GDS Holdings reported Q2 2024 net revenue of RMB2.83 billion ($388.9 million), up 14.3% YoY, with normalized growth of 17.7% excluding one-time items. Net loss was RMB231.8 million ($31.9 million), while Adjusted EBITDA increased 6.2% YoY to RMB1.31 billion ($180.6 million).Operating metrics showed strong growth with total area committed rising 18.7% YoY to 756,992 sqm, area in service up 18.8% to 630,963 sqm, and area utilized increasing 20.9% to 462,673 sqm. The company achieved significant expansion in Southeast Asia, securing major new customer orders in Johor, Malaysia.The company strengthened its financial position through an equity raise for international business, with GDSI receiving gross proceeds of $672 million from Series A Convertible Preferred Shares issuance. Management maintains its 2024 guidance of total revenues RMB11.34-11.76 billion and Adjusted EBITDA RMB4.95-5.15 billion.

GDS Holdings reported Q2 2024 net revenue of RMB2.83 billion ($388.9 million), up 14.3% YoY, with normalized growth of 17.7% excluding one-time items. Net loss was RMB231.8 million ($31.9 million), while Adjusted EBITDA increased 6.2% YoY to RMB1.31 billion ($180.6 million).Operating metrics showed strong growth with total area committed rising 18.7% YoY to 756,992 sqm, area in service up 18.8% to 630,963 sqm, and area utilized increasing 20.9% to 462,673 sqm. The company achieved significant expansion in Southeast Asia, securing major new customer orders in Johor, Malaysia.The company strengthened its financial position through an equity raise for international business, with GDSI receiving gross proceeds of $672 million from Series A Convertible Preferred Shares issuance. Management maintains its 2024 guidance of total revenues RMB11.34-11.76 billion and Adjusted EBITDA RMB4.95-5.15 billion.