Megaport Ltd. · ASX:MP1
Megaport — H1 FY2026 Earnings Presentation
43 slides from Megaport's earnings presentation, Feb 20, 2026
Slide 1: FY26 Half Year Results
(A) INVESTOR PRESENTATION FY26 HALF YEAR RESULTS = WMEGAPORT — 7 a ee ee - F F FF FEF
Slide 2: Slide Key
Slide Key - Indicated Top Right of Each Slide Megaport Network Latitude.sh Megaport Network + Latitude.sh Megaport Network + Extreme IX Megaport Group 2
Slide 3: Company Highlights
Acquisition Company Financial Guidance & Strategic Highlights Results Update Update 3
Slide 4: Megaport Group Annual Recurring Revenue
COMPANY HIGHLIGHTS Megaport Group Annual Recurring Revenue 338 ARR A$M 68 263 227 192 148 110 75 55 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Megaport Network Megaport Compute (Latitude.sh) Extreme IX NB: Due to rounding, numbers presented in this section may not calculate precisely to the to
Slide 5: H1 FY26 Megaport Group Highlights
COMPANY HIGHLIGHTS H1 FY26 Megaport Group Highlights Total Group Latitude.sh Extreme IX Guidance ARR ARR ARR Megaport Network $338M $68M $7M original revenue guidance revised upward at the up 49% 22 locations2 40 DCs in India2 lower end to tighten the range. $112M YoY Acquired Acquired Latitude.sh r
Slide 6: H1 FY26 Megaport Network Highlights
COMPANY HIGHLIGHTS H1 FY26 Megaport Network Highlights NRR Annual Recurring Revenue Customer Lifetime Total LTV2 (by logo1,2) $263.4M 111% 13 yrs $2.5B up 16% (19% Constant Currency) up from 108% up from 10 yrs up 57% $36.8M YoY 3pp YoY 3 yrs YoY $897M YoY 1. Net Revenue Retention calculation has be
Slide 7: Annual Recurring Revenue
COMPANY HIGHLIGHTS Annual Recurring Revenue ARR A$M Total Largest ever YoY 263 244 increase in ARR1,2 227 204 2 192 ARR Incremental Additions 179 155 Americas 148 24.7 140 128 131 116 110 109 17.4 100 90 14.9 84 75 11.8 68 69 65 APAC 59 62 55 57 55 49 52 43 46 39 41 41 44 EMEA 33 35 35 33 36 31 29 2
Slide 8: Net New Customer Logos
COMPANY HIGHLIGHTS Net New Customer Logos 167 153 New Logo Growth up 100% on PCP 97 Reflects the investment in GTM, new 83 products, and new locations. 70 Continued HoH growth is a validation of a sustained turnaround in business performance, setting the stage for future revenue expansion. 22 H2 FY2
Slide 9: Incremental ARR from New Product Innovation
COMPANY HIGHLIGHTS Incremental ARR from New Product Innovation1,2 $8.4M Continued Product Innovation is Key to Growth Over 30% of ARR growth in H1 FY26 was driven by product innovation1. Prior to FY24, there was no major product innovation since the MVE launch in March 2021. Showcasing the critical
Slide 10: Total Lifetime Value
COMPANY HIGHLIGHTS Total Lifetime Value1 $2.5B Total LTV increased 57% YoY1 Customer Lifetime is up from 10 to 13 years YoY. ARR per Customer1 up 6% YoY to $87k. This is a result of early and ongoing investment in GTM, product innovation, and DC and network expansion. Investments typically have an 1
Slide 11: Execution Against Strategy
COMPANY HIGHLIGHTS Execution Against Strategy Build Innovate Invest • Launched enterprise-grade security • +51 DCs in H1 FY26, reaching 1,034 features for MCR: • Acquired Compute and GPU as a total Service business (Latitude.sh) - IPSec - encrypted tunnels • +5 new IX locations, reaching 35 total -
Slide 12: Financial Results
Acquisition Company Financial Guidance & Strategic Highlights Results Update Update 12
Slide 13: EBITDA
FINANCIAL RESULTS EBITDA Revenue: Strong expansion within existing customer base (NRR), growth in new logo acquisition, and inclusion of Compute revenue from December. H1 FY26 H1 FY25 Change Change Partner commissions: Continued strong engagement with Consolidated EBITDA partners, particularly in th
Slide 14: Cash Flow
FINANCIAL RESULTS Cash Flow Operating cash inflows increased, driven by higher customer H1 FY26 H1 FY25 Change Change revenues during the period and the inclusion of one month of Consolidated Cash Flow $'M AUD $'M AUD $'M AUD % Latitude.sh. Cash flow - Operating Activities 36.0 31.7 4.3 14% Investin
Slide 15: Staff Costs: Supporting Ongoing Investment
FINANCIAL RESULTS Staff Costs1: Supporting ongoing Investment Sales and Marketing Product and Engineering General and Administration 11% 33% 18% 29% 9% 9% 15% 23% 8% 21% 21% 21% 7% 6% 6% 6% 12% 12% 17% 11% 11% 11% 11% 15% FY22 FY23 FY23 FY24 FY24 FY25 FY25 FY26 FY22 FY23 FY23 FY24 FY24 FY25 FY25 FY2
Slide 16: Acquisition & Strategic Update
Acquisition Company Financial Guidance & Strategic Highlights Results Update Update 16
Slide 17: Is AI benefitting Megaport?
ACQUISITION & STRATEGIC UPDATE Is AI benefitting Megaport? Yes. AI is proving to be a strong tailwind. AI is driving significant movement of data via networks and requires processing via CPU and GPU. Megaport is software defined physical network and compute. The picks and shovels for AI. Thirteen ye
Slide 18: Our Guiding Principles
ACQUISITION & STRATEGIC UPDATE Our Guiding Principles All strategic initiatives are assessed against our Guiding Principles Automation Self-service Instantaneous Easiest Global Scale Best Support Most Resilient Disruptive Pricing Flexible Profitable 18
Slide 19: Investment in Strategic Pillars Unlocks TAM
ACQUISITION & STRATEGIC UPDATE Investment in Strategic Pillars Unlocks TAM MULTIPLE PILLARS FOR GROWTH Build New DCs New Expand Expand Markets Capacity CPU/GPU Innovate Network Security CPU/GPU AI Innovation Innovation Innovation Innovation Invest Expand Expand Strategic Product and GTM Acquisitions
Slide 20: Latitude.sh delivers: Compute as a Service
ACQUISITION & STRATEGIC UPDATE • Globally scalable Latitude.sh delivers: • Automated platform Compute as a Service • Rapidly growing Provides high-performance CPU and GPU in • Product-led key markets worldwide, with simple APIs, predictable billing, and the flexibility to deploy workloads on demand
Slide 21: Latitude.sh Global Presence
ACQUISITION & STRATEGIC UPDATE Latitude.sh Global Presence US$45.0M ARR1 US - 50% Europe - 20% APAC - 17% LATAM - 13% 1. As at 31-Dec-25. 21
Slide 22: Customer Use Cases
ACQUISITION & STRATEGIC UPDATE Customer Use Cases CPU GPU Web3 & Enterprise Blockchain Applications Inference SaaS Gaming Fine Tuning Adtech Streaming Training 22
Slide 23: History of Product-led Growth - Demo
ACQUISITION & STRATEGIC UPDATE History of Product-led Growth - DEMO Latitude.sh delivers: 23
Slide 24: Logical Next Step in Megaport's Evolution
ACQUISITION & STRATEGIC UPDATE Logical Next Step in Megaport's Evolution Global Network Infrastructure IT Infrastructure DC to DC Connectivity DC to Cloud Cloud to Cloud Global WAN Network Compute Storage Network Internet Exchange IPSec Tunnels Internet Megaport Global Service Platform Cloud Router
Slide 25: Post-Acquisition Plan Update
ACQUISITION & STRATEGIC UPDATE Post-Acquisition Plan Update Integration Preparation Align & Enable Accelerate Deliver • Business continuity • Commence joint account • Joint customer campaigns • Solidify and expand go- targeting to-market strategy • Retain key talent • Channel enablement • Align team
Slide 26: India Expansion - Acquisition
ACQUISITION & STRATEGIC UPDATE India Expansion - Acquisition Foothold investment in 7 cities and • World’s 5th largest economy and most populous country 40 data centres • Strong demand from existing Megaport customers for access to India Delhi • Increasing cloud adoption and expansion • ~A$43 millio
Slide 27: The Megaport Journey: Continues as Planned
ACQUISITION & STRATEGIC UPDATE The Megaport Journey: Continues as Planned PRIORITISE BUILD PROFITABILITY TRANSFORM & RESET ACCELERATE REVENUE ASPIRATION Growth rate in decline Rebuild GTM, Product & Engineering Strong growth from a NRR declined NRR Stabilised Continue to Megaport of the Future small
Slide 28: Guidance Update
Acquisition Company Financial Guidance & Strategic Highlights Results Update Update 28
Slide 29: Megaport Network Only: Update vs Original FY26 Guidance
GUIDANCE UPDATE Megaport Network Only: Update vs Original FY26 Guidance1,2 at 0.65 AUD:USD Revenue EBITDA Capex M $264M - $270M 18 - 20% of revenue 18 - 20% of revenue Raised lower end +$4M from $260M EBITDA Margin Unchanged Unchanged Updated FY26 revenue guidance: raised lower end to tighten range
Slide 30: Combined Group: Updated FY26 Guidance
GUIDANCE UPDATE Combined Group: Updated FY26 Guidance1,2 at $0.70 AUD:USD for H2 FY26 A detailed breakdown of Combined Group guidance is provided in the Appendix. M Revenue EBITDA Capex $302M - $317M 21 - 24% of revenue $90M - $100M Updated FY26 guidance for the Combined Group reflects H1 FY26 actua
Slide 31: Questions
FY26 HALF YEAR RESULTS Questions @megaport ASX: MP1 @megaportnetwork megaport.com/investor @megaportnetworks megaport.com/newsroom THANK YOU
Slide 32: Important Information
Important Information MEGAPORT LIMITED ACN 607 301 959 The information contained in this presentation is subject to change and Megaport does not intend, and specifically disclaims any obligation, to update This presentation is provided for informational purposes only and is not, and is or revise any
Slide 33: Appendix
Appendix 33
Slide 34: H1 FY26 Revenue-Generating KPIs
APPENDIX H1 FY26 Revenue-Generating KPIs1 Half-Yearly Performance Trailing 12 Month Performance 31 31 31 30 June December Change December December Change 2025 2025 2024 2025 Megaport Network: Annual Recurring Revenue (‘ARR’) in millions $243.8 $263.4 8% $226.6 $263.4 16% Net Revenue Retention - Acco
Slide 35: Financial Position
APPENDIX Financial Position 31 December Financial Position of Megaport Group reflects Consolidated statement of financial position 2025 30 June 2025 provisional accounting treatment for the $'M AUD $'M AUD acquisitions of Latitude.sh and Extreme IX Cash 206.3 102.1 Other current assets 41.9 33.0 Non
Slide 36: Capital Expenditure
APPENDIX Capital Expenditure 39 Accelerated delivery of equipment 35 in H1 FY26 to support new and 29 ongoing data centre builds 16 13 19 A$M 39 PPE Capex 8 • Capex for equipment purchases has been heavily skewed to H1 FY26 for DC 16 19 deployments across the full year 12 • Continued investment in n
Slide 37: Equity Settled Employee Costs
APPENDIX Equity Settled Employee Costs H1 FY26 $12.9M reflects an increase of $1.8M vs H2 FY25, driven by: Includes incentive arrangements for key Equity Settled Employee Costs $M executives, founders of Latitude.sh, and key GTM and R&D staff. Attracting and hiring new talent, particularly in North
Slide 38: FY26 Guidance FX Sensitivities
APPENDIX FY26 Guidance FX Sensitivities Estimated impact on FY26 Guidance Estimated annualised impact of a $0.01 of $0.70 AUD:USD for H2 FY26 of move in key currencies vs AUD: -$9M Revenue: Network: Network: A$M Annualised USD EUR GBP Revenue -$5.8M and EBITDA -$1.5M Revenue 2.3 0.4 0.3 EBITDA 0.6 n
Slide 39: FY26 Guidance Details
APPENDIX FY26 Guidance Details Revenue Capex Low High Low High Network $258M $264M Network 18% 20% Compute $41M $49M Compute $35M $38M India $3M $4M Total $302M $317M India $8M $10M 39
Slide 40: Glossary
APPENDIX Glossary Term Definition Annual Recurring Revenue or Annual Recurring Revenue for Network is the recurring revenue expected over a 12 month period, calculated as Monthly Recurring ARR - Network Revenue for the last month of the period x 12, and excludes any non-recurring or one-off revenue.
Slide 41: Glossary (continued)
APPENDIX Glossary (continued) Extreme IX India's leading Internet Exchange operator that has been acquired by Megaport Free Cash Flow ('FCF') is defined as EBITDA less Capital Expenditures. Lease payments are not included in definition of Free Cash Free Cash Flow (FCF) Flow. Lease payments are discl
Slide 42: Glossary (continued)
APPENDIX Glossary (continued) Megaport Cloud Router enables customers to instantly provision and control virtual routers through Megaport’s web-based portal. Enterprises and service providers can unlock powerful use cases such as cloud-to-cloud networking and deploy Virtual Points of Megaport Cloud
Slide 43: Glossary (continued)
APPENDIX Glossary (continued) n.m. = not meaningful n.m. = not meaningful pcp Prior Corresponding Period pp pp = percentage point. PRSUs PRSUs are Performance Restricted Stock Units issued to key management personnel. RSUs RSUs are Restricted Stock Units used to attract and retain staff. TAM Total A