Megaport (ASX: MP1) has recorded a strong quarter, celebrating new significant partnerships and the opening of its 100th data centre in North America.
Group revenue for the period reached $5.78 million, an increase of 12 per cent from 3Q18, while total monthly recurring revenue for June was $2 million up 11 per cent quarter-on-quarter.
The company opened 15 new data centres across its network, including nine sites in North America, taking the total number to 221 across three global regions.
It also entered into new network service provider and channel partnerships including NTT Thailand and Stratacore, as well as expanding its cloud onramp offering through partnership with Oracle FastConnect in London and Google Cloud's partner Interconnect.
Megaport CEO Vincent English says these achievements have bolstered the company's revenue streams as well as improved financial performance in Q4.
"Megaport achieved considerable milestones in the fourth quarter of FY18," he says.
"Reaching 100 data centres in North America alone is a direct outcome of our committment to pursuing the giant opportunity presented within this market where cloud adoption is still at an early stage.
"Investments we have made in our revenue engine are yielding excellent results... meanwhile, we continue to expand our reach through a combination of data centre, network, and cloud partnerships that build upon out neutral platform and give us the ability to offer connectivity to a truly global ecosystem."
Having closed out the fourth quarter, Megaport's focus is to continue integration of cloud services which create a seamless IT strategy.
"The network has become a critical part of an integrated cloud strategy," says English.
"One of Megaport's top priorities is to expand our network as a service footprint to extend the reach of cloud services to the locations enterprises currently manage their on-premises infrastructure.
"We will continue to focus on expanding the reach of our service offering and increasing the power of our ecosystem to drive value to our customers and shareholders."Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support