Switch, Inc. (Nevada) engages in the provision of technology infrastructure. It specializes in the development of digital platforms for digital media companies, cloud and managed service providers, financial institutions, and telecommunications providers. Its products include Switch CONNECT and Switch SAFE. Switch was founded by Rob Roy in 2000 and is headquartered in Las Vegas, NV.
Revenue increased by $9.3 million, or 10%, for the three months ended March 31, 2019, compared to the three months ended March 31, 2018. The increase was primarily attributable to increases of $8.5 million in colocation revenue and $0.7 million in connectivity revenue, both of which resulted from an increased volume of sales to existing and new customers. Of the overall increase, 47% was attributable to new customers initiating service after March 31, 2018, and the remaining 53% was attributable to growth from existing customers. Our revenue churn rate, which we define as the reduction in recurring revenue attributable to customer terminations or non-renewal of expired contracts, divided by revenue at the beginning of the period, was 0.1% during each of the three months ended March 31, 2019 and 2018.