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ConnectM Delivers on Turnaround Plan: Back to OTCQB and Aiming for National Exchange Uplisting
Globenewswireยท 2025-12-01 13:45
Core Insights - ConnectM Technology Solutions, Inc. has successfully transitioned from the Expert Market to OTCQB, restored its SEC reporting status, and is experiencing revenue growth while developing its Keen Labs platform in the battery and energy storage sectors [1][2][5]. Group 1: Company Progress - The company has executed its plan post-Nasdaq delisting, focusing on current SEC filings, uplisting to OTCQB, revenue growth, and debt reduction [2][4]. - Management has reported double-digit year-over-year revenue growth in each quarter since the Nasdaq delisting, achieving approximately 60% year-to-date revenue growth through Q3 2025 [5][6]. - ConnectM has retired over $10 million in debt and derivative liabilities in 2025, moving from a stockholders' deficit of approximately $50 million to an estimated positive stockholders' equity of around $0.75 million [8]. Group 2: Strategic Developments - The company launched Keen Labs, focusing on AI, industrial IoT, battery systems, and distributed energy platforms, and has made strategic acquisitions to enhance its technology offerings [8][9]. - Acquisitions include Amperics for hybrid battery technology, Geo Impex for an AI-driven data center site, and Air Temp Service Co. and Cambridge Energy Resources Ltd. to expand HVAC services [8]. - A joint venture, StarConnectM LLP, was formed with Star Engineers in India to develop AI-powered connected vehicle platforms [8]. Group 3: Future Outlook - Near- and medium-term priorities include scaling revenue and margins, continuing to reduce liabilities, integrating recent acquisitions, and pursuing targeted M&A in electrification and AI-driven energy infrastructure [9]. - The company is working with ThinkEquity LLC to refine its capital markets strategy and prepare for a potential uplisting to a major U.S. exchange [9].