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X2M Connect Limited ( (AU:X2M) ) has issued an update.
X2M Connect Limited has executed its first commercial contract in the Middle East with Dicode Smart Connect Electronics, leveraging its ‘Vision by X2M’ platform for gas operations in the UAE. This 10-year, high-margin software licensing agreement is expected to generate significant revenue, with X2M projecting A$0.4 million EBITDA per annum for every 100,000 smart devices installed. The contract signals a strategic entry into the Middle Eastern market, where there is a considerable opportunity for utility digitization, particularly in the gas sector. The initiative aligns with the UAE’s governmental mandate to transition to piped gas, offering a significant market for X2M’s IoT platform.
More about X2M Connect Limited
X2M Connect Limited (ASX:X2M) is an Australian technology company specializing in Internet of Things (IoT) solutions. The company focuses on providing productivity improvements, cost savings, and enhanced public safety to enterprise and government clients within the utilities sector. X2M aims to leverage the growing demand for data collection, analytics, and device control in the artificial intelligence, renewable energy generation, and battery storage markets.
YTD Price Performance: -33.33%
Average Trading Volume: 178,221
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$7.57M
Learn more about X2M stock on TipRanks’ Stock Analysis page.
