Global Cloud Xchange (GCX), a network service provider powering global connectivity for new media providers, telecom carriers and enterprises, has revealed key financial and operating results highlighting steady growth over the past year. After successfully completing their audit, the company unveiled strong cash flow for Fiscal Year 2021 (FY21) during a live webcast held Thursday, July 8 at 9AM ET.
Through the pandemic, GCX stabilized revenue following the previous four consecutive quarters of decline, and strengthened cash flow while positioning the company for future financial growth. The earnings call revealed cash revenue grew by 6.6 percent to $271.2 million led by strong Recurring Revenue and IRU sales.
The company remains on the trajectory of growth as GCX previously announced key findings from a Pioneer Consulting report evaluating the service life of its global subsea assets.GCX owns and operates a network spanning US, Europe, Middle East, India, and East Asia over subsea systems that include FA-1, FNAL NACS and WACS, FALCON and HAWK. Pioneer’s evaluation cited at least five more years on GCX’s oldest operating systems, plus longer life at increased capacity available for the future.
The Demand for global bandwidth in submarine networks continues to grow across emerging markets. GCX strengthens its market position through operational integration of the company’s global assets, and supports increasing needs for fiber optic interconnectivity as the owner and operator of one of the world’s largest privately-owned submarine networks. GCX is committed to maintaining its financial strength and prioritizing sustainable growth through both organic and inorganic initiatives.
Learn more about GCX’s financial and operating results by clicking here.