Quarterly ResultMay 28, 2026, 09:07 AM
ConnectM Q1 Net Loss Narrows 4%; SG&A Down 19%; Keen Labs Activates
AI Summary
ConnectM Technology Solutions reported its first quarter 2026 results, showing a 4% reduction in net loss to $6.7 million and a narrowed Adjusted EBITDA loss to $2.7 million. The company achieved a 19% decrease in selling, general, and administrative expenses. This quarter marked a deliberate portfolio inflection, including the activation of Keen Labs with $1.9 million in product revenue, 23% growth in Logistics revenue, and the divestment or wind-down of four Owned Service Network sub-units. Subsequent to quarter-end, ConnectM signed the Blue Cloud India Share Swap and closed the Harry Kahn Associates defense acquisition, alongside a 1-for-32 reverse stock split.
Key Highlights
- Net loss of $6.7 million, down 4% from $7.0 million year-over-year.
- Adjusted EBITDA loss narrowed to $(2.7) million from $(3.0) million year-over-year.
- SG&A declined 19.0% to $5.1 million, improving 770 basis points as a percentage of revenue.
- Revenue of $8.2 million, reflecting divestitures offset by $1.9 million from Keen Labs and 23% Logistics growth.
- Keen Labs contributed $1.9 million in product revenue in its first full reporting quarter.
- Closed Harry Kahn Associates defense acquisition on April 3, 2026, establishing a new function.
- Signed Blue Cloud India Share Swap on April 6, 2026, for approximately $39.6 million, divesting India operations.
- Effected a 1-for-32 reverse stock split on April 20, 2026, for national exchange uplisting.
Price Impact
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