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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 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 13.38M | 16.21M | 10.39M | 5.70M | 2.25M |
| Gross Profit | 296.08K | 3.80M | 2.31M | -6.31M | -890.43K |
| EBITDA | -4.45M | -5.26M | -9.54M | -8.01M | -1.90M |
| Net Income | -6.51M | -6.51M | -10.24M | -8.26M | -2.38M |
Balance Sheet | |||||
| Total Assets | 13.52M | 14.18M | 8.17M | 6.94M | 5.49M |
| Cash, Cash Equivalents and Short-Term Investments | 1.94M | 1.79M | 1.02M | 1.95M | 302.09K |
| Total Debt | 3.49M | 2.49M | 1.14M | 2.65M | 4.66M |
| Total Liabilities | 12.98M | 13.77M | 6.62M | 6.75M | 6.86M |
| Stockholders Equity | 544.90K | 405.25K | 1.56M | 185.22K | -1.36M |
Cash Flow | |||||
| Free Cash Flow | -2.42M | -5.03M | -7.91M | -4.02M | -1.55M |
| Operating Cash Flow | -2.38M | -2.33M | -6.21M | -3.24M | -1.55M |
| Investing Cash Flow | -3.33M | -2.91M | -1.81M | -648.64K | -5.29M |
| Financing Cash Flow | 5.89M | 5.97M | 7.21M | 5.54M | 7.36M |
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 |
|---|---|---|---|---|---|---|---|
51 Neutral | AU$1.67B | 2.26 | -31.66% | 3.53% | 16.55% | -7.79% | |
48 Neutral | AU$4.09M | ― | -637.73% | ― | -13.05% | -184.09% | |
47 Neutral | AU$8.21M | ― | ― | -0.45% | 47.27% | ||
42 Neutral | AU$9.14M | ― | -1370.92% | ― | -36.98% | 41.43% | |
41 Neutral | AU$7.96M | ― | -70.87% | ― | -61.54% | 11.54% | |
41 Neutral | AU$4.90M | ― | -174.80% | ― | -50.78% | 45.67% | |
39 Underperform | AU$8.59M | ― | -44.65% | ― | -42.73% | -6050.00% |
X2M Connect Limited Corporate Events
X2M Connect Limited has announced the dispatch of its prospectus related to an Entitlement Offer, marking a significant step in its strategic financial initiatives. This move is expected to support the company’s ongoing expansion efforts, particularly in the Asia-Pacific region and new markets like the Middle East, enhancing its market positioning and stakeholder engagement.
X2M Connect Limited is holding a General Meeting on 19 August 2025 via a live video conference, allowing shareholders to participate online. The meeting will focus on approving the issuance of securities beyond the company’s current capacity under ASX Listing Rule 7.1, with voting facilitated through a poll conducted by the company’s share registry.
X2M Connect Limited announced the cessation of 7,058,462 securities due to the expiry of options or other convertible securities without exercise or conversion as of July 15, 2025. This development may impact the company’s capital structure and could influence investor perceptions and market positioning, as it reflects a change in the company’s issued capital.
X2M Connect Limited has announced the cessation of certain securities due to the expiry of options that were not exercised or converted. Specifically, 2,140,719 options expiring on July 15, 2025, and 1,499,994 options expiring on October 31, 2024, have ceased. This announcement reflects the company’s ongoing management of its issued capital and may impact stakeholders by potentially altering the company’s capital structure.
X2M Connect Limited has announced a proposed issue of securities, detailing plans to issue 200 million ordinary fully paid shares and 236 million call options with expiration dates in December 2024 and 2025. This move is part of a strategic effort to raise capital, potentially impacting the company’s market position and offering new opportunities for stakeholders.
X2M Connect Limited has announced a proposed issue of securities, involving 174,022,737 call options and ordinary fully paid shares, with an expiration date of December 31, 2027. This move is part of a standard pro rata issue, reflecting the company’s strategy to raise capital and potentially strengthen its market position, impacting stakeholders by offering new investment opportunities.
X2M Connect Limited has announced a pro-rata non-renounceable entitlement offer to raise approximately $2,262,000. Eligible shareholders can subscribe for 2 new shares for every 5 shares held at an issue price of $0.013 per share, along with 1 new option for every share subscribed. The offer aims to strengthen the company’s financial position and potentially enhance its market presence. Shareholders are encouraged to access the prospectus and related documents online, as no hard copies will be distributed.
X2M Connect Limited has announced a non-renounceable entitlement issue, offering 2 shares for every 5 shares held by eligible shareholders at a price of $0.013 per share. This initiative aims to raise approximately $2.26 million and includes the issuance of 1 new option for every share subscribed. The offer is part of the company’s strategic financial maneuvering to potentially strengthen its capital base and enhance shareholder value, though it is noted that the securities are considered highly speculative.
X2M Connect Limited has announced a capital raising initiative through a Placement and Entitlement Offer to raise up to $4.9 million, which will significantly strengthen its balance sheet and reduce company debt. This financial move, supported by investor confidence, positions X2M for accelerated growth and expansion in existing and new markets, with recent contract wins exceeding $5.5 million providing momentum for the upcoming financial year.
X2M Connect Limited has requested a trading halt on its securities pending an announcement regarding a capital raising. This move indicates a strategic financial maneuver to potentially enhance its operations and market positioning, particularly in the utilities sector where it already has a strong presence. The trading halt is expected to last until the announcement is made or normal trading resumes on July 15, 2025.
X2M Connect Limited has announced its upcoming General Meeting, scheduled for 31 July 2025, which will be conducted via a live video conference. Shareholders are encouraged to participate by watching, listening, and voting online, with the option to submit questions in advance. Voting will be facilitated through the Automic Investor Portal, and shareholders are advised to lodge proxy forms at least 48 hours before the meeting.
X2M Connect Limited has announced a General Meeting to be held via video conference on July 31, 2025, where shareholders will vote on the ratification and approval of the issuance of securities. The resolutions aim to reset the company’s placement capacity under ASX Listing Rules 7.1 and 7.1A and seek shareholder approval for issuing securities beyond these capacities. This move is significant for the company’s operational flexibility and may impact its market strategy and stakeholder interests.
X2M Connect Limited’s strategic partner, Dicode Smart Connect Electronics, has secured a significant contract in the UAE to install smart meters in 10,000 apartments, marking its second major contract in the region this year. X2M is investing in Dicode, taking a 7% equity stake, and Dicode will exclusively use X2M’s technology for a decade, positioning X2M as a key player in the Middle East’s smart infrastructure sector.
X2M Connect Limited has issued fully paid ordinary shares and options without disclosure to investors, in compliance with the Corporations Act. This move is part of their strategy to enhance their market presence and operational capabilities in the utilities sector, particularly in the Asia-Pacific region, while also expanding into the Middle East.
X2M Connect Limited has announced the quotation of 46,875,000 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of June 26, 2025. This move is part of previously announced transactions and is expected to impact the company’s market presence and stakeholder interests positively.
X2M Connect Limited has secured new contracts in South Korea valued at approximately $1 million for remote water metering, adding to a total of over $5.5 million in contracts for the fourth quarter of FY25. This marks a significant improvement in the Korean market, with municipalities resuming digitization of water systems. The new contracts expand X2M’s customer base to 84, increasing their addressable market by 113,000 households. The company’s CEO highlighted the strong momentum and growth potential as X2M enters FY26 with a solid foundation.
X2M Connect Limited has secured a $3 million contract with the City of Seoul to supply 100,000 IoT-connected personal safety devices as part of Seoul’s 2025 Smart City public safety initiative. This project, which integrates with Seoul’s existing smart city infrastructure, aims to enhance urban safety, particularly for women and vulnerable citizens, and is backed by a new South Korean security mandate. The initiative has the potential to expand to 1 million devices, providing significant growth opportunities for X2M in municipal and national government markets. The project not only strengthens X2M’s position in South Korea but also opens avenues for similar solutions in the Australian market and beyond, aligning with urban environments’ digital transformation agendas.
X2M Connect Limited has announced a proposed issue of securities, including 131,675,000 call options at $0.016 and 131,675,000 piggyback options expiring on 31 July 2027, along with 75,456,000 ordinary fully paid shares. The issuance is set for 8 August 2025 and is part of a placement or other type of issue, with the company seeking quotation on the ASX. This move could potentially enhance X2M Connect Limited’s financial flexibility and market presence.
X2M Connect Limited has announced a capital raise of $1.95 million through a share placement, with $0.9 million in new equity funding primarily from Singapore and Hong Kong investors. This move, along with the conversion of $1.05 million of debt to equity by existing note holders, aims to strengthen the company’s balance sheet. The funds will support business expansion, product enhancements, and working capital, as X2M accelerates its expansion into AI and data aggregation. The capital raise reflects investor confidence in X2M’s long-term vision and strategic positioning in the growing IoT and utilities market.
X2M Connect Limited has requested a trading halt on its securities pending an announcement regarding a capital raising. This move is part of the company’s strategic efforts to strengthen its financial position and support its ongoing operations in the utilities sector. The trading halt is expected to end with the announcement or the resumption of normal trading on 18 June 2025. This development could have significant implications for X2M’s market positioning and stakeholder interests, as it seeks to capitalize on growing demand in the IoT and utility markets.
X2M Connect Limited has announced a significant change in the interests of its substantial holder, Andrew C Greig. As of April 29, 2025, Greig’s voting power in the company has increased from 8.34% to 11.27%, following several transactions including rights issues and placements over the past few years. This increase in voting power could potentially impact the company’s governance and strategic decisions, reflecting Greig’s growing influence within the company.
X2M Connect Limited announced the issuance of fully paid ordinary shares and/or options without disclosure to investors under specific parts of the Corporations Act. The company has complied with relevant provisions of the Corporations Act and confirmed no excluded information exists as of the announcement date. This move is part of X2M’s ongoing strategy to enhance its market presence and operational capabilities in the utilities sector, potentially impacting its stakeholders by reinforcing its financial position and supporting its expansion plans.
X2M Connect Limited has announced the issuance of 9,840,587 ordinary fully paid securities as part of a payment for services and placement, with the issue date set for April 29, 2025. This move is expected to enhance the company’s financial flexibility and potentially strengthen its market position by leveraging the newly issued securities.
X2M Connect Limited reported a challenging third quarter with a 64% drop in revenue due to a soft market in South Korea and a strategic exit from low-margin hardware sales. Despite this, the company improved its gross margin to 47% and reduced operating costs by 9%. X2M secured significant new contracts in South Korea and the Middle East, including a 10-year deal in the UAE, and launched ‘Hive.AI by X2M,’ an AI-driven platform for renewable energy management. These developments are expected to enhance X2M’s recurring revenue streams and strengthen its market position.