they key metric to watch is number of connected devices in my opinion
this will provide an indication of future SaaS high margin revenue
I believe they are targeting circa 60 cents / device / month once the SaaS kicks in which is generally after 12 months from contract/deployment is my understanding
Currently they are at around 300,000 connected devices, the way they are growing I won't be surprised to see this grow to between 500,000 and 1 million in the next 12 to 18 months ...
What gets me really excited is when you look at the total addressable market of the municipalities they already have contracted, the potential revenue is huge if they can continue to execute and expand. The product is proven, is validated by government clients globally & has huge scope for significant growth.
Disclaimer; I own shares in ASX:X2M do not rely on anything I say do your own homework/research
X2M Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
