Highlights

  • FY26 group Revenue rose 37% to A$312.2 million, within guidance, with EBITDA climbing to A$77.1 million.
  • FY27 capex guidance now stands at A$1.78 billion to A$1.88 billion, up from August's A$1.28 billion to A$1.38 billion.
  • Strategic customer contracts secured over the past year carry a combined value of about A$2.3 billion.
  • Shareholders will vote on Latitude.sh contingent consideration of up to 14.6 million shares on 20 November 2026.

Megaport Ltd (ASX:MP1) is reshaping itself from a network-as-a-service provider into an AI infrastructure platform, and its spending plans have grown to match. The notice for its 20 November 2026 Annual General Meeting puts FY27 Capital Expenditure guidance at A$1.78 billion to A$1.88 billion, roughly six times FY26 revenue, after the company secured strategic customer contracts worth about A$2.3 billion over the past year.

FY26 Delivered Growth Across Network and Compute

For the year to 30 June 2026, group revenue increased 37% to A$312.2 million, or 27% in constant currency, within guidance of A$307 million to A$315 million. Network revenue was A$268.3 million and the new Compute division, built on the November 2025 Acquisition of Latitude.sh, contributed A$43.9 million. EBITDA rose to A$77.1 million from A$62.3 million.

Group annual Recurring Revenue reached A$395.2 million, with Network ARR up 19% to A$289.6 million and Compute ARR at A$105.6 million. Customer logos grew 12% to 3,206, and network net revenue retention improved to 114%. Total services rose 20% to 40,735 across 1,138 data centres, and 87% of FY26 revenue came from outside Australia. The company also acquired Extreme IX, expanding into India.

Funding Built for an Infrastructure Build-Out

Megaport raised A$218.2 million through a Placement and share purchase plan in November 2025 and A$827.3 million through an entitlement offer in June 2026, with the retail component completing on 2 July. Operating Cash Flow was A$82.1 million, and cash stood at A$435.4 million at 30 June 2026. An A$845 million syndicated Debt Facility was signed in September 2026, following binding commitments of A$825 million received in August.

At its August result, the company's strategic contracts carried total contract value of A$1.3 billion and long-term ARR of A$435 million, supported by A$826 million of capex. Headcount has risen from 351 in June 2025 to 663.

What the November AGM Will Consider

Shareholders will vote on the election of director Jon Gidney, a lift in the non-executive director fee pool from A$1.5 million to A$2.0 million, a non-executive director Equity plan and performance share units for Chief Executive Michael Reid. Two further resolutions seek approval to issue up to 9,727,544 and 4,863,772 shares to the Latitude.sh vendors if revenue and integration milestones are met.

FY27 Outlook Rests on GPU Deployment

In August, Megaport guided FY27 revenue of A$620 million to A$730 million, including A$305 million to A$405 million from Compute, and an EBITDA Margin of 38% to 40%, including announced strategic contracts. Its GPU pool model targets six to nine months for procurement and deployment, a three to six-month ramp and a 16 to 22-month payback, with a sample of GPUs due for testing in the December 2026 quarter.

The board is also searching for an additional Australia-based non-executive director. Shares were priced at A$17.92 on 2 November 2026, up 1.76% on the day, with a Market Capitalisation of A$4.26 billion and a 12-month gain of 12.71%.