ConnectM Technology Solutions Retires $1.9 Million in Debt, Advancing Towards Debt-Free Status
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ConnectM Eliminates an Additional $1.9 Million of Debt - ConnectM Technology (NASDAQ:CNTM)
MARLBOROUGH, Mass., Feb. 27, 2025 /PRNewswire/ -- ConnectM Technology Solutions, Inc. 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 of debt. 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. Investor Relations Dave Gentry, CEO RedChip Companies, Inc. 1-407-644-4256 [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/connectm-eliminates-an-additional-1-9-million-of-debt-302387947.html SOURCE ConnectM Technology Solutions, Inc. CNTMConnectM Technology Solutions Inc$0.72082.39%OverviewMarket News and Data brought to you by Benzinga APIs
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ConnectM Retires Additional $1.9 Million Debt, Eliminating $31M in Total Liabilities to Date - On Track to be Debt-free by Q2 2025 - ConnectM Technology (NASDAQ:CNTM)
~ 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. 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. Investor Relations Dave Gentry, CEO RedChip Companies, Inc. 1-407-644-4256 [email protected] View original content to download multimedia:https://www.prnewswire.com/news-releases/connectm-retires-additional-1-9-million-debt-eliminating-31m-in-total-liabilities-to-date--on-track-to-be-debt-free-by-q2-2025--302387295.html SOURCE ConnectM Technology Solutions, Inc. CNTMConnectM Technology Solutions Inc$0.6989-0.72%OverviewMarket News and Data brought to you by Benzinga APIs
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ConnectM Technology Solutions, a company focused on electrification and AI-powered solutions, has eliminated an additional $1.9 million in debt. The company is on track to be debt-free by Q2 2025 and aims to achieve operating cash flow breakeven in Q1 2025.
ConnectM Technology Solutions Advances Debt Reduction Strategy
ConnectM Technology Solutions, Inc. (NASDAQ: CNTM), a high-growth technology company focused on the electrification economy, has announced significant progress in its debt reduction efforts. The company has successfully retired an additional $1.9 million of debt, bringing its total debt elimination to $31 million since going public on July 15, 2025 12.
Financial Outlook and Milestones
ConnectM is currently operating at a $45 million revenue run rate and is on track to achieve several important financial milestones:
- Debt-free status: The company expects to be completely debt-free by Q2 2025 2.
- Positive stockholder equity: Alongside becoming debt-free, ConnectM anticipates reaching a positive stockholder equity position in Q2 2025 2.
- Cash flow breakeven: The company is projecting to achieve operating cash flow breakeven in Q1 2025 2.
These financial targets demonstrate ConnectM's commitment to strengthening its balance sheet and improving its overall financial health.
ConnectM's Technology and Market Position
ConnectM positions itself at the forefront of the electrification economy with its AI-powered technology solutions platform. The company's core offerings include:
- Energy Intelligence Network: A proprietary platform designed to accelerate the transition to all-electric heating, cooling, and transportation for residential and light commercial buildings 12.
- Integrated solutions: ConnectM leverages technology, data, artificial intelligence, contemporary design, and behavioral economics to make electrification more user-friendly, affordable, and precise 12.
As a vertically integrated company, ConnectM owns its service networks and maintains a comprehensive technology stack, allowing it to offer end-to-end solutions to its customers 12.
Market Impact and Future Prospects
ConnectM's focus on electrification and AI-powered solutions positions it well in the growing clean energy and smart technology markets. The company's efforts to reduce debt and achieve financial stability could potentially increase investor confidence and support future growth initiatives.
However, as with any forward-looking statements, there are risks and uncertainties that could affect ConnectM's ability to achieve its stated goals. The company has cautioned investors about these risks in its filings with the Securities and Exchange Commission 12.
As ConnectM continues to execute its debt reduction strategy and advance its technology offerings, industry observers will be watching closely to see how the company navigates the competitive landscape of the electrification economy and capitalizes on the increasing demand for smart, sustainable energy solutions.
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