EQUINIX (EQIX) Company Report

Equinix and CPP Investments will jointly acquire atNorth—a leading Nordic high-density colocation and built-to-suit data center provider—for a US$4 billion enterprise value, with CPP investing US$1.6 billion (60% stake) and Equinix taking 40%.
The transaction, subject to customary regulatory approvals, is expected to be immediately accretive to Equinix’s adjusted funds from operations per share upon closing.
atNorth’s portfolio comprises 8 operational data centers across Denmark, Finland, Iceland, Norway and Sweden, plus an 800 MW development pipeline and 1 GW of secured future power capacity to meet rising AI and hyperscale demand.
The deal and planned expansion will be funded through a US$4.2 billion financing package underwritten by European and Canadian lenders.

12 hours ago

8-K

Equinix and CPP Investments to acquire atNorth for US$4 billion

EQIX

M&A

New Projects/Investments

CPP Investments and Equinix have entered a joint agreement to acquire atNorth, a leading Nordic high-density colocation and built-to-suit data center provider, for a US$4 billion enterprise value, subject to regulatory approvals.
CPP Investments will invest US$1.6 billion for an approximate 60% controlling interest, while Equinix will own the remaining 40%; the transaction is expected to be immediately accretive to Equinix’s adjusted funds from operations per share.
atNorth operates eight data centers across Denmark, Finland, Iceland, Norway and Sweden, with an 800 MW development pipeline and plans for an additional 1 GW of secured power capacity.
The acquisition is supported by a US$4.2 billion financing package underwritten by European and Canadian lenders to fund both the transaction and atNorth’s planned expansion; it also expands Equinix’s Nordics footprint (currently eight sites) within its global network of over 100 facilities.

17 hours ago

Press Release

Equinix and CPP Investments agree $4B acquisition of atNorth

EQIX

M&A

New Projects/Investments

Equinix and CPP Investments to acquire Nordic data center operator atNorth in a $4 billion enterprise-value transaction; CPP invests $1.6 billion for ~60% stake while Equinix holds ~40%, backed by a $4.2 billion financing package
Deal adds atNorth’s eight data centers across Denmark, Finland, Iceland, Norway and Sweden to Equinix’s existing eight Nordic facilities, with an 800 MW development pipeline and 1 GW secured power capacity
Transaction is expected to be immediately accretive to Equinix’s adjusted funds from operations per share, targeting rising enterprise, hyperscale and AI demand in the Nordics
atNorth will retain its brand and focus on renewable energy sourcing and heat-reuse, with projects at Kouvola, Ølgod and a new Sollefteå mega-site

1 day ago

Bloomberg

Equinix-backed report forecasts Nigeria data center market growth to USD1.09 B by 2031

EQIX

New Projects/Investments

ResearchAndMarkets projects the Nigeria data center market to grow from USD 288 million in 2025 to USD 1.09 billion by 2031, at a CAGR of 24.99%.
Nigeria hosts around 20 third-party colocation facilities, primarily in Lagos, with retail colocation currently leading and wholesale demand driven by increasing cloud adoption.
Major operators include Africa Data Centres, Open Access Data Centres, 21st Century Technologies, Equinix, Digital Realty, and Rack Centre, while new entrants such as Airtel Africa and Kasi Cloud are intensifying competition.
Equinix announced a USD 22 million investment in its LG3 Lagos data center (610 sqm), the first phase of a USD 100 million Africa expansion plan, slated to open in early 2026.

Feb 17, 2026, 9:04 AM

Press Release

Equinix reports Q4 2025 results

EQIX

Earnings

Guidance Update

Q4 2025 revenues of $2.4 billion, up 7% year-over-year; monthly recurring revenue grew 10% in Q4 and 8% for the full year on a normalized, constant-currency basis.
Annualized gross bookings reached $1.6 billion, up 27% YoY; Q4 bookings were $474 million, up 42% YoY and 20% sequentially.
Q4 Adjusted EBITDA was $1.2 billion (49% of revenues, +15% YoY) and Q4 FFO totaled $877 million (+13% YoY).
Net interconnections increased by 7,800 in Q4, surpassing 500,000 total interconnections worldwide, underscoring platform momentum.
2026 guidance: revenue growth of 9–10%, MRR growth 8–10%, Adjusted EBITDA margin ~51%, AFFO per share growth 8–10%, and CapEx of $3.7–4.2 billion.

Feb 11, 2026, 10:30 PM

Transcript

Equinix reports Q4 2025 results

EQIX

Earnings

Guidance Update

Equinix delivered $2.4 billion in Q4 revenues (up 7% YoY), with MRR growth of 10%, adjusted EBITDA of $1.2 billion (49% margin), and FFO of $877 million (+13% YoY).
Annualized bookings reached $1.6 billion in 2025 (+27% YoY), including $474 million in Q4 bookings (+42% YoY; +20% QoQ).
Net interconnections rose by 7,800, surpassing 500,000 total connections, while interconnection revenue grew 9% YoY (normalized).
For 2026, Equinix forecasts 9–10% revenue growth, 8–10% MRR growth, an adjusted EBITDA margin of ~51%, 8–10% AFFO per share growth, and a 10% dividend increase.

Feb 11, 2026, 10:30 PM

Transcript

Equinix announces Q4 2025 results

EQIX

Earnings

Guidance Update

Dividends

Q4 monthly recurring revenue rose 10% year-over-year; full-year MRR grew 7% as-reported (8% constant currency).
Delivered record Q4 annualized gross bookings of $474 M (+42% YoY) and $1.6 B in FY 25 bookings (+27% YoY).
FY 25 Total Revenues of $9.217 B (+5% YoY), Adjusted EBITDA of $4.53 B (+11% YoY) and AFFO per share of $3.761 (+12% YoY).
2026 outlook: normalized revenue growth of 9–10%, net leverage of 3.8x, liquidity of $7.2 B, and ~$2.04 B in cash dividends ($20.64/share, +10% YoY).

Feb 11, 2026, 10:30 PM

Presentation

Equinix reports Q4 2025 results and 2026 guidance

EQIX

Earnings

Guidance Update

In Q4 2025, revenue was $2.4 billion (+7% YoY) and monthly recurring revenue (MRR) grew 10% in Q4 and 8% for the full year on a normalized, constant currency basis.
Q4 annualized growth bookings reached $474 million (+42% YoY; +20% QoQ), driving full-year growth bookings of $1.6 billion (+27% YoY) amid strong pipeline momentum.
Q4 adjusted EBITDA was $1.2 billion (49% margin, +15% YoY) and FFO totaled $877 million (+13% YoY).
For 2026, Equinix forecasts 9–10% revenue growth, 8–10% AFFO per share growth, $3.7–4.2 billion in CapEx, and a 10% increase in the quarterly dividend.

Feb 11, 2026, 10:30 PM

Transcript

Equinix provides robust 2026 outlook driven by strong Q4 results

EQIX

Earnings

Guidance Update

Dividends

Equinix delivered 10% year-over-year growth in Q4 monthly recurring revenue (MRR) and full-year MRR increases of 7% as-reported (8% normalized).
Achieved record annualized gross bookings of $474 million in Q4 (up 42% yoy) and $1.6 billion for FY 2025 (up 27% yoy).
Reported FY 2025 revenues of $9.217 billion (+5% as-reported; +6% normalized), net income of $1.350 billion (+66%), and AFFO of $3.761 billion (+12%).
Raised the quarterly cash dividend 10% to $5.16 per share, marking the 11th consecutive year of dividend growth.
Issued 2026 guidance calling for $10.123–10.223 billion in revenues (10–11% growth) and AFFO per diluted share of $41.93–42.74.

Feb 11, 2026, 9:11 PM

8-K

Equinix reports Q4 2025 results and provides 2026 guidance

EQIX

Earnings

Guidance Update

Equinix delivered 10% year-over-year growth in Q4 monthly recurring revenue (MRR) and 7% MRR growth for the full year (8% constant currency)
FY 2025 revenues reached $9.217 billion (+5% as-reported, +6% constant currency), operating income was $1.848 billion (+39%), and net income rose to $1.350 billion (+66%)
Posted record annualized gross bookings of $474 million in Q4 (+42%), contributing to $1.6 billion in bookings for 2025 (+27%)
2026 guidance calls for revenues of $10.123–10.223 billion (10–11% growth), adjusted EBITDA of $5.141–5.221 billion (~51% margin), and AFFO per share of $41.93–42.74

Feb 11, 2026, 9:05 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for EQUINIX.

Q4 2025

Feb 11, 2026

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Q3 2025

Oct 29, 2025

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Q2 2025

Jul 30, 2025

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View All Transcripts

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EQUINIX (EQIX)

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Executives

Adaire Fox-Martin

Brandi Galvin Morandi

Jon Lin

Keith Taylor

Kurt Pletcher

Raouf Abdel

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Charles Meyers

Christopher Paisley

Fidelma Russo

Gary Hromadko

Nanci Caldwell

Rebecca Kujawa

Sandra Rivera

Thomas Olinger

Yanbing Li

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Michael Rollins

Jonathan Atkin

Michael Elias

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Frank Louthan

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Aryeh Klein

Cameron McVeigh

James Schneider

Jim Schneider

Jon Petersen

Simon Flannery

Timothy Horan

David Barden

Mike Funk

Nicholas Del Deo

Vikram Malhotra

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