~ Currently operating at a $45M revenue run rate ~
~ On Track to Achieve Operating Cash Flow
Breakeven in Q1 2025 ~
MARLBOROUGH, Mass., Feb. 27,
2025 /PRNewswire/ -- ConnectM Technology Solutions,
Inc. (Nasdaq: CNTM) ("ConnectM" or the "Company"), a high-growth
technology company on the leading edge of the electrification
economy, today announced that the Company has retired an additional
$1.9 million debt. Since going public
on July 15, 2025, ConnectM has
eliminated $31 million in
liabilities, bringing total outstanding debt to less than
$10 million.
Outlook
The Company expects to be debt free and in a positive
stockholder equity position by Q2 2025.
About ConnectM Technology Solutions, Inc.
ConnectM is a technology company focused on advancing the
electrification economy by integrating electrified energy assets
with its AI-powered technology solutions platform. The Company
provides residential and light commercial buildings and
all-electric original equipment manufacturers with a proprietary
Energy Intelligence Network platform to accelerate the transition
to all-electric heating, cooling, and transportation. Leveraging
technology, data, artificial intelligence, contemporary design, and
behavioral economics, ConnectM aims to make electrification more
user-friendly, affordable, precise, and socially impactful. As a
vertically integrated company with wholly owned service networks
and a comprehensive technology stack, ConnectM empowers customers
to reduce their reliance on fossil fuels, lower overall energy
costs, and minimize their carbon footprint.
For more information, please visit:
https://www.connectm.com/
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
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SOURCE ConnectM Technology Solutions, Inc.
