Nebius reports second quarter 2026 financial results

AMSTERDAM--(BUSINESS WIRE)--Nebius Group N.V. (NASDAQ: NBIS), the AI cloud company, today announced its unaudited financial results for the three and six months ended June 30, 2026. The Company today also published founder and CEO Arkady Volozh’s quarterly letter to shareholders, available on its investor relations website at https://nebius.com/investor-hub. Management will hold an earnings webcast today at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time / 2:00 p.m. Central European Time). To register, or to listen to the live audio webcast, please visit https://nebius.com/investor-hub. Q2 2026 Financial Highlights Consolidated results (1), (2) In USD $ millions Three months ended June 30 Six months ended June 30 2025 2026 Change 2025 2026 Change Revenues 105.1 582.3 454% 156.0 981.3 529% Adjusted EBITDA / (loss) (21.0) 236.2 n/m (74.7) 365.7 n/m Net income / (loss) from continuing operations 502.5 (190.4) n/m 398.2 430.8 8% Adjusted net loss (91.5) (33.2) -64% (175.2) (133.5) -24% (1) The following measures presented in this release are “non-GAAP financial measures”: Adjusted EBITDA / (loss) and Adjusted net loss. Please see the section “Use of Non-GAAP Financial Measures” below for a discussion of how we define these measures, as well as reconciliations at the end of this release of each of these measures to the most directly comparable U.S. GAAP measures. (2) Results include consolidated financial results of: Nebius AI cloud, the core AI cloud business; Avride, an autonomous vehicle platform; and TripleTen, an edtech service. In Q2 2025 following the completion of a third-party investment transaction in Toloka, an AI development platform, Nebius ceased to hold majority voting power in Toloka and no longer includes Toloka’s results in Nebius’ consolidated financial statements and reports its stake as an equity method investment. Toloka’s results for prior periods have been reclassified to discontinued operations. Operating expenses In USD $ millions Three months ended June 30 Six months ended June 30 2025 2026 Change 2025 2026 Change Cost of revenues 30.1 133.6 344% 54.8 237.4 333% as a percentage of revenues 29% 23% 35% 24% Product development 42.8 191.0 346% 79.3 258.4 226% as a percentage of revenues 41% 33% 51% 26% Sales, general and administrative 68.2 173.9 155% 129.1 317.7 146% as a percentage of revenues 65% 30% 83% 32% Depreciation and amortization 75.2 259.7 245% 124.3 471.7 279% as a percentage of revenues 72% 45% 80% 48% Total operating costs and expenses 216.3 758.2 251% 387.5 1,285.2 232% as a percentage of revenues 206% 130% 248% 131% Total share-based compensation expense 14.7 102.5 597% 32.1 137.8 329% as a percentage of operating costs and expenses 7% 14% 8% 11% Selected consolidated cash flow data In USD $ millions Three months ended June 30 Six months ended June 30 2025 2026 Change 2025 2026 Change Net cash provided by / (used in) operating activities – continuing operations (167.7) 2,246.1 n/m (352.0) 4,504.1 n/m Purchases of property and equipment and intangible assets (510.6) (5,657.4) 1008% (1,054.5) (8,130.3) 671% Outstanding Shares The total number of shares issued and outstanding as of June 30, 2026 was 271,855,218, including 238,400,165 Class A shares and 33,455,053 Class B shares, and excluding 50,185,726 Class A shares held in treasury. Earnings webcast Nebius Group will host a conference call and earnings webcast at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time / 2:00 p.m. Central European Time) on August 12, 2026 to discuss these financial results. To register to participate in the conference call, or to listen to the live audio webcast, please visit Nebius’s Investor Relations website at group.nebius.com/investor-hub. A replay will be available on the same website following the call. About Nebius Nebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future — from data and model training to production deployment. Founded on deep in-house technological expertise and operating at scale with a rapidly expanding global footprint, Nebius serves startups and enterprises building AI products, agents, and services worldwide. Nebius Group also includes Avride (a leading developer of autonomous vehicles and delivery robots) and TripleTen (a leading edtech platform reskilling people for careers in tech), and owns equity stakes in other companies including ClickHouse and Toloka. Nebius is listed on Nasdaq (NASDAQ: NBIS) and headquartered in Amsterdam. For more information, please visit www.nebius.com FORWARD-LOOKING STATEMENTSRead the full story here

Nebius reports second quarter 2026 financial results

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