ConnectM Technology Solutions, Inc. reported a 54% increase in its annual organic revenue run rate, now at $35 million, compared with $22.7 million for the year ended December 31, 2024. The jump is driven by the Energy Intelligence Network and the rapid expansion of its Keen Labs subsidiary, which focuses on AI, battery systems and distributed energy infrastructure. The company’s organic growth is a clear sign that its core technology and market positioning are gaining traction, even as it continues to integrate new businesses.
The company’s balance sheet has also improved dramatically. After completing the acquisitions of Amperics and Geo Impex, ConnectM’s stockholders’ equity rose to $750 k from a $50 million deficit that followed its July 2024 de‑SPAC transaction. The equity turnaround reflects successful debt reduction, debt‑to‑equity conversions, and the strategic value added by the two acquisitions, which broaden ConnectM’s footprint in electrification and energy storage markets.
ConnectM’s quarterly revenue trend shows a steady acceleration. Q3 2024 revenue was $6.1 million, up 39% year‑over‑year, and the company revised its Q4 2024 guidance to approximately $9 million, a 102% increase over Q4 2023. These figures illustrate that the $35 million run rate is built on a solid, growing pipeline rather than a one‑off spike.
CEO Bhaskar Panigrahi said the results “underscore the strength of our turnaround and position ConnectM as a differentiated small‑cap story at the intersection of energy, infrastructure and AI.” He added that the positive equity and revenue momentum give the company a stronger foundation to pursue an uplisting to a national exchange, which has been a key objective since the Nasdaq delisting in May 2025.
The acquisitions of Amperics and Geo Impex are strategic moves to deepen ConnectM’s capabilities in AI‑driven energy analytics and battery technology. While the deal terms were not disclosed, the integration is expected to accelerate product development and expand the company’s customer base in the growing electrification sector. The combined effect of these acquisitions, along with the Keen Labs expansion, is a more diversified revenue mix and a higher growth trajectory for the next fiscal year.
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