ConnectM Technology Solutions, Inc. (CNTM) announced on December 1 2025 that it has hired boutique investment bank ThinkEquity LLC to advise on a potential uplisting to a major U.S. exchange after the company’s May 2025 delisting from Nasdaq. The engagement follows a series of steps that moved the company from the OTC Expert Market to the OTCQB Venture Market, where it has restored current SEC reporting status and begun a turnaround of its balance sheet and revenue growth.
The company’s revenue has surged 60% year‑to‑date, with Q3 2025 revenue of $8.71 million compared to $6 million in Q3 2024. The nine‑month revenue for 2025 reached $26.21 million, up from $16.38 million in the prior year. This growth is driven by strong demand for electrification and energy‑intelligence solutions, particularly through its Keen Labs subsidiary, and by strategic acquisitions such as Amperics and Geo Impex. At the same time, ConnectM has retired over $10 million in debt and liabilities, reducing its long‑term debt load and improving leverage.
Despite these gains, the company remains in a precarious financial position. Management has disclosed substantial doubt about its ability to continue as a going concern due to a working‑capital deficit and negative operating cash flow. CEO Bhaskar Panigrahi emphasized that the company’s turnaround plan—completing the OTCQB transition, cutting debt, and growing revenue—has positioned it for a return to a major exchange, but he cautioned that the uplisting will require meeting stringent listing requirements and demonstrating sustained financial health.
The engagement with ThinkEquity signals management’s confidence that the company can meet the higher listing standards and attract broader investor participation. If successful, the uplisting would enhance liquidity, improve visibility, and provide a platform for future capital raises. However, the ongoing financial headwinds and the need to maintain a positive cash flow trajectory remain critical hurdles that the company must address to secure a successful uplisting.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.