Xeros Technology (GB:XSG) has released an update.
Xeros Technology Group has reported delays in product launches and legislation clarity, leading to lowered revenue forecasts for FY24 and FY25, but remains optimistic about the medium-term market for its microfibre filtration technology in washing machines. Despite the setbacks, the company is pursuing new licensing agreements with tier 1 global OEMs and expects its Xeros enabled denim finishing machines to generate revenue within the current financial year. Cost control measures are in place, with the company maintaining sufficient cash reserves to reach cashflow break-even in late 2025.
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