Record leasing from Enterprise, Hyperscale Cloud, and AI-Workloads drive 56% YoY increase in Adjusted EBITDA
Dallas, TX – September 14, 2023 – DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed services, announced today that it had already surpassed its Board approved full year plan for sales and run rate adjusted EBITDA by the end of Q2, powered by unprecedented demand for data center capacity and reinforcing the company’s metro edge strategy of delivering capacity in a large number of Tier I and Tier II markets.
DataBank ended the first half of 2023 at 135% of its entire 2023 sales plan noting that it had leased over 60MW of capacity in Q2 alone, driven by exceptional demand from hyperscale cloud and emerging AI workloads. The company also noted that its Q2 2023 run rate adjusted EBITDA represented a 56% growth rate over Q2-2022 results.
The record leasing performance comes at the same time DataBank has been successfully raising the capital needed to keep up with market demand. In March, the company announced it had issued $715 million of secured notes, its third securitization offering since 2021, and in April it secured a $350 million credit facility to fund continued expansions. DataBank plans another sale of investment grade securitized debt later this year.
“DataBank delivered exceptional results in the second quarter and year-to-date and is significantly ahead of plan,” said Raul K. Martynek, the company’s CEO. “The investments we have made over the last two years in expanding our geographic footprint into 27+ markets and accelerating data center development are being rewarded. We expect this momentum to continue into Q3 and the rest of the year.”
In addition to record-breaking leasing performance, the company also noted a number of operational achievements in the 1st half of 2023 including:
• Groundbreaking of a new 40MW facility in Atlanta
• Expansions of facilities in Irvine, San Diego and Seattle
• Opening of the NJIT supercomputer in the Piscataway NJ data center
• Recognition as an EPA “Green Power Partner” for the 3rd consecutive year
• Achieving a best-in-class employee NPS score of 43 over the first half of 2023
• Unveiling a new “Universal Data Hall Design” that can flexibly deliver HPC, Hyperscale cloud, or traditional enterprise workloads
“This is a great time to be in the data center business, and DataBank is exceptionally well-positioned to continue to benefit from what we see as the next great wave of technology deployments being driven by the adoption of AI.” added Martynek.
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