Shares in Xeros Technology Group PLC (AIM:XSG) fell 20% to 1.08p on Tuesday after the company told investors that key revenue was being pushed back by roughly six months, overshadowing a set of interim results that otherwise showed sales growing.
The AIM-listed firm, which makes technology aimed at reducing the environmental impact of clothing, reported revenue of £100,000 for the six months to 30 June, up 67.7% on the same period last year.
But the market focus was on Xeros' warning that wider problems across the appliance industry, including cheaper manufacturers squeezing US and European equipment makers, had delayed some of its commercial programmes.
As a result, revenue previously expected in the second half of this year is now likely to land in the first half of 2027 instead.
Investors also digested the cash outflow. Net cash outflow rose 31.3% to £2.1 million, driven by working capital linked to 2025, while losses at the adjusted earnings level held steady at £1.6 million.
Net cash stood at £3.5 million at the end of June, an improvement on the £1.2 million held a year earlier, but that cushion had already thinned to £2.8 million by the end of August.
Chief executive Neil Austin pointed to operational progress despite the setback, including the German retail launch of the company's microplastic filter and continued growth in its denim finishing partnerships.
