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Cyxtera (NASDAQ: CYXT) announced strong third-quarter results for 2022, reporting total revenue of $186.6 million, up by 5.4% compared to the previous year. Recurring revenue rose 5.2% to $178.1 million, while core revenue increased by 7.3% to $172.8 million. The company achieved its 11th consecutive quarter of positive net bookings. Despite a net loss of $55.9 million, Transaction Adjusted EBITDA grew by 0.8% to $58.5 million. Cyxtera also revealed plans to convert to a Real Estate Investment Trust and affirmed its full-year revenue guidance of $730 to $760 million.
Cyxtera (NASDAQ: CYXT) will release its third quarter 2022 financial results before market open on November 8, 2022. The earnings conference call is scheduled for 8:30 am ET the same day, covering results for the period ending September 30, 2022. Interested parties can access the call by dialing 1-833-927-1758 or via a live webcast on the company's website. A replay will be available until November 15, 2022.
Cyxtera has partnered with Oxford Quantum Circuits (OQC) to launch the first commercial quantum computer within a colocation data center, specifically at Cyxtera’s Reading Data Center Campus LHR3. This collaboration enables customers to access quantum computing-as-a-service, significantly reducing latency for quantum applications. The integration of quantum computing within existing IT infrastructure provides unprecedented analytical capabilities across various industries. This deployment marks a shift in quantum computing from labs to managed environments, enhancing accessibility for Cyxtera's customers.
Cyxtera (NASDAQ: CYXT) has announced its Board of Directors unanimously approved its conversion to a Real Estate Investment Trust (REIT) by
Cyxtera has closed a $37.5 million accounts receivable securitization facility with PNC Bank, enhancing liquidity and reducing interest expenses. This new facility replaces the former accounts receivable factoring facility and offers improved terms over a three-year commitment. Carlos Sagasta, CFO, emphasized its significance for the company's financing strategy, providing greater flexibility and a low-cost capital source. Cyxtera continues to lead in colocation and interconnection services with more than 60 data centers globally.
Cyxtera (NASDAQ: CYXT) reported its Q2 2022 financial results, with total revenue reaching $184.1 million, a 4.9% increase year-over-year. Recurring revenue rose to $174.2 million, up 4.1%, while core revenue increased by 5.9% to $168.8 million. The company faced a net loss of $48.1 million and a 3.8% decrease in Transaction Adjusted EBITDA to $60 million, influenced by higher operating costs. Cyxtera’s occupancy stabilized at 74.2%, and it joined the Russell 2000® Index. Despite robust demand, the company revised its EBITDA guidance downward for the year due to FX volatility and supply chain issues.
Cyxtera (NASDAQ: CYXT) will hold its Q2 2022 earnings conference call on August 11, 2022, at 8:30 am ET. The call will discuss financial results for the period ended June 30, 2022. Interested parties can access the call by dialing 1-844-200-6205 domestically or 1-929-526-1599 internationally. A webcast will be available on the company's investor relations page. A replay of the call will be available until August 18, 2022.
Cyxtera operates 61 data centers globally, serving over 2,300 enterprises and U.S. federal agencies.
Cyxtera (NASDAQ: CYXT) will join the Russell 2000® Index effective June 27, following the annual reconstitution of Russell indexes. This change is based on market capitalization rankings as of May 6. Inclusion indicates Cyxtera's growing market presence and potential increased visibility to institutional investors, as Russell indexes benchmark approximately $12 trillion in assets. Cyxtera continues to provide data center colocation and interconnection services globally, operating 61 data centers across 28 markets.
On June 14, 2022, Cyxtera (NASDAQ: CYXT) announced its collaboration with CareAR, a Xerox company, to enhance customer service through augmented reality (AR) technology. Their joint solution combines Cyxtera's Remote Hands with Visual Assist and CareAR's Service Experience Management (SXM) platform. This partnership aims to improve service interaction, reduce support dispatch needs, and accelerate resolution times. The solution will launch across several Cyxtera data centers, including locations in New York, London, and Dallas, offering real-time visual guidance and interactive instructions.
Cyxtera (NASDAQ: CYXT) will have Chief Financial Officer Carlos Sagasta participating in the RBC Capital Markets 2022 Global Communications Infrastructure Conference on May 24-25, 2022. His schedule includes a panel discussion on May 24 at 6 p.m. Eastern Time and a fireside chat on May 25 at 12:40 p.m. Eastern Time. Live audio webcasts will be available at ir.cyxtera.com, with an archived version accessible post-conference.
