Carrier Connect Data Solutions Reports Record Q3 2026 Financial Results

Carrier Connect Data Solutions reported its fiscal Q3 2026 results (period ended March 31, 2026). Revenue leaped 849% year-over-year to $910k, gross profit rose 661% to $295k, and cash stood at $9.9 million following the $10.5 million February private placement. The company now manages 5 data centers after closing the Saint John, NB acquisition on February 27, 2026 (only one month of operations included in the quarter). Subsequent to quarter-end, it closed the purchase of Morewave Communication’s network connectivity assets (expected to add ~$725k annual revenue) and signed a non-binding LOI to acquire Rochester Colo LLC’s data center in New York – its first US entry. CEO Mark Binns highlighted the hiring of a Chief Revenue Officer and stated the company has the capital to continue its roll-up strategy. A new five-year co-location agreement with Ross Video at PureColo’s Ottawa facility was also announced in late March. The Q3 revenue included contributions from PureColo (acquired December 2025) and a partial quarter from Saint John. No financial statements or guidance were provided beyond the topline figures.

The revenue growth is dramatic, but entirely expected – it reflects the consolidation of newly acquired assets that were announced well before the quarter. PureColo was forecast to generate C$2.35 million of annual revenue, Saint John added a new facility, and the Ross Video deal demonstrates organic traction. However, the market had already priced in these acquisitions when the shares ran from $1.70 to $2.20 in January. Since then, the stock has more than halved, touching $1.00, and currently sits at $1.15 – well below the $1.60 unit price of the February $10.5M placement and the $2.10 warrant strike. Thus, the reported numbers are positive but unlikely to change the negative sentiment caused by heavy dilution, execution risk, and the sustained downtrend. The gross margin of 32% is modest for a data center business, and operating expenses are not disclosed, so pro‑forma profitability cannot be assessed. The cash position of $9.9M is strong, but the company will need to deploy it effectively. The news is incremental – confirming the roll-up is working – but lacks a new material positive catalyst. Therefore, it fits a “Routine – Positive” classification.

Carrier Connect Data Solutions Inc. (TSXV: CCDS) is a data center consolidator focused on acquiring and operating Tier II/III colocation facilities. The company pursues a global roll‑up strategy, currently owning 5 data centers: Vancouver, Ottawa (two facilities under the PureColo brand), Saint John, New Brunswick, and Perth, Australia. Through the acquisition of Morewave Communication’s network assets, it now also offers last‑mile connectivity services to its colocation clients. The flagship project is the build‑out of a pan‑North American (and eventually global) network of mid‑market data centers, catering to enterprise, AI, service provider, and SMB customers. CEO Mark Binns leads the acquisition‑heavy growth plan.