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X2M CONNECT CONCLUDES A STRONG FIRST HALF OF FY23

Up 96% on the previous corresponding period

HIGHLIGHTS

  • 1H23 revenues of $9.0 million1 , up 96% on the previous corresponding period (pcp)
  • X2M reported its first ever quarter with positive cash flows from operating activities
  • Connected devices at 31 December 2022 were 361,345, up 100% on the pcp
  • Enterprise/government customers increased to 58, up 38% on the pcp
  • During the first six months of FY23, X2M has added 13 new customers and other contract wins in South Korea with a combined value of approximately $6.1 million
  • X2M’s strategy to “land and expand” is working as market and customer penetration continue to grow

 

Australian Internet of Things (IoT) technology company X2M Connect Limited (ASX:X2M) (“X2M” or “the Company”) is pleased to provide a trading update following a strong first half of FY23.

You can find the full shareholder update at: Shareholder Update H1 FY23


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