X2M Connect Limited ( (AU:X2M) ) just unveiled an announcement.
X2M Connect Limited has secured four new contracts in South Korea, valued at approximately A$1.7 million, for water digitization across 13,625 households in Ulsan, Busan, Incheon, and Gyeongju. These contracts increase X2M’s total enterprise and government customers to 82 and expand its addressable market in South Korea to a potential A$580 million in upfront revenues. The deployments are expected to be completed by December 2025, with revenues recognized over the same period. This expansion reflects X2M’s strategic focus on the utility sector and its growth in the Asia-Pacific region.
More about X2M Connect Limited
X2M Connect Limited is an Australian technology company specializing in Internet of Things (IoT) solutions for the utilities sector. The company focuses on providing productivity improvements, cost savings, and enhanced public safety through data collection, analytics, and device control. X2M Connect’s technology connects utility devices like water, gas, and electricity meters to the internet, enabling remote control and data exchange. The company generates revenue through hardware sales and Software as a Service (SaaS) subscriptions. X2M operates primarily in the Asia-Pacific region and is expanding globally, with subsidiaries in Japan, South Korea, Taiwan, China, and a new licensing agreement in the Middle East.
YTD Price Performance: -40.0%
Average Trading Volume: 193,780
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$6.81M
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