Equinix Reports Record $394 Million Annualized Gross Bookings and 8% Revenue Growth in Q3 2025
Equinix Inc. reported record annualized gross bookings of $394 million in the third quarter of 2025, a 25% increase year over year and 14% higher than the previous quarter. Monthly recurring revenue rose by 8% compared to the same quarter last year on both an as-reported and a normalized, constant currency basis. For the fourth quarter of 2025, Equinix provided revenue guidance of $2,411 million to $2,531 million, compared to the third quarter figure of $2,318 million, representing an increase of approximately 7%. Adjusted EBITDA guidance for the fourth quarter is between $1,187 million and $1,267 million, up from $1,151 million in the third quarter, also an increase of about 7%. The reported margin for both the third and fourth quarters stands at 49.6%. Business developments in the period include a significant recurring revenue step-up and net recurring revenue primarily related to increased xScale activity. Cabinet utilization rates in the Americas and EMEA regions were reported at 81% and 77% respectively for owned data centers in the third quarter.
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