EQS-News: XTPL increases its commercial revenues by over 50% after 9M of 2025 and delivers the strongest Q3 in its history

Press release, 25th November, 2025

XTPL increases its commercial revenues by over 50% after 9M of 2025 and delivers the strongest Q3 in its history

In the first three quarters of 2025, XTPL (WSE: XTP) generated PLN 10.3 million in revenues from the sale of product and service, up 54% year-on-year. Nearly half of this result came from the record-breaking third quarter, in which commercial revenues reached PLN 5.1 million, up 405% year-on-year – more than a fivefold increase. The robust quarterly performance was mainly driven by the delivery of six DPS (Delta Printing System) devices and four UPD (Ultra-Precise Dispensing) modules to clients. The growing number of projects at an advanced stage, the ongoing development of the DPS+ business line and new opportunities in the defense sector all contribute to a positive outlook for 2026, a year in which XTPL expects to generate revenues significantly exceeding those of 2025.

“We achieved the best third quarter in XTPL’s history in terms of revenues from the sale of products and services, which amounted to PLN 5.1 million. This result, supported by the typically strong fourth quarter, allows us to expect that the full-year 2025 performance will exceed that recorded in 2024. Progress in evaluated projects aimed at further industrial implementations, their increasing number and the imminent start of commercialization of the new DPS+ business line support a positive outlook for XTP for the year 2026, in which we anticipate achieving revenues significantly higher than this year” says Filip Granek, CEO of XTPL S.A

“We will enter 2026 as a significantly stronger organization – technologically, operationally and above all, commercially: with the first industrial implementation achieved, a record number of projects in the pipeline at an advanced stage and new promising areas of development – including the defense sector, where we see a strong interest from major defense groups in using our technology. Through our presence at international conferences and on-site meetings with potential clients, we are seeing that demand for the printing precision offered by XTPL – namely the ability to deposit conductive materials with accuracy down to 1 micrometer – is only just beginning to emerge on a broader scale. We are well positioned to capitalize on this momentum” Filip Granek adds.

XTPL is commercialising three business lines: UPD modules (printheads) for industrial implementation on the production lines of global manufacturers of electronics, the Delta Printing System (DPS, technology demonstrator) prototyping devices and High Performance Materials (HPM, nanoinks used by UPD and DPS).

During the first three quarters of 2025, XTPL generated PLN 11.5 million in total revenues, including PLN 10.3 million in revenues from the sale of products and services, compared to PLN 7.3 million and PLN 6.7 million, respectively, in the same period last year. In the third quarter alone, total revenues amounted to PLN 5.5 million, including PLN 5.1 million in commercial sales, which increased by 405%, more than fivefold year-on-year. EBITDA for the third quarter was PLN -1.4 million and the cash position at the end of September 30, 2025 amounted to PLN 10.0 million.

“We are continuing four parallel processes to secure financing for 2026, during which we have identified a capital gap of approximately PLN 15–20 million. These include: securing debt financing from institutions or banks, obtaining grants from domestic and international programs, the potential entry of a strategic investor with a minority stake, as well as a capital increase and a share issue directed at the market. The most likely scenario is a combination of at least two of these options, although they will not be implemented simultaneously. Maintained cost discipline and the high level of trade receivables on the balance sheet, totaling PLN 5.0 million – much of which has already been collected and will support cash flow in the fourth quarter – allow us to extend the timeline for making final financing decisions to the first quarter of 2026” says Jacek Olszanski, CFO of XTPL S.A.

“In XTPL’s first-ever industrial implementation, we are approaching the delivery of the final unit from the initial batch of six devices to our direct partner in China, which means we will soon begin discussions regarding the next tranche of UPD modules and the delivery schedule for 2026. This implementation is crucial for us – it not only confirms the demand for XTPL technology, but also positively impacts further projects and opportunities for industrial implementations, which we expect in the coming years, supported by the recent expansion of the project pipeline to as many as five advanced projects. Diversification of the segments for which our technology is intended, along with geographic diversification – from China, Taiwan and South Korea to the US and Europe – enables us to minimize the risks associated with the adoption of this technology in the global market for advanced, next-generation electronics” Jacek Olszanski adds.

On January 3, 2025, XTPL began the first-ever industrial implementation of its proprietary UPD technology. By the reporting date, five UPD modules from the initial batch of six had been delivered to the direct partner, a leading Chinese manufacturer of machines for the mass production of advanced FPDs. Industrial devices equipped with an XTPL module are used to repair defects in ultra-high-resolution FPDs, significantly reducing the number of rejects on the production line of the end client – one of the world’s largest display manufacturers in China. The project implementation may take a few years maximum, and include orders for several tens of the Company’s UPD modules in total.

The Company currently has five advanced projects in the final stages of evaluation prior to industrial implementation, covering areas of strategic importance for XTPL – semiconductors and displays. The Company’s end clients or partners are global entities responsible for the production of next generation electronics, including a leading semiconductor manufacturer from Taiwan, one of the world’s largest producers of displays from South Korea and a reputable manufacturer of industrial machines from the United States, listed on the Nasdaq 100 index.