Megaport Ltd
ASX:MP1

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Megaport Ltd
ASX:MP1
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Price: 12.65 AUD -3.95% Market Closed
Market Cap: 2.2B AUD

Megaport Ltd
Investor Relations

Megaport Ltd. engages in the provision of software-defined networking based elastic interconnection services. The company is headquartered in Fortitude Valley, Queensland. The company went IPO on 2015-12-17. The company’s global Software Defined Network (SDN) helps businesses connect their network to services via an easy-to-use portal or its open application programming interface (API). The company operates through three segments: Asia-Pacific, North America and Europe. Asia-Pacific segment, including Australia, New Zealand, Hong Kong, Singapore and Japan. There are approximately 105 installed data centers operate across Asia-Pacific. North America segment includes approximately 198 installed data centers across the United States of America and Canada. Europe segment includes Megaport (Bulgaria) EAD (formerly OMNIX Group AD) and Megaport (Deutschland) GmbH (formerly Peering GmbH) respectively. There are approximately 102 installed data centers across Europe. The Company’s services include Megaport Virtual Edge, Megaport Cloud Router, Data Centre Interconnect, IX Peering and Megaport Marketplace.

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Last Earnings Call
Fiscal Period
Q2 2024
Call Date
Jan 29, 2024
AI Summary
Q2 2024

Strong Revenue Growth: Revenue for the quarter was $48.6 million, up 31% year-on-year, reflecting a significant turnaround for the business.

Profitability Surge: EBITDA reached $15.1 million, an increase of 529% year-on-year, highlighting major improvement in operational performance.

Cash Position: Cash at bank stood at $62.5 million, up $7.3 million quarter-on-quarter, with strong positive operating and net cash flow.

Guidance Maintained: FY '24 revenue and EBITDA guidance remain unchanged, while CapEx guidance has been reduced to $20–22 million from $28–30 million.

Growth Investments: Significant reinvestment in sales and marketing underway; recent hiring will impact costs in the second half, but is expected to drive growth.

Major Deal Win: Largest deal in company history closed via Global WAN ($1.4 million ARR over 3 years), 35 times larger than average deal size.

KPI Focus Shift: Company now focuses on revenue-generating KPIs for more accurate business performance tracking, moving away from legacy metrics.

Key Financials
Revenue
$48.6 million
EBITDA
$15.1 million
Operating Cash Flow
$15.2 million
Total Cash Flow
$7.3 million
Cash at Bank
$62.5 million
Net Cash
$45.8 million
Gross Margin
70%
Annual Recurring Revenue (ARR)
$192 million
CapEx
$20–22 million (FY '24 expected)
Total Services
748
Customers
39
Ports
155
VXCs and IX
522
MCRs (Megaport Cloud Routers)
not specified
Virtual Edge Platform
not specified
Earnings Call Recording
Other Earnings Calls

Management

Mr. Michael Reid
CEO & Executive Director
No Bio Available
Ms. Leticia Dorman
Chief Financial Officer
No Bio Available
Mr. Darren Wilson
Chief Operating Officer
No Bio Available
Mr. Cameron Daniel
Chief Technology Officer
No Bio Available
Ms. Jemima Harris
Chief Legal Officer
No Bio Available
Mr. Henry Wagner
Chief Marketing Officer
No Bio Available
Ms. Brynn Maddux
Executive Vice President of Terraforming Americas
No Bio Available
Mr. Brent Van Dussen
Principal Engineer
No Bio Available
Mr. Matt Simpson
Executive VP, BD & Global Channel
No Bio Available
Mr. Misha Cetrone
Executive Vice President of NAM & Global Alliances
No Bio Available

Contacts

Address
QUEENSLAND
Fortitude Valley
L 4 825 Ann St
Contacts
+61730887400.0
www.megaport.com