XTPL Sees Increased Orders Following Q1 2024 Investments

XTPL (WSE:XTP) reported revenues of PLN 2.9 million in Q1 2024, driven by the sale of four Delta Printing System devices. This period also saw significant investment activity aimed at scaling up the business in line with the 2023–2026 Strategy.

The company expanded its workforce to 91 employees by the end of March and increased production capacity across its business lines. As a result, XTPL aims for a substantial rise in sales during the second half of the year, traditionally its best season. The company is also enhancing its presence in the US market, preparing to open a Demo Center in Boston.

Despite increased costs and expenses, primarily due to intensified investments and higher recruitment rates, XTPL is well-positioned for future growth. EBITDA for Q1 2024 was PLN -5.1 million. The cash position stood at PLN 19.4 million, signaling robust investments in sales, production, and R&D.

XTPL's CEO, Filip Granek, highlighted the company's ongoing efforts to implement its technology on industrial lines of global electronics manufacturers. CFO Jacek Olszański pointed out the company's strategic focus on industrial implementation projects, particularly in semiconductors and displays, with a potential revenue impact of PLN 400 million annually, pending successful project validation.