Xeros Technology Group (LON: XSG), the AIM-listed cleaning technology developer, saw its shares slump after unaudited interim results revealed that revenue previously expected in the second half of 2026 will now slip into 2027.
Shares fell to 1.111p in early trading, down 17.7% from yesterday’s close of 1.35p, near the bottom of a 52-week range of 1.00p to 3.10p.
Xeros published unaudited interim results for the first half of 2026 today, showing revenue up 67.7% to £0.1m and an adjusted EBITDA loss, a measure of underlying operating losses before non-cash items, flat at £1.6m. The outlook statement disclosed that revenues previously expected in the second half of 2026 are now likely to arrive in the first half of 2027, citing wider appliance-industry headwinds and pressure from lower-cost Asian competition.
Net cash fell to £3.5m at the end of June from £5.5m at the start of the year, and had dropped further to £2.8m by the end of August, though the group remains debt-free. Operationally, Xeros pointed to its XF3 microplastic filter going on sale in Germany through retailer MediaMarkt, and denim-finishing partner Yilmak placing machines across Turkey, Egypt, Pakistan and Bangladesh. It also outlined a new washing-machine project with Chinese manufacturing partners that management estimates could be worth £25m in revenue, though this figure is not contracted.
Chief executive Neil Austin said: “The Group has made good operational progress. Our external microplastic pollution filter (XF3), is now on sale in Germany through MediaMarkt; our denim processing partner, Yilmak, which is the world’s largest denim processing machine manufacturer, has facilitated strategic machine placements across key denim manufacturing hubs; the breakthrough agreement for our Xeros laundry care washing machine with one of the world’s largest washing machine brands continues to progress well.”
With £2.8m in cash at the end of August, Xeros faces a further stretch of cash burn before any of its licensing agreements convert into meaningful revenue.