Press release
Roubaix, 24 June 2025




Resilient third quarter
Acceleration of enquiries for sovereign solutions
Annual targets confirmed
• Organic growth of 9.3% in Q3, driven by Public Cloud and international markets

• Organic growth of 9.9% over the first nine months of FY2025


Revenue by product segment

(in € million) 2024 2025 Change 2024 2025 Change
3 quarter
rd
3 quarter
rd
YoY (%) LFL 9 months 9 months YoY (%) LFL
Private cloud 157.6 169.3 +8.6% 460.1 503.5 +9.8%
Public cloud 46.0 53.6 +17.2% 134.4 157.4 +17.3%
Webcloud & Other 47.3 49.0 +3.8% 142.4 147.0 +3.2%
Total Revenue 250.8 271.9 +9.3% 736.9 807.9 +9.9%



Commenting on the revenue for the third quarter ended 31 May 2025, Benjamin Revcolevschi, CEO of
OVHcloud, stated:

“OVHcloud demonstrated its resilience in this quarter, and we are on track to exceed €1 billion in revenue this
year. We have successfully repositioned several offerings, which enabled us to meet our customers’ needs and
boost the acquisition of new customers.

As the leading European cloud provider, we are at the heart of a new dynamic with the acceleration of enquiries
for sovereign solutions. This is the sign of a structural change, with OVHcloud as the sovereign cloud reference.

We reconfirm all of our annual targets, with continued discipline to deliver solid, profitable and cash-
generative growth. I would like to sincerely thanks our employees for their commitment which enables us to
execute our roadmap.”




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Resilient growth and operating discipline

OVHcloud’s revenue for the third quarter of FY2025 came in at €271.9 million, up 9.3% like for like. Growth
was driven by the success of our Public Cloud products and strong demand in the United States and Asia-
Pacific.

The strategic repositioning of some of our offerings has boosted customer acquisition, particularly in the
Bare Metal Cloud (Private Cloud).

Our existing customers continued to grow, as illustrated by the net revenue retention rate of 104% (on a
like-for-like basis).

In line with the first half of 2025, the Group has maintained its operating discipline, particularly in terms of
controlling general and administrative expenses.

Revenue by product segment
(in € million) 2024 2025 Change Change
3 quarter
rd
3 quarter YoY (%) Reported
rd
YoY (%) LFL
Private cloud 157.6 169.3 +7.4% +8.6%
Public cloud 46.0 53.6 +16.5% +17.2%
Webcloud & Other 47.3 49.0 +3.8% +3.8%
Total Revenue 250.8 271.9 +8.4% +9.3%

For the third quarter of FY2025, Private Cloud achieved revenue of €169.3 million (62.3% of revenue), up
8.6% like for like.
• Bare Metal Cloud has benefited from the strategic repositioning of entry-range offerings. The number of
new customers increased by more than 25% compared with the same period in FY2024.
• The Hosted Private Cloud growth was impacted by an increase in Broadcom/VMware licence costs since
May 2024. OVHcloud has developed a new competitive entry-level offer that will restore growth
momentum.

For the third quarter of FY2025, Public Cloud (19.7% of revenue) posted revenue of €53.6 million, up 17.2%
like for like.
• The number of new customers increased by more than 12% compared with the same period in FY2024.
OVHcloud continued to enhance its offering, with new products in artificial intelligence and data
analytics.
• The new paradigm of “3-AZ Region” answers large corporates needs. After Paris, OVHcloud is preparing
the opening of Milan in 2025.

For the third quarter of FY2025, the Web Cloud & Other segment (18.0% of third-quarter revenue) posted
revenue of €49.0 million, up by 3.8% like for like.
• The domain name business has gained market share in several countries. Action plans have been rolled
out to revitalise the segment's other activities. “Web presence” solutions grew by 6.8% on a like-for-like
basis.




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Revenue by region

(in € million) 2024 2025 Change Change
3rd quarter 3rd quarter YoY (%) Reported YoY (%) LFL

France 121.6 130.4 +7.2% +7.2%
Europe (excl. France) 73.2 79.3 +8.4% +8.1%
Rest of the World 56.0 62.2 +11.0% +15.6%
Total revenue 250.8 271.9 +8.4% +9.3%


France accounts for 48% of the Group total and is up 7.2% on a like-for-like basis. Private Cloud and Public
Cloud activities in France grew by 6.6% and 16.9% respectively on a like-for-like basis. Contract signed with
Arquus in Private Cloud for SecNumCloud solutions.

The other European countries account for 29% of the Group total and is up 8.1% on a like-for-like basis.
Growth was driven by Central and Northern Europe. Contract signed in Norway, in Private cloud with Visma
a leading software specialist.

The Rest of the World accounts for 23% of the Group's total and is up 15.6% on a like-for-like basis. This
region continued to benefit from strong momentum in the United States and Asia-Pacific. Contract signed
in Asia Pacific with Evolve Labs.

Outlook – Confirmation of all FY2025 guidance
OVHcloud has confirmed all its guidance for FY2025. As a reminder, the guidance for FY2025 is as follows:
- Organic revenue growth of between 9% and 11% compared to FY2024
- FY2025 adjusted EBITDA margin of approximately 40%
- Capex of between 30% and 34% of revenue, with recurring and growth capex representing between
11%-13% and 19%-21% of revenue, respectively
- Unlevered free cash flow in excess of €25 million, up on FY2024


Recent highlights

OVHcloud admitted to SBF 120 index
Following the quarterly review of the index at Euronext Paris, the Euronext Paris Indices Expert Committee
(Le Conseil Scientifique des Indices) has decided to admit OVHcloud as part of the SBF 120, the index of the
top 120 listed companies in terms of liquidity and free float.

Changes to the Board of Directors
After 8 years on the OVHcloud Board of Directors, Bernard Gault has asked to be relieved of his duties as
Lead Director and Chairman of the Appointments, Compensation and Governance Committee (CNRG). His
resignation will be effective from 23 June 2025. Octave Klaba, Founder and Chairman of the Board of
Directors, sincerely thanks him for his 8 years of commitment to the Group.
Mr Karim Saddi has also tendered his resignation as non-voting director on 4 June 2025.




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At the last OVHcloud Board meeting, held on 23 June 2025, Pierre Barrial was co-opted to replace Bernard
Gault as independent director and Chairman of the CNRG. This appointment is subject to ratification by the
next Annual General Meeting.

Pierre Barrial has more than 30 years' experience working with governments and businesses in international
digital companies and in various B2B sectors. In particular, he was President and Chief Executive Officer of
IDEMIA. IDEMIA was founded following the 2017 merger between Morpho (former subsidiary of the Safran
Group) and Oberthur Technologies and designs advanced technological solutions based on biometrics and
cryptography to make more secure ways to pay, connect, access, travel and be identified.

At the last OVHcloud Board meeting, held on 23 June 2025, Christophe Karvelis-Senn was appointed as a
non-voting director. Christophe Karvelis-Senn has over 35 years' experience in private equity and
entrepreneurship. In 2004, Christophe Karvelis-Senn founded CAPZA, a European private equity and private
debt platform serving SMEs and SMIs with almost €10 billion in assets under management, particularly in
the healthcare, technology and business services sectors.

Data Platform launch
OVHcloud has launched Data Platform, a unified, self-service Public Cloud PaaS solution for integrating,
storing, processing and analysing all types of data easily.

AI Endpoints launch
Available as part of the Public Cloud portfolio, AI Endpoints simplifies the adoption of AI for developers and
businesses by providing instant access via an API to more than 40 pre-trained AI models, including the
popular LLaMA, Mistral and Qwen models, without the need for infrastructure management or machine
learning expertise.

Strengthening our European footprint with the opening of our first datacenter in Italy
OVHcloud is strengthening its presence in Europe with the opening of a new data centre in Milan by the end
of 2025, its 44th worldwide and first in Italy. This 3-AZ infrastructure, made up of three separate centres in
close proximity, will offer a highly secure and resilient public cloud, and it will guarantee low latency and
greater digital autonomy for European businesses and institutions.




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Conference call
On Tuesday 24 June 2025 at 10 a.m. (CEST – Paris), OVHcloud’s management will hold a conference call in
English.
The conference call can be accessed via:
• Webcast using the following link:
https://channel.royalcast.com/ovhcloud-eng/#!/ovhcloud-eng/20250624_1

• Telephone using the following numbers:
o Paris: +33 (0) 1 70 37 71 66
o United States: +1 786 697 3501
o From other international countries: +44 (0) 33 0551 0200
o Code: “OVHcloud”

After the conference call, a replay of the webcast will be available in the Investor relations section of the
OVHcloud website: https://corporate.ovhcloud.com/fr/investor-relations/financial-results/

Calendar
21 October 2025: FY2025 annual results


About OVHcloud
OVHcloud is a global player and the leading European cloud provider operating over 450,000 servers within
44 datacenters across 4 continents to reach 1.6 million customers in over 140 countries. Spearheading a
trusted cloud and pioneering a sustainable cloud with the best price-performance ratio, the Group has been
leveraging for over 20 years an integrated model that guarantees total control of its value chain: from the
design of its servers to the construction and management of its datacenters, including the orchestration of
its fiber-optic network. This unique approach enables OVHcloud to independently cover all the uses of its
customers so they can seize the benefits of an environmentally conscious model with a frugal use of
resources and a carbon footprint reaching the best ratios in the industry. OVHcloud now offers customers
the latest-generation solutions combining performance, predictable pricing, and complete data
sovereignty to support their unfettered growth.

Contacts
Media relations Investor relations
Pely Correa Mendy Benjamin Mennesson
Head of Media Relations Head of Investor Relations and Financing
media@ovhcloud.com investor.relations@ovhcloud.com
+33 (0)6 40 93 80 19 +33 (0)6 99 72 73 17




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Appendices


Glossary
Like-for-like is calculated at constant exchange rates and constant scope. Scope adjustments correspond
to M&A.

The net revenue retention rate for any period is equal to the percentage calculated by dividing (i) the
revenue generated in such period from customers that were present during the same period of the previous
year, by (ii) the revenue generated from all customers in that previous year period. When the revenue
retention rate exceeds 100%, it means that revenue from the relevant customers increased from the
relevant period in the previous year to the same period in the current year, in excess of the revenue lost due
to churn.

ARPAC (Average revenue per active customer) represents the revenue recorded in a given period from a
given customer group, divided by the average number of customers from that group in that period (the
average number of customers is determined on the same basis as in determining net customer
acquisitions). ARPAC increases as customers in a given group spend more on OVHcloud services. It can also
increase due to a change in mix, as an increase (or decrease) in the proportion of high-spending customers
would increase (or decrease) ARPAC, irrespective of whether total revenue from the relevant customer
group increases.

Recurring EBITDA is equal to revenue less the sum of personnel costs and other operating expenses (and
excluding depreciation and amortisation charges, as well as items that are classified as "Other
non-recurring operating income and expenses").

Adjusted EBITDA is equal to recurring EBITDA excluding share-based compensation and expenses resulting
from the payment of earn-outs.

Recurring Capital Expenditure (Capex) reflects the capital expenditure needed to maintain the revenue
generated during a given period for the following period.

Growth capital expenditure (Capex) represents all capital expenditure other than recurring capital
expenditure.

Unlevered free cash-flow represents cash flows from operating activities minus capital expenditure.




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Revenue by segment and geography
Q1 FY2024 Q2 FY2024 Q3 FY2024 9M FY24 Q1 FY2025 Q2 FY2025 Q3 FY25 9M FY25
In € million
Reported Reported Reported Reported Reported Reported Reported Reported
Private cloud 149.6 152.9 157.6 460.1 164.5 169.8 169.3 503.5
Public cloud 43.5 44.9 46.0 134.4 50.3 53.5 53.6 157.4
Webcloud & Other 46.7 48.5 47.3 142.4 48.8 49.2 49.0 147.0
Total Revenue 239.8 246.3 250.8 736.9 263.5 272.5 271.9 807.9


Q1 FY2025 Q2 FY2025 Q3 FY2025 9M FY25 Q1 FY2025 Q2 FY2025 Q3 FY25 9M FY25
Growth in %
LFL LFL LFL LFL Reported Reported Reported Reported
Private cloud +10.2% +10.5% +8.6% +9.8% +9.9% +11.0% +7.4% +9.4%
Public cloud +15.8% +18.7% +17.2% +17.3% +15.7% +19.0% +16.5% +17.1%
Webcloud & Other +4.4% +1.3% +3.8% +3.2% +4.5% +1.4% +3.8% +3.2%
Total Revenue +10.1% +10.2% +9.3% +9.9% +9.9% +10.6% +8.4% +9.6%



Q1 FY2024 Q2 FY2024 Q3 FY2024 9M FY24 Q1 FY2025 Q2 FY2025 Q3 FY25 9M FY25
In € million
Reported Reported Reported Reported Reported Reported Reported Reported
France 116.7 120.8 121.6 359.1 127.1 129.6 130.4 387.1
Europe (excl. France) 69.9 71.4 73.2 214.4 76.7 79.5 79.3 235.5

Rest of the World 53.2 54.1 56.0 163.4 59.7 63.4 62.2 185.3
Total Revenue 239.8 246.3 250.8 736.9 263.5 272.5 271.9 807.9


Q1 FY2025 Q2 FY2025 Q3 FY2025 9M FY25 Q1 FY2025 Q2 FY2025 Q3 FY25 9M FY25
Growth in %
LFL LFL LFL LFL Reported Reported Reported Reported
France +8.9% +7.2% +7.2% +7.8% +8.9% +7.2% +7.2% +7.8%
Europe (excl. France) +8.9% +10.4% +8.1% +9.1% +9.9% +11.3% +8.4% +9.8%
Rest of the World +14.2% +16.5% +15.6% +15.5% +12.2% +17.2% +11.0% +13.4%
Total Revenue +10.1% +10.2% +9.3% +9.9% +9.9% +10.6% +8.4% +9.6%




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Reconciliation of like-for-like and reported growth
Q3 FY24 FX Perimeter Q3 FY24
In € million
Reported impacts impacts LFL

Private cloud 157.6 (1.7) 0.0 155.8

Public cloud 46.0 (0.3) 0.0 45.7

Webcloud & Other 47.3 0.0 0.0 47.2

Total Revenue 250.8 (2.0) 0.0 248.8




Q3 FY24 FX Perimeter Q3 FY24
In € million
Reported impacts impacts LFL

France 121.6 0.0 0.0 121.6

Europe (excl. France) 73.2 0.2 0.0 73.3

Rest of the World 56.0 (2.2) 0.0 53.8

Total Revenue 250.8 (2.0) 0.0 248.8




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