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CAMBRIDGE, UK - Xaar plc, a provider of inkjet printing technology, announced Wednesday it has identified previously unknown tax liabilities in an overseas jurisdiction that could total between £3 million and £4 million.
The company said in a trading update that the tax issues are historical and not expected to impact future trading. Xaar stated it is "well capitalised" to meet these tax payments, which are expected to be settled over the next two years.
Despite this disclosure, Xaar confirmed that its overall trading continues in line with plans, and the board’s expectations for the year ending December 31, 2025, remain unchanged.
The company, which specializes in technology for jetting highly viscous liquids, reported that its financial performance will be driven by the maturation of recent product launches and timing of new ones. Xaar noted it has received new orders from a major customer for a desktop 3D printer launch, which it described as "a new segment opportunity."
Ben Stocks, who joined Xaar as Chairman and Independent Non-Executive Director on Wednesday, commented on the tax situation: "Although disappointing, the tax liability does not change my optimism for a business full of opportunity."
The company also announced it will release its full-year results for 2025 around March 24, 2026.
This article is based on a press release statement from Xaar plc.
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