Connected IO Ltd. (AU:CML)
ASX:CML
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Connected IO
(Sydney:CML)
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Rating:45Neutral
Price Target:
AU$0.26
▲(43.33% Upside)
Action:ReiteratedDate:03/24/26
The score is held down primarily by weak financial performance—ongoing losses, zero recent revenue, and worsening cash burn—despite a low-debt, positive-equity balance sheet. Technicals are mixed but lean weak in the near term (below 20D/50D and slightly negative MACD). Valuation is difficult to assess given the negative P/E and no dividend yield data.
Positive Factors
Recurring revenue streams
The company's mix of hardware sales plus recurring software licensing, connectivity subscriptions and device management creates durable revenue diversification. Recurring fees support predictable cash inflows and customer lock-in, improving long-term revenue resilience versus one‑time hardware sales.
Negative Factors
Effectively zero revenue
A multi-year absence of recorded revenue is a fundamental red flag for product-market fit and commercial traction. Without sustainable top-line growth, the company cannot leverage fixed costs, build margins, or demonstrate scalable demand, risking long-term viability absent a clear revenue plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring revenue streams
The company's mix of hardware sales plus recurring software licensing, connectivity subscriptions and device management creates durable revenue diversification. Recurring fees support predictable cash inflows and customer lock-in, improving long-term revenue resilience versus one‑time hardware sales.
Read all positive factors
Connected IO (CML) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$15.45M
Dividend YieldN/A
Average Volume (3M)66.86K
Price to Earnings (P/E)―
Beta (1Y)1.26
Revenue GrowthN/A
EPS GrowthN/A
CountryAU
Employees1
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
Shares Outstanding58,283,210
10 Day Avg. Volume66,011
30 Day Avg. Volume66,856
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.75
Price to Sales (P/S)0.00
P/FCF Ratio-3.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Connected IO Business Overview & Revenue Model
Company Description
Connected Minerals Limited operates as an exploration and resources development company in Namibia and Western Australia. The company explores for uranium, lead, copper, gold, silver, heavy mineral sands, and rare earth elements. Its projects incl...
How the Company Makes Money
Connected IO (CML) generates revenue primarily through the sale of its wireless communication hardware products and software services. The company earns income by providing its devices to businesses that require reliable IoT and M2M communication ...
Connected IO Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
24
Negative
| Breakdown | Jun 2024 | Jun 2024 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 902.64K | 1.20M |
| Gross Profit | -8.70K | 0.00 | 0.00 | 157.44K | -871.15K |
| EBITDA | -2.27M | -453.60K | -446.00K | -971.00K | -5.45M |
| Net Income | -2.23M | -417.68K | -456.00K | -984.00K | -5.69M |
Balance Sheet | |||||
| Total Assets | 7.37M | 1.26M | 1.72M | 2.38M | 8.48M |
| Cash, Cash Equivalents and Short-Term Investments | 924.83K | 1.24M | 1.71M | 2.30M | 1.55M |
| Total Debt | 0.00 | 0.00 | 96.46K | 222.64K | 1.91M |
| Total Liabilities | 110.87K | 88.85K | 136.03K | 338.22K | 159.18K |
| Stockholders Equity | 7.26M | 1.17M | 1.59M | 2.04M | 8.32M |
Cash Flow | |||||
| Free Cash Flow | -1.77M | -467.31K | -373.02K | -3.27M | -1.25M |
| Operating Cash Flow | -1.74M | -467.31K | -373.02K | -3.26M | -374.78K |
| Investing Cash Flow | -2.96M | 0.00 | 0.00 | -3.34K | -1.48M |
| Financing Cash Flow | 4.39M | 0.00 | -222.64K | 2.41M | 767.63K |
Connected IO Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
45 Neutral | AU$15.45M | -1.48 | -34.02% | ― | ― | ― | |
45 Neutral | AU$11.17M | -7.05 | -7.48% | ― | ― | 12.20% | |
44 Neutral | AU$11.42M | -0.98 | -89.04% | ― | 20.87% | 76.67% | |
44 Neutral | AU$12.35M | -4.17 | 99.38% | ― | ― | 93.44% | |
43 Neutral | AU$9.12M | -1.19 | -10.09% | ― | ― | 34.89% | |
42 Neutral | AU$10.98M | -4.82 | -19.33% | ― | ― | ― |
* Basic Materials Sector Average
AU:CML
Connected IO
0.27
0.15
120.83%
AU:1MC
Morella Corporation
0.03
<0.01
40.00%
AU:MGT
Magnetite Mines Limited
0.03
-0.08
-72.81%
AU:TON
Triton Minerals Limited
0.01
>-0.01
-9.09%
AU:GED
Golden Deeps Limited
0.05
0.03
188.24%
AU:RWD
Reward Minerals Limited
0.05
-0.02
-26.23%
Connected IO Corporate Events
Connected Minerals Seeks Quotation for 3.18m New ASX Shares
Mar 19, 2026
Connected Minerals Limited has applied for quotation on the ASX of 3,183,462 ordinary fully paid shares under code CML, with an issue date of March 19, 2026. The move reflects an expansion of its listed capital base, potentially increasing liquidi...
Connected Minerals Seeks ASX Quotation for 5.8 Million New Shares
Mar 19, 2026
Connected Minerals Limited has applied for quotation of 5,808,625 ordinary fully paid shares on the ASX, with an issue date of March 19, 2026. The new quotation of these securities increases the company’s tradable share base and may enhance ...
Connected Minerals Issues New Tranche of Unquoted Employee Options
Mar 12, 2026
Connected Minerals Limited has issued 250,000 unquoted employee options under its incentive scheme, with an exercise price of $0.30 and an expiry date of March 12, 2029. The new options, which will not be quoted on the ASX, are designed to reward ...
Connected Minerals Issues Interim Half-Year Financial Report
Mar 12, 2026
Connected Minerals Limited has released its interim financial report for the half-year ended 31 December 2025, providing condensed consolidated financial statements and accompanying notes. The report includes directors’ declarations and an i...
Connected Minerals Reports Strong Phase 2 Uranium Drill Results at Etango North-East
Jan 30, 2026
Connected Minerals has completed a Phase 2 reverse circulation drilling program at its Etango North-East Uranium Project in Namibia, drilling 23 holes for 3,134 metres at the Ondapanda prospect and returning economic uranium grades in 17 holes, in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
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