ConnectM Reports First Quarter 2026 Results: SG&A Down 19%, Keen Labs Activates
ConnectM reported Q1 2026 revenue of $8.2 million, down 9% year-over-year, with a net loss of $6.7 million that narrowed 4% from the prior year. Selling, general and administrative expenses fell 19% to $5.1 million, while Adjusted EBITDA loss improved to $2.7 million from $3.0 million, despite absorbing $2.9 million in non-cash divestiture losses. The company activated Keen Labs as its U.S. product revenue platform, generating $1.9 million in first-quarter revenue, and Logistics grew 23% to $3.1 million.
Key figures
- Revenue
- 8172553
- Guidance
- Q2 2026 to reflect first full period of Keen Labs commercial scale-up and inclusion of Harry Kahn Associates results
- Revenue Yoy
- -9%
- Sga
- 5090138
- Sga yoy
- -19%
- Net loss yoy
- -4%
- Logistics yoy
- 23%
- Divestiture loss
- 2900000
- Keen labs revenue
- 1900000
- Logistics revenue
- 3100000
- Reverse split ratio
- 1-for-32
- Cash and equivalents
- 2500000
- Blue cloud equity pct
- 17%
- Blue cloud implied value
- 39600000
- Heat pump ytd commitments
- 4300000
- Blue cloud shares received
- 160000000
AI analysis
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