GDS GDS Holdings (GDS) Q2 FY26 earnings call
GDS Holdings reported record bookings in Q2 FY26, driven by strong AI-related demand from hyperscalers and emerging AI leaders, leading to a raised full-year sales target of 1 gigawatt. The company is strategically expanding capacity in new markets and maintaining financial discipline with robust project-level financing. While facing a near-term slowdown in MRR due to legacy contracts, management anticipates substantial move-in acceleration and EBITDA growth in 2027 and 2028.
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GDS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Backlog | <600 MWOur backlog has increased to over 200,000 square meters or almost 600 megawatts most of which we will become billable within the next 6 to 8 quarters.Source: earnings call transcript | 757 MWBy the middle of the year, our backlog had increased substantially to 757 megawatts.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.