Shares of the Australian company, Megaport (ASX:MP1), jumped as much as 14.3% to A$11.9, reaching their highest level since April 2022.

The company projects an EBITDA growth for the fiscal year of 2024 around 152% to 182% year-on-year.

The tech firm forecasts an EBITDA in the range of A$51 million to A$57 million for the same period.

In addition, they expect to report a positive net cash flow for the fiscal year 2024.

The share gain marks the company’s best intraday percentage gains in over a month.

Megaport’s stock has increased by 64.7% this year, up to the last closing.

Megaport is a tech company specializing in providing scalable and flexible connectivity solutions across key data centres universally.