Megaport Says Unit Signs Over $25 Million Contract With US-Based Customer; Shares Up 5%
Megaport's (ASX:MP1) wholly-owned unit, Latitude.sh, signed a 36-month contract with a new US-based customer, with a total value of around $25.1 million, representing around $8.4 million in annualized recurring revenue, according to a Monday Australian bourse filing.The contract will be supported by around $12.2 million in incremental capital expenditure on CPU servers, the filing said.The company said it placed an order for the hardware, with delivery expected in fiscal 2026 and deployment to occur on a phased basis commencing in the first half of fiscal 2027 in line with customer requirements.The company reaffirmed its previously provided fiscal 2026 revenue guidance of AU$302 million to AU$317 million.Megaport's shares rose 5% in recent trading on Monday.
