Megaport pursues ‘aggressive global expansion’

Company reports 78 per cent growth in revenue

Megaport says in FY20 it is focusing on an “aggressive global expansion strategy”, with the interconnection-as-a-service company today reporting 78 per cent growth in revenue for the 12 months to 30 June.

Megaport ended the year with physical infrastructure in 300 data centres (and 528 Megaport ‘enabled’ data centres — where customers can connect directly to Megaport equipment via a dark fibre campus cross connect at a similar price to those data centres where the company has a point of presence).

Revenue reached $35.1 million in FY19, with the company’s net loss increasing to $33.6 million from $24.5 million. When discounting direct network costs, Megaport’s profit grew $7.5 million to $11.9 million. Total monthly recurring revenue for June was $3.6 million, up 82 per cent year on year.

“This growth is underpinned by our North American business contributing $13.6 million this fiscal year, an increase of 154 per cent from FY18,” Megaport chief executive Vincent English said in a statement.

“Expanding our presence in Europe and other key areas in Asia Pacific, the US, and Canada has enabled Megaport to reach a milestone of 20 countries, and 528 enabled locations including 300 installed data centres.”

“This accelerated growth and reach empowers the company to continue unlocking major use cases for cloud connectivity and on-demand networking for customers across the globe,” English said.

During the year the company launched version 2.0 of its Megaport Cloud Router service and increased its cloud onramps to 132.

“In FY20, we will continue to extend the reach and availability of public cloud onramps to enterprise data centres while further reducing the complexity of getting connected to critical cloud-based services,” English said.

“Combined with our robust ecosystem of service providers, our innovative networking tools will continue to support the scaling of secure and high-performance hybrid and multicloud architectures.

“Deepening our footprint in existing markets, as well as extending the reach of interconnectivity services into new markets, will be a key priority for the next fiscal year. Whether that means enabling underserved metros or encouraging choice within mature metros, Megaport will endeavour to deliver dedicated, simplified connectivity to the enterprise.”

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