• Revenue for Q2 FY25 increased 58.1% to $4.8 million
• Cash balance of $5.1 million as at 31 December 2024
• Launched new HPC AI Module to meet growing demand for AI infrastructure

DXN Limited, a prefabricated modular data centre specialist, is pleased to provide an update on the operations for the quarter ending 31 December 2024 (Q2 FY25). Key highlights include revenue for the quarter of $4.8 million, an increase of 58.1% from Q1 FY25, and a cash balance of $5.1 million as at 31 December 2024. The company launched a new HPC AI Module in January at the Pacific Telecom Conference to meet customers' growing demand for AI infrastructure. DXN also made advancements in key customer projects, including commencing installation on site at Stanmore Coal and beginning work on the Pilbara Ports project in the factory. The company successfully completed a $6.5 million capital raise, which included a 25% reduction in the PURE Asset Management loan balance and an additional 25% to be settled in Q3 2025. DXN also effectively exited its Sydney Data Centre lease, unlocking significant annual savings. The company remains focused on capturing an increasing share of the $1.1 billion market opportunity across its three target segments in Asia Pacific: Cable Landing Stations, Mining Operations, and Edge Data Centres.

DXN remains on track to achieve its FY25 revenue guidance of $16.0 million.

The company has commenced the third quarter strongly, with a $0.6 million contract with BwebwerikiNET Limited in the Republic of Kiribati, further strengthening its position in the Pacific Islands region. The launch of the new HPC AI Module and the company's flexibility and speed in tailoring solutions to customer needs make it well-positioned to capture significant market share in the coming years.