DXN teases revenue jump for FY24

Prefabricated modular data centre provider Data Exchange Networks (DXN) has claimed its unaudited revenue for the 2024 financial year is expected to surpass $10 million.

This is at least 50 per cent higher than the financial year prior’s revenue result of $6.6 million.

According to a statement on the Australian Securities Exchange (ASX), the growth in revenue was driven by the deployment of new modular data centres across multiple clients.

DXN managing director and CEO Shalini Lagrutta said the company’s decision to exit non-profitable businesses and focus on its core of modular data centres, which it enacted in early FY24, is “starting to demonstrate results, in addition to a highly dedicated team focusing on the customer and providing high quality design, build and delivery”.

In the company’s half-year results, DXN improved its net loss after tax by 62 per cent from $2.2 million to $838,392 for the six months ending 31 December 2023.

It also made total sales revenue of $4.5 million for the period, an increase of 19 per cent year-on-year.

In addition to the sneak peek of its full-year results, DXN also said that its exclusive global distribution licence agreement between itself and Flow2Edge Holdings is no longer exclusive, but the distribution agreement and exclusive global consulting services agreement, are still in effect.