Thanks call. QTS' Stephen. Hello third and welcome earnings to quarter XXXX
customer a federal. key Turning to our be continues results performance to our consistency during platform X, financial QTS across and operating strong hybrid of supported Slide hyperscale delivered the our colocation quarter. The diversified verticals by and
during of hyperscale industry the business variety different believe past a the of our of periods witnessed to enables sources slower even perform. cycles year. diversity of We as over our The growth absorption demand in intermittent
QTS in world-class commitment and are a customer customer and industry-leading delivered infrastructure. our a digitized sustainability, experience premium customers data benefiting verticals fully these through differentiated delivery model service center across Across employees, our our both to we leadership
customer each strength has our driven Year-to-date broad the signed by been of our verticals. across net leasing
leasing quarter were results our business. first driven by the colocation recall may hybrid primarily million of you As $XX.X
was While our our near record federal vertical. second quarter million leasing of led by $XX.X performance
and our with During with The more strength a quarter, fourth profile customers continues quarter a acceleration return diversified to value opportunities in and a customers results strong the been third by higher in so a enterprise return and have the the hyperscale growth demand. hyperscale combination QTS for creation opportunity driven far of shareholders. risk-adjusted and leasing federal provide its opportunities
steady strong X, average our third of quarter new leases and in Moving signed incremental during leasing our $XX above enterprise demand. average annualized a million reflected more $XX.X our to net leasing. quarter quarterly Slide year-to-date on combined modified representing business million and four to acceleration than brings our which the prior QTS with million performance $XX hyperscale is revenue, of of
within Included X.X leasing our a downgrade from mega net hyperscale megawatt a volume customer center. enrichment is QX data
However, campus. executed subsequently customer Atlanta expansion additional an XX-megawatt QTS's the strategic in Metro
new facility was campus The not the on with XX-megawatt Downtown conjunction third quarter This to under end this is with the customer announced construction our quarter yesterday. and leasing the release deployment will Atlanta results. third signed subsequent in included our that was of earnings in expansion anchor the
our the hyperscale quarter in in quarter net acceleration vertical to above leasing third excess during downgrade growth business. quarter our third the our X.X-megawatt have On would $XX colocation during hybrid continues average. in top four prior drive performance the in quarter, our experienced our the Excluding the we well steady been vertical million, of of
that scalable a is colocation enabled data our hybrid the combined platform a customers that in center with customer across built execution around is platform experience. delivered solution fully technology integrated premium offers our Consistent in
footprint in new with broad the strength XX increase XX% colocation. A During signed our logos. third we across year-over-year quarter hybrid
is which which weighted general base healthy. In more consistent of during is addition third same X% expectation our with renewal our enterprise increasing range. mid-single towards the up With rates quarter rates remains customers the to on low digit our space installed pricing in
of quarter in in of signed visibility strong ended at with momentum result which we commenced ever strong provides $XX as start recurring a are in XX backlog quarter highest the As we already off the leasing, the megawatt our yet annualized and growth to approximately million, the but a future and revenue tremendous fourth not signed well. with QX,
in net customers. discussed, leases our the the leasing both new driven We as was during X, existing approximately Hyperscale by strategic in performance and half quarter. with which slide third the signed contributed a driver quarter acceleration Hyperscale leasing the business our volumes on tenants, significant Next of strong significant in multiple including
year, last the we Hyperscale service a with announced lease Early software of as signing leading Manassas new a a the facility in company. in
the lease customer its second As from full facility. as megawatt ramp of up committed megawatt part expected of to the into of the agreement, the XX is nine quarter deployment
to total turnkey are its turn-key During an committed that pleased XX-megawatts the of committed announce we our to the brings to representing tranche which third customer third X-megawatts capacity, capacity incremental quarter,
the development incremental Capital only this Linda the from contribution third was our earlier megawatt with contributed venture XX% As year joint leasing four reflect results the the quarter Manassas to our XX-XX for the commitment.
as in visibility into turn-key this power growth. of and full leasing to recognize go-forward future providing performance pipeline signs the quarterly ramps and the customer megawatt XX additional in commitments continue will results capacity, We our additional additional
Worth signed in buy incumbency vendor commitment This and partners, prefer center of complexities the We data the Piscataway. largest incremental typically a given into with QTS of customers who industry. lease Hyperscale in on brought related XXXX. re-occurring and basis consumers XXXkW to We of one Hyperscale the to internal their a QX time importance customer existing processes. in of procurement the initially with this capacity platform now Fort with highlights Moving the to expansion approved
existing of megawatt quarter in with on commence return This that invested also the largest of Once opening the lease the our established This end was with capital in typical XX% XX of to expand experience, upon in will of official the our standing subsequent the the an as was continue signed their you've new relationships. Hyperscale yourself to Atlanta tend third expansion the case customers with to vendor approved Hyperscale mid X% Hyperscale tranche range is facility and one to first with XXXX. relationships. consistent the
overall onto QTS This new platform, it in on relationship with customer to represents our and development, that during this aligning deployment Atlantic customers strategic focus allocation. the third full new Ashburn facility. derisk continued one is bringing This consumers in megawatt is the significant lease datacenter Consistent strategic megawatt the expansion one-year over customer ramp of a and with our into the of beginning our a capacity capital Hyperscale Hyperscale logo the fastest quarter we're our with approach is campus pleased to approximately period to commitment sign growing a XX in Hyperscale XX the mid-XXXX. new expected with of
return and customers leveraging pleased future. incremental added consistent XX%. to the maturity, The commitment, a this our also strategic on-site and platform pricing believe, lease are growth in to and with other on new customer profile this we capital have persistence. takes quality deal this yet our and software Hyperscale our secure operational with for drive Building of above Hyperscale X% was our personnel. relationships typical our able facility to to the Ashburn of were our new is And our invested return defined to We range on we competitors time platform
and to data pace demand. with pleased Since of on newest in slide growth the Ashburn Moving our mid-XXXX, our X. opening the in center we've been
and our among is third already the sold it megawatt both over Hyperscale Hyperscale discussed we our most during potential a fact, In with sales just capacity, XX among lease active XX of signed opening year facility, Colocation. since Hybrid And team customers, megawatts the the quarter. across sites including we've
equates tremendous the the approximately of This a represents our which capacity accomplishment facility, to team. for half entire of
increase that six believe the the next market in Ashford do we supply will months. nine to While over
We current been signed achieve are our return with able we've and on pleased pipeline leases. to our the profile,
in We supply to our the based continue in market on our stop opportunities pipeline. capital the investments Northern monitor the appropriately Virginia will growth and
X. expansion our and slide center, include development with feet adjacent QTS existing square of Turning of XXX,XXX of critical announced commencement more of totaling data mega power conjunction facility. megawatt of new to a our earnings Atlanta-Metro XX also our we will capacity leasable release our than data the expansion Metro This campus. capacity to In yesterday, the center incremental
land in We're end part to strategic as of Hyperscaler. development the of first new phase we to our Including currently our phase subsequent double XX we more footprint adjacent development of the mid-XXXX. holdings, that lease expect the the the We is Atlanta-Metro have capacity our entire in signed than the pre-leased megawatt the with first to deliver of time over market. current QX pleased
allocation. development and is the established capital Atlanta pre-leasing for Georgia our consistent years. to mega de-risk market approach significant and served This Downtown the QTS having QTS is new with centers leader XX Sweeney market is development through well to over data in Atlanta overall
market strong QTS ability this on has expandable our our cost offer the City customers operation. Hyperscale will in Georgia forward leverage substation large in through a the to including currently XXXMG look advantage competitive totaling operating of continuing feet market lowest establish Enterprise facility, million in and our customers. two customers Atlanta extend new extending embedded destination based leadership in as a for further Atlanta one across to to power square customer and our XXX in our the the market with over base We key to sites. Atlanta The partnership
to Financial With that, I'll turn it Berson, Chief Officer. our Jeff over Jeff.
