EarningsQ4 2026 Earnings Report
DE:2NX Q4 2026 EPS Results
Actual EPS<€0.01
Consensus EPS-€0.17
Beat/MissBeat by +€0.17
One Year Ago EPS>-€0.01
DE:2NX Q4 2026 Revenue Results
Actual Revenue€165.00M
Expected Revenue€157.57M
Beat/MissBeat by +€7.43M
YoY Revenue Growth+19.41%
Earnings Announcement Details
QuarterQ4 2026
Date08/27/2026
TimeBefore Open
Conference CallThursday, August 27, 2026
DE:2NX Upcoming Earnings
Nextdc Limited's next earnings date is estimated for March 2, 2027, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:2NX Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong operational and financial momentum: record contracting (495 MW), a large binding forward order book (565 MW), double-digit net revenue and EBITDA growth (16% and 15%), substantial liquidity ($8.7B) and aggressive FY'27 revenue/EBITDA guidance (>50% net revenue growth and underlying EBITDA $385M–$410M). These positives were balanced against significant near-term capital expenditure needs ($5.25B–$5.75B), higher facility and corporate costs (each +17%), remaining billing activation risk (175 MW billing vs 740 MW contracted), and regulatory/power allocation uncertainty for future sites. On balance, the call emphasised execution and funding readiness to convert a large contracted pipeline into revenue, while acknowledging near-term execution and policy risks.Company Guidance
Record Contracting Year and Forward Order Book
Contracted utilization tripled (up 202%) to 740 MW pro forma; company contracted 495 MW in FY'26 and the forward order book reached 565 MW (all binding customer contracts) which underwrites a billing ramp to 740 MW by FY'30.
Strong Revenue and EBITDA Growth
Net revenue (non-statutory) grew 16% to $405M; statutory total revenue was $496.5M (up 16%). Underlying EBITDA rose 15% to $248.8M (almost 4% above the top end of guidance). FY'27 guidance implies >50% net revenue growth to $615M–$640M and underlying EBITDA guidance of $385M–$410M.
Rapid Billing Activation and Near-Term Billing Growth
Billing utilization increased 58% to 175 MW in FY'26. Management expects 197 MW of billing activation in FY'27 and a further 221 MW in FY'28, positioning for rapid near‑term earnings growth as the forward order book converts to billing.
Material Balance Sheet Strength and Liquidity
Total assets of $10.2B with PP&E $5.8B and investment properties $3.2B; net assets ~ $6.1B. Available liquidity of $8.7B and no senior debt maturities until FY'30; $9.75B of capital raised in FY'26 (including $5.8B senior debt upsizing, $1.7B hybrids, $750M subordinated notes and $1.5B equity).
Aggressive Development Pipeline and Delivery Progress
Planned capacity >3 GW across land bank. Delivered 42 MW at M3 and 12 MW at M2 in FY'26; 537 MW of built capacity is in progress and a further 130 MW in plan; S4 upgraded to 365 MW and M5 (Melbourne) is a 1,200 MW site.
Capital Strategy and Funding Flexibility
Diverse capital initiatives underway including project financing and JV structures for S4, S7 and M5. Contracted revenues not yet billing are included in EBITDA for covenant testing, and subordinated capital (hybrids/notes) is structured to provide flexibility to senior lenders.
Operational Efficiency Shift Toward Hyperscale/AI
Billing mix now >70% from hyperscale workloads; management targets >10% yield on cost for new hyperscale/AI deployments supported by denser, more efficient cooling (including liquid-to-chip) and manufacturing-style build approaches that reduce time-to-operate (target ~9 months ground-to-operational for some builds).
Sustainability and Safety Achievements
Published first Sustainability Report under AASB S2; S2 Sydney received an Uptime Institute Sustainability Assessment Award. M3 running 27% below embodied carbon baseline and achieved 94.7% construction waste diversion at M3. Construction LTIFR 0.3 and operational LTIFR 2.2 (both well below industry benchmarks).
DE:2NX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed