Xaar (XAR) Q4 2025 TU earnings summary

Executive summary

• Revenue for the year ended 31 December 2025 is expected to rise 16.6% on a like-for-like basis to £60.3 million.

• Growth driven by newer products and markets, especially jewellery wax, while core ceramics remained stable.

• Printhead revenue increased by 28.9%.

• Adjusted profits for the full year are anticipated to be marginally ahead of expectations.

Financial highlights

• Gross margins improved due to higher volumes and cost control.

• Year-end net cash position is approximately £4.8m, down from £8.2m in 2024, after £3.1m in capital investment.

Outlook and guidance

• Board remains optimistic about future opportunities from new applications beyond core ceramics, despite timing uncertainties.