• Strong Revenue growth of $7.8 million, an increase of approximately 70.8% compared to the prior corresponding period
• Modular division delivered $6.6 million of revenue, underpinned by new and existing customers
• Positive early feedback received on launch of new High-Performance-Compute (HPC) AI Module

DXN Limited ('DXN' or 'the Company'), a prefabricated modular data centre specialist, is pleased to announce its half year results for the period ending 31 December 2024 ('1HFY25'). The Company demonstrated strong revenue growth in the first half, with a remarkable 70.8% increase to $7.8 million compared to the prior corresponding period (pcp). The substantial growth was due to increased number of projects being executed including Stanmore Coal, Pilbara Minerals, Pilbara Ports, Timor Leste Government, delivery to a global internet company and East Micronesia Cable System (EMCS) projects, which has significantly boosted the Modular segment of the business. The Modular division delivered $6.6 million in revenue for the period, highlighting the strength of DXN's key customer value proposition namely in-house design and engineering capability as well as manufacturing, and underlying potential of the Company's strategic focus on this segment. The Company's Data Centre Operations division delivered $1.3 million in revenue from SDC in Darwin as well as TAS01 in Hobart. Despite the Company's surge in revenue, gross profit for the half decreased to $2.3 million, primarily due to the expiration of the Flow agreements previously announced. DXN launched the new HPC AI Module solution in the period, which received positive early feedback from existing and prospective customers. The product combines cutting-edge technology with scalable design, a complete cooling solution that can be prefabricated and tested prior to shipping and a module with built-in power backup and distribution. During the half, the Company deployed funds from the October 2024 capital raise to reduce the PURE loan by 25%, with a further 25% to be converted to equity in Q3 FY25.

Reaffirm FY25 Revenue guidance of $16.0 million.

The Company remains committed to achieving its full-year revenue targets and is confident that the strategic actions undertaken, coupled with the continued execution of its growth plans, will support the continued momentum of the company. The Company is finalizing the hiring of two new senior sales personnel to commence in March 2025 to drive expansion within the prefabricated modular data centre market.