Northern Data Group provides 2023 reporting update & reaffirms 2024 guidance

FRANKFURT, Germany, June 28, 2024 /PRNewswire/ -- Northern Data Group (Ticker symbol German stock market: NB2, ISIN: DE000A0SMU87), a leading provider of High-Performance Computing (HPC) solutions, is pleased to confirm that it will publish its 2023 audited financial results on 12th July 2024.

It is anticipated that the 2023 results will be at the higher end of the provided guidance of revenue of EUR 65 million to EUR 75 million and Adjusted EBITDA1) of EUR -20 million to -5 million.

The Group also reconfirms guidance for 2024, expecting revenue of EUR 200 million to EUR 240 million in fiscal year 2024, more than triple its revenue for fiscal year 2023; with the expected annualized exit run rate in 2024, supporting Company expectations of revenues of EUR 520 million to EUR 570 million in full-year 2025.

Following the release of the Group's audited results, the date for the 2023 Annual General Meeting will be announced.

¹⁾ Adjusted EBITDA corresponds to EBITDA adjusted for non-cash and non-recurring items, which currently include (i) stock option plan expenses, (ii) lawsuits and other one-off legal fees, (iii) systems implementation, (iv) trading losses/gains from cryptocurrency, (v) restructuring costs, (vi) impairment losses related to third party bankruptcy and (vii) investment banking fees. 

About Northern Data Group:

Northern Data Group (ETR: NB2) is a leading provider of High-Performance Computing (HPC) solutions to businesses and research institutions, utilizing GPU- and ASIC-based solutions. Our flexible compute power fuels innovation in our three core business divisions: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.

Disclaimer:

This IR release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.