Global Cloud Xchange (GCX), a network service provider powering global connectivity for new media providers, telecom carriers and enterprises, announced the results of the first half of their annual fiscal year, detailing the continuation of the company’s strong financial results. Highlights include strong sales, a focus on profitability, cost management measures, and investment discipline resulting in continued growth, resulting in last-twelve-month (LTM) Cash EBITDA of $95 million.
These financial results come shortly after the recent announcement that 3i Infrastructure plc agreed to invest in GCX.
Since GCX’s strong close to FY21, ending March 31, 2021, the company posted $51 million Cash EBITDA driven by sustained IRU bookings and further cost reductions. For their LTM period, GCX achieved Cash EBITDA of $95 million, the highest figures since the company entered Chapter 11 in 2019. Recurring EBITDA for 1H FY’22 increased by 88% from 1H FY’21. GCX continues to drive revenue growth while controlling expenses and deleveraging the business.
Through the 3i Infrastructure investment and beyond, the management team remains focused focused on serving customers, evolving technologies and solutions, and creating greater value for shareholders. GCX is fully committed to maintaining its financial strength and prioritizing sustainable growth through both organic and inorganic initiatives.
Learn more about GCX’s financial results by clicking here.