The NEXTDC Ltd (ASX: NXT) share price will be on watch on Friday after the company reported FY26 net revenue of $405 million, up 16%, and statutory NPAT swinging to a $82.1 million profit.
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What did NEXTDC report?
- Total revenue rose 16% to $496.5 million
- Net revenue grew 16% to $405.0 million (above guidance)
- Underlying EBITDA lifted 15% to $248.8 million (above guidance)
- Statutory NPAT turned positive at $82.1 million, up from a $60.5 million loss
- Contracted utilisation surged 202% to 740.1MW
- Record capital expenditure of $3,397 million
- Pro forma liquidity increased 58% to $8.7 billion
What else do investors need to know?
NEXTDC delivered record contracted utilisation and Forward Order Book, with 565.1MW at year end — over three times billing utilisation. Development ran ahead of schedule, with 80MW of new capacity added in FY26 and progress continuing at key sites in Sydney, Melbourne, and Kuala Lumpur.
The company's $3.4 billion capex for the year was $397 million above the top end of its guidance, reflecting land acquisitions and accelerated construction to meet customer delivery dates. Pro forma liquidity is now $8.7 billion after $9.75 billion in new capital was raised since August 2025, positioning NEXTDC to execute its extensive development pipeline.
NEXTDC's data centre portfolio and Forward Order Book are unaffected by proposed state and national reforms in energy regulation. The company remains actively engaged in industry discussions and is well capitalised to manage any regulatory changes.
What did NEXTDC management say?
NEXTDC's CEO, Craig Scroggie, commented:
FY26 was the largest contracting year in NEXTDC's history. Contracted utilisation tripled to 740.1MW on a pro forma basis, and we exceeded guidance on both net revenue and Underlying EBITDA. Our Forward Order Book of 565MW is now more than 3.2 times our billing utilisation, and our focus is on delivering that capacity and converting it into revenue and cash inflow.
Since August 2025 we have also raised A$9.75 billion8 of new capital, taking pro forma liquidity from A$5.5 billion to A$8.7 billion and providing significant capital to deliver the contracted capacity and grow our development pipeline.
What's next for NEXTDC?
For FY27, NEXTDC has guided for net revenue between $615 million and $640 million and underlying EBITDA of $385 million to $410 million, representing expected growth of over 50%. Capital expenditure is forecast at a record $5.25 to $5.75 billion, supporting the build-out of 197MW of contracted capacity converting to billing within the year.
Billing is expected to ramp up significantly, with a further 221MW scheduled to convert in FY28. NEXTDC's national footprint, rapidly growing customer pipeline, and significant liquidity underpin its confidence in continued expansion across metro, edge, and international markets.
NEXTDC share price snapshot
The NextDC share price has underperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a decline of almost 2%.
