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Equinix (EQIX) investor relations material
Equinix Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Achieved record annualized gross bookings of $394 million, up 25% year-over-year and 14% sequentially, reflecting strong demand and positive pricing actions.
Q3 2025 revenues reached $2.32 billion, up 5% year-over-year, with net income of $374 million, a 26% increase, and adjusted EBITDA of $1.15 billion, up 10% year-over-year.
Expanded land holdings in key metros, supporting over 900 MW of future capacity and plans to double capacity by 2029.
Closed over 4,400 deals with more than 3,400 customers, highlighting global platform strength and ecosystem expansion.
Completed the acquisition of TIM NextGen DC Corporation in the Philippines for $183 million, expanding Asia-Pacific presence.
Financial highlights
Q3 2025 revenue: $2.32 billion (up 5% year-over-year); adjusted EBITDA: $1.15 billion (up 10%); AFFO: $965 million (up 11%); AFFO per share: $9.83 (up 9%).
Adjusted EBITDA margin was 50% for Q3 2025; cash gross margin was 68%.
Net leverage stood at 3.6x; cash and short-term investments totaled $2.9 billion; available liquidity was $6.9 billion.
Issued $2.566 billion in senior notes and repaid $1.2 billion in the first nine months of 2025; $9.5 billion in green bonds issued to date.
Regional revenue growth: Americas up 8% YoY, EMEA up 6% YoY, APAC down 1% YoY; regional adjusted EBITDA: Americas up 15% YoY, EMEA up 3% YoY, APAC up 10% YoY.
Outlook and guidance
Full-year 2025 revenue guidance: $9.208–$9.328 billion, 7–8% normalized and constant currency growth.
Adjusted EBITDA for 2025 expected at $4.531–$4.611 billion, margin 49–50%.
AFFO for 2025 expected at $3.731–$3.811 billion, up 11–14% year-over-year; AFFO per share: $37.95–$38.77, up 8–11%.
Q4 2025 revenue guidance: $2.411–$2.531 billion; adjusted EBITDA: $1.187–$1.267 billion.
2025 CapEx expected between $3.792 billion and $4.292 billion.
Reimbursement timeline for xScale capex?
What is the AI solution's market differentiation?
How does new power strategy impact costs?
Impact of extended retail presales window?
What drives the Q4 xScale revenue guidance range?
Power availability for new xScale projects?
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Q4 202511 Feb, 2026
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Frequently asked questions
The global data center provider
Equinix is a global data center and interconnection company that provides data center services to businesses across a range of industries. The company's solutions enable businesses to connect and interconnect with each other, facilitating the exchange of digital information and data.
Some of Equinx’s main competitors include Digital Realty Trust, NetApp, and Iron Mountain.
Operates more than 200 data centers worldwide
Equinix was founded in 1998 and is headquartered in Redwood City, California. The company operates in over 50 markets across five continents and has more than 200 data centers worldwide.
Equinix is committed to sustainability and has set ambitious goals to reduce its carbon footprint, including achieving 100% renewable energy for its global platform by 2030.
Interesting facts about Equinix
An interesting fact about Equinix is that it has made a number of strategic acquisitions to expand its global reach and capabilities, including the acquisition of TelecityGroup, one of the leading data center providers in Europe. Additionally, Equinix is involved in a range of industry associations and initiatives, including the Open Compute Project and the Green Grid.
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