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IT service, Megaport reported $8.96 million in revenue announcing an eight per cent quarterly growth today.

Megaport provides Internet connection, optimisation and cloud connectivity around the globe, integrating cross-platform for clients and customers.

Megaport CEO Vincent English says the company is focused on a growing market need for direct cloud connectivity.

“With our industry-leading integration with Nutanix, our customers are empowered with greater choice through direct, scalable and on-demand connections to hyperconverged services like Xi Cloud, Vincent said.

The company’s total recurring monthly revenue for March this year was $3.11 million, an increase of $359,000 from last month.

Customer base increased seven percent, adding up to a total of 1,367. The company installed 19 data centers this quarter, totalling 264 now.

Total enabled data centers now add up to 465, a quarterly increase of 79.

Vincent English said the positive growth is owed to an aggressive expansion strategy.

“Our focus on expanding to additional sites in Montreal, Vancouver, and Toronto – combined with the launch of Oracle onramp services in Toronto, positions the company to capture the phenomenal demand for cloud connectivity in Canada,” Vincent said.

“With the launch of new features for Megaport Cloud Router (MCR 2.0) scheduled for release later this quarter, our customers and partners will be able to unlock powerful new cloud connectivity use cases,” he said.

Megaport rose 8.33 percent in the ASX today, opening at $5.05, spiking briefly up to $5.50 and leveling down to $5.33 after midday.

Please see the announcement attached

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