Q3 FY24 Highlights

as at 31 March 2024


Operational Update Investor Presentation 29 May 2024 – Download PDF


Annual Recurring Revenue 1


Total Number of Services 2


Enabled Data Centers


Customer Logos

1. Annual Recurring Revenue (ARR) in A$ is the recurring revenue expected over a 12 month period, calculated as Monthly Recurring Revenue for the last month of the period x 12, and excludes any non-recurring or one-off revenue.

2. Total Services comprise of Ports, Virtual Cross Connects (VXCs), Megaport Cloud Router (MCR), Megaport Virtual Edge (MVE), and Internet Exchange (IX).

Business Overview

Megaport was founded in Australia by industry expert and entrepreneur Bevan Slattery (iSeek, PIPE Networks, NextDC, Asia Pacific Data Centre Trust, SubPartners, Superloop, Cloudscene) who aimed to create an Software Defined Networking (SDN) platform that gave customers access to elastic interconnection services that align with cloud-based models.

The vision was to give customers greater simplicity, control, and choice over how they connected to, and between the services, applications, providers, and networks they needed for their businesses.

Megaport’s innovative interconnection platform transforms the way businesses connect. We offer fast, secure connectivity services on a flexible, pay-as-you-go basis with no setup fees.

Our platform provides real-time provisioning, allowing our customers to deploy services almost immediately, compared to setup times anywhere from one week to several months under traditional models. Connection speed, capacity, and destination can be varied almost instantaneously through a self-serve online portal.

Customers can easily access on-premises, cloud, and third-party application environments on Megaport’s virtualised platform, removing the need to be physically collocated with an application environment.

Almost two thirds of customer connections are to the major Cloud Service Providers – AWS , Microsoft Azure , Google Cloud Platform , Oracle Cloud , IBM Cloud , Alibaba , Salesforce , Nutanix , SAP , Rackspace, Cloudflare , and OVHcloud .

Megaport has connections to over 284 cloud on-ramps globally.

Our Software Defined Network

Megaport operates the largest Software Defined Network (SDN) platform globally, providing our 2,600+ customer logos the ability to connect to 850+ data centres in 150+ cities throughout 25 countries in North America, Europe, Asia, and Australia. Our Network as a Service solutions remove the need for customers to invest in direct, physical, point-to-point interconnection. We operate a standards-based, neutral platform, and have partnerships with 110+ unique data centre operators, allowing our customers to connect to applications without the limitations of being tied to a particular data centrer operator or geographic connection location.

Our Ecosystem

Megaport’s Marketplace is an online hub where global service providers and enterprise customers interconnect. Customers can efficiently multi-source IT services by connecting to a broad range of private and public transit services, cloud providers, managed services, and many others, right down to hosted voice services – all on a single platform and bypassing the public internet. Service providers on our network can showcase their brand, reach global enterprises, scale to new markets, and provide solutions for businesses worldwide.

Our Global Reach

Megaport is connected to over 850 data centers, which are redundantly connected using leased fibre – typically dark fibre, leased bandwidth, and sub-sea capacity. This physical network enables Megaport to enable over 28,000 services for over 2,600 customer logos in over 150 cities in 25 countries globally.

Our Flexible Pricing

The “glue” that brings these elements of our business together is Megaport’s flexible pricing plan. This provides customers a pay-as-you-go model and right-sized bandwidth, mirroring how businesses consume their cloud services.

Strong, Resilient Growth

Megaport’s innovative interconnection platform helps companies accelerate their digital transformation by offering fast, secure connectivity services on a flexible, pay-as-you-go basis with no setup fees. Our SaaS-based model has delivered resilient, recurring revenues that have grown as customers have added additional services to facilitate the increasing complexity of their IT networks.

Megaport revenue graph

Annual Recurring Revenue = Monthly Recurring Revenue for the last month of the period multiplied by 12.

Historical KPIs

A Summary of Historical KPIs is available in the following document ( ).

Megaport Structure

Megaport’s business is structured into three divisions:

  • Americas (sometimes referred to as NAM)
  • Asia Pacific (APAC)
  • Europe, Middle East, and Africa (sometimes referred to as Europe)

Megaport Values

Megaport was founded on the ideals that transparency, neutrality, flexibility, immediacy, and transformation were needed in the global connectivity industry to unlock the value of cloud adoption. The Megaport Values are derived directly from these ideals and are at the centre of everything we do – from our ongoing relationships with customers and partners, to our daily interactions with team members across Megaport. At its core, Megaport is all about breaking down barriers, enabling agile, reliable, trusted resources and connecting the world.


Our industry moves fast but we move faster. Our customers and partners need us to stay ahead of the curve to keep them ahead of the curve. With initiative and a ‘can-do’ attitude, we accelerate everything we do. We bring our authentic selves to work and deliver real time services that enable customers and partners to respond to dynamic and ever-changing market dynamics immediately.


Innovation is in our DNA. Our shared knowledge builds on our collective genius. Working together across the globe with a common purpose is the most optimal way of innovating our products and brings out the best of our experiences and creativity.


Our success is a collective win and together we achieve more.


We love to play as a team, win together, and recognise our colleagues for their efforts and achievements.

Dividend Policy

The Board's current policy is to not pay dividends as we prioritise investing to grow the business.

Dividend History

Megaport has not declared or paid any dividends since listing on ASX.

Key Shareholder Forms

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Get in touch

Contacting Megaport


Level 3 825 Ann St,
Fortitude Valley QLD 4006

Investor Relations

Share Registry

Computershare Investor Services Pty Limited
Level 1 200 Mary Street, Brisbane QLD 4000

Phone: 1300 850 505
International Callers: +61 3 9415 4000
Facsimile: +61 3 9473 2500

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