Listed Australian network interconnection company and data centre operator Megaport has increased revenues to $4.15 million for the first quarter of FY 2018, a lift of 19.6% from the last quarter.
The boost in revenues comes as Megaport (ASX:MP1) entered into a key partnership with NTT, Singapore and expanded into new markets including Adelaide, Kansas City, and Wellington.
Megaport also entered into new data centre partnerships with QTS, Stream, and FORTRUST and activated its first European Oracle Cloud onramp in Frankfurt during the quarter.
Megaport’s chief executive Vincent English said, “Q1 yielded solid results, and we are particularly happy with the strong performance from North America in the quarter”.
{loadposition peter}“Reaffirming our partnership strategy, key channel partnerships have contributed significantly to total revenue in the region. We will build on this momentum in the coming quarters as our Ecosystem continues to grow.
“As part of our expansion strategy, we have extended to Tier 2 markets that have previously been underserved from a cloud access perspective. We have also seen the number of direct connections to cloud providers increase by 56% quarter over quarter,” English said.
In addition to the increase in revenues, other 1Q FY18 results reported by Megaport were:
- Total monthly recurring revenue for September 2017 was $1.31 million, an increase of $94,000, 8% QoQ.
- Total data centres enabled were 173 at the end of the quarter.
- Customers increased by 6% QoQ to 783.
- Total ports increased in the quarter to 2064, or 13% increase QoQ.
- Total services increased in the quarter to 4422 or 17% increase QoQ, of which VXCs increased in the quarter to 1,761 or 28% increase QoQ.
- Average revenue per port in September 2017 is $636.
- At the end of September 2017, the company’s cash position was $28.1 million.