DXN Limited's FY24 Revenue Update

DXN Limited (ASX: $DXN) has announced that its unaudited revenue for FY24 is projected to surpass $10m, marking a substantial increase from the $6.6m revenue recorded in FY23. The surge in revenue is attributed to the deployment of new Modular Data Centres across multiple clients.

Executive Commentary on FY24 Performance

DXN's Managing Director and CEO, Shalini Lagrutta, highlighted the positive impact of the company's strategic turnaround plan, which involved exiting non-profitable businesses and refocusing on the core business of modular data centres. Lagrutta emphasized the early signs of success, attributing the revenue growth to a dedicated team's focus on customer satisfaction and the delivery of high-quality design and build services.

Summary of FY24 Market Update

DXN Limited anticipates a significant revenue increase in FY24, with unaudited revenue expected to exceed $10m, compared to $6.6m in FY23. The company's strategic shift towards modular data centres has shown promising results, driven by the deployment of new facilities across multiple clients. Additionally, DXN's Exclusive Global Distribution Licence Agreement with Flow2Edge Holdings I Pte Ltd is no longer exclusive, while the Consulting Agreement remains in effect. DXN's achievements in receiving Uptime Institute Tier-Ready III and Tier-Ready IV design review awards further solidify its position as a leading modular data centre developer. The company's focus on customer-centric solutions and high-quality service delivery sets a positive outlook for its future performance and market positioning.