Friday, 18 January 2019 08:33

Megaport reports 21% revenue rise for 2Q2019

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Megaport reports 21% revenue rise for 2Q2019 Pixabay

Interconnection services provider and data centre operator Megaport has reported an increase of 21% in revenue year-on-year for the second quarter of full-year 2019, with the company pulling in $8.32 million.

In an update to the ASX, the company said its customer numbers stood at 1277 in December 2018, it was generating $2.7 million of monthly recurring revenue and was running 245 installed data centres.

The company said its North American region had upped its monthly recurring revenue from $550,000 in June 2018 to $1.0 million at the end of December 2018.

Megaport chief executive Vincent English said: “During the second quarter of fiscal year 2019, Megaport realised significant revenue gains, generating $8.32 million of revenue during the quarter, while also deepening strategic partnerships with key data centre operators and cloud providers.

"Cloud interconnection represents a significant opportunity for Megaport as cloud adoption continues to accelerate.

"To support further adoption, and as part of our commitment to both our customers and our cloud partners, we have enabled several new cloud on-ramps in the quarter – providing greater options to our customers and extending the reach of cloud services.

"Today, Megaport connects to more cloud on-ramps than any other interconnection fabric."

The company cited the following as its highlights of the quarter:

  • Revenue for the period was $8.32 million, an increase of 21% from the last quarter.
  • Total monthly recurring revenue for December 2018 was $2.72 million, an increase of $331,000, 14% QoQ.
  • Total installed data centres was 245 at the end of the quarter, an increase of 11 across three regions, or 5% QoQ.
  • Customers increased by 10% QoQ to a total of 1277.
  • Total ports increased in the quarter to 3344, 11% QoQ.
  • Total services increased in the quarter to 8735, or 14% QoQ, of which VXCs increased in the quarter to 4488, or 19% QoQ.
  • Average revenue per port in December 2018 increased to $812 or 3% QoQ.
  • At the end of December 2018, the company’s cash position was $38.1 million (including bank term deposits).

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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