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X2M Connect Limited
(Sydney:X2M)
X2M Connect Limited (X2M) vs. iShares MSCI Australia ETF (EWA)
X2M Connect Limited Business Overview & Revenue Model
X2M Connect Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.69M | 6.47M | 13.38M | 16.21M | 10.39M | 5.70M |
| Gross Profit | -949.04K | -933.48K | -1.05M | 3.80M | 2.31M | -6.31M |
| EBITDA | -9.37M | -4.24M | -4.45M | -5.26M | -9.54M | -7.52M |
| Net Income | -12.97M | -12.11M | -6.51M | -6.51M | -10.24M | -8.26M |
Balance Sheet | ||||||
| Total Assets | 5.06M | 5.06M | 13.52M | 14.18M | 8.17M | 6.94M |
| Cash, Cash Equivalents and Short-Term Investments | 1.62M | 1.62M | 1.94M | 1.79M | 1.02M | 1.95M |
| Total Debt | 6.57M | 6.57M | 3.49M | 2.49M | 1.14M | 2.78M |
| Total Liabilities | 13.04M | 13.04M | 12.98M | 13.77M | 6.62M | 6.75M |
| Stockholders Equity | -7.98M | -7.98M | 544.90K | 405.25K | 1.56M | 185.22K |
Cash Flow | ||||||
| Free Cash Flow | -2.89M | -2.79M | -2.42M | -5.03M | -7.91M | -4.02M |
| Operating Cash Flow | -2.89M | -2.79M | -2.38M | -2.33M | -6.21M | -3.24M |
| Investing Cash Flow | -2.16M | -2.16M | -3.33M | -2.91M | -1.81M | -648.64K |
| Financing Cash Flow | 4.78M | 4.78M | 5.89M | 5.97M | 7.21M | 5.54M |
X2M Connect Limited Technical Analysis
X2M Connect Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
46 Neutral | AU$48.72M | -5.67 | ― | ― | 12.77% | 53.47% | |
41 Neutral | AU$10.13M | -0.32 | ― | ― | -51.64% | -21.74% | |
40 Underperform | AU$3.27M | -0.90 | ― | ― | -4.86% | 64.36% | |
39 Underperform | AU$20.47M | -0.57 | -134.92% | ― | -35.77% | -8.93% | |
37 Underperform | AU$7.51M | ― | -110.55% | ― | -51.28% | 8.00% | |
37 Underperform | AU$5.29M | -0.76 | -283.40% | ― | -74.76% | 42.11% |
X2M Connect Limited Corporate Events
X2M Connect Limited announced that all resolutions at its Annual General Meeting were passed, reflecting strong shareholder support for the company’s strategic initiatives. This outcome is likely to bolster X2M’s position in the utilities sector, as it continues to expand its IoT platform and explore new markets, enhancing its growth prospects and stakeholder confidence.
X2M Connect Limited has strategically refocused its operations to enhance profitability and expand its market presence, exiting unprofitable ventures and reducing operating costs. The company has launched new products and expanded into the Middle East, strengthening its position in the IoT sector. With significant contract wins and a healthier balance sheet, X2M is poised to capitalize on the growing demand for real-time data and AI-driven solutions. The company is expanding its offerings in key markets like South Korea, Japan, Taiwan, and the UAE, aiming to drive growth and deliver value to its stakeholders.
X2M Connect Limited has secured new contracts worth over A$0.5 million for water digitization in South Korea, covering remote metering for over 4,500 households. The contracts include a new customer, the city of Cheongju, and repeat orders from other municipalities, indicating strong market penetration and growth potential. These contracts will significantly boost X2M’s revenue for the fiscal year 2026, surpassing last year’s total revenue, and demonstrate the company’s growing momentum in the South Korean market.
X2M Connect Limited’s 1Q FY26 update highlights its transition from hardware to software and platform-based revenue models, reflecting a strategic shift in response to market demands. The company’s business model now emphasizes recurring fees for software services and platform maintenance, indicating a focus on sustainable revenue streams and long-term growth.
X2M Connect Limited reported a strong start to the 2026 financial year, with a 25% increase in revenue to $2.1 million and a 10% rise in gross profit. The company has secured significant contracts, including a public safety project in Seoul and a partnership in the UAE, which are expected to drive future growth. The company’s financial position has improved with reduced net debt and a successful capital raise, positioning it well for continued expansion in key markets.
X2M Connect Limited has announced that its Annual General Meeting (AGM) will be held virtually on November 25, 2025, allowing more shareholders to participate. The meeting will include online voting and a Q&A facility, with resolutions determined by a poll. Shareholders are encouraged to submit proxy forms in advance to ensure their votes are counted, addressing potential connectivity issues.
X2M Connect Limited has announced its Annual General Meeting to be held via video conference on November 25, 2025. The meeting will cover several key resolutions including the adoption of the remuneration report, the retirement and re-election of director The Hon Alan Stockdale AO, and the approval of an additional 10% placement capacity. These resolutions aim to align with corporate governance practices and provide the company with flexibility in capital management. Shareholders will have the opportunity to discuss and vote on these matters, which could impact the company’s strategic direction and shareholder value.
X2M Connect Limited has announced the application for quotation of 3,547,500 ordinary fully paid securities on the Australian Securities Exchange (ASX). These securities are issued for advisory services, marking a strategic move to enhance the company’s financial flexibility and potentially broaden its market engagement.
X2M Connect Limited has issued fully paid ordinary shares and/or options without disclosure to investors under specific sections of the Corporations Act. The company confirms compliance with relevant provisions and states there is no excluded information as per the Act. This announcement reflects X2M’s ongoing efforts to enhance its financial operations, potentially impacting its market positioning and stakeholder interests.
X2M Connect Limited announced the cessation of several securities, including convertible notes and options, due to either cancellation by agreement or the lapse of conditional rights. This development may impact the company’s capital structure and could reflect strategic adjustments in its financial operations.
X2M Connect Limited has announced the quotation of 630,000 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective from October 8, 2025. This move is part of the company’s strategy to enhance its market presence and provide liquidity to its shareholders, potentially impacting its market positioning positively.
X2M Connect Limited has issued fully paid ordinary shares and/or options as part of its ongoing operations, without requiring disclosure to investors under specific parts of the Corporations Act. This move indicates the company’s compliance with regulatory requirements and supports its strategic focus on expanding its IoT platform and services in the utilities sector, particularly in the Asia-Pacific region and the Middle East. The issuance of securities is a step towards strengthening its market position and enhancing its service offerings to a growing customer base.
X2M Connect Limited has released its corporate governance statement for the financial year ending June 30, 2025, which has been approved by the board and is available in their annual report. The statement outlines the company’s adherence to the ASX Corporate Governance Council’s principles and recommendations, including the roles and responsibilities of the board and management, checks before appointing directors, and the accountability of the company secretary.
X2M Connect Limited reported a successful year in 2025, marked by strategic decisions to exit unprofitable operations and expand its geographical presence. These initiatives are anticipated to strengthen the company’s position for the upcoming year, potentially benefiting stakeholders and enhancing its market standing.
X2M Connect Limited has secured a significant contract with the City of Seoul for water digitisation, valued at approximately A$0.8 million. This contract involves the installation of remote water meter monitoring for 6,750 households, with completion expected by November 2025. The project is part of Seoul’s broader initiative to digitise all water meters by 2040, representing a potential A$240 million market. This achievement underscores X2M’s growing influence in the smart city ecosystem and its strategic expansion in the Asia-Pacific region, highlighting strong demand for its IoT capabilities.
X2M Connect Limited has announced a change in the director’s interest notice concerning Damien Johnston. The announcement details that the EMP options held by the director have lapsed, resulting in a change in the number of securities held by the director. This update is significant for stakeholders as it reflects changes in the director’s financial interests within the company.