CNTM ConnectM Technology Solutions, Inc.

Overview and Growth

ConnectM Technology Solutions, Inc. generated $35.84M of revenue in fiscal 2025, with net loss of $16.25M and an operating cash outflow of $9.79M. The $35.84M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 58.2% from $22.65M in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was -$0.22, which connects the reported earnings outcome with the company’s diluted share count. A diluted share base of 72.32M links the aggregate earnings figure to diluted EPS and helps frame the per-share comparison. Compared with 19.07M diluted shares in fiscal 2024, the current 72.32M base was 279.2% higher. At period end, total assets were $36.17M, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.99x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $11.47M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 32.0% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was an operating loss of $12.59M, reflecting costs that exceeded gross profit. An operating margin of -35.1% reflected costs exceeding revenue-level gross profit by 35.1% of sales. After all below-operating-line items, the company recorded a net loss of $16.25M for the fiscal year. Net margin was -45.3%, reflecting a loss equal to 45.3% of reported revenue. EBITDA was negative $11.77M, showing a deficit before interest, taxes, depreciation, and amortization. Before income taxes, the company recorded a loss of $16.07M, bridging the operating result to the final net loss. Measured against revenue, the pretax deficit represented 44.9%. An income-tax benefit of $16.09K improved the final result relative to pretax income or loss. The net loss equaled 44.9% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit decreased from $22.57M in fiscal 2024 to $16.25M.

Liquidity and Capital Structure

Total assets were $36.17M, supported by $34.59M of liabilities and $1.58M of shareholder equity. Current assets were $8.17M against $32.91M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.25x of current liabilities, so current liabilities exceeded current assets at period end. The company held $2.90M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 8.8% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented 4.4% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 95.6% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 8.0% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 183.5% from $12.76M in fiscal 2024, leaving current total assets higher year over year. Compared with $2.41M in fiscal 2024, the current cash balance moved 20.6% and finished higher.

Cash Flow and Earnings Quality

Operating activities used $9.79M of cash, resulting in an operating cash outflow for the year. Compared with a $5.96M operating cash outflow in fiscal 2024, the current outflow increased to $9.79M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.