Looks like Megaport are on track to double their customers in the USA in three months (April to June). This is based on the amount of active ports in a location - so it's a rough figure. I imagine that's just the start as they begin to gain traction in other geographies.
For instance there are this many ports active in some of our capital cities.
173 active ports in Sydney
60 active ports in Brisbane
86 active ports in Melbourne
Each one of these ports means a monthly fee to get on onto the Megaport Fabric and then they pay per month for whatever services they want, eg 1 customer may have a single or multiple ports but with many cross connects. To find out the costs you can simply log in to the megaportal https://megaport.al/dashboard
At the moment the US location with the most active ports is San Jose, for obvious reasons. It is sitting at 17 active ports. LA is next in line with 15. This is climbing pretty quickly so I don't think it would take long to pass the amount of revenue made in Australia due to the much larger potential market there.
I've nearly collected 3 months worth of data so at the end of this month I'll be in a much better situation to try to get some forecasts in my head for revenue. Keep in mind most of this quarter they've been adding datacentres and customers, we'll always see a lag in revenue for the quarterly results. I suspect there should be a higher uplift in this quarter, but the one after that might be more interesting.
We'll see anyway.
MP1 Price at posting:
$2.23 Sentiment: Buy Disclosure: Held
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