Equinix, Inc. · NASDAQ:EQIX

Equinix — Q3 2026 Earnings Presentation

49 slides from Equinix's earnings presentation, Oct 28, 2026

  1. Slide 1: Q3 2026 Earnings Conference Call

    Q3 2026 Earnings Conference Call NASDAQ: EQIX Presented on October 28, 2026 © 2026 Equinix, Inc.

  2. Slide 2: Public Disclosure Statement

    Public Disclosure Statement Forward-Looking Statements Except for historical information, this presentation contains forward-looking statements which include words such as “believe,” “anticipate,” and “expect.” These forward-looking statements involve risks and uncertainties that may cause Equinix’s

  3. Slide 3: Contents and Key Themes

    Contents and Key Themes 1. Performance Highlights • Double-digit growth across key metrics • Record bookings, strengthening pricing • Accelerated capacity delivery • Disciplined, demand-led investment • Balance sheet strength to fund growth 2. Guidance Summary • Raising FY26 outlook • Positioned to

  4. Slide 4: Performance Highlights

    Performance Highlights © 2026 Equinix, Inc. 4

  5. Slide 5: Translating Our Strategy into Results

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Translating Our Strategy into Results Differentiated positioning is driving strong performance and a raised outlook Serve • Annualized gross bookings increased to a record $533M, up Accelerating Bookings Better 3

  6. Slide 6: Strong Bookings Momentum Driving Our Growth Trajectory ($M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Strong Bookings Momentum Driving Our Growth Trajectory ($M) Robust demand environment and strong execution driving record annualized gross bookings +35% Quarterly Gross Bookings - Annualized $533 $474 $424 $394 $

  7. Slide 7: Q3 2026 Financial Highlights ($M, except per share)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Q3 2026 Financial Highlights ($M, except per share) Delivered another quarter of double-digit revenues and AFFO per share growth, driven by strong underlying operating performance Revenues Adjusted EBITDA AFFO an

  8. Slide 8: Regional Revenues Performance ($M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Regional Revenues Performance ($M) Customer demand is strong across all regions AMER EMEA APAC 29 metros, 110 data centers 30 metros, 107 data centers (1) 18 metros, 65 data centers Recurring Revenues Non-recurri

  9. Slide 9: Regional Adjusted EBITDA Performance ($M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Regional Adjusted EBITDA Performance ($M) Strong execution drove double-digit year-over-year Adjusted EBITDA growth AMER EMEA APAC Adjusted EBITDA Adjusted EBITDA Margin $641 $456 $456 $560 $413 $424 $516 51% $38

  10. Slide 10: Leading Stabilized Data Center Performance

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Leading Stabilized Data Center Performance Disciplined capital allocation and operating advantages drive continued growth and strong stabilized development returns Stabilized, Expansion and New IBX Data Centers S

  11. Slide 11: Capital Expenditures

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Capital Expenditures A demand-driven program delivering capacity into target markets where our value proposition is increasingly differentiated • Recurring capital expenditures between 2% and 5% of annual revenue

  12. Slide 12: A Growth-Focused Balance Sheet

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data A Growth-Focused Balance Sheet 3.2% blended after-tax borrowing rate with a weighted average maturity of 6.1 years Debt by Currency (4) Recent Capital Markets Activity 19% • Refinanced our existing credit facilit

  13. Slide 13: Guidance Summary

    Guidance Summary © 2026 Equinix, Inc. 13

  14. Slide 14: 2026 Financial Guidance

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data 2026 Financial Guidance Raised outlook for the third consecutive quarter driven by strong underlying business fundamentals and focused execution ($M except AFFO per Share) FY 2026 Q4 2026 $10,325 - 10,365(1) $2,6

  15. Slide 15: Q4 2026 Guidance ($M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Q4 2026 Guidance ($M) Normalized MRR growth Revenues increasing 12 - 13% YoY and reflecting improved margin Adjusted EBITDA Margin Revenues Adjusted EBITDA 10% 10 - 11% 49% 49 - 50% +12 - 13% $2,684 - 2,724 +13%

  16. Slide 16: Full-Year 2026 Guidance ($M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Full-Year 2026 Guidance ($M) Normalized Total Revenues growth Normalized MRR growth Significant underlying Revenues and Adjusted EBITDA raises, reflecting continued momentum and driving margin accretion Adjusted

  17. Slide 17: Full-Year 2026 AFFO Guidance ($M, except per share)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data (1) Full-Year 2026 AFFO Guidance ($M, except per share) $90M AFFO raise, increasing per share growth guidance to 11 - 12% Share Count (Diluted) AFFO per share AFFO per Share (Diluted) Normalized and Constant Curr

  18. Slide 18: Dividend Outlook

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Dividend Outlook Operating and financial performance drives strong dividend growth Annual Cash Dividend per Share Annual Total Cash Dividends Paid ($M) Expected 2026 Cash Dividend of ~$2,037M • Fourth-quarter cas

  19. Slide 19: Company Overview and Supplemental Data

    Company Overview and Supplemental Data © 2026 Equinix, Inc. 19

  20. Slide 20: The Most Global and Comprehensive Digital Ecosystem

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data The Most Global and Comprehensive Digital Ecosystem (1) Providing the infrastructure reach needed for today’s distributed, complex and demanding workloads 282 77 36 230 11,000+ 529,000+ Data Centers Markets Count

  21. Slide 21: Large and Diversified Customer Base

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Large and Diversified Customer Base Top 10 Customers (2) Highly distributed customer base that reflects the critical needs we serve Customer Region Rank % of MRR IBX Count Type Count (1) Customers in Multiple Loc

  22. Slide 22: Portfolio Ownership Composition

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Portfolio Ownership Composition (3) Owned and leased strategy maximizes market opportunity Recurring Revenues by Ownership Lease (1) >=2041 Own 180 of 282 Own 26.5M of 36.3M total Lease (1) <2041 13% Data Centers

  23. Slide 23: Non-Financial Metrics

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Non-Financial Metrics (1) Sustained strength across key non-financial metrics FY2025 FY2026 Interconnection Q3 Q4 Q1 Q2 Q3 Total QoQ • Added 6,900 net interconnections in Q3, Interconnections AMER 225,600 230,200

  24. Slide 24: Debt Maturities

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Debt Maturities (1) 3.2% blended after-tax borrowing rate with a weighted average maturity of 6.1 years USD Senior Notes EUR Senior Notes CHF Senior Notes Green Notes SGD Senior Notes CAD Senior Notes JPY Senior

  25. Slide 25: Retail IBX Data Center Expansion

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Retail IBX Data Center Expansion Expanding to meet robust global demand in a target market where our value proposition is differentiated (1) 2026 2027 2028 2029 Total Capex Metro Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 $US

  26. Slide 26: xScale Data Center Expansion

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data xScale Data Center Expansion xScale broadens our service of high-quality hyperscaler customers Phase Phase Phase Cost Region Project Capacity Leasing Opening ($M) (MW) (MW) 575+ 24 13 MW Leased Operational Facili

  27. Slide 27: Same Store Operating Performance

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Same Store Operating Performance (1) Underlying fundamentals and execution driving strong performance Revenues ($M) Cash Cost, Gross Profit and PP&E ($M) Cash Cost Trailing 4-Qtr Inter- Services/ Total Non- Total

  28. Slide 28: Adjusted Corporate NOI ($M, except data center count)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Adjusted Corporate NOI ($M, except data center count) (1) Calculation Of Adjusted Corp NOI Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 # of Data Centers 258 259 258 257 252 (2) Recurring Revenues $2,399 $2,332 $2,285

  29. Slide 29: Portfolio Operating Performance

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Portfolio Operating Performance (1)(2) Q3 26 Revenues ($M) Total Owned % of # of Data Cabinet Cabinets Cabinet Total Total Category Centers Capacity Billed Utilization % Recurring Recurring AMER Owned 75 128,600

  30. Slide 30: Adjusted NOI Composition - Organic

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Adjusted NOI Composition - Organic (1)(2) Q3 2026 Q3 2026 # of Total Recurring Quarterly Data Cabinet Cabinets Cabinet Revenues Adjusted % of Total Category Centers Capacity Billed Utilization % ($M) NOI ($M) NOI

  31. Slide 31: Components of Net Asset Value

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Components of Net Asset Value Q3 26 Quarterly Adjusted Ownership Reference NOI ($M) Stabilized Owned Adjusted NOI Segments $872 Stabilized Leased Adjusted NOI Segments $377 Expansion Owned Adjusted NOI Segments $

  32. Slide 32: Forecasted Shares (M)

    1. Performance Highlights 2. Guidance Summary 3. Company Overview and Supplemental Data Forecasted Shares (M) Fully Diluted Weighted Average Shares Common Stock Outstanding 99.0 -0.3 ~99.3 98.7 0.6 98.6 ~99.0 98.2 98.2 0.8 1.8 1.7 98.2 1.4 1.4 1.5 Shares Outstanding Est. Employee Est. Shares Est. We

  33. Slide 33: Equinix Leadership and Investor Relations

    Equinix Leadership and Investor Relations Leadership Team Equinix Investor Relations Contacts Raouf Abdel - EVP, Global Operations Phillip Konieczny Adaire Fox-Martin Chris Audie - Chief Product Officer Senior Vice President, Finance Chief Executive Officer and President Nicole Collins - EVP, Busine

  34. Slide 34: Appendix: Supplemental Data, Non-GAAP Financial Reconciliations & Definitions

    Appendix: Supplemental Data, Non-GAAP Financial Reconciliations & Definitions © 2026 Equinix, Inc. 34

  35. Slide 35: Data Center Portfolio Composition – AMER

    Data Center Portfolio Composition – AMER (1) Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Change Summary Atlanta 2 AT1, AT4 AT4 AT1 Bogota 2 BG1 BG2 BG1, BG2 Closed IBX Boston 1 BO2 BO2 Calgary 3 CL1, CL2 CL3 CL3 CL1, CL2 TR4 Chicago 6 CH1, CH3, CH4, CH7 CH2 CH5 CH3, CH5 , CH

  36. Slide 36: Data Center Portfolio Composition – EMEA

    Data Center Portfolio Composition – EMEA (1) (2) Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Change Summary Abidjan 1 AB1 AB1* Abu Dhabi 1 AD1 AD1 Accra 1 AC1 AC1* xScale Amsterdam 9 AM1, AM2, AM3, AM4, AM5, AM6, AM7, AM8, AM11 AM1*, AM2*, AM3*, AM4*, AM5, AM6, AM7* AM8, AM1

  37. Slide 37: Data Center Portfolio Composition – APAC

    Data Center Portfolio Composition – APAC (1) Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Adelaide 1 AE1 AE1 Brisbane 1 BR1 BR1 Canberra 1 CA1 CA1* Chennai 1 CN1 CN1* Hong Kong 6 HK2, HK3, HK4, HK5 HK1 HK6 HK1, HK2, HK3, HK4, HK5, HK6 Jakarta 1 JK1 JK1 Johor 1 JH1 JH1 Kuala L

  38. Slide 38: FX Rates, Hedging and Currencies

    FX Rates, Hedging and Currencies Revenue FX Rates Blended (2) Guidance (1) (2) Blended (3) % of (4) Currency Hedge Rate Guidance Rate Hedge % Revenues Rate USD 1.00 38% EUR to USD 1.13 1.14 1.14 74% 20% GBP to USD 1.33 1.30 1.30 82% 9% USD to SGD 1.28 9% USD to JPY 157 5% USD to AUD 1.44 4% USD to B

  39. Slide 39: Q3 2026 FX and Normalization Disclosure

    Q3 2026 FX and Normalization Disclosure As-reported Normalized As-reported As-reported Underlying FX Normalized Growth % Growth % Q3'26 YoY Q3'25 Q3'26 Impact (1) Hedge (1) Normalizing (2)(3)(4) Q3'26 Q3'26 Q3'26 Revenues AMER 1,035 1,148 (5) - 18 1,162 11% 12% EMEA 784 878 6 (14) 2 873 12% 11% APAC

  40. Slide 40: Non-GAAP Reconciliations

    Non-GAAP Reconciliations © 2026 Equinix, Inc. 40

  41. Slide 41: Non-GAAP Reconciliations

    Non-GAAP Reconciliations © 2026 Equinix, Inc. 41

  42. Slide 42: Non-GAAP Reconciliations

    Non-GAAP Reconciliations © 2026 Equinix, Inc. 42

  43. Slide 43: Non-GAAP Reconciliations

    Non-GAAP Reconciliations © 2026 Equinix, Inc. 43

  44. Slide 44: Non-GAAP Reconciliations

    Non-GAAP Reconciliations Consolidated NOI calculation Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 (unaudited and in $ millions) Revenues 2,571 2,625 2,444 2,420 2,316 Non-Recurring Revenues (NRR)(1) 115 115 96 100 98 (2) Other Revenues 57 178 64 71 53 (1) Recurring Revenues 2,399 2,332 2,285 2,249 2,166

  45. Slide 45: Non-GAAP Reconciliations

    Non-GAAP Reconciliations (unaudited and in $ millions) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 (1) Adjusted EBITDA 1,321 1,396 1,245 1,186 1,148 Adjustments: (2) Non-Recurring Revenues (NRR) (115) (115) (96) (100) (98) (3) Other Revenues (57) (178) (64) (71) (53) (2) Non-Recurring Cash Cost of Reven

  46. Slide 46: Definitions

    Definitions Funds from Operations (FFO): Represents net income attributable to common stockholders excluding: • gain or loss from the disposition of real estate assets • depreciation and amortization expense on real estate assets • adjustments for unconsolidated joint ventures' and non-controlling i

  47. Slide 47: Definitions - Continued

    Definitions - Continued Normalized and Constant Currency: Equinix provides normalized and constant currency growth rates for revenues, adjusted EBITDA, AFFO and AFFO per share. These growth rates assume foreign currency rates remain consistent across comparative periods. Revenues growth rates exclud

  48. Slide 48: Definitions - Continued

    Definitions - Continued Capital Expenditures Recurring Capital Expenditures: Capital spending incurred to extend useful life of IBXs or other Equinix assets that are required to support current revenues. ▪ Sustaining IT & Network: Capital spending necessary to extend useful life of IT & Network infr

  49. Slide 49: EQUINIX

    mT EQUINIX

Equinix — Q3 2026 Earnings Presentation on 6ix