Equinix, Inc.

“Our cabinet utilization rates were approximately 77% and 78%, as of December 31, 2025 and 2024, respectively.”

“Since our inception, Equinix has been a network-neutral, multi-tenant data center ("MTDC") provider”

“global footprint of International Business ExchangeTM (IBX®) and xScaleTM data centers in the Americas, Asia-Pacific, and Europe, the Middle East and Africa ("EMEA") regions”

“With over 10,500 customers, including 2,000+ network service providers and a leading market share of cloud-on ramps, our position is unmatched in the industry.”

“designed to serve the unique core workload deployment needs of a targeted group of hyperscale companies, which include the world's largest cloud service providers”

“We offer the following solutions: •premium data center colocation; •physical and virtual interconnection and data exchange solutions;”

“xScale Data Centers are designed to serve the unique core workload deployment needs of a targeted group of hyperscale companies”

“These offerings are typically billed based on the space and power a customer consumes in our IBX data centers, are delivered under a fixed duration contract and generate monthly recurring revenue ("MRR")”

“IBX Data Centers are our carrier-neutral colocation data centers, providing our customers with the secure, reliable and robust environments (including space and power)”

“We completed our acquisition of all outstanding shares of TIM NextGen DC Corporation, consisting of three data centers in the Philippines, for total purchase consideration of $183 million.”

“We closed strategic land acquisitions in several locations, including the greater Amsterdam, Chicago, London, Milan, Mumbai and Toronto metros, which will support approximately 1 GW of retail and xScale capacity.”

“This adjacency creates a network effect that attracts new customers while continuously enhancing our value proposition to existing customers”

“AI as a catalyst for ecosystem acceleration: AI adoption is increasing the need for distributed, interconnected digital infrastructure.”

“Critical workflows—including digital payments, supply chain telemetry, smart manufacturing, telemedicine, and AI inference—depend on high-performance connectivity.”

“With over 10,500 customers, including 2,000+ network service providers and a leading market share of cloud-on ramps, our position is unmatched in the industry.”

“Our extensive global footprint spans 280 data centers, in 77 markets in 36 countries.”

“This increased power consumption, which we expect to accelerate with the adoption of AI, has driven us to build out our new IBX data centers to support power and cooling needs twice that of previous IBX data centers.”

“Throughout 2025, we issued $4.3 billion of senior notes due between 2029 and 2034. The issuances were denominated in euros, U.S. dollars, Singapore dollars and Canadian dollars”

“As of December 31, 2025, our total indebtedness (inclusive of finance lease liabilities and gross of debt issuance costs and debt discounts) was approximately $21.4 billion”

“Under the $2.0 billion 2024 ATM Program, we may, from time to time, issue and sell shares of our common stock to or through sales agents up to established limits. As of December 31, 2025, we had approximately $1.2 billion available for sale under the 2024 ATM Program.”

“In 2025, we opened 16 new data centers, including new sites added via our joint ventures and acquisitions.”

“We had 52 active major development projects underway as of January 2026 across 35 metros around the world. We anticipate these development projects will deliver 55,000+ cabinets of retail capacity and 100+ MW of xScale capacity through 2028.”

“During the year ended December 31, 2025, we had total Annualized Gross Bookings of $1.6 billion, up 27% from 2024.”

“Net cash provided by operating activities$3,911 $3,249 $662”

“FFO attributable to common stockholders$2,668 $2,061 $2,130”

“to serve the growing hyperscale requirements, we have entered into joint venture partnership arrangements across our Americas, EMEA and Asia-Pacific regions to develop and operate xScale data centers.”

“Equinix was incorporated on June 22, 1998 as a Delaware corporation and operates as a REIT for federal income tax purposes.”

“the global regulatory landscape on corporate sustainability reporting has continued to expand in both size and complexity across other parts of the world in which we operate.”

“Geopolitical events, including trade tensions between the U.S. and other countries, the war between Russia and Ukraine, and ongoing conflicts in the Middle East, could negatively affect our global operations”

“On November 19, 2025, we received correspondence from the SEC indicating that the agency had concluded its investigation and does not intend to recommend an enforcement action.”

“Fluctuations in foreign currency exchange rates, especially the strength of the U.S. dollar, in the markets in which we operate internationally could harm our results of operations.”

“Rising prices for materials related to our IBX data center construction and our data center offerings, energy and gas prices, as well as rising wages and benefits costs negatively impact our business by increasing our operating costs.”

“as a result of the increase in demand for AI infrastructure, we are anticipating chip shortages relative to those experienced in the market in prior years.”

“The adverse economic conditions we are currently experiencing, including the impact of increased tariffs and inflation, may also impact our customers and cause a decrease in sales”

“Given current market conditions, there is a risk that we may not be able to refinance existing debt or the terms of any refinancing may not be as favorable as the terms of our existing debt.”