Megaport (ASX:MP1) reports net loss for the half at $38.4 million

Company News

by Rachael Jones

Megaport (ASX:MP1) today reported its first half earnings to 31 December 2020 showing the Company’s revenue was $36 million, an increase of $10.1 million or 39 per cent from the same period.

Net loss for the half-year period was $38.4 million.

Monthly Recurring Revenue for the month of December 2020 was $6.3 million, an increase of $1.7 million or 37 per cent from the month of December 2019.

Both Revenue and MRR growth in the half-year period were impacted by the continued appreciation in the Australian dollar, particularly against the US dollar.

Shares in Megaport (ASX:MP1) are trading 2.95 per cent higher at $13.62.