X2M Connect Lifts Revenue 45% as Loss Narrows on Improved Operations

An announcement from X2M Connect Limited ( (AU:X2M) ) is now available.

X2M Connect reported a 45% jump in half-year revenue to $4.9 million, driven by a stronger South Korean market, increased market share, initial deliveries of Seoul HelpMe devices and first water digitisation revenue in Japan. Despite this growth, the company remained loss-making, with a statutory after-tax loss of $3.3 million and a $1.2 million non-cash impairment tied to a lower forecast base.

Gross profit rose 35% to $2.1 million and operating expenditure increased 12% to $3.6 million, partly due to $0.25 million in product replacement costs on historical deployments. Adjusted EBITDA loss improved 10% to $1.2 million, cash from operations turned positive at $0.1 million versus prior cash burn, net debt was $0.2 million and enterprise and government customers grew 10% to 88, highlighting gradual operational leverage despite a negative net tangible asset position.

The most recent analyst rating on (AU:X2M) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on X2M Connect Limited stock, see the AU:X2M Stock Forecast page.

More about X2M Connect Limited

X2M Connect Limited is a technology company focused on smart utility and public infrastructure solutions, including water digitisation and connected safety devices. The business targets enterprise and government customers across Asian markets such as South Korea and Japan, where it is building market share through IoT-enabled platforms and devices.

Average Trading Volume: 796,153

Technical Sentiment Signal: Sell

Current Market Cap: A$7.09M

For detailed information about X2M stock, go to TipRanks’ Stock Analysis page.