X2M Connect Limited (ASX:X2M) (‘X2M’ or ‘the Company’) has lodged its Appendix 4E and preliminary financial report for the year ended 30 June 2022 (FY22) together with an investor presentation.
Key Highlights
- Revenues of $10.4 million, up 82% on the prior corresponding period (pcp)
- South Korea demonstrates success in delivering strategy as repeat orders increased penetration into customers’ addressable markets
- Connected devices, a driver of future SaaS revenues, at 30 June 2022 were 245,265, up 99% on pcp
- Enterprise and government customers increased to 46, up 35% on pcp
- Operating costs increased by 40%, due to growth initiatives, China market entry, product maintenance and first-time costs associated with being a listed entity
- X2M has 19 contracts on foot for approximately $11 million in revenues in FY23 and already exceeding the FY22 revenue.
Read more: Appendix 4E and preliminary financial report
Results announcement
Investor presentation
