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Equinix is the largest data center company globally, focusing on retail data center operations with a strong emphasis on recurring revenue streams . The company specializes in colocation, interconnection, and managed infrastructure solutions, which together account for more than 90% of its total revenues . Equinix's revenue is geographically segmented into the Americas, EMEA (Europe, the Middle East, and Africa), and Asia-Pacific regions, with additional non-recurring revenue activities such as installation and professional services contributing less than 10% of total revenues . The company is also expanding its digital services portfolio, including multi-cloud networking and cloud-adjacent storage, to complement its core data center offerings .
- Colocation Services - Provides licensing of cabinet space and power, forming a substantial part of Equinix's recurring revenue model.
- Interconnection Services - Facilitates connections between different networks and data centers, enhancing network efficiency and performance.
- Managed Infrastructure Solutions - Offers comprehensive infrastructure management services to support clients' IT operations.
- Digital Services - Expands offerings with multi-cloud networking and cloud-adjacent storage solutions to enhance data center capabilities.
- Non-Recurring Revenue Activities - Includes installation services and professional services, contributing a smaller portion of the overall revenue.
Name | Position | External Roles | Short Bio | |
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Charles Meyers ExecutiveBoard | Executive Chairman | Board Member at Fastly | Charles Meyers transitioned to Executive Chairman in late Q2 2024 after serving as CEO since 2018. He has extensive experience in digital infrastructure and public company M&A. | |
Adaire Fox-Martin Executive | President and CEO | None | Adaire Fox-Martin became CEO in June 2024, succeeding Charles Meyers. She previously held senior roles at Google Cloud and SAP, with expertise in global sales and customer success. | View Report → |
Brandi Galvin Morandi Executive | Chief Legal and Human Resources Officer | None | Brandi Galvin Morandi joined Equinix in 2003 and has served as Chief Legal and HR Officer since 2019. She integrates legal and HR functions to enhance organizational efficiency. | |
Jon Lin Executive | EVP and GM, Data Center Services | None | Jon Lin joined Equinix in 2009 and has been EVP and GM of Data Center Services since 2021. He previously served as President of Equinix Americas. | |
Keith Taylor Executive | Chief Financial Officer | None | Keith Taylor has been CFO since 2005 and joined Equinix in 1999. He previously served as VP of Finance and Chief Accounting Officer. | |
Merrie Williamson Executive | EVP and Chief Customer and Revenue Officer (CCRO) | None | Merrie Williamson joined Equinix in February 2024 as CCRO. She previously held senior roles at Microsoft and Intel, focusing on digital transformation and customer experience. | |
Mike Campbell Executive | Chief Sales Officer | None | Mike Campbell has been Chief Sales Officer since 2016. He joined Equinix in 2015 as SVP of Sales for the Americas and previously held senior roles at Symantec and Verisign. | |
Christopher Paisley Board | Lead Independent Director | Board Member at Ambarella and Fastly | Christopher Paisley has been Lead Independent Director since 2012. He is a professor of accounting and has extensive experience in finance, risk management, and public company M&A. | |
Fidelma Russo Board | Independent Director | Board Member at SBA Communications | Fidelma Russo joined the Equinix Board in June 2022. She is the CTO of HPE and has over 30 years of experience in cloud services, machine learning, and digital transformation. | |
Gary Hromadko Board | Independent Director | None | Gary Hromadko has been an Independent Director since 2003. He is a private investor with expertise in digital infrastructure and capital markets. | |
Jeetu Patel Board | Independent Director | EVP and GM at Cisco; Board Member at JLL | Jeetu Patel joined the Equinix Board in June 2022. He brings expertise in SaaS applications, digital transformation, and platform strategies from his leadership roles at Cisco. | |
Nanci Caldwell Board | Independent Director | Board Member at CIBC and Procore | Nanci Caldwell has been an Independent Director since 2015. She brings expertise in enterprise sales, marketing, and governance from her executive roles at PeopleSoft and HP. | |
Peter Van Camp Board | Special Advisor to the Board | None | Peter Van Camp stepped down as Executive Chairman in Q2 2024 and now serves as Special Advisor. He has been with Equinix since 2000 and was instrumental in its growth and M&A strategy. | |
Sandra Rivera Board | Independent Director | CEO of Altera (Intel) | Sandra Rivera has been an Independent Director since 2019. She has extensive experience in network infrastructure, AI, and cloud from her leadership roles at Intel. | |
Thomas Olinger Board | Independent Director | Board Member at American Assets Trust | Thomas Olinger joined the Equinix Board in January 2023. He is the former CFO of Prologis and has expertise in REITs, capital markets, and ESG initiatives. |
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Given the ongoing DOJ and SEC investigations, can you provide an update on their status, and have any internal or external reporting changes been made in response to these inquiries?
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With the increasing power density of cabinets leading to a differential between cabinets being churned and those being added, do you view this as a structural trend that could represent a growing headwind to cabinet growth numbers in future quarters?
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Considering the shift towards higher density cabinets and the impact on metrics like net cabinets billed and MRR per cabinet, are you planning to adjust how you measure and report these key performance indicators to better reflect business realities?
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You mentioned a focus on simplification and amplifying your go-to-market efforts; can you expand on specific areas where you see opportunities for simplification, and what changes might we expect to see in your processes or organizational structure?
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As AI workloads become more significant, particularly in terms of infrastructure demands for training and inference, how is Equinix positioning itself to capitalize on these opportunities, and what investments or strategic initiatives are you undertaking to address this market?
Notable M&A activity and strategic investments in the past 3 years.
Company | Year | Details |
---|---|---|
Total Information Management (TIM) | 2024 | Equinix is set to acquire three data centers in the Philippines for approximately $180 million, subject to adjustments, marking its planned entry into Southeast Asia with over 1,000 cabinets of additional capacity and land for future development, expected to close in Q4 2024. |
Entel Peru | 2022 | Equinix acquired a Peruvian data center for a total consideration of about $80.3 million, supporting its expansion in Latin America; the deal also included customer relationships valued at $10 million, with the facility’s operating results integrated into the Americas portfolio. |
Entel Chile | 2022 | Equinix completed the acquisition of four Santiago-based data centers for $638.3 million, enhancing its Latin American market presence, with the deal delivering significant assets including $153.5 million in customer relationships, approximately 120 transitioning employees, and generating annualized revenues of around $53 million. |
MainOne | 2022 | The MainOne acquisition, completed for $278.4 million, brought four data centers, a subsea cable, and a terrestrial fiber network into Equinix’s portfolio, reinforcing its strategic position in the West African market and resulting in recorded goodwill of over $110 million, with operating results reported in the EMEA region. |
Recent press releases and 8-K filings for EQIX.
- Revised Full-Year Guidance: Targets revenues of $9.175 – $9.275 billion and an adjusted EBITDA margin of 49%
- Q1 2025 Revenue: Achieved approximately $2.225 billion (8% YoY normalized)
- Guidance Increases: Full-year forecasts were raised by $142 million in revenue, $85 million in adjusted EBITDA, and $69 million in AFFO
- Non-GAAP Performance: Reported Adjusted EBITDA of $1.067 billion at a 48% margin and AFFO of $947 million
- Income Highlights: Operating Income rose to $458 million, with Net Income at $343 million and earnings per share of $3.50
- Customer Momentum: Strong demand from significant AI, hyperscale deployments, and continued xScale investments supports a robust pipeline
- Q1 Revenues reached $2.225 billion, marking a 5% YoY increase (8% normalized) with strong bookings and demand.
- The quarter delivered operating income of $458 million, net income of $343 million, and adjusted EBITDA of $1.067 billion (48% margin).
- Revised full-year guidance now targets revenues of $9.175 - $9.275 billion and an adjusted EBITDA margin of 49%, supporting continued global demand.
- Equinix's Board of Directors declared a quarterly cash dividend of $4.69 per share, payable on June 18, 2025 with the record date on May 21, 2025.
- This dual announcement reinforces Equinix’s status as a leading global digital infrastructure company.