Equinix Sees 35% YoY Increase in Net Income in 2021

Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, has reported results for the quarter and year ended December 31, 2021. Equinix uses certain non-GAAP financial measures, which are described further below and reconciled to the most comparable GAAP financial measures after the presentation of our GAAP financial statements. All per share results are presented on a fully diluted basis.

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2021 Results Summary:

• Revenues: $6.636 billion, an 11% increase over the previous year on an as-reported basis or 8% on a normalized and constant currency basis

• Operating Income: $1.108 billion, a 5% increase from the previous year, and an operating margin of 17%, largely due to strong operating performance and lower acquisition costs offset in part by increased investments to support the expanded scale and reach of the business

• Adjusted EBITDA: $3.144 billion, a 47% adjusted EBITDA margin; Includes $15 million of integration costs

• Net Income and Net Income per Share attributable to Equinix: $500 million, a 35% increase from the previous year, primarily due to lower interest expense and debt extinguishment costs related to balance sheet refinancing initiatives; $5.53 per share, a 32% increase from the previous year

• AFFO and AFFO per Share: $2.451 billion, a 12% increase over the previous year or 10% on a normalized and constant currency basis; $27.11 per share, a 9% increase over the previous year on both an as-reported and normalized and constant currency basis; Includes $15 million of integration costs

Charles Meyers, President and CEO, Equinix: "Businesses globally continue to prioritize digital transformation as a foundational source of competitive advantage. While achieving our 76th consecutive quarter of top-line growth in 2021, Equinix also made significant progress in scaling and transforming our data center business and in accelerating our digital services portfolio to deliver on the promise of physical infrastructure at software speed. As we enter 2022, the underlying performance of our business is exceptionally strong, and we remain well positioned to deliver against our long-term targets and strengthen our position as the world's digital infrastructure company."

Equinix continued to expand the reach of its global platform which now encompasses 240 data centers across 66 metros in 27 countries.