| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 8.17 | 9.1% |
| Total Income | 8.17 | 9.1% |
| Expenditure | 11.40 | 7.0% |
| PBT | -6.67 | |
| Net Profit | -6.95 | 1.0% |
| OPM | -39.46% | 3.04pp |
| NPM | -84.99% | 6.91pp |
| EPS | -1.33 | 504.6% |
ConnectM Reports Q1 2026 Results: SG&A Down 19%, Keen Labs Activates
28 May 2026 · 28 May, 6:37 pm
Summary
ConnectM Technology Solutions reported first quarter 2026 results, which included a narrowing of net loss and adjusted EBITDA loss year-over-year. The company saw a 19% reduction in selling, general, and administrative expenses. Revenue was $8.2 million, impacted by the exit from legacy operations but offset by new revenue from Keen Labs and growth in Logistics. Subsequent to quarter end, ConnectM signed the Blue Cloud India Share Swap and closed the Harry Kahn Associates defense acquisition.
Key Highlights
- 1
ConnectM's net loss decreased by 4% to $6.7 million in Q1 2026 compared to $7.0 million in the prior-year quarter.
- 2
Adjusted EBITDA loss narrowed to $(2.7) million from $(3.0) million year-over-year, a $0.3 million improvement.
- 3
SG&A declined by 19.0% to $5.1 million, improving SG&A as a percentage of revenue by 770 basis points to 62%.
- 4
Revenue totaled $8.2 million, reflecting the exit from legacy Owned Service Network operations, offset by $1.9 million from Keen Labs and 23% growth in Logistics.
- 5
The company reported cash and cash equivalents of $2.5 million at the end of the quarter.
- 6
Keen Labs contributed approximately $1.9 million of product revenue in its first full reporting quarter.
Management Comments
Bhaskar Panigrahi
This quarter’s results reflect deliberate work that does not always show up in a single line item on the income statement. We are exiting businesses that were not earning their cost of capital and concentrating resources in the parts of ConnectM that compound—Keen Labs, Logistics, and our newly added Government and Defense Technology function. SG&A is down 19%, net loss decreased 4%, and our Adjusted EBITDA loss has narrowed; we are managing this Company for long-term per-share intrinsic value.
Nayeem Hussain
First quarter results capture the cost of our year-end audit and strategic transition; we expect the second quarter and beyond to begin to show the benefit. We have realigned our reporting segments , we signed the Blue Cloud Share Swap that will consolidate the Company around its U.S. business lines, and we added Keen Labs , Sun Solar, and Harry Kahn Associates to the platform. Each is intended to strengthen the economics of the Company.”
Informational and educational content only. Not investment advice.