Full Year 2021 Xaar PLC Earnings Call Transcript
Welcome, everybody, to Xaar's 2021 full-year results. My name is John Mills, the CEO of Xaar. And I'm joined today by our CFO, Ian Tichias.
We are delighted to be here today to present the 2021 full-year results. And today, we will tell you about the excellent progress we have made against our strategic plan and to update you on why we remain so excited about the future of Xaar.
But before we start, I want to reflect on the very different position we were in two years ago.
Xaar had been through a period of decline from the peak in 2013. In March 2020, the share price had dropped to 18p, and our market cap was less than GBP20 million, having posted losses of GBP70 million. We had just closed the thin film business. And nearly all our customers had abandoned our core bulk technology in favor of our competitors.
And it was unclear what core value still existed in the company. But what did exist was a great team of people and a world-leading printhead technology. And with these two assets, we were able to refocus the business into markets where
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