Megaport Limited (ASX: MP1) has issued an updated FY24 guidance. The company's continuous operational and financial enhancements have led to an estimated FY24 EBITDA range of AU$51 million to AU$57 million, showcasing a remarkable rise of 152% to 182% compared to FY23's normalized EBITDA of AU$20.2 million. This also represents a growth of about 24% over the previously stated FY24 guidance provided on April 28, 2023. The anticipated FY24 Revenue is set to be between AU$190 million to AU$195 million, marking a surge of 24% to 27% from FY23's AU$153.1 milllion Revenue.
Additionally, Megaport affirms its expectation of achieving Net Cash Flow positivity for the entire FY24. This guidance takes into consideration projected sales team expansion, and planned capital spending, and excludes potential strategic initiatives. Megaport is renowned for offering Network as a Service (NaaS) solutions, powered by its global Software Defined Network (SDN), which simplifies network-to-service connections for businesses through an intuitive portal and open API.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
