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radius global infrastructure Radius Global Infrastructure Reports Third Quarter 2021 Financial Results November 10 , 2021 Maintains Robust Pace of Growth Revenue Increased 54 % YoY NEW YORK -- ( BUSINESS WIRE ) -- Nov . 10 , 2021-- Radius Global Infrastructure , Inc. ( NASDAQ : RADI ) ( " Radius " or the " Company " ) , one of the largest global owners and acquirors of real property interests and contractual rights underlying essential telecommunications digital infrastructure , today reported results for the third quarter ended September 30 , 2021 . Bill Berkman , Co - Chairman and CEO of Radius Global Infrastructure , commented : " We generated revenue growth of 54 % year - over - year in the third quarter through disciplined capital deployment to acquire assets combined with continued organic growth from our triple net rent property portfolio . To support our continued growth as we expand into a broader pool of assets and enter new jurisdictions , we issued $ 264.5 million aggregate principal amount of 2.5 % senior unsecured convertible notes during the quarter . On October 5 , we celebrated our first anniversary as a U.S. publicly listed company . I am extremely proud of what our employees have achieved , not just during the past year , but over the past decade . We are executing on our strategy to penetrate a massive addressable market of mission - critical communications sites , which we believe will allow us to achieve greater economies of scale and capture attractive investment arbitrage opportunities from our rapidly growing portfolio of assets . " QUARTERLY RESULTS Revenue increased 54 % to $ 27.5 million for the three months ended September 30 , 2021 , as compared to revenue of $ 17.9 million for the three months ended September 30 , 2020 . Gross Profit rose 52 % to $ 26.9 million in Q3 2021 , as compared to gross profit of $ 17.7 million in the corresponding prior year period , while the Company generated a gross profit margin of approximately 98 % in Q3 2021 . Annualized In - Place Rents increased to $ 110.4 million as of September 30 , 2021 , an increase of $ 41.5 million or 60 % over the Annualized In - Place Rents of $ 68.9 million as of September 30 , 2020 . YEAR - TO - DATE RESULTS Revenue increased 50 % to $ 74.6 million for the nine months ended September 30 , 2021 , as compared to revenue of $ 49.6 million for the nine months ended September 30 , 2020 . Gross Profit rose 49 % to $ 73.3 million in the nine months ended September 30 , 2021 , as compared to gross profit of $ 49.2 million in the corresponding prior year period . Investments in Real Property Interests and Related Intangible Assets , as identified in the Company's Consolidated Statements of Cash Flows , was $ 354.0 million and $ 77.9 million for the nine months ended September 30 , 2021 and 2020 , respectively . This represented an increase of $ 276.1 million , or 354 % , for the nine months ended September 30 , 2021 over the corresponding prior year period . Acquisition Capex was $ 359.7 million and $ 102.3 million for the nine months ended September 30 , 2021 and 2020 , respectively , or an increase of $ 257.4 million or 252 % for the nine months ended September 30 , 2021 over the nine months ended September 30 , 2020 . Please refer to the GAAP financial disclosures and reconciliations to non - GAAP financial measurement set forth below and in the Company's Form 10 - Q for the quarter ended September 30 , 2021. The Company pays for its acquisitions of real property interests either with a one - time payment at the time of acquisition or , under certain circumstances , with a combination of upfront payments and future contractually committed payments over a period of time , in each case pursuant to the individual acquisition agreement . In the Consolidated Statements of Cash Flows , the one - time and upfront cash payments are reported as Investments in Real Property Interests and Related Intangible Assets . The total cash spent and the commitment for future payments in any given period for the acquisition of real property interests , adjusted for changes in foreign currency , is our Acquisition Capex . Acquisition Capex is a non - GAAP metric , albeit one the Company believes is valuable to readers of the Company's financial statements . Please refer to the table below for a full reconciliation of Acquisition Capex . LIQUIDITY As of September 30 , 2021 , Radius had $ 414.9 million of total cash and cash equivalents and restricted cash . FINANCING TRANSACTION On September 13 , 2021 , the Company issued $ 264.5 million aggregate principal amount of 2.5 % senior unsecured convertible notes . The notes are convertible by the holders into cash , shares of the Company's Class A common stock , or a combination thereof , at the Company's election . The Company used approximately $ 33.2 million of the net proceeds from the notes to pay the cost of capped call transactions that raised the effective