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Megaport Global Update Megaport reports record Monthly Recurring Revenue growth in 1Q FY22 , with Annualised Revenue now exceeding $ 100M . The Company announced support for Versa SASE on Megaport Virtual Edge , bolstering connectivity options for branch locations and remote users . Brisbane , AUSTRALIA 21 October , 2021 Megaport Limited ( ASX : MP1 ) today reports its quarterly Key Performance Indicators to 30 September 2021 , and provides a global market update . Executive Summary In 1Q FY22 , Megaport accelerated Monthly Recurring Revenue ( MRR ) growth , up $ 1.1M and 14 % QOQ , to $ 8.6M in September 2021. Underlying MRR¹ grew $ 822k for the quarter – a record high for the Company . Total revenue for the quarter was $ 24.6M , up 8 % compared to 4Q FY21 . During the first quarter , Megaport sold 1,459 new services , up 7 % QOQ for total services of 23,171 . The company sold 7 Megaport Virtual Edges ( MVES ) , increasing 33 % QOQ for a total of 28 sold MVEs in advance of going live on Cisco's Global Price List ( GPL ) . Megaport is now included on the Cisco GPL as of September 29 , 2021. GPL inclusion is a key component of an ongoing partnership between Cisco and Megaport . Access to the Cisco GPL will make it easier for Cisco SD - WAN customers to adopt Megaport to enable Software Defined Cloud Interconnect ( SDCI ) for rapid cloud connectivity . Performance Highlights 1Q FY22 highlights : MRR for the month of September 2021 was $ 8.6M , an increase of $ 1.1M , or 14 % QoQ . Revenue for the quarter was $ 24.6M , an increase of $ 1.9M or 8 % QoQ . Customers at the end of the quarter were 2,332 , an increase of 47 , or 2.1 % QoQ . Total Ports at the end of the quarter were 8,084 , an increase of 395 , or 5.1 % QOQ . Total VXCs at the end of the quarter were 13,036 , an increase of 1,007 , or 8.4 % QOQ . Total MCRS at the end of the quarter were 543 , an increase of 41 , or 8.2 % QOQ . Total MVES at the end of the quarter were 28 , an increase of 7 , or 33.3 % QoQ . Total Services at the end of the quarter were 23,171 , an increase of 1,459 , or 6.7 % QOQ . 1 Underlying MRR is the QoQ growth in MRR excluding the estimated impact of FX movements . ² Total Services comprise Ports , Virtual Cross Connections ( VXCS ) , Megaport Cloud Router ( MCR ) , Megaport Virtual Edge ( MVE ) and Internet Exchange ( IX ) .