🔴 DXN is trading 14.29% down today on AI customer’s intent to cancel A$8.8m contract

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.