Lots of ongoing capex and no prospect of early DC completion - no early revenues were maybe the two things that didn’t turn buyers on.
They really can’t build the DCs fast enough & they need more capacity already because it’s all leased or pre-committed.
But crikey take a look at the cloud arm of the business - generating ballpark $100 mill revenues! Big uptick in business and they are beginning to really own that Govt space with the focus on cyber security already in 42% of Govt departments & growing.
Keep increasing that DC capacity boys, but the cloud business is already generating 3 x - 4 x the revenues of the DCs and is far more scalable than the capex heavy DC business so let’s go balls & all as the dominant player in that space.
MAQ Price at posting:
$50.54 Sentiment: Hold Disclosure: Held
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