Northern Data Reports Strong Q1 2026 Revenue Growth

Northern Data AG, a provider of AI and High-Performance Computing solutions, has released its Q1 2026 financial results, showing robust growth. The company's revenue for the quarter reached EUR 43 million, an increase from EUR 40 million in Q1 2025. This growth is attributed to improved GPU utilization, which rose to 85% in March 2026. The transition from spot-market to reserved or on-demand contracts has enhanced revenue predictability and pricing per GPU hour.

In Q1 2026, other income comprised EUR 8 million from various sources, and the adjusted EBITDA stood at approximately EUR 24 million. The company maintains its FY 2026 revenue outlook at EUR 130 million to EUR 150 million.

Northern Data's cash position as of March 31, 2026, was EUR 58 million, with a cash flow from operations of approximately EUR 4 million, despite one-time expenses. The company's outlook for GPU utilization remains high for Q2 2026, supported by recent customer contracts.