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X2M Connect Limited ( (AU:X2M) ) has provided an announcement.
X2M Connect has launched a two-tranche equity placement to raise about $3 million from institutional and sophisticated investors, with $1.52 million already secured and the balance subject to shareholder approval. The capital will fund entry into the Japanese water market, expansion in Australia, platform upgrades and working capital, while also enabling repayment of around $1.8 million in convertible loans and reducing total debt to roughly $602,000 in notes maturing in 2028.
The raise follows a strong first half of FY26 in which X2M delivered 45% revenue growth and 35% gross profit growth year on year, with second-quarter revenue and gross profit up 65% and 63% respectively. With about $4 million of contracted revenue expected to be recognised in the second half of FY26, management signals continued growth driven by municipal water digitisation projects in South Korea, new Japanese water contracts and ongoing metropolitan deployments, supporting the goal of materially narrowing adjusted EBITDA losses versus FY25.
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 an Australian Internet of Things technology company that provides patent-backed, AI-powered platforms to connect water, gas, electricity and other critical sensors to the internet for utility and government customers. Its core platform supports the Vision by X2M, Hive.AI by X2M and Help Me safety device product families, serving more than 85 customers across Japan, South Korea, Taiwan, the Middle East and Australia through a mix of hardware sales, recurring SaaS and device connection fees.
Average Trading Volume: 761,709
Technical Sentiment Signal: Sell
Current Market Cap: A$7.09M
For an in-depth examination of X2M stock, go to TipRanks’ Overview page.