Used as a precursor in the synthesis of phthalocyanine-based dyes and pigments, this compound is particularly valuable in organic electronics. It serves in the development of organic semiconductors for applications such as organic photovoltaics (OPV), organic light-emitting diodes (OLEDs), and organic field-effect transistors (OFETs). The presence of phenoxazine groups enhances electron-donating properties and improves thermal stability, making it suitable for high-performance optoelectronic devices. Additionally, it is explored in dye-sensitized solar cells and as a sensitizer in photodynamic therapy due to its strong light absorption and tunable electronic structure.