OVHcloud reported the financial results for the first quarter of the fiscal year 2022. For the quarter, the company’s consolidated revenue was increased by 13.9% year-over-year and reached €187 million. The company has signed new customers during the quarter, including EDF Renewables and HarfangLab. The company also stated that its acquisition channels also contributed to growth acceleration.
Revenue by segment
In the first quarter of the company’s fiscal year 2022, the private cloud segment has achieved the highest revenue among its segments. However, the public cloud segment achieved the biggest growth.
- Private Cloud, which includes Baremetal and Hosted Private Cloud, achieved revenue of €113m, with a +14.6% growth on a reported basis. The segment grew strongly in the United States and in Asia, notably via the digital channel, and worldwide thanks to significant ARPAC growth.
- Public Cloud recorded strong growth and achieved revenue of €29m over the period, delivering a +24.9% growth on a reported basis. Growth was notably driven by a strong increase in ARPAC, reflecting the success of the upsell and cross-sell efforts. Both Beta and recently released PaaS services are showing encouraging signs of adoption by our customers.
- Web Cloud & Others segment was up by +6.1% on a reported basis compared to the previous year. This performance reflects double-digit growth in the Enterprise segment, which includes partners and resellers, and the continued build-up of direct sales forces.
For the full year, the company expects:
- Revenue growth in the upper half of the target range of 10% to 15% initially set in the IPO documentation. The commercial performance recorded by the Group over the last few months is consistent with this objective.
- An adjusted EBITDA margin of around 40%, assuming inflation remains at levels consistent with FY2021.
Michel Paulin, Chief Executive Officer of OVHcloud said,
« With a 13.9% increase in revenue compared to the previous fiscal year, this first quarter confirms the Group’s ability to implement an ambitious strategy, which allows us to accelerate our growth trajectory. These results reflect the signature of large accounts, our ability to federate and extend our ecosystem of international partners, and the continued success of our international expansion, in Europe but also, in the United States and in Asia. All of these factors allow us to confidently carry out our strategy in order to assert our European leadership, capitalize on the exponential growth of the Cloud market and achieve our objectives throughout 2022. »