Germany · Delayed Price · Currency is EUR Northern Data AG Earnings Call Transcripts
Fiscal Year 2024
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2024 saw 159% revenue growth to EUR 200.5 million, driven by cloud and mining segments, with adjusted EBITDA turning positive. Major investments in GPUs and data centers position the company for further growth in 2025, with continued expansion and customer diversification expected.
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Q3 revenue surged 235% year-over-year to €59M, with cloud now 80% of group revenue and adjusted EBITDA at €25M. Full-year guidance of €200M–€240M revenue and €50M–€80M EBITDA is reaffirmed, driven by rapid GPU deployment and strong demand for AI cloud services.
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Revenue grew 49% year-over-year in H1 2024, driven by strong cloud growth and strategic GPU deployments. Full-year guidance remains EUR 200–240 million in revenue and EUR 50–80 million in adjusted EBITDA, with cloud expected to comprise 60% of 2024 revenue.