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Dec 31, 2020
Equinix Q4 2020 Earnings Report
Equinix demonstrated resilience and growth amidst challenges, expanded its platform, and delivered its 18th year of consecutive quarterly revenue growth.
Key Takeaways
Equinix reported Q4 2020 results, with annual revenues increasing by 8% year-over-year to approximately $6 billion. The company delivered record channel bookings and continued to expand its platform with multiple projects underway.
2020 annual revenues increased 8% year-over-year on both an as-reported and normalized and constant currency basis to approximately $6 billion.
Delivered record channel bookings in Q4, accounting for more than 35% of total bookings
Continues to expand platform, building across 44 projects in 30 markets and 20 countries
In Q4, Equinix completed the formation of another greater than US$1.0 billion joint venture in the form of a limited liability partnership with GIC, Singapore's sovereign wealth fund, to develop and operate xScaleTM data centers in Japan.
Equinix
Equinix
Equinix Revenue by Geographic Location
Revenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia-Pacific Revenue
CapyFin.com Forward Guidance
For the first quarter of 2021, Equinix expects revenues to range between $1.587 and $1.607 billion, an increase of 2% quarter-over-quarter at the midpoint or approximately 1% on a normalized and constant currency basis, including a step-down in non-recurring revenue due to timing of customer installations.
Positive Outlook
- Revenues to range between $1.587 and $1.607 billion
- Increase of 2% quarter-over-quarter at the midpoint
- Approximately 1% increase on a normalized and constant currency basis
- Includes a foreign currency benefit of $17 million when compared to the average FX rates in Q4 2020
- Adjusted EBITDA includes $9 million of integration costs related to acquisitions.
Challenges Ahead
- Includes a step-down in non-recurring revenue due to timing of customer installations.
- Adjusted EBITDA is expected to range between $737 and $757 million
- Higher seasonal salary and benefit costs of $14 million attributed to the FICA reset.
- Recurring capital expenditures are expected to range between $17 and $27 million.
- Full impact of COVID-19 pandemic on the company's financial condition or results of operations remains uncertain
Revenue & Expenses
Visualization of income flow from segment revenue to net income