Slide 1: Xaar 2025 Full Year Results
Xaar 2025 Full Year Results 24th March 2026 John Mills – Chief Executive Officer Paul James – Chief Financial Officer
Slide 2: Highlights
Highlights Financial Asian hub: discipline: Commercial manufacture, Group revenue Printhead margin breakthrough in supply & +12% like for like revenue +22% improvement and 3D jewellery wax technology stock turn partnership increase Full Year Results 2025 2
Slide 3: Business Fundamentals
Business Fundamentals Drives value through technical innovation Robust technical differentiation − Unique piezo drop-on-demand architecture − Delivers wider operating window − Increased uptime in industrial environments Based on clear intellectual property − 147 patents − Printhead manufacturing kno
Slide 4: Business Fundamentals
Business Fundamentals Manage route-to-market steps and builds revenue streams Route to market can be complex − Multi-step qualification − Often requires applications development − Difficult to predict timing of new business projects But complexity breeds competitive advantage − Switching costs high
Slide 5: Financial Summary
Financial Summary Group Revenue Printhead Revenue Megnajet Revenue EPS Revenue £60.1m £43.0m £2.6m £14.5 12% 22% 2% (10%) Adjusted Profit Before Tax Adjusted Earnings Per Share Net Cash Free Cash Flow £0.8m 1.1p £4.9m (£0.1m) 179% 57% (40%) (102%) Full Year Results 2025 5
Slide 6: Divisional Performance
Divisional Performance Printhead Megnajet EPS Continuing growth momentum Turnaround progressing, operational Scaling pipeline and OEM engagement improvements underway 2025 2024 Var 2025 2024 Var 2025 2024 Var £m £m % ** £m £m % ** £m £m % ** Revenue 43.0 35.2 22 Revenue 2.6 2.5 2 Revenue 14.5 16.1 (
Slide 7: Adjusted Income Statement
Adjusted Income Statement 2025 2024 Var £m £m % ** Revenue 60.1 53.8 12 Gross Margin % 40 37 3pps Total OPEX 22.5 20.2 11 aEBITDA 3.5 2.2 56 aPBT 0.8 (1.0) 179 aEPS 1.1p 0.7p 57 Adjusted Free Cash Flow (0.1) 4.6 (102) ** Percentages are calculated based on unrounded figures to ensure consistency wit
Slide 8: Cash Flow
Cash Flow 2025 2024 Var £m £m % ** aPBT 0.8 (1.0) 179 Movement in Working Capital 0.6 4.6 (87) Add back non-cash items (e.g. depreciation) 3.1 3.2 (3) Adjusted Cash Generated from OPs 4.5 6.8 (34) Capex (PPE and Intangibles) (2.9) (1.0) (188) Lease payments (1.6) (1.2) (34) Adjusted Free Cashflow (0
Slide 9: Business Model
Business Model Strategy Execution Strategic Purpose: The development of differentiated Develop applications with structural long-term growth inkjet printing businesses for the benefit of all drivers: digital manufacturing and process waste stakeholders reduction Make product development a core busin
Slide 10: Business Development
Business Development Routes to market: − OEMs − User Developer Integrators − Halo partnerships for new applications Four phases of development: 1-5 years; >70% attrition: − Ink development − Machine development − Customer accreditation − Launch Recent significant projects Jewellery Wax EV Battery Co
Slide 11: Full Turnkey Solution
Full Turnkey Solution Reduces development time and adds incremental revenue streams Fluid Electronics Printbar & Printheads Fluids management Support & datapath Print engines systems Full range of Partnerships with Xaar branded Fluid management Turnkey label Full worldwide printheads offering all ma
Slide 12: Build on Legacy into Growing Markets
Build on Legacy into Growing Markets Where technical differentiation offers greatest value Ceramics and Glass C&M and DTS WFG & Labels 3D and Adv Man Packaging and Textiles Mature market Mature market Future growth market High growth market High growth market -6% +9% -28% +111% +85% 2024 2025 2024 2
Slide 13: Summary and Outlook
Summary and Outlook Technical differentiation Operational and turnkey capabilities opportunities ahead for Board confident of Legacy markets gaining traction in margin enhancement further progress stabilising new markets and working capital improvement Full Year Results 2025 13
Slide 14: Q&A
Q&A Full Year Results 2025 14
Slide 15: Thank you
Thank you Xaar Proprietary Information