Xtek Ltd Company Profile

High growth potential via the commercialisation of revolutionary defence technologies.

Xtek is pursuing the commercialisation of its revolutionary carbon fibre composite technology, XTClave, for the global body armour market.

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    Xtek Ltd
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    Aerospace & Defense
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    Aerospace & Defense
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Company Overview

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Xtek Limited is a defence company that provides a variety of products and services including drone re-sales and maintenance, X-ray equipment, forensics, sniper rifles, and other defence products. Xtek are also commercialising two technologies called XTclave and XTAtlas.

XTclave is a carbon fibre composite technology which can produce components that are both light and strong. Potential products include Small Arms Protective Inserts (SAPI’s), or body armour, helmet shells and other components for potential space applications. The first commercial XTclave facility was established in Adelaide on the 18th February 2020.

XTAtlas is a piece of drone software that allows the streaming of geospatially accurate data in real time back to drone operators.

Xtek have also acquired a company called HighCom Armour Solutions (HighCom) in the U.S. The acquisition of HighCom is expected to serve as a launch pad for the commercialisation of XTclave into the lucrative U.S. market.

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Revenue Growth & Margin Growth

XTEK are continuing to pursue revenue accretive opportunities through the continued supply and maintenance of AE Aerovironment Wasps, while also pursuing margin expanding opportunities via the commercialisation of its wholly owned proprietary technologies.

XTEK have finalised the construction of their first XTclave machine and have plans to establish an additional machine in the US.


XTEK has a profitable underlying defence business that helps to underpin the commercialisation of high margin proprietary products.


Xtek have acquired U.S. based firm HighCom Armour Solutions, which will serve as a launch pad for the commercialisation of its XTclave technology

A Holistic Soldier Solutions Company

Xtek provide a suite of high value and complimentary front line solutions for defence, law enforcement and governments globally. Western defence spending is expected to hit $1.8 trillion.

Revenue Momentum

Xtek have a track record of successfully building revenues year on year, while also consistently producing positive EBITDA and net profit. Unaudited FY20 Revenues are in excess of A$42m and an improvement in gross margins is also expected due to an increase in proprietary products.

Latest Presentation

Click here to read the company's latest presentation

XTclave Commercialisation

The construction of a commercial grade XTclave machine in Adelaide was completed on the 18th February 2020. One XTclave machine at full production could produce up to A$40m in revenue p.a. after recent optimisations were made in July 2020. XTEK expects to open a new XTclave facility in the US in the medium term which supports the company's goal of creating a A$100m turnover business.

XTAtlas Technology

XTAtlas is a new first responder capability that provides the UAV operator with situational awareness by projecting the live video feed from a UAV onto any georeferenced imagery such as satellite maps. XTAtlas also provides the rapid production of fresh georeferenced maps, unlike traditional photogrammertry methods which can take hours to generate. XTAtlas has already received its first international sales.

Video Library

Click here to watch a video of XTAtlas in action

HighCom Acquisition

Xtek acquired U.S. based HighCom Armour Solutions on a 2.6x EV/EBITDA Multiple (excluding a potential earn-out payment). By retaining the key personell within the business, this acquisition will serve as a launchpad for the commercialisation of XTclave into the lucrative U.S. body armour market.

Other Products and Relationships

Clock icon Information current at 06 July 2020
This section contains information provided by Xtek Ltd, with the exception of any sections labeled as "risks". Although all due care has been taken, Mawson Graham ("SmallCapInsider") does not warrant the accuracy of the information provided in this section. It is not intended as an offer, invitation solicitation or recommendation with respect to the purchase or sale of any securities. The above information should not be relied upon as the sole representation of any matter that a potential investor should consider in evaluating Xtek Ltd. Its affiliates or any of its directors, agents, officers or employees do not make any representation or warranty, express or implied, as to or endorsement of, the accuracy or completeness of any information, statements, representations or forecasts contained above, and they do not accept any liability for any statement made in, or omitted from, the above. Prospective investors should make their own independent evaluation of an investment in Xtek Ltd. This information may contain forward looking statements concerning Xtek Ltd. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward looking statements as a result of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company’s actual results to differ materially from those expressed or implied in any forward-looking information provided by Xtek Ltd, or on behalf of Xtek Ltd. Forward looking statements are based on Xtek Ltd's beliefs, opinions and estimates. No obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments.

Company Videos

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Analyst Commentary

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XTClave progressing toward commercialisation & complimentary HighCom acquisition

Written by SmallCapInsider
Published Jul 17, 2019

XTClave and XTAtlas both have large global addressable markets which gives the company blue sky potential upon becoming successfully commercialised. Each XTClave machine is expected to cost between US$2-3m and could be producing up to US$20m in revenues per machine per year when at full production. There are already about 15 potential customers that are in the sales pipeline of XTClave that are going through various stages of testing.

XTAtlas is a unique piece of drone software that is made possible by rolling together 3 pieces of technology. It has also already received its first international sales. Like all software, its important to start receiving sales because that proves that there is real market demand for the problem its solving.

XTEK have been generating some significant revenues driven primarily by the supply and maintenance of drones to the ADF. The drones that XTEK supplies are called AE Aerovironment WASPS. XTEK have the only repair facility for AE Aerivornment WASPS outside of the U.S. Because of that they are likely to continue maintaining these drones, which in turn could mean more contracted revenue in the future.

The acquisition of HighCom was highly complimentary and also came at an attractive price of being a 2.6x EV/EBITDA multiple. HighCom can also serve as a launchpad of the commercialisation of XTClave into the lucrative U.S. body armour market.

Key risks include, but are not limited to, the risk that XTClave is not able to be commercialised to its full potential, and the possibility that Xtek are unable to maintain its profitability in future years ahead as it has done for the previous 3 financial years.

The information within this section has been provided by Mawson Graham and is for general information purposes only and is not intended to reflect any recommendations or financial advice. The information in this section has been prepared without taking into account your objectives, financial situation or needs. For this reason, you should consider the appropriateness of the advice or recommendation in light of your own personal circumstances, relevant risk factors, the nature and extent of your risk of loss, as well as the legal and accounting consequences before acting making an investment or trading decision regarding any Financial Product mentioned herein. While it is believed that all information sourced and contained within this section to be accurate at the time of publication, liability for any errors, omissions, accuracy or completeness of the information (except any statutory liability which cannot be excluded) is specifically excluded by Mawson Graham, its associates, officers, directors, employees and agents. Past performance is not a reliable indicator of future performance. Important Disclosure: Mawson Graham, its directors, associates and employees advise that they may hold securities, may have an interest in and/or earn brokerage, investor relations fees, corporate fees, and other benefits or advantages, either directly or indirectly from client transactions arising from any information mentioned within this section and in documents published within this section.
Mawson Graham
Mawson Graham

News Coverage

Current news mentioning Xtek Ltd from top publishers around the web.
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Key Announcements

Management comments and explanations on key company announcements.
XTEK (ASX:XTE) signs MOU with Space Tech Company MECANO ID
Friday 21/05/2021
XTEK (ASX:XTE) Appoints Defence Veteran of 35 Years as Non-Executive Director
Wednesday 05/05/2021
XTEK (ASX:XTE) Signs Exclusive Distribution Agreement with Rapid Biosecurity Screening Company KeyOptions Pty Ltd
Tuesday 30/03/2021
XTEK (ASX:XTE) Announces Operational Updates in Their Latest Investor Presentation
Tuesday 23/03/2021
XTEK (ASX:XTE) Announce Their Half-Yearly Activities and Cashflow Report
Monday 01/03/2021
Xtek's share price strong on AGM update
Monday 30/11/2020
XTEK appoints former Minister for Defence Christopher Pyne to board
Monday 30/11/2020
XTclave delivery complete under first tranche of the Finnish Defence Force contract
Tuesday 24/11/2020
XTEK September Quarter Business Update
Monday 12/10/2020
XTEK completes first international delivery of XTclave plates
Tuesday 06/10/2020
Xtek 2020 Preliminary Final Report
Monday 31/08/2020
XTEK Limited Share Purchase Plan Opens After Successfully Raising A$9.2m
Thursday 13/08/2020
Additional ADF SUAS Purchase Order
Thursday 09/07/2020
XTEK Provides FY20 Revenue Guidance Underpinned By Strong Performance
Monday 06/07/2020
Skykraft in conjunction with XTEK awarded Australian Space Agency Grant
Monday 22/06/2020
Loan Facility Secured to Mass Produce Ballistic Helmets
Tuesday 16/06/2020
International Order for XTclave Plates Upsized
Friday 05/06/2020
XTEK’s First International Commercial Order For XTclave™ Plates
Tuesday 05/05/2020
XTEK March 2020 Quarter Update
Wednesday 22/04/2020
XTEK Receives SICP Grant
Thursday 16/04/2020
XTEK receives first commercial XTclave™ Order
Thursday 19/03/2020
XTEK receives purchase order for SUAS spare parts
Wednesday 11/03/2020
XTEK Ltd (ASX:XTE) report record half yearly revenue in 1H FY2020 results
Friday 28/02/2020
XTEK to launch three new products at SHOT Show, the largest trade show of its kind in the world
Wednesday 22/01/2020
2019 Review - Multiple Key Milestones Achieved
Tuesday 17/12/2019
HighCom Armour Solutions Acquisition
Wednesday 02/10/2019
Exclusive ADF support contract secured
Friday 27/09/2019
Need a full list of every announcement? Visit ASX

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