OVHcloud Posts First Positive Cash Flow Since IPO

OVHcloud reported fiscal 2026 revenue of about €1.15 billion, up 7.2% on a comparable basis, and generated €24.7 million in positive levered free cash flow for the first time since its 2021 listing, reversing a €27 million outflow a year earlier. Adjusted EBITDA rose 9.7% to €480.5 million, with a 42% margin, while net debt fell to 2.7 times adjusted EBITDA. Growth was strongest in public cloud, where revenue increased 18.9%, and among Digital Scalers, larger customers whose revenue rose 12.4%. CEO Octave Klaba attributed the performance to cost discipline and changes to the company’s sales and commercial operations. For fiscal 2027, OVHcloud forecasts comparable revenue growth above 10%, an adjusted EBITDA margin above 42.5%, and continued positive cash flow; available liquidity and no significant debt repayments before 2030 also ease near-term funding concerns.