Nixxy secures contract with Italian firm Mexedia

NEW YORK - Nixxy, Inc. (NASDAQ:NIXX), a technology company focused on transforming traditional markets, has announced a significant contract through its subsidiary Auralink AI, Inc. with Mexedia SpA, an Italian technology and communications provider listed on Euronext (EPA:ENX) Growth Paris as ALMEX.PA. The announcement comes as Nixxy, currently valued at $26.4 million in market capitalization, seeks to reverse its recent market performance, with the stock down nearly 63% year-to-date according to InvestingPro data.

The contract, set to commence by May 1, 2025, involves Auralink AI providing Mexedia with SMS services using its cloud-based platform designed to help carriers aggregate wholesale SMS messaging. The platform’s port provisioning is engineered to support up to $10 million in revenue per month for a year, with automatic renewal options available. This potential revenue boost is significant given Nixxy’s current trailing twelve-month revenue of $670,000. InvestingPro analysis indicates analysts expect substantial sales growth in the current year, with revenue forecast to grow by 205%.

Interim CEO of Nixxy, Miles Jennings, expressed satisfaction with the deal, especially following the recent acquisition of AI-enhanced billing software and switching platform. The company anticipates increasing its service capacities in the second and third quarters of the year and plans to offer further financial guidance soon. With an overall Financial Health Score rated as ’Weak’ by InvestingPro, which offers 12 additional exclusive insights about Nixxy, the company faces challenges in maintaining adequate liquidity, with its current ratio at 0.58.

Evan Sohn, Chairman of the Board of Directors at Nixxy, highlighted the company’s strategy to disrupt traditional businesses with technology, aiming for efficiency-driven profits and higher margins from existing revenues. Sohn also noted the company’s goal of achieving rapid scalability in revenue and profitability using AI, moving towards building a billion-dollar enterprise.

Nixxy is actively pursuing operational transformation by integrating advanced technology into the operations of acquired businesses and is currently in discussions with potential acquisition targets that align with this strategy.

The company is also strengthening its leadership team with experienced professionals in capital markets, mergers, acquisitions, and operational management, with announcements of key appointments expected in the near future.

In line with its strategic direction, Nixxy is updating its corporate website to better communicate with shareholders and stakeholders. The updated site will provide insights into the company’s strategy and focus areas, with filings and press releases available at www.nixxy.com/investor-relations.

This announcement is based on a press release statement, and while the contract represents a potential increase in Nixxy’s revenues, investors are cautioned that forward-looking statements involve risks and uncertainties. The financial information provided by third parties and Mexedia SpA has been reasonably verified by Nixxy, but is subject to further due diligence and may differ materially from actual results. Investors should note that Nixxy’s next earnings report is scheduled for April 17, 2025, which may provide additional clarity on the company’s financial trajectory.

In other recent news, Nixxy Inc. has entered the telecommunications and data sectors through a strategic asset purchase, aiming for a $5 million monthly revenue run rate by Q2 2025. The company plans to launch these services under its Auralink AI subsidiary, leveraging advanced AI and large language models to enhance global business communications. In another development, Nixxy initiated a private offering of zero-coupon convertible notes totaling up to $50 million, with investors purchasing the notes using Bitcoin. The notes are convertible into common stock at $7.50 per share, reflecting Nixxy’s innovative approach to financing.

Additionally, Nixxy announced the resignation of Granger Whitelaw as CEO and board member, while Miles Jennings steps in as interim CEO. The company is actively searching for a permanent successor. Nixxy also disclosed the departure of board member Christopher Mann due to personal commitments, unrelated to any disagreements with the company. The company has withdrawn the record date for the spin-off of its subsidiary, Atlantic Energy Solutions, to allow for further evaluations and maximize shareholder value.

These recent developments highlight Nixxy’s strategic maneuvers to strengthen its market position and align with its corporate goals.

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