Csquare is a leading North American enterprise digital infrastructure platform providing carrier-neutral colocation and interconnection services that support the applications powering the modern economy. The company delivers mission-critical infrastructure to a diversified customer base of more than 1,700 enterprise, network, cloud, and technology customers. As of March 31, 2026, Csquare’s platform comprises 64 sites across 21 major metropolitan markets in the United States, Canada, and the United Kingdom, delivering approximately 389 MW of sellable power capacity and more than 36,600 interconnection products.
Csquare generates revenue primarily from recurring colocation and interconnection services under contractual arrangements ranging from one to seven years, with an average remaining contract term of approximately 33 months as of March 31, 2026. The company’s primary service offering is enterprise colocation, where customers deploy IT and network infrastructure within its data centers to support production IT environments, hybrid cloud architectures, latency-sensitive applications, financial trading platforms, content delivery networks, and enterprise AI and inference workloads. Interconnection services, which provide access to a broad ecosystem of network service providers, cloud on-ramps, and direct customer-to-customer connectivity, accounted for approximately 10.3% of recurring revenues for the three months ended March 31, 2026. Additional services such as remote hands and eyes support, equipment installation and removal, cabling, cross-connects, hardware troubleshooting, and monitoring generate incremental revenue and enhance customer retention.
The company operates through the following segments: Enterprise Colocation, Interconnection, and Additional Services.
- Enterprise Colocation: This segment provides secure space, redundant power, advanced cooling systems, physical security, and dense interconnection capabilities for customers to deploy and operate critical IT and network infrastructure. Most customer deployments are below 5 MW and average approximately 7.6 contracted kW per rack across the footprint, with the ability to support high-density computing environments up to and beyond 150 kW per rack. The segment serves production IT environments, hybrid cloud architectures, financial trading platforms, content delivery networks, and enterprise AI and inference workloads.
- Interconnection: This segment provides highly network-dense, carrier-neutral environments that give customers immediate access to a broad ecosystem of leading network service providers, cloud on-ramps, and direct customer-to-customer connectivity. With multiple providers operating in every facility, customers can rapidly scale, optimize performance, and reduce latency and costs without vendor lock-in. Interconnection services accounted for approximately 10.3% of recurring revenues for the three months ended March 31, 2026, and are a key driver of long-term customer value.
- Additional Services: This segment includes remote hands and eyes support, equipment installation and removal, cabling and cross-connects, hardware troubleshooting, monitoring, and other on-demand technical assistance. These services are generally billed on a time-and-materials or per-service basis and allow customers to operate critical infrastructure without maintaining on-site personnel. Additional services generate higher-margin, non-power-dependent revenue streams that complement the core colocation offerings.
Csquare holds a strong position in the competitive data center industry, differentiated by its integrated platform combining scale, geographic reach, and a dense interconnection ecosystem. The company competes with developers, owners, and operators such as Equinix, DataBank, CoreSite, Digital Realty Trust, CyrusOne, Switch, TierPoint, Flexential, and Cologix, as well as public cloud infrastructure providers like Amazon Web Services, Microsoft Azure, and Google Cloud. Csquare’s competitive advantages include high-quality infrastructure engineered for reliability, scaled presence in urban population centers offering low-latency connections, embedded power availability that scales with customer demand, and an industry-leading management team with over a century of combined data center experience.
Csquare serves more than 1,700 customers across a broad range of industries, including financial services, health care, cloud and IT services, media and content, network service providers, semiconductors, gaming, and enterprise technology. The customer base is highly diversified, with no single customer representing more than 7% of revenue for the year ended December 31, 2025. The top 50 customers, measured by monthly recurring revenue, have maintained relationships with the company for more than 12 years on average.