Xer Tech's CEO sees last week's listing on Spotlight as a strategically important step in the company's development.The company is developing the hybrid-electric X8 drone for defense and commercial applications.- The listing gives us better access to the capital market and strengthens our balance sheet, which supports our growth plans. The company is debt-free and the transaction added around SEK 60 million in cash before listing costs, which is described as a stable financial foundation going forward.Erik Herlyn also emphasizes that a Swedish listing strengthens the company's position in the Nordics, not least after Sweden's and Finland's NATO accession.- With the X8's long endurance and ability to operate in extreme weather conditions, we appear as a strong and reliable partner in the region, both in defense and in dual-use applications.The listing also increases visibility, which is considered particularly important in dialogue with the public sector and defense customers, where transparency and financial stability carry significant weight.In connection with the reverse acquisition, an order from DelMar Aerospace in North America was announced. The deal was preceded by a three-month rental for testing in Canada, after which the customer chose to purchase the system.- The initial order is strategically important because it strengthens our presence in North America. DelMar has a strong position in the North American UAV ecosystem, which gives us market validation and a platform to receive follow-on orders, says Erik Herlyn.Through the agreement, volumes can increase over time, both in terms of drones, payloads, and software.Today, the public sector accounts for around 70 percent of Xer Tech's active pipeline, primarily in defense. According to Erik Herlyn, the segment is strategically important because the deals often involve larger contract values, long-term framework agreements, and recurring service components.- We are aware that procurement processes can be long and complex. At the same time, we see that the processes need to move faster in the current security situation. Governments cannot have procurements that go on for years when technological development happens in months.The company therefore combines exposure to the public sector with commercial customers, who generally have shorter sales cycles.In Southeast Asia, commercial negotiations are underway with a large power transmission company regarding the X8 platform. The customer is evaluating software solutions to ensure integration with existing systems, which is an important step ahead of a potential scale-up.- Another one of our customers in Southeast Asia, who previously contracted two drones, has provided Xer services to this potential customer. Thus we have an established relationship and a good understanding of their operational requirements, which gives us a good starting point to expand the collaboration, says Erik Herlyn.No exact timeline is given, but the company sees potential for conversion if the remaining steps in the process proceed according to plan.Regulatorily, the X8 has received so-called BVLOS approvals in both Switzerland and Hungary, which means the drone is permitted to operate beyond line of sight. No further regulatory steps are required to commence commercial operations in these markets. Within the EU, such an approval also simplifies the process in other member states.Ahead of 2026, the focus is to convert a number of larger deals rather than build volume through many smaller contracts.- Securing a few strategic contracts would have a clear effect on both revenue and market position. We see the greatest potential in defense, where market momentum is stronger than ever, says Erik Herlyn.At what level do you reach positive cash flow?- With the current cost structure, we estimate that operational cash-flow break-even is reached at an annual revenue level of SEK 70-80 million. With good commercial development, that is not unrealistic during 2026. At the same time, increased investments in technology and market could postpone positive cash flow to accelerate growth.What do the capital needs look like over the next 12-18 months?- After the listing, we have around SEK 60 million in available liquidity before listing costs and remain debt-free. Based on the current burn rate, the capital would last 18-24 months if no new deals or investments are carried out. - At present, we see no need for external capital, adds Erik Herlyn.