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X2M Connect Limited (ASX:X2M)

ALERT: Price-sensitive ASX Announcement for X2M
Current share price for X2M : $0.005 -0.004 (-44.44%)+
Announcement
Release
28 Jan 2026 9:20AM
Price at Release
$0.009
Full Release
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Summary
X2M Connect Limited, an Australian IoT technology company, has reported strong operational and financial performance for the second quarter of FY26. The company achieved a 65% increase in revenues, reaching $2.8 million, and a 63% rise in gross profit to $1.2 million. Net cash from operating activities was $1.7 million, largely due to an R&D rebate and improved operational performance. X2M continued to expand its enterprise and government client base, now totaling 88 customers, and made significant strides in water digitisation projects in South Korea and Japan. The company's financial position included $1.9 million in cash and $0.2 million in net debt at the end of 2025. X2M expects continued revenue growth and improved EBITDA losses in FY26, underscoring its strategic focus on expanding its IoT solutions and market presence, particularly in the APAC region.
Key Points
  • X2M Connect Limited reported a 65% increase in revenues to $2.8 million for 2Q FY26.
  • Gross profit for the quarter rose by 63% to $1.2 million compared to the previous year.
  • Net cash generated from operating activities was $1.7 million.
  • The company’s enterprise and government client base increased to 88 customers, a 10% rise.
  • X2M is expanding its operations in South Korea and Japan, specifically in water digitisation.
  • The company is focusing on enhancing its IoT solutions and expanding its market presence.
  • Total cash at the end of December 2025 was $1.9 million, with net debt standing at $0.2 million.
  • X2M expects continued revenue growth and a substantial improvement in adjusted EBITDA losses for FY26.
  • X2M secured new contracts in South Korea and entered the Japanese water market.
  • The company delivered 30,000 HelpMe public safety devices to the city of Seoul.
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.