The present invention provides an IR-absorbing naphthalocyanine dye of formula (I):whereinM is selected from Si(A1)(A2), Ge(A1)(A2), Ga(A1), Mg, Al(A1), TiO, Ti(A1)(A2), ZrO, Zr(A1)(A2), Vo, V(A1)(A2), Mn, Mn(A1), Fe, Fe(A1), Co, Ni, Cu, Zn, Sn, Sn(A1)(A2), Pb, Pb(A1)(A2), Pd and Pt;A1 and A2 are axial ligands, which may be the same or different, and are selected from —OH, halogen, —OR3, a hydrophilic ligand and / or a ligand suitable for reducing cofacial interactions;R1 and R2 are selected from H or C1-12alkoxy;R3 is selected from C1-12alkyl, C5-12aryl, C5-12arylalkyl or Si(Rx)(Ry)(Rz); andRx, Ry and Rz may be the same or different and are selected from C1-12alkyl, C5-12aryl, C5-12arylalkyl, C1-12 alkoxy, C5-12aryloxy or C5-12arylalkoxy;W is a hydrophilic group;n1 is 0, 1, 2 or 3;n2 is 0, 1, 2 or 3;n3 is 0, 1, 2 or 3;n4 is 0, 1, 2 or 3;provided that at least one of n1, n2, n3 or n4 is greater than 0.Dyes of this type are especially suitable for use in netpage and Hyperlabel systems.