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X2M Connect Limited (ASX:X2M)

ALERT: Price-sensitive ASX Announcement for X2M
Current share price for X2M : $0.003 -0.001 (-16.67%)+
Announcement
Release
31 Jul 2026 4:27PM
Price at Release
$0.003
Full Release
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Summary
X2M Connect Limited reported steady financial improvements in Q4 FY26, with revenue and gross profit increasing by 1% compared to the prior year. Operating expenses were significantly reduced by 24%, and the EBITDA loss improved by 41%. The company increased its customer base to 91 enterprise and government clients, reflecting a 12% increase. Notably, X2M reduced its net cash burn from operating activities by 70% to $1 million, ending the quarter with $1.3 million in cash. The company is pursuing strategic initiatives, including data centre development and market expansion in Japan and Australia, with a focus on achieving profitability and positive cash flow.
Key Points
  • X2M Connect Limited reported Q4 revenue of $1.7 million, a 1% increase from the previous year.
  • The company's gross profit for the quarter was $0.8 million.
  • Operating expenses decreased by 24% to $1.7 million.
  • The EBITDA loss was $0.7 million, showing a 41% improvement.
  • X2M increased its enterprise and government customers to 91, a 12% rise.
  • Net cash burn from operating activities was reduced by 70% to $1 million.
  • Total cash at the end of June 2026 was $1.3 million.
  • X2M is focusing on data centre and AI strategies, signing a five-year partnership for data centre development.
  • The company is expanding into the Japanese water market and the Australian market.
  • X2M's priority remains achieving profitability and positive operating cash flow.
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.