Equinix(EQIX) - 2025 Q3 - Earnings Call Presentation

Financial Performance - Record annualized gross bookings reached $394 million, a 25% increase year-over-year and a 14% increase compared to Q2 2025[11, 12] - Monthly recurring revenue (MRR) increased by 8% year-over-year on both an as-reported and normalized constant currency basis[12] - Q3 2025 revenues totaled $2316 million, reflecting a 3% QoQ and 5% YoY growth as-reported[18] - Adjusted EBITDA for Q3 2025 was $1148 million, with a 2% QoQ and 10% YoY increase as-reported[18] - Q3 2025 AFFO reached $965 million, showing a 1% QoQ decrease but an 11% YoY increase as-reported[18] Capacity and Expansion - Total developable capacity grew to approximately 3 GW, a nearly 50% increase from last quarter[15] - Land acquisitions across Amsterdam, Chicago, Johannesburg, London, and Toronto will support over 900 megawatts of retail and xScale capacity at full build-out[12] - The company owns 169 of 273 data centers, and owned assets generate 69% of recurring revenues[73, 51] Guidance - FY 2025 revenue guidance is $9208 - $9328 million[34] - FY 2025 adjusted EBITDA guidance is $4531 - $4611 million, with an approximate 49% margin[34] - Q4 2025 revenue guidance is $2411 - $2531 million[34] - Q4 2025 adjusted EBITDA guidance is $1187 - $1267 million, with a 49-50% margin[34]