Megaport reports loss amid data centre investment

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Megaport reports loss amid data centre investment

Megaport continues to post losses as it remains aggressive in its data centre footprint expansion.

Net losses for the six months ending December 2018 were $16.5 million, up from the $13 million loss it posted for the same period last year.

Revenue was $15.2 million, which is up 72 percent from the same period in 2017 at $8.8 million. 

During the period, the company reached more than 1200 customers across 386 enabled data centres in 82 cities. The company went from generating $2 million in recurring revenue to $2.7 million between June and December 2018.

Speaking on the half-year results, chief executive Vincent English said, “We made significant investments in our sales and go-to-market engine while continuing to expand our footprint to new data centres and integrating with more cloud onramps.”

“These recent investments are at the early stages of positively impacting revenue performance.”

Also in the same period, Megaport entered into strategic partnerships with Cavern Technologies, DataBank, DataMSP, eStruxture, Linxdatacenter, OneAsia, Orixcom, Root, and STT GDC.

“As our recent go-to-market investments continue to ramp up and contribute further to our revenue performance, we are excited about the strong momentum going into the second half of the year,” English said.

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