CyrusOne reported strong demand in Q3 for its collocation data centers. Revenue in Q3 was $175 million, up 22% over a year earlier. There was a net loss of $55 million, primarily due to $54 million impairment charge for a facility in Connecticut.
Some highlights for the quarter:
- Leased 15 megawatts (MW) and 151,000 colocation square feet (CSF) in the third quarter, totaling $27 million in annualized GAAP revenue
- Backlog of $37 million in annualized GAAP revenue as of the end of the third quarter, representing more than $290 million in total contract value
- Added five Fortune 1000 companies as new customers in the third quarter, increasing the total number of Fortune 1000 customers to 195 as of the end of the quarter
- Company record construction with completion of eight projects totaling 555,000 CSF and 76 MW to add inventory across key markets, including Phoenix, Northern Virginia, Chicago, Dallas and San Antonio
- Closed the previously announced acquisition of 66 acres of land in Allen, Texas, with an option to acquire an additional 24 acres of adjacent land, to support growth in the Dallas market
- Subsequent to the end of the quarter, signed a commercial agreement with and made $100 million investment in GDS Holdings Limited (“GDS”), a leading data center provider in China, creating cross-selling opportunities and expanding our global presence.
“We had an outstanding quarter in virtually all aspects of our business, including high growth rates across our key financial metrics, continued strong bookings, and a record level of capacity brought online, which positions us well to meet the demand in our late-stage sales funnel across our top markets,” said Gary Wojtaszek, president and chief executive officer of CyrusOne.