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An announcement from X2M Connect Limited ( (AU:X2M) ) is now available.
X2M Connect delivered strong third-quarter growth, with revenue rising 67% to $2.3 million and gross profit up 41%, while operating expenses increased just 2%, narrowing its EBITDA loss and underscoring operating leverage. The company continues to shift away from low-margin hardware toward SaaS and smart community solutions, supported by a growing enterprise and government customer base.
Operationally, X2M is scaling deployments in South Korea, advancing smart utility projects in the Middle East, and entering the Japanese water market, while launching smart energy and community initiatives in Australia. Despite elevated quarterly cash burn and modest cash on hand, recent capital raising, an expected R&D rebate and planned debt reduction aim to bolster the balance sheet and support expansion across key smart city and utility markets.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company focused on data aggregation platforms for utilities, smart communities and next-generation infrastructure. Its core offerings span smart gas and water metering, energy management and public safety solutions, with a growing presence in South Korea, the Middle East and emerging initiatives in Australia and Japan.
Average Trading Volume: 150,000
Technical Sentiment Signal: Sell
Current Market Cap: A$5.76M
Learn more about X2M stock on TipRanks’ Stock Analysis page.