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Megaport (MP1) investor relations material
Megaport H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Annual recurring revenue reached $243.8M, up 20% year-over-year, with the Americas contributing 57% of total ARR and net revenue retention stabilizing at 107% for 18 months.
Large customer base (billing over $100K ARR) grew 18% to 629, and 236 net new logos were added, a 157% increase year-over-year, reflecting investments in go-to-market, new products, and locations.
Expansion included 115 new data centers (up 105% YoY), now totaling over 1,000 globally, with significant growth in the US market driven by AI and cloud demand.
Product innovation and engineering investment led to over 25% of ARR growth from new products, with a 150% YoY growth in new product innovation and offerings such as MVE, NAT Gateway, and expanded cloud connectivity.
Customer lifetime value increased by 50% year-over-year.
Financial highlights
FY25 revenue was $227.1M (reported), exceeding guidance, with EBITDA at $62.3M (reported) and adjusted EBITDA of $59.2M (26% margin) after lease adjustments.
CapEx was $34.6M, mainly for new data centers, compute platform deployment, and product innovation; maintenance CapEx was less than 3% of revenue.
Gross margin remained stable at 70–71% after normalizing for IFRS 16 adjustments.
Cash at bank exceeded $100M as of June, rising 41% to $102.1M, with net cash flow remaining strong.
Employee costs increased 29% year-over-year, reflecting strategic hiring in GTM and R&D, with R&D headcount up 37%.
Outlook and guidance
FY26 revenue guidance is $260–$270M, representing 15–19% growth; EBITDA margin expected at 18–20% of revenue, reflecting continued investment in go-to-market and network expansion.
CapEx is forecast at 18–20% of revenue, with maintenance CapEx under 3%.
Free cash flow breakeven will be maintained despite increased investment, with accelerated revenue growth expected in FY27 and beyond.
Strategic focus on doubling down in the US and leveraging AI-driven market dynamics.
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