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X2M Connect Limited (ASX:X2M)

ALERT: Price-sensitive ASX Announcement for X2M
Current share price for X2M : $0.003 -0.004 (-57.14%)+
Announcement
Release
9 Feb 2026 9:13AM
Price at Release
$0.007
Full Release
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Summary
X2M Connect Limited announced its unaudited financial results for the first half of FY2026, highlighting significant growth and strategic advances. The company reported a 45% increase in total revenues to $4.9 million compared to the previous corresponding period, driven by growth in core utility markets and higher contributions from software and maintenance services. The adjusted EBITDA loss improved by 10% to $1.2 million, reflecting better financial outcomes as revenue and gross margin growth outpaced rises in operating costs. X2M has expanded its customer base to 88 enterprise and government clients and secured approximately $4 million in contracted revenue expected to be recognized in FY2026, bolstering future visibility. Notable achievements include the signing of multiple municipal water digitization contracts in South Korea, the deployment of the HelpMe public safety device, and entry into Japan's water digitization market through a partnership with Azbil Kimmon.
Key Points
  • 45% increase in total revenues to $4.9 million for 1H FY2026
  • Gross profit increased by 35% to $2.1 million
  • Adjusted EBITDA loss improved by 10% to $1.2 million
  • Customer base expanded to 88 enterprise and government clients
  • Secured $4 million in contracted revenue for FY2026
  • Significant contracts in South Korea and entry into Japanese market
  • Deployment of HelpMe public safety device
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.