XTool

xTool
Company type
Private
IndustryLaser engraving and laser cutting equipment; digital fabrication
Founded2021
FounderJasen Wang
HeadquartersNanshan, Shenzhen, Guangdong, China
ProductsLaser engravers; laser cutters; blade cutters; screen printers; DTF printers
RevenueCNY 2.476 billion (2024)
Number of employees
Approx. 750 (2025)
Websitextool.com

xTool is a Chinese brand of desktop laser engraving, laser cutting and digital fabrication equipment. It is associated with Makeblock Co., Ltd., a Shenzhen-based company originally known for educational robotics and STEAM education products.[1][2]

The brand's products include diode laser engravers, enclosed CO2 laser cutters, portable galvo laser engravers, hybrid laser-and-blade cutting machines and related accessories. xTool products are primarily marketed to hobbyists, small businesses, makers and educational users.

In January 2026, an affiliated company, xTool Innovate Limited, filed an application for listing on the Main Board of the Hong Kong Stock Exchange.[3][4]

History

See also: Makeblock

The xTool brand was launched in 2021 as Makeblock expanded from educational robotics into consumer and small-business digital fabrication tools.[3] Early xTool products included desktop diode laser engravers and hybrid cutting machines. The xTool M1, a hybrid laser and blade cutter, was introduced through a Kickstarter campaign in 2021.[5]

The company later expanded its range to include enclosed CO2 laser cutters and portable galvo-based engravers. The xTool P2, an enclosed CO2 laser cutter, received a Red Dot Design Award in 2024.[6]

Expansion (2022–present)

On 1 January 2026, xTool Innovate Limited filed an application proof for a proposed listing on the Main Board of the Hong Kong Stock Exchange.[3] Longbridge, summarizing a Benzinga report, described the company as Tencent-backed and reported that it was seeking a Hong Kong IPO amid weakening sales of its core products.[4]

According to the application proof, the company derived most of its revenue from overseas markets, particularly the United States and Europe.[3] The filing also reported revenue of CNY 2.476 billion in 2024 and CNY 1.777 billion for the first nine months of 2025.[3]

Products

xTool's products are generally grouped by laser type, enclosure design and intended use. Its product lines include open-frame diode engravers, enclosed diode systems, CO2 laser cutters, galvo laser engravers and hybrid cutting machines.[3]

The D series consists of diode laser engravers aimed at entry-level and hobbyist users. The M series combines laser engraving with other fabrication functions, including blade cutting in the M1 and additional craft functions in the M1 Ultra. The F series consists of compact galvo-based laser engravers designed for portable engraving applications. The P series consists of enclosed CO2 laser cutters aimed at larger-format cutting and engraving work.[7]

The company also sells accessories such as rotary attachments, risers, conveyor or passthrough systems and smoke filtration equipment.[8]

Software

xTool machines are controlled through xTool Creative Space, the company's proprietary design and machine-control software.[8] In its review of the xTool F1, PCMag described the software as powerful but noted that the product had a steep learning curve.[8]

Some xTool machines are also compatible with third-party laser-control software such as LightBurn, depending on the model and control protocol.

Business

The company's 2026 Hong Kong listing application proof reported the following financial figures:[3]

Period Revenue Net profit Gross margin
FY 2023 CNY 1.457 billion CNY 111 million 59%
FY 2024 CNY 2.476 billion CNY 149 million 54%
First nine months of 2025 CNY 1.777 billion CNY 83 million 56%

The application proof stated that overseas sales accounted for the majority of revenue, with the United States and Europe as the company's largest markets.[3] Longbridge reported that xTool had a 47% share of the global desktop laser engraver and cutter market by gross merchandise value, citing information from the company's IPO materials.[4]

See also

References

  1. ^ Dale Dougherty (2015-11-04). "Makeblock: A Construction Set for the 21st Century". Make. Retrieved 2026-04-27.
  2. ^ "Jasen Wang — Founder & CEO, Makeblock". Nikkei Forum. 2019. Retrieved 2026-04-27.
  3. ^ a b c d e f g h "xTool Innovate Limited Application Proof" (PDF). HKEXnews. Hong Kong Exchanges and Clearing. 2026-01-01. Retrieved 2026-04-27.
  4. ^ a b c "Tencent-Backed xTool Seeks Hong Kong IPO, Amid Weakening Core Product Sales". Longbridge. 2026-01-05. Retrieved 2026-04-27.
  5. ^ Wu, Jessie (2025-10-11). "Niche innovation goes global - xTool's push in consumer laser-engraving equipment · TechNode". TechNode. Retrieved 2026-05-04.
  6. ^ "xTool P2". Red Dot Design Award. Retrieved 2026-04-27.
  7. ^ James Bricknell (2026-02-06). "Testing the Best Laser Cutters and Engravers Is One of the Best Parts of My Job". CNET. Retrieved 2026-04-27.
  8. ^ a b c Eric Griffith (2024-02-26). "xTool F1 Dual-Laser Engraver Review". PCMag. Retrieved 2026-04-27.

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