French cloud services provider OVH (OVH.PA) reported a 9.35% increase in third-quarter revenue, reaching 272 million euros ($287 million), mainly driven by strong demand for its Public Cloud services. The company reaffirmed its full-year revenue outlook and said it remains on track to surpass the 1 billion euro mark by year-end.

Revenue from OVH’s Public Cloud segment rose by 17%, supported by a 12% increase in new customer acquisitions. Its Private Cloud division also delivered solid performance, with new customer growth up by 25%. CEO Benjamin Revcolevschi attributed this to the repositioning of certain offerings, aligning them more closely with evolving customer needs. OVH's recent inclusion in France's SBF 120 index in June has highlighted its rising prominence. The company's stock has soared over 170% year-to-date, according to LSEG data, reflecting investor confidence and market optimism around its growth strategy.

Revcolevschi noted that OVH is experiencing a shift in market dynamics, with growing interest in sovereign cloud solutions — services that ensure local control over data and infrastructure. This trend is being fueled by increasing concerns in Europe around digital sovereignty and the desire for homegrown cloud alternatives.

Previously, OVH emphasized the European market’s rising preference for locally developed digital services as businesses seek more secure and compliant infrastructure options. With its strong growth across both Public and Private Cloud segments, OVH positions itself as a key player in meeting this demand.