ConnectM Releases Preliminary Third Quarter 2024 Results & Details Significant Operational Progress
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ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) reported a 36% year-over-year increase in third-quarter revenue to $6.1 million and a 11% increase in nine-month revenue to $17.3 million. The company is on track to achieve over $24 million in revenue for FY2024, a 20% increase year-over-year, and expects to reach operating cash flow breakeven in Q1 2025.
November 19, 2024 | 1:45 pm
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ConnectM Technology Solutions reported strong Q3 2024 results with a 36% YoY revenue increase. The company is on track for a 20% YoY revenue growth for FY2024 and aims for operating cash flow breakeven in Q1 2025.
The significant increase in revenue and positive outlook for FY2024 and beyond suggest a strong performance by ConnectM. The company's progress towards operating cash flow breakeven further supports a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100