🔴 DXN is trading 47% down after AI customer moves to cancel A$8.8m contract

DXN is trading 47.17% down at A$0.14 after its first AI customer moved to cancel an A$8.8 million data-centre contract, disclosed in the October 30 quarterly update.

• The customer’s strategic shift makes a larger follow-on project unlikely; DXN expects about A$4.2 million for completed work and committed costs.
• Q1 FY27 revenue was approximately A$3.4 million, up 380%, with a A$30.8 million backlog and a separate A$12.2 million AI contract. These positives did not prevent a sharp sell-off on October 30.