Latest X2M CONNECT (ASX:X2M) News

One microcap exploded higher on a tiny capital raise, while several software names were sold hard despite reporting growth. The week split cleanly between “cash in the bank” stories and “still burning cash” worries.

X2M Connect Limited has secured a $3 million capital raise to fund expansion into new markets and reduce debt, following a robust first half of FY26 marked by significant revenue and profit growth.

Big moves came from disclosure drama, CEO change news, and one standout software upgrade. While several stocks jumped on results, a few gaps couldn’t hold as traders sold into early strength.

X2M Connect Limited reported a robust first half of FY26 with a 45% revenue increase and significant contract wins in Asia, positioning the company for sustained growth.

A handful of small caps ripped higher, but plenty still slipped even after good news. This week’s biggest moves came from a platform partnership win, a reinstated stock, and a cash settlement that removed a long-running dispute.

X2M Connect Limited reported a robust second quarter for FY26, with revenues climbing 65% and a notable narrowing of EBITDA losses, driven by strategic expansions in South Korea, Japan, and beyond.

X2M Connect has secured a software development contract with Azbil Kimmon to digitise Japan’s vast water meter infrastructure, marking a strategic expansion beyond its existing gas monitoring services.

X2M Connect has secured over half a million Australian dollars in new and repeat water digitisation contracts in South Korea, driving strong early revenue growth in FY26. These deals expand the company’s footprint across thousands of households and highlight growing government adoption of IoT solutions.

X2M Connect Limited kicks off FY26 with a 25% revenue surge and a significant reduction in net debt, backed by major new contracts across Asia and the Middle East.

X2M Connect has secured a significant contract to digitise water meters for 6,750 Seoul households, marking a key step in the city's ambitious A$240 million smart metering initiative.

X2M Connect reports a 43% revenue decline in FY25 but improves gross margins and expands into the Middle East and renewable energy sectors, setting a positive outlook for FY26.

X2M Connect Limited reported a $12.1 million loss for FY25, driven by a 43% revenue drop amid a softer South Korean market and the strategic exit from China. Despite cost cuts and improved margins, the company’s adjusted EBITDA loss widened, prompting a $5.4 million capital raise to shore up its balance sheet.