Equinix, Inc. stock research
FY2026 Q1
Equinix (EQIX) Gross Margin & Quarterly History
Explore Equinix, Inc. (EQIX) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue was unchanged sequentially but higher than the same quarter last year, while gross profit increased both sequentially and year-over-year. Gross margin improved from the prior quarter and was slightly above the year-ago level, reflecting a higher gross profit relative to cost of revenue.
- The strongest observable margin driver is the sequential improvement in gross margin, which increased despite revenue remaining flat, indicating that the relationship between gross profit and cost of revenue shifted favorably. The improvement occurred as gross profit rose while cost of revenue held steady.
- Compared to the immediately preceding quarter, gross margin was higher, with gross profit increasing while cost of revenue was unchanged. Compared to the same quarter one year earlier, gross margin was slightly higher, supported by a larger increase in revenue relative to cost of revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
51.5%
Gross profit
$1.3B
Revenue
$2.4B
Cost of revenue
$1.2B
Quarter-over-quarter change
+1.0 pts
Year-over-year change
+0.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $2.3B | $1.2B | $1.1B | 52.0% |
| Sep 30, 2025 | $2.3B | $1.2B | $1.1B | 50.7% |
| Dec 31, 2025 | $2.4B | $1.2B | $1.2B | 50.5% |
| Mar 31, 2026 | $2.4B | $1.3B | $1.2B | 51.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
+1.0 pts
Year-over-year change
Mar 31, 2025
+0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the sequential improvement in gross margin, which increased despite revenue remaining flat, indicating that the relationship between gross profit and cost of revenue shifted favorably. The improvement occurred as gross profit rose while cost of revenue held steady.
Compared to the immediately preceding quarter, gross margin was higher, with gross profit increasing while cost of revenue was unchanged. Compared to the same quarter one year earlier, gross margin was slightly higher, supported by a larger increase in revenue relative to cost of revenue.
Monitor the trajectory of cost of revenue relative to revenue, as a stable cost base was a key factor in the current margin improvement.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| Equinix, Inc. (EQIX) | 51.5% |