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X2M Connect Advances SaaS Pivot Amid Revenue Decline and New Market Moves
4:42pm on Friday 31st of January, 2025 AEDT
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X2M Connect Advances SaaS Pivot Amid Revenue Decline and New Market Moves
4:42pm on Friday 31st of January, 2025 AEDT
Key Points
Revenue fell 51% to $1.7 million due to exit from low-margin hardware sales
Operating costs reduced by 36%, adjusted EBITDA loss improved by 25%
Connected devices grew 5% to 544,910; enterprise/government customers up 10%
New partnerships launched in Middle East and renewable energy sector in Taiwan
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X2M Connect (ASX:X2M)
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