Cloud.ru Doubles Bond Issue to 20 Billion Rubles as Revenue Jumps 50%

Cloud.ru (formerly SberCloud), a provider of cloud services and artificial intelligence technologies, has successfully completed placement of its second exchange-traded bond issue, series 001P-02, worth 20 billion rubles. The announcement came on October 9, 2026, when the order book closed.

Bond placement: demand triples supply

Investor demand for the placement significantly exceeded the offered volume. The initial marketed volume was 10 billion rubles, but total demand exceeded it more than threefold. At the final coupon rate, demand totaled roughly 30 billion rubles. This allowed the company to double the placement volume to 20 billion rubles.

The coupon rate was set using the formula: the Central Bank's key rate plus 1.6 percentage points, with a circulation term of 2.5 years. Coupon payments will be made every 30 days. Strong demand allowed the company to lower the final rate by 40 basis points from the original plan.

Order collection took place on October 8, 2026, via open subscription, with technical placement and the start of trading scheduled for October 13. Demand came from both institutional investors (asset managers, insurers, banks, pension funds) and retail investors, fully covering the order book.

Cloud.ru's reliability as an issuer has been confirmed by independent rating agencies: ACRA assigned the company a rating of AA+(RU) with a stable outlook (February 2026), while Expert RA assigned ruAA+ with a stable outlook.

2025 financial results: revenue at 76.5 billion, profit growing faster

On April 9, 2026, Cloud.ru announced its 2025 financial results. Revenue totaled 76.5 billion rubles, up 50% compared to 2024's figure (50.9 billion rubles). Net profit grew 86% to 14.7 billion rubles (versus 7.9 billion rubles in 2024). EBITDA came in at 58.0 billion rubles, 71% higher than in 2024.

AI services surpass half of revenue

For the first time, the share of services and infrastructure for artificial intelligence exceeded half of total revenue, reaching 54%, or 41.0 billion rubles. In 2024, the same figure stood at 47% (23.7 billion rubles).

The main consumers of AI services and related infrastructure were distributed across sectors as follows: • IT — 29% • Retail — 20% • Industry — 12% • Financial sector — 10% • Development — 8%

Revenue from core cloud services grew 31%, from 27.2 billion rubles in 2024 to 35.5 billion rubles in 2025. This growth rate outpaces average figures for the Russian cloud market.

Infrastructure: 43,000 units of equipment across nine data centers

Cloud.ru's infrastructure includes more than 43,000 units of IT equipment, over 29,000 of which are servers. The company operates on the basis of nine data centers with a total rack capacity in use of 56 MW.

CEO Mikhail Lobotsky noted that demand for generative AI services has become an additional driver of cloud market growth. According to him, consumption of core cloud services has also increased. The company's accumulated expertise in infrastructure management and the creation of new services has allowed it to offer products the market is seeking.

"Efficient operation in the public capital market lets us actively invest in business growth and scaling. We're launching products capable of competing with developments from global leaders in cloud and AI," Lobotsky said.