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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.
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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