Northern Data (NB2) H1 2026 earnings summary

Executive summary

• Q2 2026 revenue reached approximately EUR 54 million, a significant increase from EUR 0.6 million in Q2 2025.

• Adjusted EBITDA for Q2 2026 was approximately EUR 23 million.

Financial highlights

• Cash and cash equivalents as of June 30, 2026, stood at approximately EUR 40 million, down from EUR 58 million at March 31, 2026.

• A non-cash financial expense of EUR 251 million was recognized due to a decrease in the fair value of contingent consideration related to the Peak Mining business disposal.

Outlook and guidance

• Revised assumptions indicate an imminent sale of the Corpus Christi sites is no longer probable, impacting future cash flow expectations.