Csquare Reports Third Quarter 2026 Results and Business Highlights
Key Highlights
- ➤Revenue $302.3M, up 25.6% year over year
- ➤Adjusted EBITDA $132.1M, up 44.3%; margin expanded to 47.8%
- ➤2026 revenue outlook $1.14B-$1.16B; Adjusted EBITDA raised to $490M-$500M
- ➤Record bookings $66.1M mark 14th consecutive quarter of sequential growth
- ➤IPO proceeds $1.16B enabled repayment of approximately $1.1B debt
Expert Statements
Spencer Mullee, Chief Executive Officer of Csquare
“Our third quarter results demonstrate strong and disciplined execution by our team and continued momentum across the business,”
Spencer Mullee, Chief Executive Officer of Csquare
“We delivered strong revenue growth, record bookings and meaningful operating leverage while continuing to benefit from strong demand for our carrier-neutral digital infrastructure platform.”
Spencer Mullee, Chief Executive Officer of Csquare
“These results reflect the solidity of our recurring revenue model and low net revenue churn, the strength of customer demand across our markets, and the operating leverage inherent in our business as Adjusted EBITDA margin expanded to 47.8% from 40.5% in the prior year period.”
Spencer Mullee, Chief Executive Officer of Csquare
“Following our initial public offering in July, which resulted in $1.1 billion of debt reduction, our business is well positioned to continue executing on our strategy to deliver high-quality digital infrastructure across our urban core-focused portfolio.”
Spencer Mullee, Chief Executive Officer of Csquare
“Demand for our offering remains strong and continues to accelerate.”
Spencer Mullee, Chief Executive Officer of Csquare
“The strength of our platform is resonating in the market across traditional enterprise and higher density deployments as new and existing customers deploy and expand workloads on our platform.”
Spencer Mullee, Chief Executive Officer of Csquare
“We believe our diversified portfolio, disciplined capital allocation strategy, and deep customer relationships position Csquare to continue capitalizing on a strong demand and pricing environment.”
Spencer Mullee, Chief Executive Officer of Csquare
“We remain focused on targeting high-quality customers, a diverse set of customers spanning multiple industries, and contracts that provide long-term, predictable cash flow.”
Csquare Reports Third Quarter 2026 Results and Business Highlights PR Newswire
* Delivered 25.6% year-over-year revenue growth to $302.3 million, reflecting sustained demand and continued customer deployments across Csquare's enterprise infrastructure platform. * Achieved record bookings of $66.1 million, marking Csquare's 14th consecutive quarter of sequential bookings growth across enterprise, network, cloud and higher-density deployments. * Entered Q4 with approximately $114 million of contracted annualized revenue backlog, including approximately $104 million expected to commence over the next twelve months. * Continued to expand capacity to meet contracted demand, commissioning approximately 12 MW during Q3 and ending the quarter with 428 MW contracted against 397 MW of sellable capacity. * Maintained strong customer retention, with quarterly net revenue churn of 1.9% and continued strength in advance customer commitments. * Continued disciplined capital deployment, investing $149 million in growth at an average build multiple of approximately 4x and approximately $16 million in recurring capital expenditures. * Reported net loss of $88.1 million, primarily reflecting $58.6 million of IPO-related transaction and compensation costs, as well as higher year-over-year interest expense. Net margin for the quarter was (29.2%). * Adjusted EBITDA increased 44.3% to $132.1 million, with Adjusted EBITDA margin expanding to 47.8% from 40.5%. * Strengthened the balance sheet following the July IPO, using proceeds to repay approximately $1.1 billion of debt. DALLAS, Nov. 9, 2026 /PRNewswire/ -- Csquare, Inc. (NYSE: CSQR) ("Csquare" or the "Company"), a leading provider of carrier-neutral data center solutions, today reported financial results for its fiscal third quarter ended September 30, 2026.
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