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EQUINIX INC

For the period ended Mar 31, 2025. Filed Apr 30, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 30, 2025

EQIX$1,012.71+1.5%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2025

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-40205

(Exact name of registrant as specified in its charter)

Delaware77-0487526
(State of incorporation)(I.R.S. Employer Identification No.)

One Lagoon Drive, Redwood City, California 94065

(Address of principal executive offices, including ZIP code)

(650)598-6000

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading symbolName of each exchange on which registered
Common Stock, $0.001EQIXThe Nasdaq Stock Market LLC
0.250% Senior Notes due 2027The Nasdaq Stock Market LLC
1.000% Senior Notes due 2033The Nasdaq Stock Market LLC
3.650% Senior Notes due 2033The Nasdaq Stock Market LLC
3.250% Senior Notes due 2031The Nasdaq Stock Market LLC
3.625% Senior Notes due 2034The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☒

The number of shares outstanding of the registrant's Common Stock as of April 29, 2025 was 97,818,991.

INDEX

PageNo.
Summary of Risk Factors4
Part I - Financial Information
Item 1.Condensed Consolidated Financial Statements (unaudited):6
Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 20246
Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 20247
Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2025 and 20248
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 20249
Notes to Condensed Consolidated Financial Statements10
Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations37
Item 3.Quantitative and Qualitative Disclosures About Market Risk53
Item 4.Controls and Procedures54
Part II - Other Information
Item 1.Legal Proceedings55
Item 1A.Risk Factors55
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds83
Item 3.Defaults Upon Senior Securities83
Item 4.Mine Safety Disclosure83
Item 5.Other Information84
Item 6.Exhibits85
Signatures92
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.