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X2M Connect Advances IoT Pivot with Middle East Deal and AI Launch Amid Revenue Dip
4:34am on Monday 2nd of June, 2025 AEST
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Technology
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X2M Connect Advances IoT Pivot with Middle East Deal and AI Launch Amid Revenue Dip
4:34am on Monday 2nd of June, 2025 AEST
Key Points
Revenue declined 64% to $1.4 million, reflecting exit from low-margin hardware sales
Gross margin improved to 47%, up from 32% year-on-year
Secured 10-year Middle East contract with Dicode Smart Connect Electronics
Won four new South Korean contracts worth approximately A$1.7 million
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X2m Connect (ASX:X2M)
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