CNTM ConnectM Technology Solutions Inc

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): February 18, 2025

 

ConnectM Technology Solutions, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware (State or other jurisdiction of  incorporation)

001-41389 (Commission File Number)

87-2898342 (I.R.S. Employer Identification  Number)

 

2 Mount Royal Avenue, Suite 550 Marlborough, Massachusetts (Address of principal executive offices)

01752 (Zip code)

 

617-395-1333
(Registrant’s telephone number, including area code)

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

x	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, par value $0.0001 per share		CNTM		The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

Item 2.02

Results of Operations and Financial Condition.

  

On February 18, 2025, ConnectM Technology Solutions, Inc., a Delaware corporation (the “Company”), issued a press release announcing selected financial results for its EV Solutions and OEM Business segments for the fiscal year ended December 31, 2024. The February 18, 2025 press release is included as exhibit 99.1 hereto.

 

The information furnished pursuant to this Item 2.02 (including Exhibit 99.1 hereto), shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Exchange Act or the Securities Act of 1933, as amended, except as expressly set forth by specific reference in such a filing.

 

Item 7.01

Regulation FD Disclosure.

 

On February 20, 2025, the Company issued a press release announcing preliminary revenue guidance for the first quarter ending March 31, 2025. The February 20, 2025 press release is included as exhibit 99.2 hereto.

 

The information contained in this Item 7.01, including in Exhibit 99.2 attached hereto, is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, except to the extent such other filing specifically incorporates such information by reference.

 

Item 9.01

Exhibits.

 

(d) Exhibits

 

Exhibit Number		Description
99.1		Press Release dated February 18, 2025
99.2		Press Release dated February 20, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

Dated: February 20, 2025

 

CONNECTM TECHNOLOGY SOLUTIONS, INC.
By:	/s/ Bhaskar Panigrahi
Name:	Bhaskar Panigrahi
Title:	Chief Executive Officer

 

 

Exhibit 99.1

 

 

 

ConnectM Announces Explosive Growth in EV Solutions, Driven by OEM Partnerships and Surging Demand

 

~200% year-over-year revenue growth in EV Solutions, fueled by adoption across major automotive OEMs~

 

~9 new OEM partnerships secured in the past 12 months, including VST Tractors, Force Motors, and JBM alongside key legacy partners like Volvo~

 

MARLBOROUGH, Mass., Feb. 18, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. (NASDAQ: CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today announced unprecedented growth across its Transportation and Logistics division in 2024, driven by surging demand for its cutting-edge technology, strategic OEM partnerships, and a rapidly expanding subscription-based network.

 

200% year-over-year revenue growth in EV Solutions, fueled by adoption across major automotive OEMs

 

Financial and Operational Highlights

 

·

Revenue Growth: EV Solutions (a subset of our Transportation and Logistics segment) revenue skyrocketed 200% year-over-year, fueled by adoption across passenger, commercial, and light vehicle OEMs.

 

·

OEM Expansion: Secured 9 new OEM partnerships in the past 12 months, including industry leaders VST Tractors, Force Motors, and JBM, alongside legacy clients Volvo Eicher, Ashok Leyland, and TI Clean Mobility.

 

·

Network Scalability: ConnectM’s Energy Intelligence Network now supports over 25,000 EVs (up 48% YoY), with 2,000-3,000 new vehicles added monthly, driving recurring subscription revenue.

 

·

Breakthrough Innovation: Launched patent-pending Digital Control Unit, integrating Vehicle Control, Instrument Cluster, and Telematics into a single platform. Complemented by Advanced Graphics Visual Unit and Infotainment Solutions for commercial vehicles, enhancing user experience and operational efficiency.

 

·

Sustainability Leadership: Enabled cumulative reductions of 40.8 million pounds of CO2 emissions and 1.3 million gallons of fuel consumption over three years.

 

·

Subscription Momentum: AI-driven network subscriptions grow exponentially with each vehicle added, driving high-margin recurring revenue streams.

 

·

Customer Success: Record satisfaction scores, with clients expanding deployments across multiple vehicle categories post- adoption.

 

Leadership Commentary

 

“2024 marked a watershed moment for ConnectM as our EV business transitioned from early adoption to hyper-growth,” said Bhaskar Panigrahi, CEO and Chairman of ConnectM. “Our technology is now embedded in vehicles spanning many major OEM segments, and as these partners accelerate production, our scalable network positions us to capture recurring revenue at an unprecedented pace. With our proprietary innovations and sustainability impact, ConnectM isn’t just participating in the EV revolution-we’re powering its future.”

 

2025 Outlook

 

The Company anticipates accelerated growth as OEM partners ramp up EV production, further amplifying subscription revenue and network scale. ConnectM’s focus on high-margin software, AI-driven analytics, and cross-segment OEM relationships solidifies its role as a critical enabler of the global EV ecosystem.

 

 

About ConnectM Technology Solutions, Inc.

 

ConnectM is a pioneer in the electrification economy, integrating energy assets with its AI-driven technology platform. Focused on delivering solutions that drive efficiency, affordability, and sustainability, ConnectM serves home, facility, and fleet across three major segments: Building Electrification, Distributed Energy, and Transportation and Logistics. The company’s vertically integrated approach combines technology, service/distribution networks, and strategic partnerships to accelerate the transition to an all-electric energy economy.

 

For more information, please visit: www.connectm.com. Stockholders looking to receive Company updates directly to their inbox should sign up here.

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the “Cautionary Note Regarding Forward-Looking Statements” section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Contact:

 

Investor Relations

Dave Gentry, CEO

RedChip Companies, Inc.

1-407-644-4256

CNTM@redchip.com

  

 

 

Exhibit 99.2 

 

ConnectM Announces Q1 2025 Preliminary Revenue Guidance of $11.3M, Representing a 100% Year-Over-Year Surge

 

~ Q1’25 guidance increases ConnectM’s annual revenue run rate to $45.2M ~

 

~ Exceptional growth fueled by surging demand for ConnectM’s AI-driven electrification platforms and strategic customer expansions ~

 

 

MARLBOROUGH, Mass., Feb 20, 2025 (GLOBE NEWSWIRE) – ConnectM Technology Solutions, Inc. (NASDAQ: CNTM) (“ConnectM” or the “Company”), a technology company focused on the electrification economy, today announced preliminary revenue guidance of $11.3 million for the first quarter of 2025. This represents a 26% increase from the $9 million guidance given for Q4 2024 and a 100% year-over-year surge from Q1 2024 revenue of $5.7 million. The growth underscores ConnectM’s accelerating momentum in scaling its AI-driven technology platforms across its core markets.

 

Strategic Growth Drivers

 

ConnectM attributes this exceptional performance to:

 

1.

Expanded Customer Acquisitions: Increased adoption of its Building Electrification, Distributed Energy, and Transportation & Logistics solutions, fueled by strategic OEM partnerships and subscription-based models.

 

2.

Operational Efficiency: Enhanced supply chain management and cost optimization efforts, enabling rapid deployment of solutions.

 

3.

Proprietary Technology Demand: Surging interest in ConnectM’s AI-powered heat pumps as well as its Automotive Graphics Visual Unit (AGVU) and associated subscription software services, all of which have gained strong market traction.

 

Leadership Commentary

 

Bhaskar Panigrahi, Chairman and CEO of ConnectM, stated: “Our Q1 2025 guidance reflects the relentless execution of our team and the scalability of our electrification platforms in a rapidly evolving market. Achieving 100% year-over-year growth—a milestone that parallels our record-breaking Q4 2024 performance—demonstrates the power of our vertically integrated approach and the trust our customers place in ConnectM. As we enter 2025, we are not only building on this momentum but also positioning the Company for sustained value creation through innovation and strategic partnerships.”

 

 

Looking Ahead

 

ConnectM plans to provide full-year 2025 revenue guidance during its 2024 earnings call. The Company also anticipates updates on its debt-to-equity conversion progress and expansion into adjacent markets, including Advanced Metering Infrastructure, which is projected to contribute an incremental $15 million in revenue by 2027.

 

About ConnectM Technology Solutions, Inc.

 

ConnectM is a pioneer in the electrification economy, integrating energy assets with its AI-driven technology platform. Focused on delivering solutions that drive efficiency, affordability, and sustainability, ConnectM serves home, facility, and fleet across three major segments: Building Electrification, Distributed Energy, and Transportation and Logistics. The company’s vertically integrated approach combines technology, service/distribution networks, and strategic partnerships to accelerate the transition to an all-electric energy economy.

 

For more information, please visit: www.connectm.com. Stockholders looking to receive Company updates directly to their inbox should sign up here.

 

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “continue,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the “Cautionary Note Regarding Forward-Looking Statements” section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

 

Contact:

 

Investor Relations

Dave Gentry, CEO

RedChip Companies, Inc.

1-407-644-4256

CNTM@redchip.com

 

 

v3.25.0.1

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Entity Central Index Key	0001895249
Entity Tax Identification Number	87-2898342
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	2 Mount Royal Avenue
Entity Address, Address Line Two	Suite 550
Entity Address, City or Town	Marlborough
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01752
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Title of 12(b) Security	Common stock, par value $0.0001 per share
Trading Symbol	CNTM
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

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