DJ 2CRSi SA: First Half 2025/26 Results: Revenue of EUR204.7 million (x9.8) EBITDA of EUR9.6 million (x4.6)
2CRSi SA
2CRSi SA: First Half 2025/26 Results: Revenue of EUR204.7 million (x9.8) EBITDA of EUR9.6 million (x4.6)
26-March-2026 / 19:09 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press Release
First Half 2025/26 Results:
Revenue of EUR204.7 million (x9.8)
EBITDA of EUR9.6 million (x4.6)
Strasbourg, France - March 26, 2026 - 2CRSi (ISIN: FR0013341781), a designer and manufacturer of high-performance,
energy-efficient servers, announces its results for the first half of fiscal year 2025/2026, ended December 31, 2025.
The Group delivered a strong performance, driven by structurally robust demand for infrastructure dedicated to
artificial intelligence and high-performance computing.
Key Income Statement Items 6 months ended 6 months ended
(in thousands of euros) 12/31/2025 12/31/2024
Revenue 204 740 20 854
Other operating income 2 311 901
Operating expenses (9 775) (7 440)
EBITDA 9 641 2 036
Consolidated net income 8 568 2 554
(Group share)
Key Balance Sheet Items
12/31/2025 06/30/2024
(in thousands of euros)
Net financial debt 2 271 11 865
Shareholders' equity (Group share) 38 689 29 191
Financial statements approved by the Board of Directors on March 26, 2025, not audited.
Link to the Half-Year Financial Report as of December 31, 2025 (in French only).
Revenue exceeding EUR204 million.
An increase of +880% compared to the same period of the previous fiscal year. This growth is primarily driven by the commercial success of the Godì 1.8 range, for which demand has remained particularly strong across all addressed geographic regions.
The gradual expansion of the customer base has positively contributed to momentum in the North American, European, and Asian markets, confirming the relevance of the Group's international positioning. From a sector perspective, sales to NeoCloud players, as well as deliveries to the Defense sector, have provided additional growth drivers.
EBITDA of EUR9.6 million in line with expectations.
During the period, purchases increased significantly from EUR12.3 million in the previous year to EUR187.6 million. This rise is directly linked to the acceleration of activity and the need for supplies to ensure the proper execution of a record order backlog.
EBITDA therefore reflects the structure of the revenue product mix, which is predominantly composed of sales of the Godì 1.8 range. In the context of the commercial ramp-up initiated over the past two years, this product mix illustrates the Group's deployment trajectory, which is expected to evolve with the gradual diversification of the offering and an anticipated move upmarket in the coming periods.
A solid financial structure
As of December 31, 2025, the Group's consolidated gross financial debt amounted to EUR11,202 thousand, including EUR4,309 thousand in bank loans, EUR5,972 thousand in lease liabilities, EUR667 thousand in short-term bank facilities, and EUR254 thousand in other borrowings. After taking into account EUR8,931 thousand in gross cash and a net debt of EUR2,271 thousand, the net debt ratio stands at 5.87% of shareholders' equity. This controlled level of debt reflects a solid financial structure and provides the Group with significant capacity to finance its growth.
A rapidly expanding market
The artificial intelligence infrastructure market is experiencing unprecedented acceleration, driven by the widespread adoption of generative AI use cases. However, this momentum is also accompanied by tensions in critical components (DRAM, NAND, processors) and logistical constraints, which may impact project execution timelines depending on external factors such as geopolitical conditions or component availability.
Update on key previously announced orders
The order of approximately EUR290 million, announced in September 2025, will be executed during summer 2026, with an approximate three-month delay due to the adaptation of the client's energy infrastructure in California, with no impact for 2CRSi on the contract value.
The EUR140 million contract announced in February 2026 is currently being delivered in Japan and will be fully executed by the end of June.
The USD 48 million contract for Malaysia is subject to an adjustment related to regulatory constraints; the positive impact on second-half revenue is close to EUR10 million. All other announced orders have been fully executed.
Upgrade of the EUR300 million revenue target for 2025/2026
In light of secured contracts and deliveries already completed, 2CRSi confirms that exceeding its initial annual revenue target of over EUR300 million will be achieved. Despite an environment marked by supply chain tensions, the Group maintains a strong growth trajectory and a particularly dynamic order backlog.
In this context, 2CRSi is now targeting a level of activity that could exceed EUR400 million for the fiscal year, as well as EBITDA above EUR36 million, depending on the pace of project deployment.
A particularly strong outlook for 2026/2027: targeting EUR1 billion in revenue
For the next fiscal year, the Group benefits from strong commercial visibility, with the ambition of surpassing EUR1 billion in revenue without the need to access capital markets to support this organic growth.
The maturation of several structuring projects supports this ambition, including the gradual deployment of infrastructure in the United States and the delivery of the first servers to the "ÆTHER Infrastructures" consortium at the 40 MW site located in the Grand Est region, announced on February 18, 2026.
Building on a record first half, a solid financial structure, and a strategic positioning at the heart of artificial intelligence infrastructure, 2CRSi confirms its ability to fully capitalize on market growth, leveraging its technological expertise and industrial execution capabilities.
About 2CRSi
Founded in 2005 in Strasbourg (France), 2CRSi designs, develops, and manufactures high-performance computer servers and innovative solutions for Artificial Intelligence, high-performance computing, and data storage. Committed to a responsible and sustainable approach, the group operates across multiple continents and delivers energy-efficient technological solutions to sectors including tech, industry, gaming, scientific research, and datacenters. 2CRSi has been listed since June 2018 on the Euronext Paris regulated market (ISIN code: FR0013341781) and transferred to Euronext Growth in November 2022.
For more information: 2crsi.com
Contacts 2CRSi
2CRSi
Seitosei.Actifin Seitosei.Actifin
Jean-Philippe
LLOBERA
Foucauld Charavay Press Relations
Director France
Financial communication foucauld.charavay@seitosei-actifin.com presse@seitosei-actifin.com
Foucauld.charavay@seitosei-actifin.com
press@2crsi.com
06 85 36 85 11
06 37 83 33 19
03 68 41 10 70
----------------------------------------------------------------------------------------------------------------------- Regulatory filing PDF file
File: 2CRSi announces an increase in its half-year result by 4.6
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Language: English
Company: 2CRSi SA
32, rue Jacobi-Netter
67200 Strasbourg
France
Phone: +33 3 68 41 10 70
E-mail: investors@2crsi.com
Internet: www.2crsi.com
ISIN: FR0013341781
Euronext Ticker: AL2SI
AMF Category: Inside information / News release on accounts, results
EQS News ID: 2298872
End of Announcement EQS News Service
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2298872 26-March-2026 CET/CEST
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March 26, 2026 14:09 ET (18:09 GMT)
