Megaport’s (ASX:MP1) losses have retreated for the six months ending December 2017, to $13.3 million, representing a 3.27 per cent boost from the $13.8 million net loss the company reported for the same period the year prior.
During the half-year, Megaport invested $6 million cash into its network and ecosystem expansion. Of this amount, $3.6 million was invested in rolling out additional data centres globally, including setting up its Europe sites and adding additional sites in North America.
Meanwhile, $2.4 million was invested in the company’s software development and innovation including its recently-launched Megaport Cloud Router (MCR), among other items.
After direct network costs, the company reported a $2.1 million profit for the half-year period, compared to a loss after direct network costs of $831,000 in the same period ended 31 December 2016.
“The first half of fiscal year 2018 saw the company driving increased adoption of Megaport services which grew significantly while we continued to expand our network footprint into markets underserved by cloud connectivity,” Megaport CEO, Vincent English, said.
Looking forward, English said Megaport will further deepen its integration with the hyperscalers to maximise ease-of-use while bringing more managed and network service providers into its ecosystem.
“In the second half of the year we will continue to work with our partners to accelerate service adoption and drive greater revenue,” he said.