Megaport Trading Update $12.82

The stock was down -1.31% today after providing a business update this morning while outlining the appointment of a new Chief Revenue Officer to be based in the US. In terms of the business update, they talked a big game and the business is growing, however growth rates are a shade below where we were hoping they would be. Todays update showed top line sales increased by 8% on the quarter and 35% YoY however that has them doing~ $80m sales for FY21, around a $4m miss to expectations. In any case, Monthly Reoccurring Revenue (MRR) continued to expand, again, at a slightly more modest rate than we thought they would. We remain holders for now in the growth portfolio.

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Megaport (MP1)

LAST UPDATED 19/01/2021 17:13

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Megaport (MP1)

LAST UPDATED 19/01/2021 17:13