Data center provider Csquare reports revenue rise in US IPO filing
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E-mailJune 16 (Reuters) - Data center provider Csquare on Tuesday revealed a rise in annual and quarterly revenue in its filing for an initial public offering in the U.S.
Activity in the U.S. IPO market has seen a rebound as several sectors seek to capitalize on the investor enthusiasm for fresh stocks, with many companies seeing a strong reception on their debut days.
Elon Musk's SpaceX went public in New York on Friday after a record-breaking IPO. AI giants Anthropic and Sam Altman's OpenAI have also filed confidentially to go public in the U.S.
The rapid shift toward AI development and deployment is driving a surge in demand for the type of infrastructure provided by Csquare, a data center operator that provides space, power and connectivity solutions.
Dallas-based Csquare provides services to enterprise and hyperscale customers. It operates more than 80 data centers across 30 markets in North America and Europe, according to its website.
The company also has strategic relationships with technology service distributors, including Bridgepoint, Intelisys, Telarus, Avant and Sandler Partners. It did not reveal the terms of the offering in the filing.
Csquare reported a net loss of 14 cents per share on revenue of $270.5 million in the three months ended March 31, compared with a loss of 7 cents per share on revenue of $232.8 million in the year-ago period.
Annual revenue for the year ended 2025 also saw an 8.8% rise over the year earlier.
Csquare intends to list its shares on the New York Stock Exchange under the ticker symbol "CSQR". Morgan Stanley, TD Securities, Wells Fargo Securities and BofA Securities are among the underwriters to the offering.
Csquare had in April made a confidential filing to go public.
(Reporting by Pritam Biswas in Bengaluru)
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