NEXTDC Limited has announced a material update on contracted utilisation, with pro forma contracted utilisation reaching 740MW as at 30 June 2026. The increase of 73MW since April 2026 represents 11% growth in just two and a half months, reflecting strong customer demand for the company’s data centre services.
The announcement also highlights the company’s forward order book, which has expanded to 565MW. This represents the pipeline of capacity already contracted but not yet billed, calculated as the difference between the 740MW contracted utilisation and the current 175MW billing utilisation. The forward order book is expected to convert progressively to billings, revenue and EBITDA over the FY26 to FY30 period, providing NEXTDC with substantial visibility into future earnings generation.
For investors, the 11% growth in contracted utilisation demonstrates robust customer acquisition in the competitive data centre market. The 565MW forward order book provides four years of earnings visibility, reducing uncertainty around medium-term revenue trends. The large gap between contracted and billing utilisation also suggests NEXTDC has built a substantial buffer against economic softness, as these services are already sold and contracted.
NEXTDC’s management has maintained FY26 guidance for net revenue, underlying EBITDA and capex despite these customer wins. This indicates the strong contracted utilisation growth was already anticipated when previous guidance was issued in April. The market should not expect material upside to near-term results from this announcement, though the guidance maintenance also confirms the company’s current capex plans remain appropriately scaled to meet contracted demand.
NEXTDC operates within a favourable structural environment. As an Asia-focused data centre operator with Tier IV Gold certified facilities and carbon neutral operations, the company benefits from secular trends driving cloud adoption and digital transformation. The company’s customer wins reflect the ongoing shift of enterprise IT workloads to third-party data centre and cloud platforms.
The announced figures exclude contractual expansion options and reservations applicable to hyperscale customers. This means the 740MW contracted utilisation understates the company’s total committed capacity, with additional upside embedded if these large customers exercise expansion rights. Investors should track the progression of the 565MW forward order book into billings and revenue through quarterly updates and financial results. Capital deployment efficiency deserves attention as NEXTDC executes its capex programme, while margin trends and energy cost inflation in the data centre sector warrant ongoing monitoring. This announcement is price sensitive and has been flagged as material by the ASX.
View the full ASX announcement (PDF)
About NEXTDC Limited (ASX: NXT)
NEXTDC Limited develops and operates data centers in Australia and the Asia-Pacific region. The company offers data center colocation solutions, high-performance computing, disaster recovery services, and various digital infrastructure solutions to enterprise clients, government agencies, and cloud providers. Headquartered in Brisbane, Australia, NEXTDC provides critical connectivity and infrastructure services across its network of facilities.
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