ConnectM launches Keen Labs subsidiary; tech revenue grew 9x to $19.1M since 2021

ConnectM Technology Solutions, Inc.

Keen Labs consolidates ConnectM's AI, IoT, battery, and distributed energy assets for enterprise customers.
Tech revenue grew from $2.2M (2021) to estimated $19.1M (2025), ~80% CAGR; gross profit more than 10x since 2023.
EBITDA turned positive in 2024, projected to triple in 2025; SG&A as % of revenue fell from 63% (2021) to ~15% (2025E).
Subsidiary expected to pursue both organic development and strategic M&A to accelerate product innovation.
CEO Bhaskar Panigrahi says Keen Labs is 'next chapter'; Nayeem Hussain named President of Keen Labs.

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