NEXTDC REPORTS LOSS

NEXTDC REPORTS LOSS

 NEXTDC Limited (ASX:NXT) has suffered a loss attributable to members of $7.3 million compared to $4.3 million in profit in the previous corresponding period.

This was despite the cloud computing company’s 200 per cent boost in revenue to $11.4 million.

Chief executive officer Craig Scroggie says the focus has been on developing the network of carrier and vendor neutral data centres.

“As the company begins to transition out of the development phase, and leverages its impressive national network of data centres, the operating leverage of the model will become more pronounced in the financial results.”

During the half year to December, NXT generated revenue from four operating data centres.

Scroggie says the next half is promising, after the fifth data centre in Perth went live on Monday.

“With the opening of our fifth world-class data centre, P1 Perth, the company now has a true national presence.

“We are in position to leverage our national network of vendor and carrier neutral data centres for the benefit of all customers and partners.

“During the period we have achieved many important milestones in capital management, development and sales.”

Scroggie lists the company’s deal with Telstra as a channel partner in December and $30 million corporate debt facility with ANZ in August as highlights.

“Our focus now turns to enabling our broad network of channel partners and continuing to build on the development of our rich customer ecosystem.”

Subscribe Now!
Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

HMC Capital enters private credit market with $127.5m purchase of Payton Capital

HMC Capital enters private credit market with $127.5m purchase of Payton Capital

After more than a year of due diligence and amidst plans to lift it...

Cost of living elevates salaries and perks as key drivers of employee retention in 2024

Cost of living elevates salaries and perks as key drivers of employee retention in 2024

The cost of living is making salaries and perks just as important a...

Enterprise roll-out "one of the biggest launches in Canva's history" as ARR hits $2.2b

Enterprise roll-out "one of the biggest launches in Canva's history" as ARR hits $2.2b

Sydney-headquartered graphic design and visualisation tool giant Ca...

The Star unsuitable to hold a casino licence, final Bell Inquiry submissions claim

The Star unsuitable to hold a casino licence, final Bell Inquiry submissions claim

The Star Entertainment Group (ASX: SGR) has been declared unsuitabl...