2027. XTPL will use the additional time to conduct comprehensive final testing prior to shipment, treating the first sale of the new product as an important reference project for future clients. At the same time, the Company is engaged in advanced discussions with other potential clients interested in ODRA systems. Advancing the pipeline of industrial projects and further scaling the new business lines require adequate financing. In the first half of the year, XTPL raised PLN 19.5 million gross through a share issue and entered into an agreement for approximately PLN 10.1 million in funding from the National Centre for Research and Development (NCBR), strengthening its ability to finance industrial projects, develop ODRA systems, and carry out research and development activities. At the same time, the Company continues its efforts to obtain debt financing and attract a strategic investor from Taiwan specializing in deep-tech and the semiconductor sector. “The first-half results are still below the level we aim to achieve as our business scales, but they need to be viewed in the context of our business model. Industrial projects have long sales and deployment cycles, and revenue is recognized as successive orders, deliveries, and stages of cooperation with clients are completed. In the first half of the year, therefore, part of our efforts focused on developing processes whose financial impact will become visible in subsequent periods. At the same time, we significantly strengthened the Company’s financial position by raising funds through a share issue and obtaining funding from NCBR, allowing us to continue pursuing industrial projects, develop ODRA systems, and prepare to scale up our operations. From our perspective, the key priority now is to gradually translate the growing number of advanced projects into further deliveries and revenue, while maintaining an adequate level of funding for further growth,” says Jacek Olszański, CFO of XTPL S.A.
Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group. |
||||||
| Language: | English |
| Company: | XTPL S.A. |
| Legnicka 48E | |
| 54-202 Wroclaw | |
| Poland | |
| Internet: | www.xtpl.com |
| EQS News ID: | 2406566 |
| End of News | EQS News Service |
|
|