Equinix — Apr 30, 2025 release

With 28 years of experience in leading extensive digital transformations within the technology infrastructure sector, Mehta brings substantial expertise to drive the company's digital transformation and innovation strategy, leveraging emerging technologies to enhance customer experience, improve operational efficiency and foster innovative business models. Business Outlook 2025 Guidance (in millions, except per share data) Prior FY 2025 Guidance Underlying Foreign Exchange Impact Revised FY 2025 Guidance Q2 2025 Guidance Revenues $9,033 - 9,133 +$7 +$135 $9,175 - 9,275 $2,244 - 2,264 Adjusted EBITDA Adjusted EBITDA Margin % $4,386 - 4,466 ~49% +$7 +$78 $4,471 - 4,551 ~49% $1,095 - 1,115 ~49% AFFO $3,606 - 3,686 +$17 +$52 $3,675 - 3,755 AFFO per Share (Diluted) $36.69 - 37.51 +$0.14 +$0.53 $37.36 - 38.17 Non-recurring Capital Expenditures (includes xScale) $2,985 - 3,215 +$114 +$69 $3,168 - 3,398 Recurring Capital Expenditures % of revenues $237 - 257 ~3% +$14 +$7 $258 - 278 ~3% $49 - 69 2 - 3% Expected Cash Dividends ~$1,835 +$1 - ~$1,836 For the second quarter of 2025, the company expects revenues to range between $2.244 and $2.264 billion, an increase of 1% at the mid-point over the previous quarter or flat on a normalized and constant currency basis, excluding the quarter-over-quarter impact of the power pass-through. This guidance includes a $37 million step-up from recurring revenues and a $38 million foreign currency benefit when compared to the average FX rates in Q1 2025, offset by $38 million of lower sequential non-recurring revenues related to completion of xScale fit-out activity in Q1 2025. Adjusted EBITDA is expected to range between $1.095 and $1.115 billion. This guidance includes a $23 million foreign currency benefit when compared to the aver