​

  ​ ​ ​

Six Months Ended June 30,

  ​ ​ ​

Three Months Ended June 30,

​

​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenues

​

$

954,539

​

$

1,510,877

​

$

427,389

​

$

776,890

Cost of revenues

​

965,410

​

1,318,302

​

438,695

​

672,607

Gross Profit

​

(10,871)

​

192,575

​

(11,306)

​

104,283

Selling, general and administrative expenses

​

522,930

​

516,923

​

153,557

​

364,723

Loss from operations

​

(533,801)

​

(324,348)

​

(164,863)

​

(260,440)

Other income / (expense):

​

​

​

​

​

​

​

​

Bargain purchase gain

​

—

​

2,486,702

​

—

​

2,486,702

Interest expense

​

(116,458)

​

(22,559)

​

(46,340)

​

(16,414)

Other income (expense), net

​

(16,059)

​

(10,974)

​

(14,629)

​

26,916

Total other income (expense), net

​

(132,517)

​

2,453,169

​

(60,969)

​

2,497,204

Net loss from discontinued operations before income taxes

​

(666,318)

​

2,128,821

​

(225,832)

​

2,236,764

Gain on disposal of discontinued operation

​

19,053,911

​

—

​

19,053,911

​

—

Income tax benefit (provision)

​

(4,900,000)

​

—

​

(4,900,000)

​

—

Net income from discontinued operations after income taxes

​

13,487,593

​

2,128,821

​

13,928,079

​

2,236,764

Other comprehensive income (loss):

​

​

​

​

​

​

​

​

Foreign currency translation adjustments

​

(757,727)

​

(33,079)

​

(197,691)

​

(43,860)

Comprehensive income from discontinued operations before noncontrolling interests

​

12,729,866

​

2,095,742

​

13,730,388

​

2,192,904

Comprehensive income attributable to non-controlling interests

​

1,665

​

2,733

​

9,489

​

2,733

Comprehensive Income from discontinued operations, net of tax

​

$

12,728,201

​

$

2,093,009

​

$

13,720,899

​

$

2,190,171

​

  ​ ​ ​

June 17, 2026

Fair value of consideration received — 160,000,000 Blue Cloud equity shares

​

$

31,413,579

Carrying amount of noncontrolling interests derecognized

​

1,548,970

Less: carrying amount of net assets of GIX derecognized (including amounts recognized in accumulated other comprehensive loss)

​

13,908,638

​

​

$

19,053,911

​

  ​ ​ ​

​

​

  ​ ​ ​

ConnectM 

Amounts attributable to noncontrolling interests

​

Noncontrolling

​

Technology Solutions,

Six Months Ended June 30, 2026

  ​ ​ ​

 interests

  ​ ​ ​

 Inc.

Comprehensive income (loss) from operations, before disposal gain (net of tax)

​

$

1,665

​

$

(1,425,710)

Gain on disposal, net of tax

​

—

​

14,153,911

Comprehensive income from discontinued operations, net of tax

$

1,665

$

12,728,201

​

  ​ ​ ​

​

​

  ​ ​ ​

ConnectM

Amounts attributable to noncontrolling interests

​

Noncontrolling 

​

Technology Solutions,

Six Months Ended June 30, 2025

​

interests

​

Inc.

Income from discontinued operations, net of tax

​

$

2,733

​

$

2,093,009

Net Assets of the discontinued operation derecognized on disposal

  ​ ​ ​

December 31, 2025

Cash and cash equivalents

​

$

167,848

Accounts receivable, net

​

932,438

Inventories, net

​

515,826

Prepaid expenses

​

664,231

Current assets from discontinued operations

​

2,280,343

Right-of-use asset - Operating Lease

​

68,410

Property and equipment, net

​

19,706,169

Intangible assets, net

​

295,160

Non-current assets from discontinued operations

​

20,069,739

Total assets from discontinued operation

​

22,350,082

Accounts payable

​

976,430

Accrued expenses and other current liabilities

​

894,385

Debt, net of debt discount

​

883,347

Deferred Consideration

​

396,850

Operating lease liability

​

36,830

Contract liabilities

​

66,450

Deferred Tax Liabilities

​

4,039,514

Current liabilities from discontinued operations

​

7,293,806

Debt, net of current portion

​

355,929

Operating lease liabilities, net of current portion

​

33,795

Non-current liabilities from discontinued operations

​

389,724

Total liabilities from discontinued operation

​

7,683,530

Noncontrolling interest

​

​

1,547,305