GDS Holdings Limited (GDS) Earnings Call Transcripts

GDS Holdings Limited's Latest Earnings Call - Q1 FY2026

In Q1 2026, GDS Holdings Limited reported a 7.9% increase in revenue and an 8% rise in adjusted EBITDA, driven by strong data center demand fueled by AI developments. The company maintained its full-year guidance, indicating confidence in continued growth. Management highlighted a robust bookings pipeline, with 340 megawatts already secured year-to-date, and a target of 500 to 800 megawatts annually over the next three years. This positions GDS well for sustained expansion, supported by a strong balance sheet and strategic investments.

Reported metrics

Guidance from management

GDS maintained its full-year guidance, with plans to add 500 to 800 megawatts of new bookings annually over the next three years. The company is confident in reaching or exceeding its 2026 sales target of at least 500 megawatts.

What management said

Yes, Liu, I think this will -- I think in the last earnings call, we already say the new incremental demand, which is driven by the AI, right, the large-scale data center demand. In general, I mean, the price pretty stable, number one. Number two, I think the -- of course, in the whole market, you cannot stop some bidder, right, and use some price tools try to win there. But it's not normal, right? It's not normal....

Yes. I try to add a couple of color. I mean number one, the scale is unprecedented, right? So scale also make a cost a bit lower, right? That's fair nature. I mean, this is the number one, even for the vendor perspective, scale that's larger scale gives a lot of the manufacturing product company, a lot of benefit, right? So they're willing to reduce the cost release price. This is the number one. And number two, I ...

What analysts pressed on

Analysts expressed concerns about the pricing environment in different markets and the potential impact of aggressive bidding. There were also questions regarding the development cost reductions and the sustainability of current growth rates.

Main topics on the call

• AI-Driven Demand — William Huang noted a 'resurgence in data center demand driven by AI,' with customers planning 'unprecedented scale' deployments. The company is targeting 500 to 800 megawatts of new bookings annually, supported by a 'mu...
• Financial Position — Daniel Newman reported that GDS is 'sitting on over RMB 19 billion or USD 2.7 billion of cash and time deposits,' positioning the company well for its next growth phase.
• Stable Pricing Environment — Management stated that the 'overall pricing environment is stable,' despite some aggressive bidding in certain markets. This stability supports predictable financial returns.
• Development Costs — Development costs have decreased by about 15% over the past three years, attributed to 'unprecedented scale' and changes in 'architecture-wise' for AI data centers.

Read the full GDS Holdings Limited transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 30 GDS Holdings Limited earnings call transcripts on record, spanning February 26, 2020 to May 20, 2026. Based on this history, GDS Holdings Limited reports quarterly. The most recent call on file is dated May 20, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

GDS

Exchange

NasdaqGM

Country

US

Sector

Information Technology

Industry

IT Services

Calls on record

30

First call

February 26, 2020

Most recent

May 20, 2026

Reporting cadence

quarterly