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Northern Data (NB2) investor relations material

Northern Data H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary11 Aug, 2025

Executive summary

  • H1 2025 revenue reached EUR 94.3 million, a 72% increase year-over-year, driven by growth in Cloud and Mining segments.

  • Adjusted EBITDA rose 101% year-over-year to EUR 21.3 million, reflecting improved operational performance.

  • Infrastructure upgrades initiated in Q2 are enhancing customer traction in the Cloud business for Q3.

  • Opened a next-generation AI and HPC data center in Pittsburgh, expanding technological capabilities.

Financial highlights

  • H1 2025 Adjusted EBITDA was EUR 21.3 million, up from EUR 10.6 million in H1 2024.

  • Net loss for H1 2025 was EUR 164.6 million, compared to a loss of EUR 32.6 million in H1 2024, due to higher depreciation, amortization, and financial expenses.

  • Earnings per share declined to EUR -2.56 from EUR -0.61 year-over-year.

  • Cash and cash equivalents stood at EUR 52.0 million as of June 30, 2025.

Outlook and guidance

  • Ongoing infrastructure upgrades are expected to further improve customer engagement and revenue in the Cloud segment in Q3.

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Frequently asked questions

Northern Data AG, identified by the ticker NB2, operates within the information technology sector, focusing on developing and constructing infrastructure solutions in the domain of High-Performance Computing (HPC). The company provides infrastructure for a variety of HPC applications, including cloud computing, cryptocurrency hosting services and hardware, alongside both stationary and mobile data centers. Its HPC solutions cater to diverse areas such as machine learning and artificial intelligence (AI), big data analytics, blockchain, game streaming, and video rendering. Northern Data AG is headquartered in Frankfurt am Main, Germany, and its shares are listed on the Xetra.

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