Core Insights - Equinix Inc. reported fourth-quarter 2024 adjusted funds from operations (AFFO) per share of $7.92, missing the Zacks Consensus Estimate of $8.11, but showing an 8.5% improvement year over year [1][3] - The company experienced higher non-recurring charges that impacted performance, but steady growth in colocation and interconnection revenues, driven by strong demand for digital infrastructure, partially supported results [2][4] - Total quarterly revenues reached $2.26 billion, slightly missing the consensus estimate, but reflecting a 7.1% year-over-year increase [3] Financial Performance - For the full year 2024, AFFO per share was $35.02, a 9.1% increase from the previous year, although it fell short of the consensus estimate of $35.19 [3] - Total revenues for 2024 amounted to $8.75 billion, up 6.8% year over year, but also missed the consensus mark [3] - Recurring revenues in Q4 were $2.09 billion, a 5.8% increase from the prior year, while non-recurring revenues rose significantly by 26.9% to $170 million [4] Operational Highlights - Adjusted EBITDA for the quarter was $1.02 billion, an 11% year-over-year increase, with an adjusted EBITDA margin of 45% [5] - The company spent $115 million on recurring capital expenditure in Q4, a 9.5% increase year over year, while non-recurring capital expenditure was $872 million, down 2.2% [6] Balance Sheet and Liquidity - As of December 31, 2024, Equinix had $7.5 billion in available liquidity, with total debt around $17.6 billion and a net leverage ratio of 3.4 [7] Dividend and Guidance - Equinix's board announced a quarterly cash dividend of $4.69 per share, reflecting a 10% increase over the previous quarter [8] - For Q1 2025, the company projects revenues between $2.19 billion and $2.23 billion, indicating a 1-3% decrease from the prior quarter, with adjusted EBITDA expected in the range of $1.01 billion to $1.05 billion [9][10]

Financial Data and Key Metrics Changes - Full year revenues reached $8.7 billion, an 8% increase year-over-year, marking 22 consecutive years of quarterly revenue growth [9] - Adjusted EBITDA was $4.1 billion, reflecting a 160 basis point improvement in margins year-over-year [10] - AFFO per share grew by 10% year-over-year, indicating strong performance at the top end of long-term expectations [10] - Q4 revenues were $2.261 billion, up 7% year-over-year, with adjusted EBITDA of $1.021 billion, approximately 45% of revenues, up 9% year-over-year [42] Business Line Data and Key Metrics Changes - The xScale business leased approximately 150 megawatts of capacity in 2024, nearly tripling the investment capital of the program [13] - Interconnection revenue increased by 9% year-over-year, now representing 19% of recurring revenues [27] - The channel program contributed nearly 30% of bookings and over 50% of new logos for the year [12] Market Data and Key Metrics Changes - APAC was the fastest-growing region at 13%, followed by the Americas at 8%, while EMEA grew by 2% year-over-year [45] - The Americas region achieved quarterly revenues exceeding $1 billion for the first time, with strong sales in Denver, Montreal, and Santiago [46] - The Asia-Pacific region saw record gross bookings, particularly in Osaka and Tokyo, driven by significant AI deployments [48] Company Strategy and Development Direction - The company aims to simplify the path for customers to consume digital infrastructure, focusing on three strategic moves: serve better, solve smarter, and build bolder [17] - Plans to build larger data centers in fewer phases to accommodate full product continuum and respond to evolving market dynamics, particularly related to generative AI [22] - The decision to end the sale of Equinix Metal to concentrate on core interconnection solutions [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the market opportunity, particularly in AI, which is seen as a secular demand driver for the business [15] - The company anticipates continued innovation in both training and inference workloads, with expectations that 80% of business applications will incorporate AI within three years [67] - Management highlighted the importance of interconnection density as a key value proposition in a multi-cloud environment [69] Other Important Information - The company recorded a $160 million impairment charge related to the end-of-sale of the metal product offering and a $73 million impairment charge for the Hong Kong 4 asset [39][40] - Capital expenditures for the quarter were approximately $1 billion, with plans for continued investment in major projects across various regions [51] Q&A Session Summary Question: Insights on AI and inference - Management noted a step-change in compute efficiency and expects continued innovation in AI, which will drive demand for their services [66][70] Question: Update on U.S. xScale JV - Management confirmed that 87% of xScale projects under construction have been presold or pre-leased, indicating strong momentum [72] Question: Forward pipeline and bookings momentum - Management highlighted record gross bookings in Q4 and noted strong demand for larger footprint capabilities in non-Tier 1 metros [81] Question: Current expectations for churn - Management expects churn to remain within the 2% to 2.5% range for 2025, with strategies in place to manage and reduce churn [90] Question: Power management in older IBXs - Management stated that they effectively manage power draw within existing service agreements and have not encountered issues affecting SLAs [94] Question: Expectations for 2025 expenses - Management indicated that operational improvements and investments in matrix will contribute to profitability, with a focus on efficiency initiatives [106]

Core Insights - Equinix reported revenue of $2.26 billion for the quarter ended December 2024, reflecting a year-over-year increase of 7.1% [1] - The earnings per share (EPS) for the quarter was $7.92, significantly higher than the $2.40 reported in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate by 0.79%, while the EPS also missed the consensus estimate by 2.10% [1] Financial Performance Metrics - Equinix's shares have returned +5.1% over the past month, outperforming the Zacks S&P 500 composite's +4.3% change [3] - The company holds a Zacks Rank 4 (Sell), indicating potential underperformance compared to the broader market in the near term [3] Geographic Revenue Breakdown - EMEA revenue was reported at $776 million, slightly below the average estimate of $781.54 million, with a year-over-year change of +3.3% [4] - Americas revenue was $999 million, compared to the estimated $1 billion, representing a +7.2% year-over-year change [4] - Asia-Pacific revenue was $486 million, below the average estimate of $497.64 million, with a year-over-year increase of +13.7% [4] Capacity and Utilization Metrics - Worldwide Cabinet Equivalent Capacity was reported at 371,400, slightly below the average estimate of 372,450 [4] - The Americas utilization rate was 81%, exceeding the average estimate of 79.9% [4] Revenue Composition - Non-recurring revenues totaled $170 million, surpassing the average estimate of $154.68 million, with a year-over-year increase of +26.4% [4] - Recurring revenues were reported at $2.09 billion, slightly below the estimated $2.12 billion, with a +5.8% year-over-year change [4] - Managed infrastructure recurring revenues were $115 million, below the average estimate of $122.16 million, showing a -0.2% change year-over-year [4] - Colocation recurring revenues were $1.55 billion, slightly below the estimated $1.56 billion, with a +5.4% year-over-year change [4]

Core Insights - Equinix reported quarterly funds from operations (FFO) of $7.92 per share, missing the Zacks Consensus Estimate of $8.09 per share, but showing an increase from $7.30 per share a year ago, resulting in an FFO surprise of -2.10% [1] - The company posted revenues of $2.26 billion for the quarter ended December 2024, which was below the Zacks Consensus Estimate by 0.79%, compared to $2.11 billion in the same quarter last year [2] - Equinix has surpassed consensus FFO estimates three times over the last four quarters, but has only topped revenue estimates once in the same period [2] Financial Performance - The current consensus FFO estimate for the upcoming quarter is $9.44 on revenues of $2.29 billion, while the estimate for the current fiscal year is $38.30 on revenues of $9.51 billion [7] - Equinix shares have increased by approximately 0.1% since the beginning of the year, underperforming the S&P 500, which has gained 3.2% [3] Market Outlook - The estimate revisions trend for Equinix is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The REIT and Equity Trust - Retail industry, to which Equinix belongs, is currently in the top 33% of Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]

Core Insights - Equinix reported steady growth in Q4 2024, with a revenue of $2.26 billion, reflecting a 7.1% year-over-year increase despite a minor shortfall from projections [2][6] - The company forecasts continued growth for 2025, estimating a revenue increase of 3% to 4% on a reported basis, or 7% to 8% when adjusted for currency effects [9] Financial Performance - Q4 2024 EPS was a loss of $0.14 per share, significantly below the estimate of $2.67, marking a 105% decline year-over-year [3] - Adjusted EBITDA margin improved to 45%, up from 44% in the same period last year, indicating enhanced operational efficiency [2][3] - AFFO per share increased by 8.5% to $7.92, demonstrating solid cash flow generation [3][7] Business Overview - Equinix operates 268 data centers globally, focusing on expanding its footprint and enhancing interconnection services [4] - The company is prioritizing strategic expansions and innovations, particularly in AI-driven workloads and advanced interconnection services [5] Quarterly Highlights - Interconnection services revenue grew by 9%, supporting the trend towards enhanced digital interconnectivity [6] - Total revenue for the year reached $8.748 billion, reflecting steady demand despite a slight revenue miss compared to guidance [6] Strategic Initiatives - Equinix is undertaking 62 major projects globally, including 16 xScale developments aimed at enhancing AI and hyperscale offerings [8] - The company continues to declare consistent dividends, maintaining its trend of shareholder returns [8] Future Outlook - Management plans to improve adjusted EBITDA margins by 190 basis points in 2025, with a focus on AI-related infrastructure and sustainability programs [9]

Financial Performance - Equinix reported a significant increase in revenue, reaching $7.5 billion for the fiscal year, representing a 10% year-over-year growth[18] - The company anticipates a 5% increase in adjusted EBITDA for the next fiscal year, driven by ongoing demand for digital infrastructure[22] - The company has incurred substantial losses in the past and may continue to do so in the future, impacting overall financial performance[26] - The company’s results of operations may fluctuate significantly, impacting overall financial stability[26] Customer Demand and Services - The company experienced a 15% increase in customer interconnection services, highlighting strong demand for its data center offerings[18] - The company continues to invest in expansion efforts but may not achieve sufficient customer demand to realize expected returns on these investments[26] Expansion Plans - Equinix plans to expand its global footprint by opening 10 new International Business Exchange (IBX) data centers in key markets over the next two years[22] - The company is exploring strategic acquisitions to enhance its service offerings and market position[22] Operational Efficiency and Investments - The company is investing approximately $500 million in enhancing its back-office information technology systems to improve operational efficiency[22] - Equinix's cybersecurity measures are under continuous review following past incidents, with increased investments planned to mitigate future risks[22] Debt and Financial Risks - Equinix's total debt stands at $12 billion, which may impact its cash flow and flexibility for future capital raises[22] - The company’s substantial debt could adversely affect cash flows and limit flexibility to raise additional capital[26] - The company faces significant risks related to its capital needs and strategy, including potential interruptions in internet connectivity to its IBX data centers, which could adversely affect operations and cash flow[26] Regulatory and Environmental Challenges - Environmental regulations may impose new or unexpected costs on the company, impacting financial performance[27] - The company may fail to achieve its sustainability objectives, which could adversely affect public perception and relationships with stakeholders[27] - The company’s qualification as a real estate investment trust (REIT) is at risk, which could expose it to substantial corporate income tax and materially affect its financial condition[27] Geopolitical and Market Challenges - The company has faced challenges due to geopolitical tensions, which could affect its operations and financial condition[22] - The anticipated benefits of joint ventures may not be fully realized or may take longer than expected, posing risks to financial and strategic goals[26] - The company is subject to revenue risks associated with government customers, including early termination and audits, which could materially affect results[26]

[Executive Summary & Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Highlights) [Fourth-Quarter and Full-Year 2024 Performance Overview](index=1&type=section&id=Fourth-Quarter%20and%20Full-Year%202024%20Performance%20Overview) Equinix reported strong Q4 and full-year 2024 results, achieving $8.7 billion revenue with 8% growth and record bookings - Equinix's full-year revenues increased **8% year-over-year** on a normalized and constant-currency basis[2](index=2&type=chunk)[3](index=3&type=chunk) - The company achieved **22 consecutive quarters of revenue growth** and **record-breaking gross bookings** in Q4 and full year[2](index=2&type=chunk) - Equinix increased its quarterly cash dividend by **10% to $4.69 per share**, marking the 10th consecutive year of increase[3](index=3&type=chunk) [Key Financial Highlights (2024)](index=2&type=section&id=Key%20Financial%20Highlights%20%282024%29) Equinix's 2024 revenues reached $8.748 billion, operating income decreased 8%, and Adjusted EBITDA grew 160 bps to $4.097 billion | Metric | FY 2024 (Millions USD) | YoY Change (As-Reported) | YoY Change (Normalized & Constant-Currency) | | :------------------------------------------------ | :--------------------- | :----------------------- | :--------------------------------------- | | Revenues | $8,748 | +7% | +8% | | Operating Income | $1,328 | -8% | N/A | | Net Income Attributable to Common Stockholders | $815 | -16% | N/A | | Net Income per Share Attributable to Common Stockholders | $8.50 | -18% | N/A | | Adjusted EBITDA | $4,097 | N/A | N/A | | Adjusted EBITDA Margin | 47% | +160 bps | N/A | | AFFO | $3,356 | +11% | +12% | | AFFO per Share | $35.02 | +9% | +10% | - Operating Income and Net Income were impacted by **$314 million of non-recurring charges** related to asset impairments, restructuring, and transaction costs[7](index=7&type=chunk) [2025 Annual Guidance Snapshot](index=2&type=section&id=2025%20Annual%20Guidance%20Snapshot) Equinix projects 2025 revenues of $9.033-$9.133 billion (7-8% growth), Adjusted EBITDA of $4.386-$4.466 billion (49% margin) | Metric | FY 2025 Guidance (Millions USD) | YoY Change (As-Reported) | YoY Change (Normalized & Constant-Currency) | | :------------------------------------------------ | :----------------------------- | :----------------------- | :--------------------------------------- | | Revenues | $9,033 - $9,133 | +3% to +4% | +7% to +8% | | Adjusted EBITDA | $4,386 - $4,466 | N/A | N/A | | Adjusted EBITDA Margin | 49% | +190 bps | N/A | | AFFO | $3,606 - $3,686 | +7% to +10% | +9% to +12% | | AFFO per Share | $36.69 - $37.51 | +5% to +7% | +7% to +9% | [Business Highlights & Strategic Initiatives](index=3&type=section&id=Business%20Highlights%20%26%20Strategic%20Initiatives) [AI Infrastructure Leadership & Demand](index=3&type=section&id=AI%20Infrastructure%20Leadership%20%26%20Demand) Equinix leads in private AI infrastructure, with Q4 deals focused on AI, strong xScale demand, and a new private AI solution - Equinix is a leader in private AI infrastructure, with over half of Q4's top 25 retail deals focused on **high-performance compute and AI workloads**[11](index=11&type=chunk) - The global xScale portfolio saw robust demand, leasing an incremental **31 megawatts in Q4**, totaling over 400 megawatts globally[11](index=11&type=chunk) - Equinix announced a private AI solution in December, utilizing the Dell AI Factory with NVIDIA, for scalable, secure, and low-latency AI model training and deployment[11](index=11&type=chunk) [Global Expansion & Data Center Footprint](index=3&type=section&id=Global%20Expansion%20%26%20Data%20Center%20Footprint) Equinix expands its global data center footprint with 62 projects, including 16 xScale, and a major U.S. xScale joint venture - Two-thirds of Equinix's recurring revenues come from customers deploying in more than **10 IBX data centers**[11](index=11&type=chunk) - Currently, **62 major projects** are underway in 36 markets across 25 countries, including 16 xScale projects, to add ~34,000 cabinets and >165 megawatts by end of 2026[11](index=11&type=chunk) - Equinix plans to nearly triple capital invested in its xScale portfolio with a **>$15 billion joint venture** with CPP Investments and GIC for new U.S. facilities[12](index=12&type=chunk) - New data center builds include Singapore 6 (**20 megawatts for AI**) and the first IBX data center in Jakarta, Indonesia[12](index=12&type=chunk) [Interconnection Growth](index=4&type=section&id=Interconnection%20Growth) Equinix's global interconnection franchise grew to over 482,000, with revenues up 9% year-over-year, supporting hybrid multi-cloud architectures - Global interconnection franchise reached over **482,000 total interconnections**, adding 6,000 in Q4 2024[12](index=12&type=chunk) - Interconnection revenues increased **9% year-over-year** (as-reported and normalized/constant-currency), accounting for 19% of recurring revenue[12](index=12&type=chunk) - Equinix Fabric supports quick setup and flexible management of connections across hybrid multi-cloud architectures with **25 and 50 gigabit per second circuits**[12](index=12&type=chunk) [Sustainability Initiatives](index=4&type=section&id=Sustainability%20Initiatives) Equinix commits to sustainability, improving PUE by over 6%, achieving CDP's 'Climate Change A List,' and issuing €1.15 billion in green bonds - Equinix improved its Power Usage Effectiveness (PUE) by **over 6% in 2024**[12](index=12&type=chunk) - Achieved the highest ranking on CDP's **'Climate Change A List'** for the third consecutive year and received its first MSCI **'AAA-rating'**[12](index=12&type=chunk) - Issued an additional **€1.15 billion in green bonds** in Q4, totaling approximately $6.9 billion, making it a top five U.S. issuer in the investment-grade green bond market[12](index=12&type=chunk) [Financial Performance (GAAP)](index=12&type=section&id=Financial%20Performance%20%28GAAP%29) [Condensed Consolidated Statements of Operations](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Equinix's 2024 revenues reached $8.748 billion, but operating income decreased 8% to $1.328 billion due to non-recurring charges | Metric (Millions USD, except EPS) | FY 2024 | FY 2023 | YoY Change | | :-------------------------------- | :------ | :------ | :--------- | | Revenues | $8,748 | $8,188 | +6.8% | | Cost of revenues | $4,467 | $4,228 | +5.6% | | Gross profit | $4,281 | $3,960 | +8.1% | | Total operating expenses | $2,953 | $2,517 | +17.3% | | Income from operations | $1,328 | $1,443 | -8.0% | | Net income (loss) | $814 | $969 | -16.0% | | Net income (loss) attributable to common stockholders | $815 | $969 | -15.9% | | Diluted EPS | $8.50 | $10.31 | -17.5% | - Operating expenses in 2024 included **$31 million in restructuring charges**, **$50 million in transaction costs**, and **$233 million in impairment charges**, significantly impacting operating income and net income[40](index=40&type=chunk) [Condensed Consolidated Statements of Comprehensive Income](index=13&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Equinix reported $814 million net income in 2024, but a $(445) million comprehensive loss, mainly from foreign currency, significantly reduced total comprehensive income | Metric (Millions USD) | FY 2024 | FY 2023 | YoY Change | | :------------------------------------------------ | :------ | :------ | :--------- | | Net income (loss) | $814 | $969 | -16.0% | | Foreign currency translation adjustment (CTA) gain (loss) | $(772) | $250 | -408.8% | | Net investment hedge CTA gain (loss) | $295 | $(132) | +323.5% | | Unrealized gain (loss) on cash flow hedges | $32 | $(19) | +268.4% | | Total other comprehensive income (loss), net of tax | $(445) | $99 | -549.5% | | Comprehensive income (loss) attributable to common stockholders | $370 | $1,068 | -65.3% | [Condensed Consolidated Balance Sheets](index=14&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of Dec 31, 2024, total assets increased to $35.085 billion, driven by cash and PPE, with liabilities rising to $21.533 billion from senior notes | Metric (Millions USD) | Dec 31, 2024 | Dec 31, 2023 | YoY Change | | :------------------------------------ | :----------- | :----------- | :--------- | | Cash and cash equivalents | $3,081 | $2,096 | +46.9% | | Total current assets | $5,447 | $3,568 | +52.7% | | Property, plant and equipment, net | $19,249 | $18,601 | +3.5% | | Total assets | $35,085 | $32,651 | +7.5% | | Total current liabilities | $3,349 | $3,162 | +5.9% | | Senior notes, less current portion | $13,363 | $12,062 | +10.8% | | Total liabilities | $21,533 | $20,137 | +6.9% | | Total common stockholders' equity | $13,528 | $12,489 | +8.3% | | Total headcount | 13,606 | 13,151 | +3.5% | [Summary of Debt Principal Outstanding](index=15&type=section&id=Summary%20of%20Debt%20Principal%20Outstanding) As of Dec 31, 2024, total debt principal outstanding increased to $17.609 billion, primarily due to a rise in senior notes to $14.562 billion | Debt Type (Millions USD) | Dec 31, 2024 | Dec 31, 2023 | YoY Change | | :----------------------------- | :----------- | :----------- | :--------- | | Finance lease liabilities | $2,275 | $2,261 | +0.6% | | Term loans | $628 | $642 | -2.1% | | Mortgage payable and other loans payable | $21 | $29 | -27.6% | | Senior notes | $14,562 | $13,060 | +11.5% | | Total debt principal outstanding | $17,609 | $16,101 | +9.4% | [Condensed Consolidated Statements of Cash Flows](index=16&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was $3.249 billion in 2024, investing used $(3.937) billion, financing provided $1.723 billion, resulting in $(601) million free cash flow | Metric (Millions USD) | FY 2024 | FY 2023 | YoY Change | | :------------------------------------------ | :------ | :------ | :--------- | | Net cash provided by operating activities | $3,249 | $3,217 | +1.0% | | Net cash used in investing activities | $(3,937) | $(3,224) | +22.1% | | Net cash provided by (used in) financing activities | $1,723 | $211 | +716.6% | | Net increase (decrease) in cash, cash equivalents, and restricted cash | $986 | $188 | +424.5% | | Cash, cash equivalents and restricted cash at end of period | $3,082 | $2,096 | +47.0% | | Free cash flow | $(601) | $129 | -566.0% | | Adjusted free cash flow | $(264) | $513 | -151.5% | - Purchases of property, plant and equipment increased to **$3,066 million in 2024** from $2,781 million in 2023[48](index=48&type=chunk) - Proceeds from senior notes, net of debt discounts, were **$2,768 million in 2024**, significantly higher than $902 million in 2023[49](index=49&type=chunk) [Non-GAAP Financial Measures & Reconciliations](index=7&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) [Explanation of Non-GAAP Measures](index=7&type=section&id=Explanation%20of%20Non-GAAP%20Measures) Equinix uses non-GAAP measures (Adjusted EBITDA, FFO, AFFO) to clarify ongoing operating results, excluding non-cash or non-core items - Non-GAAP measures (e.g., Adjusted EBITDA, FFO, AFFO) are used to evaluate operations, as GAAP measures alone may be difficult to interpret for ongoing results[24](index=24&type=chunk) - Adjusted EBITDA excludes income tax, interest, depreciation, amortization, stock-based compensation, restructuring, impairment, and transaction costs, among others[26](index=26&type=chunk)[27](index=27&type=chunk)[29](index=29&type=chunk) - FFO and AFFO are supplemental performance measures commonly used in the REIT industry, with AFFO further adjusting FFO for non-real estate depreciation, recurring capital expenditures, and other non-cash items[30](index=30&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) [Adjusted EBITDA and Margins](index=18&type=section&id=Adjusted%20EBITDA%20and%20Margins) Equinix's 2024 Adjusted EBITDA was $4.097 billion (47% margin), up from $3.702 billion, with a strong 71% flow-through rate | Metric (Millions USD, except %) | FY 2024 | FY 2023 | YoY Change | | :------------------------------------ | :------ | :------ | :--------- | | Adjusted EBITDA | $4,097 | $3,702 | +10.7% | | Adjusted EBITDA Margins | 47% | 45% | +200 bps | | Adjusted EBITDA flow-through rate | 71% | 36% | +3500 bps | | Americas Adjusted EBITDA | $1,709 | $1,614 | +5.9% | | EMEA Adjusted EBITDA | $1,378 | $1,251 | +10.2% | | Asia-Pacific Adjusted EBITDA | $1,010 | $837 | +20.7% | | Region | FY 2024 Adjusted EBITDA Margins | | :------------- | :------------------------------ | | Americas | 44% | | EMEA | 46% | | Asia-Pacific | 53% | [Funds From Operations (FFO) and Adjusted Funds From Operations (AFFO)](index=18&type=section&id=Funds%20From%20Operations%20%28FFO%29%20and%20Adjusted%20Funds%20From%20Operations%20%28AFFO%29) FFO decreased to $2.061 billion in 2024, while AFFO increased 11.2% to $3.356 billion, with diluted AFFO per share at $35.02 | Metric (Millions USD, except per share) | FY 2024 | FY 2023 | YoY Change | | :-------------------------------------- | :------ | :------ | :--------- | | FFO attributable to common stockholders | $2,061 | $2,130 | -3.2% | | Diluted FFO per share | $21.51 | $22.66 | -5.1% | | AFFO attributable to common stockholders | $3,356 | $3,019 | +11.2% | | Diluted AFFO per share | $35.02 | $32.11 | +9.1% | [Geographic Revenue and Cost Breakdown](index=19&type=section&id=Geographic%20Revenue%20and%20Cost%20Breakdown) Worldwide revenues totaled $8.748 billion in 2024, with Colocation as the largest segment, and regional cash gross margins varying | Service Type (Millions USD) | FY 2024 Worldwide Revenues | FY 2023 Worldwide Revenues | YoY Change | | :-------------------------- | :------------------------- | :------------------------- | :--------- | | Colocation | $6,058 | $5,765 | +5.1% | | Interconnection | $1,519 | $1,395 | +8.9% | | Managed infrastructure | $467 | $452 | +3.3% | | Other | $140 | $133 | +5.3% | | Recurring revenues | $8,184 | $7,745 | +5.7% | | Non-recurring revenues | $564 | $443 | +27.3% | | Total Revenues | $8,748 | $8,188 | +6.8% | | Region (Millions USD) | FY 2024 Revenues | FY 2023 Revenues | YoY Change | | :-------------------- | :--------------- | :--------------- | :--------- | | Americas | $3,862 | $3,617 | +6.8% | | EMEA | $2,967 | $2,838 | +4.5% | | Asia-Pacific | $1,919 | $1,733 | +10.7% | | Region | FY 2024 Cash Gross Margins | FY 2023 Cash Gross Margins | | :------------- | :------------------------- | :------------------------- | | Americas | 70% | 71% | | EMEA | 60% | 58% | | Asia-Pacific | 67% | 64% | | Worldwide | 66% | 65% | [Business Outlook & Guidance](index=5&type=section&id=Business%20Outlook%20%26%20Guidance) [First Quarter 2025 Outlook](index=5&type=section&id=First%20Quarter%202025%20Outlook) Equinix anticipates Q1 2025 revenues of $2.191-$2.231 billion, flat on a normalized basis, with Adjusted EBITDA of $1.011-$1.051 billion | Metric (Millions USD) | Q1 2025 Guidance | | :-------------------------- | :--------------- | | Revenues | $2,191 - $2,231 | | Adjusted EBITDA | $1,011 - $1,051 | | Recurring Capital Expenditures | $24 - $47 | - Q1 2025 revenue guidance includes a **$28 million step-up from recurring revenues**, offset by lower sequential non-recurring revenues and a **$38 million negative foreign currency impact**[13](index=13&type=chunk) - Adjusted EBITDA guidance includes **$25 million of higher seasonal costs** and a **$20 million negative foreign currency impact**[13](index=13&type=chunk) [Full-Year 2025 Outlook](index=5&type=section&id=Full-Year%202025%20Outlook) Equinix projects full-year 2025 revenues of $9.033-$9.133 billion (7-8% growth), Adjusted EBITDA of $4.386-$4.466 billion (49% margin) | Metric (Millions USD, except per share) | FY 2025 Guidance | | :-------------------------------------- | :--------------- | | Total Revenues | $9,033 - $9,133 | | Adjusted EBITDA | $4,386 - $4,466 | | Adjusted EBITDA Margin | 49% | | AFFO | $3,606 - $3,686 | | AFFO per Share | $36.69 - $37.51 | | Total Capital Expenditures | $3,222 - $3,472 | | Non-recurring Capital Expenditures | $2,985 - $3,215 | | Recurring Capital Expenditures | $237 - $257 | - Full-year 2025 guidance includes a **$252 million negative foreign currency impact on revenues** and a **$139 million negative impact on Adjusted EBITDA** compared to prior guidance rates[14](index=14&type=chunk) - Adjusted EBITDA margin is expected to improve by **190 basis points year-over-year** due to operating leverage and power pass-through[14](index=14&type=chunk) [Foreign Currency Exchange Rate Assumptions](index=5&type=section&id=Foreign%20Currency%20Exchange%20Rate%20Assumptions) Equinix's 2025 guidance incorporates updated U.S. dollar exchange rates for key currencies, with Euro, British Pound, and Singapore Dollar as major revenue contributors | Currency | 2025 Guidance Exchange Rate (USD) | | :--------------- | :------------------------------ | | Euro | $1.07 | | British Pound | $1.27 | | Singapore Dollar | S$1.37 to the U.S. Dollar | | Japanese Yen | ¥157 to the U.S. Dollar | | Australian Dollar | A$1.62 to the U.S. Dollar | | Hong Kong Dollar | HK$7.77 to the U.S. Dollar | | Brazilian Real | R$6.17 to the U.S. Dollar | | Canadian Dollar | C$1.44 to the U.S. Dollar | | Currency | Q4 2024 Global Revenue Breakdown | | :--------------- | :----------------------------- | | Euro | 20% | | British Pound | 10% | | Singapore Dollar | 9% | | Japanese Yen | 5% | | Australian Dollar | 4% | | Hong Kong Dollar | 3% | | Brazilian Real | 2% | | Canadian Dollar | 2% | [Additional Information](index=6&type=section&id=Additional%20Information) [Conference Call and Investor Resources](index=6&type=section&id=Conference%20Call%20and%20Investor%20Resources) Equinix held a conference call on Feb 12, 2025, to discuss Q4 2024 results and outlook, with webcast replay and supplemental materials available - Equinix discussed Q4 2024 results and future outlook on a conference call on **February 12, 2025**, with a live webcast and replay available[18](index=18&type=chunk)[19](index=19&type=chunk) - An investor presentation and supplemental financial information are available on the Equinix Investor Relations website[20](index=20&type=chunk) [About Equinix](index=6&type=section&id=About%20Equinix) Equinix is the world's digital infrastructure company, providing a trusted platform for digital leaders to interconnect foundational infrastructure - Equinix is the world's digital infrastructure company, enabling digital leaders to interconnect foundational infrastructure at software speed[22](index=22&type=chunk) - The company helps organizations scale with agility, speed digital service launches, deliver world-class experiences, and achieve sustainability goals[22](index=22&type=chunk) [Forward-Looking Statements and Risk Factors](index=11&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) Forward-looking statements involve risks and uncertainties, including inflation, foreign currency, power costs, and acquisition challenges, as detailed in SEC filings - Forward-looking statements involve risks and uncertainties, and actual results may differ materially from expectations[37](index=37&type=chunk) - Risks include inflation, foreign currency fluctuations, power availability and costs, challenges in data center operations and construction, acquisition integration difficulties, competition, and REIT taxation risks[37](index=37&type=chunk) - Investors should refer to Equinix's SEC filings for a comprehensive description of risk factors[37](index=37&type=chunk)

Group 1 - Equinix, Inc. announced a quarterly cash dividend of $4.69 per share, representing a 10% increase from the previous quarter [1] - The dividend will be paid on March 19, 2025, to shareholders of record on February 26, 2025 [1] Group 2 - Equinix is recognized as the world's digital infrastructure company, enabling organizations to interconnect foundational infrastructure at software speed [2] - The company supports digital leaders in scaling with agility, launching digital services quickly, and achieving sustainability goals [2]

REDWOOD CITY, Calif., Feb. 12, 2025 /PRNewswire/ -- Increased annual revenues 7% on an as-reported basis or 8% on a normalized and constant-currency basis, excluding the impact of power pass-through Drove significant operating leverage, creating continued value for shareholders Increased quarterly cash dividend by 10% to $4.69 per share on its common stock, a 10th consecutive year of increase, based on continued strong operating performanceEquinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure com ...

PHILADELPHIA, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ:OLPX): Grabar Law Office is investigating claims on behalf of shareholders of Olaplex Holdings, Inc. (NASDAQ:OLPX). The investigation concerns whether certain officers of Olaplex breached the fiduciary duties they owed to the Company. Current shareholders who acquired Olaplex shares on or near the September 29, 2021 IPO, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court a ...