EQUINIX INC files 8-K: results of operations

Item 2.02. Results of Operations and Financial Condition

Equinix is making reference to certain non-GAAP financial information in both the press release and the conference call. A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached press release.

• Annualized gross bookings grew 23% year over year, marking the second-highest volume on record, contributing to a record backlog

• Added a record 9,700 net interconnections in the quarter, continuing to extend the company’s interconnection leadership

• Raising full-year 2026 guidance and long-term outlook on stronger demand, bookings, presales and continued execution across the business

REDWOOD CITY, Calif. - July 29, 2026 - Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company ® , today reported results for the quarter ended June 30, 2026.

“We delivered an exceptionally strong Q2. Monthly recurring revenue grew double digits for the third straight quarter, new interconnections on our platform hit a record level, and disciplined execution drove robust profit growth,” said Adaire Fox-Martin, CEO and President, Equinix. “Our revised 2026 guidance and long-term financial outlook reflect momentum across the business. Customer demand is broad-based and growing, and Equinix is uniquely positioned to serve the networking, cloud and AI infrastructure needs of enterprises around the world.”

Second-Quarter 2026 Results Summary

• Revenues

◦ $2.625 billion, a 16% increase over the same quarter of the previous year on both an as-reported basis and a normalized and constant currency basis driven by strong underlying performance and one-time xScale ® fees

• Operating Income

◦ $665 million, a 35% increase over the same quarter of the previous year, primarily from strong underlying operating performance and the impact of one-time xScale fees

• Net Income Attributable to Common Stockholders and Net Income per Share Attributable to Common Stockholders

◦ $479 million, a 30% increase over the same quarter of the previous year, primarily from higher operating income

◦ $4.83 per share, a 29% increase over the same quarter of the previous year

• Adjusted EBITDA

◦ $1.396 billion, a record adjusted EBITDA margin of 53%, representing a 24% increase over the same quarter of the previous year on an as-reported basis, or a 22% increase on a normalized and constant currency basis

• AFFO and AFFO per Share

◦ $1.168 billion, a 20% increase over the same quarter of the previous year on an as-reported basis, or a 19% increase on a normalized and constant currency basis driven by strong operating performance and one-time xScale fees

◦ $11.78 per share, a 19% increase over the same quarter of the previous year on an as-reported basis, or an 18% increase on a normalized and constant currency basis

Equinix uses certain non-GAAP financial measures, which are described further below and reconciled to the most comparable GAAP financial measures after the presentation of our GAAP financial statements.

Equinix does not provide forward-looking guidance for certain financial data, such as depreciation, amortization, accretion, stock-based compensation and other components of net income or loss from operations, and as a result, is not able to provide a reconciliation of GAAP to non-GAAP financial measures for forward-looking data without unreasonable effort. The impact of such adjustments could be significant. Equinix intends to calculate the various non-GAAP financial measures in future periods consistent with how they were calculated for the periods presented within this press release.

All per-share results are presented on a fully diluted basis.

For the third quarter of 2026, the company expects revenues to range between $2.525 and $2.575 billion, an increase of 9 - 11% over the previous year on an as-reported basis, or 10 - 12% on a normalized and constant currency basis. Adjusted EBITDA is expected to range between $1.275 and $1.315 billion, reflecting an adjusted EBITDA margin of approximately 51%.

For the full year of 2026, total revenues are expected to range between $10.205 and $10.285 billion, an increase of approximately 11 - 12% over the previous year on both an as-reported and a normalized and constant currency basis. Adjusted EBITDA is expected to range between $5.210 and $5.270 billion, reflecting an adjusted EBITDA margin of approximately 51%, an approximate +2% expansion over the previous year. AFFO is expected to range between $4.240 and $4.300 billion, an increase of 13 - 14% over the previous year on an as-reported basis, or 12 - 13% on a normalized and constant currency basis. AFFO per share is expected to range between $42.69 and $43.29, an increase of 11 - 13% over the previous year on an as-reported basis, or 10 - 12% on a normalized and constant currency basis. Total capital expenditures are expected to range between $5.000 and $6.000 billion.

The updated outlook reflects stronger-than-expected demand, accelerating bookings and presales activity, increased visibility from committed capacity, firm pricing and continued confidence in achieving attractive returns on invested capital.

(1) Prior outlook as provided on Wednesday, June 25, 2025.

(2) Represents range of estimated annual growth rates through 2029. Assumes average currency rates used in our financial results remained the same over comparative periods. Excludes any future M&A activity.

(3) Capital expenditures exclude any future M&A activity, real estate acquisitions and our investments in the xScale joint ventures.

• Delivered $424 million of annualized gross bookings.

• Added a record 9,700 net interconnections.

• Announced the global expansion of Equinix Fabric Geo Zones, the industry's first network-level data sovereignty solution.

• Expanded collaboration with Cisco and NVIDIA to help enterprises accelerate AI deployment through standardized AI factory architectures, secure infrastructure and real-world testing environments across Equinix's global data center footprint.

• Accelerated capacity expansion to meet growing customer demand, with nine new projects added since April and 52 projects underway across 33 markets worldwide.

• Published U.S. Community Principles and signed the Ratepayer Protection Pledge, reinforcing the company's longtime commitment to investing in communities in ways that address their needs and create lasting value.

• Further strengthened leadership team with the appointment of Chris Audie as Chief Product Officer and Bruce Owen as Executive Vice President, Global Markets.

• Ranked #1 for Innovation in The Wall Street Journal's inaugural Best Companies for the Future, underscoring the company's strong positioning for long-term success in an AI-driven economy.

Q2 2026 Results Conference Call and Replay Information

Equinix will discuss its quarterly results for the period ended June 30, 2026, along with its future outlook, in its quarterly conference call on Wednesday, July 29, 2026, at 5:30 p.m. ET (2:30 p.m. PT). A simultaneous live webcast of the call will be available on the company’s Investor Relations website at www.equinix.com/investors. To hear the conference call live, please dial 1-517-308-9482 (domestic and international) and reference the passcode EQIX.

A replay of the call will be available one hour after the call through Wednesday, September 30, 2026, by dialing 1-866-427-6395 and referencing the passcode 2026. In addition, the webcast will be available at www.equinix.com/investors (no password required).

Investor Presentation and Supplemental Financial Information

Equinix has made available on its website a presentation designed to accompany the discussion of Equinix’s results and future outlook, along with certain supplemental financial information and other data. Interested parties may access this information through the Equinix Investor Relations website at www.equinix.com/investors.