CyrusOne reported Q4 2020 revenue of $268.4 million for the fourth quarter, compared to $253.9 million for the same period in 2019, an increase of 6%. The increase in revenue was driven primarily by a 10% increase in occupied CSF and additional interconnection services, partially offset by the Company’s receipt of $4.7 million in lease termination fees in the fourth quarter of 2019.
“The fourth quarter bookings included a significant contribution from our hyperscale customers and more than $30 million in annualized revenue signed across our U.S. markets, closing out a record leasing year for the company with nearly $160 million in annualized revenue signed,” said Bruce W. Duncan, president and chief executive officer of CyrusOne. “The $101 million revenue backlog positions us well for continued growth, and we have a strong balance sheet with more than $1.7 billion in available liquidity, including nearly $500 million in available forward equity, to support this growth. We are also excited to expand into France with a fully pre-leased data center, extending our footprint into another key European market and further enhancing our offering for our customers.”
Highlights
- Leased 31 megawatts (“MW”) and 162,000 colocation square feet (“CSF”) in the fourth quarter, totaling $49.3 million in annualized GAAP revenue
- – For full year 2020, signed leases totaling 101 MW and 616,000 CSF, representing $156.8 million in annualized GAAP revenue(1), the highest annual leasing total in the Company’s history
- Backlog of approximately $101 million in annualized GAAP revenue as of the end of the fourth quarter representing approximately $830 million in total contract value
- Expansion into Paris, France, one of the leading data center markets in Europe, with a 25-year lease on a 13-acre site and development of the first phase of a fully pre-leased