Northern Data AG ( (NDTAF) ) has released its Q4 earnings. Here is a breakdown of the information Northern Data AG presented to its investors.
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Northern Data AG is a leading provider of AI and High-Performance Computing (HPC) solutions, utilizing high-density, liquid-cooled, GPU-based technology to support innovative organizations worldwide.
In its latest preliminary earnings report, Northern Data AG announced robust financial performance for Q4 and the full fiscal year 2024. The company achieved significant revenue growth, driven by its Cloud and Data Center operations, and is on track to meet its financial guidance.
The company reported Q4 2024 revenue of EUR 86 million, marking a 47% increase from the previous quarter and a staggering 281% rise year-on-year. Full-year 2024 revenue reached EUR 200 million, up 159% compared to 2023. The Cloud and Data Centers division recorded a remarkable EUR 121 million in revenue for FY 2024, a 722% increase year-on-year, accounting for 60% of the Group’s total revenue. The mining segment also showed strong performance, with Q4 mining revenue of EUR 32 million, reflecting an 88% year-on-year growth.
Strategically, Northern Data AG is expanding its vertically integrated business model into the U.S. with a new data center in Maysville, Georgia. This facility is expected to deliver 120MW of power, with future expansion potential. The company also announced the successful onboarding of 24,000 NVIDIA GPUs by year-end, of which 16,000 were operational, reinforcing its position as having the largest installed GPU capacity in Europe.
Looking ahead, Northern Data AG is poised to capitalize on opportunities in the AI cloud market, with plans to enhance its AI offerings and continue its strategic expansion. The company remains committed to delivering high-performance computing solutions and anticipates further growth in 2025 and beyond, following the sale of its mining business.
