Preliminary Fi Report and Annual Report to shareholders

Key points

• Revenue from continuing operations increased by 38% to $8,943,467
• Loss after tax from continuing operations decreased by 58% to $(5,118,725)
• Adjusted EBITDA loss improved by 24% to $(2,716,631)
• No dividends were paid, recommended, or declared
• Strong growth in South Korea with new product launches and deployments

Full summary

X2M Connect Ltd's FY26 Annual Report highlights a 38% increase in revenues to $8.9M, with a significant reduction in the loss after tax from continuing operations down to $5.1M. The company's strategic shift towards SaaS and smart communities, alongside the elimination of low-margin hardware, has resulted in a 24% improvement in Adjusted EBITDA loss to $2.7M. X2M Connect Ltd also expanded its customer base, with a 12% increase in enterprise and government customers to 91. The company launched new products in South Korea, including 100,000 HelpMe public safety devices, and secured initial sales for its integrated smart water meter, expected to begin generating revenue in FY27. X2M Connect Ltd is also venturing into the data centre market, with the first deal secured on 27 August 2026.

Guidance

Revenues from continuing operations up 38% to $8,943,467

Outlook

X2M Connect Ltd anticipates significant growth in FY27, driven by the expansion of its data centre business and the adoption of its new smart water meter in South Korea. The company expects to see further improvements in Adjusted EBITDA and a reduction in net losses.