Polish microprinting company XTPL (WSE: XTP) reported first-quarter 2026 revenue of PLN 1.6 million (roughly $441,000) as the company expands into the semiconductor and advanced electronics markets, while also launching a new business line aimed at defense and small-scale electronics production.
The Warsaw-listed company said product and service sales accounted for PLN 1.2 million (roughly $331,000) of total revenue during the quarter. The results were driven by deliveries of its Delta Printing System (DPS) and Ultra-Precise Dispensing (UPD) modules, as well as early commercial traction for its newly launched ODRA systems business.
The Warsaw-listed company said product and service sales accounted for PLN 1.2 million (roughly $331,000) of total revenue during the quarter. The results were driven by deliveries of its Delta Printing System (DPS) and Ultra-Precise Dispensing (UPD) modules, as well as early sales tied to a new manufacturing platform.
That new platform, called ODRA, is designed for low-volume industrial production. XTPL secured its first order from a Silicon Valley customer working in semiconductor advanced packaging and cooperating with the defense industry. The company said it expects additional ODRA orders as early as 2026, with deliveries planned for late this year or 2027.
XTPL develops precision printing technology capable of creating conductive structures as small as one micrometer. Its systems target semiconductor manufacturing, advanced displays, printed electronics, biosensors, and other high-tech applications.
Filip Granek, CEO of XTPL. Image courtesy of XTPL.
CEO Filip Granek said the quarter marked an important step in executing the company’s 2026–2028 growth strategy: “The results for the reporting period do not yet fully reflect the potential we have built in recent periods, but the decisions we have taken support the company’s growth in the years ahead.”
Granek said XTPL is working to secure a larger second order from one of China’s biggest display makers after successfully completing the first stage of the project. The company is also testing its technology with several other potential customers.
“The UPD modules we delivered are now operating on an industrial production line, confirming the successful completion of the ‘from lab to fab’ pathway, through which XTPL has established global credibility among the world’s leading advanced electronics manufacturers,” he said.
For XTPL, the project marks a major commercial step. Instead of being tested in a lab environment, the company’s printing modules are now being used inside an active production line at a major display manufacturer in China.
Another UPD module was also delivered to a Nasdaq-100-listed U.S. customer involved in semiconductor production equipment and advanced display technologies. The shipment is part of an ongoing technology evaluation process.
A major focus during the quarter was funding. XTPL raised nearly PLN 30 million ($8.3 million) through a public share offering and support from Poland’s National Centre for Research and Development (NCBR).
According to CFO Jacek Olszański, the capital will help fund several commercialization efforts at the same time, including additional UPD deployments, ODRA development, and continued sales expansion for DPS systems and materials.
XTPL ended the quarter with PLN 2.1 million ($579,000) in cash and reported an EBITDA loss of PLN 3.9 million ($1.1 million). The company said capital raised through its March share offering will appear in second-quarter results.
XTPL goes public on the Warsaw Stock Exchange (WSE). Image courtesy of XTPL.
XTPL now has four commercial product lines: UPD industrial modules, DPS prototyping systems, High Performance Materials, and its newer ODRA platform. Management sees ODRA as a potentially important growth business because the systems are designed for real production environments, not just research labs. XTPL said ODRA systems sell for more than twice the price of DPS units and could lead to repeat orders from customers in defense and semiconductor manufacturing.
The company is also continuing several advanced customer evaluations, including ongoing talks around additional UPD orders in China and new ODRA opportunities tied to the U.S. defense sector.