OVH Groupe S.A. Q4 2026 Earnings Recap

Shares rose 13.4% after OVHcloud reported FY 2026 revenue growth of 7.2%, slightly above its guidance, and generated nearly €25 million of net free cash flow. Investors also heard that growth accelerated in the second half, while management outlined plans to invest in AI and use available data-center capacity to support expansion.

Key Takeaways

• FY 2026 growth was 7.2%, which management said was slightly above guidance; EBITDA increased by 42%.
• Net free cash flow was nearly €25 million, and CapEx came in below guidance. Management cautioned that the 42% EBITDA increase should not be taken as a guide for FY 2027.
• Management cited faster momentum in H2 than H1, including more than double the customer-acquisition volume in some digital-starter products and stronger growth in the final quarter for corporate customers.
• OVHcloud has 250 MW of data-center capacity, with about 140 MW connected and 110 MW available. Management said it plans to use this capacity to support growth.
• The company modestly increased prices to generate additional cash for investment, and is developing AI offerings including GPU capacity, token services, and AI workspace products.