DXN is trading at A$0.12, down 14.29%, following disclosure that its first US AI customer intends to cancel an A$8.8 million contract.
- The cancellation is not finalised; DXN expects about A$4.2 million for work completed and costs committed.
- DXN reported A$30.8 million of backlog and a separate A$12.2 million AI project, but these positives have not offset concern over the lost contract.
- Coverage found no newer company announcement explaining the November 2 move.