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FY23 PRELIMINARY FINANCIAL REPORT

Revenue up 56% and operating cash burn improved by 62%.

FY23 KPI’s set path to positive cash flows

 

X2M Connect (ASX:X2M) has updated the market with the FY23 preliminary financial report.

 

HIGHLIGHTS

  • Revenues from ordinary activities are up 56% to $16.2 million
  • Total cash burn from operating activities for the year was $2.3 million, an improvement of 62% on the pcp
  • Total connected devices increased to 428,801 up 75% on the pcp
  • 19 new enterprise and government customers were added during the year bringing the total customer base up to 65, an increase of 46% on the pcp
  • X2M is well positioned for FY24 with already contracted revenues of more than $5 million

 

Read the full results presentation: FY23 Preliminary Financial Results Presentation


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