FY24 Half Year Results Announcement
Megaport reported a 35% increase in revenue to $95.1M for the half-year ended 31 December 2023.
EBITDA rose significantly by 785% to $30.1M in the same period.
Annual Recurring Revenue (ARR) grew by 29% to $191.7M as of December 2023.
Gross Profit for 1H FY24 was $66.6M, marking a 43% increase from 1H FY23.
Net profit for the half-year was $4.4M, a $17.9M improvement from the previous year.
Net Cash Flow for 1H FY24 was $12.5M, a substantial improvement from a $28.3M net cash outflow in 1H FY23.
Key performance metrics across all regions showed growth, with ARR up 7%, total services up 6%, customer logos up 3%, ports up 4%, MCR up 9%, and MVE up 45%.
Megaport achieved four consecutive quarters of positive net operating cash flows, leading to the cessation of ASX's quarterly reporting obligations.
Revised FY24 revenue and EBITDA guidance are $190-$195M and $51-$57M, respectively, with capex guidance adjusted to $20-$22M.
Megaport is a leading Network as a Service (NaaS) provider, partnering with major cloud service providers and data centre operators.
This announcement is a summary of the company approved ASX announcement on 19/2/2024 and is based on facts from the announcement.