Credit: DC Two
Publicly listed data centre provider DC Two posted a $4.3 million loss for the year ended 30 June 2022, an increase of 20 per cent year-on-year.
The Perth-headquartered company last year made a loss of $3.5 million and saw major costs resulting from the cancellation of 5,000,000 management performance rights, valued at $1.3 million, as well as depreciation expenses of $1.1 million in FY22.
However, its loss increase came as the company’s revenue jumped from $1.7 million to $4.2 million, a rise of 143 per cent.
In May this year, the company appointed Blake Burton to take over as its new managing director for the 2023 financial year.
The leadership change came as the company aims to establish itself as “major data centre and professional services provider with a national footprint”.
Building on these ambitions, DC Two has opened a new modular data centre in Victoria, which is now said to be operational and generating revenue.
Initial revenue from the site is expected to be recognised in the July-September quarter and is estimated to generate $1 million per year for DC Two.
The data centre will have initial capacity of 800kw via DC Two’s module, with total site capacity expected to increase to 1.2MW as DC Two seeks an agreement to access and sell space in LMS Energy’s module.
The current contract has sold approximately 763kw of power for DC Two’s module, with all customer equipment in the process of being installed and commissioned over the coming weeks. DC Two told shareholders it is continuing to work towards selling the remaining capacity to additional customers.
“Our Victoria and Mid-West data centres are expected to provide a stable, predictable revenue stream for the company and are nowa proven, first of its kind concept in Australia,” Burton said.
“These two regional data centres will very shortly be generating almost two times more revenue per year than the company made in FY21. We expect this revenue growth trajectory to continue as we execute our strategy to become profitable in the future.”
