{"id":1020268,"date":"2026-11-12T09:14:57","date_gmt":"2026-11-12T14:14:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nebius-reports-third-quarter-2026-financial-results\/"},"modified":"2026-11-12T09:14:57","modified_gmt":"2026-11-12T14:14:57","slug":"nebius-reports-third-quarter-2026-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nebius-reports-third-quarter-2026-financial-results\/","title":{"rendered":"Nebius reports third quarter 2026 financial results"},"content":{"rendered":"

<\/p>\n

Nebius reports third quarter 2026 financial results<\/b><\/p>\n

AMSTERDAM–(BUSINESS WIRE<\/a>)–
\nNebius Group N.V. (NASDAQ: NBIS), the AI cloud company, today announced its unaudited financial results for the three and nine months ended September 30, 2026.<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20261112208769\/en\/<\/a><\/p>\n

\"\"<\/div>\n

\nThe Company today also published founder and CEO Arkady Volozh\u2019s quarterly letter to shareholders, available on its investor relations website at https:\/\/nebius.com\/investor-hub<\/a>.<\/p>\n

\nManagement 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<\/a>.<\/p>\n

Q3 2026 Financial Highlights<\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

Consolidated results (1), (2)<\/sup><\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

In USD $ millions<\/i><\/b><\/p>\n<\/td>\n

\n

Three months ended September 30<\/b><\/p>\n<\/td>\n

\n

Nine months ended September 30<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenues<\/p>\n<\/td>\n

\n

\n146.1<\/p>\n<\/td>\n

\n

\n980.8<\/p>\n<\/td>\n

\n

571%<\/i><\/p>\n<\/td>\n

\n

\n302.1<\/p>\n<\/td>\n

\n

\n1,962.1<\/p>\n<\/td>\n

\n

549%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA \/ (loss)<\/p>\n<\/td>\n

\n

\n(5.2)<\/p>\n<\/td>\n

\n

\n465.8<\/p>\n<\/td>\n

\n

n\/m<\/i><\/p>\n<\/td>\n

\n

\n(79.9)<\/p>\n<\/td>\n

\n

\n831.5<\/p>\n<\/td>\n

\n

n\/m<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income \/ (loss) from continuing operations<\/p>\n<\/td>\n

\n

\n(119.6)<\/p>\n<\/td>\n

\n

\n(37.5)<\/p>\n<\/td>\n

\n

-69%<\/i><\/p>\n<\/td>\n

\n

\n278.6<\/p>\n<\/td>\n

\n

\n393.3<\/p>\n<\/td>\n

\n

41%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted net income \/ (loss)<\/p>\n<\/td>\n

\n

\n(100.4)<\/p>\n<\/td>\n

\n

\n90.9<\/p>\n<\/td>\n

\n

n\/m<\/i><\/p>\n<\/td>\n

\n

\n(273.7)<\/p>\n<\/td>\n

\n

\n(42.6)<\/p>\n<\/td>\n

\n

-84%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n(1) The following measures presented in this release are \u201cnon-GAAP financial measures\u201d: Adjusted EBITDA \/ (loss) and Adjusted net income \/ (loss). Please see the section \u201cUse of Non-GAAP Financial Measures\u201d 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.<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n
\n

\n(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\u2019s results in Nebius\u2019 consolidated financial statements and reports its stake as an equity method investment. Toloka\u2019s results for prior periods have been reclassified to discontinued operations.<\/p>\n<\/td>\n<\/tr>\n

\u00a0<\/td>\n<\/tr>\n
<\/tr>\n
\n

Operating costs and expenses<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

In USD $ millions<\/i><\/b><\/p>\n<\/td>\n

\n

Three months ended September 30<\/b><\/p>\n<\/td>\n

\n

Nine months ended September 30<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nCost of revenues<\/p>\n<\/td>\n

\n

\n42.9<\/p>\n<\/td>\n

\n

\n219.7<\/p>\n<\/td>\n

\n

412%<\/i><\/p>\n<\/td>\n

\n

\n97.7<\/p>\n<\/td>\n

\n

\n457.1<\/p>\n<\/td>\n

\n

368%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of revenues<\/i><\/p>\n<\/td>\n

\n

29%<\/i><\/p>\n<\/td>\n

\n

22%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

32%<\/i><\/p>\n<\/td>\n

\n

23%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nProduct development<\/p>\n<\/td>\n

\n

\n44.9<\/p>\n<\/td>\n

\n

\n118.6<\/p>\n<\/td>\n

\n

164%<\/i><\/p>\n<\/td>\n

\n

\n124.2<\/p>\n<\/td>\n

\n

\n377.0<\/p>\n<\/td>\n

\n

204%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of revenues<\/i><\/p>\n<\/td>\n

\n

31%<\/i><\/p>\n<\/td>\n

\n

12%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

41%<\/i><\/p>\n<\/td>\n

\n

19%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSales, general and administrative<\/p>\n<\/td>\n

\n

\n89.5<\/p>\n<\/td>\n

\n

\n237.4<\/p>\n<\/td>\n

\n

165%<\/i><\/p>\n<\/td>\n

\n

\n218.6<\/p>\n<\/td>\n

\n

\n555.1<\/p>\n<\/td>\n

\n

154%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of revenues<\/i><\/p>\n<\/td>\n

\n

61%<\/i><\/p>\n<\/td>\n

\n

24%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

72%<\/i><\/p>\n<\/td>\n

\n

28%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDepreciation and amortization<\/p>\n<\/td>\n

\n

\n99.0<\/p>\n<\/td>\n

\n

\n354.7<\/p>\n<\/td>\n

\n

258%<\/i><\/p>\n<\/td>\n

\n

\n223.3<\/p>\n<\/td>\n

\n

\n826.4<\/p>\n<\/td>\n

\n

270%<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of revenues<\/i><\/p>\n<\/td>\n

\n

68%<\/i><\/p>\n<\/td>\n

\n

36%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

74%<\/i><\/p>\n<\/td>\n

\n

42%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Total operating costs and expenses<\/b><\/p>\n<\/td>\n

\n

276.3<\/b><\/p>\n<\/td>\n

\n

930.4<\/b><\/p>\n<\/td>\n

\n

237%<\/i><\/b><\/p>\n<\/td>\n

\n

663.8<\/b><\/p>\n<\/td>\n

\n

2,215.6<\/b><\/p>\n<\/td>\n

\n

234%<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of revenues<\/i><\/p>\n<\/td>\n

\n

189%<\/i><\/p>\n<\/td>\n

\n

95%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

220%<\/i><\/p>\n<\/td>\n

\n

113%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Total share-based compensation expense<\/b><\/p>\n<\/td>\n

\n

26.1<\/b><\/p>\n<\/td>\n

\n

58.7<\/b><\/p>\n<\/td>\n

\n

125%<\/i><\/b><\/p>\n<\/td>\n

\n

58.3<\/b><\/p>\n<\/td>\n

\n

196.5<\/b><\/p>\n<\/td>\n

\n

237%<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

as a percentage of operating costs and expenses<\/i><\/p>\n<\/td>\n

\n

9%<\/i><\/p>\n<\/td>\n

\n

6%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

9%<\/i><\/p>\n<\/td>\n

\n

9%<\/i><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n
\n

Selected consolidated cash flow data<\/b><\/p>\n<\/td>\n

\n\n\n\n\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

In USD $ millions<\/i><\/b><\/p>\n<\/td>\n

\n

Three months ended September 30<\/b><\/p>\n<\/td>\n

\n

Nine months ended September 30<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n

\n

2025<\/b><\/p>\n<\/td>\n

\n

2026<\/b><\/p>\n<\/td>\n

\n

Change<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet cash provided by \/ (used in) operating activities \u2013 continuing operations<\/p>\n<\/td>\n

\n

\n(80.6)<\/p>\n<\/td>\n

\n

\n(273.0)<\/p>\n<\/td>\n

\n

239%<\/i><\/p>\n<\/td>\n

\n

\n(432.4)<\/p>\n<\/td>\n

\n

\n4,231.1<\/p>\n<\/td>\n

\n

n\/m<\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\nPurchases of property and equipment and intangible assets<\/p>\n<\/td>\n

\n

\n(955.5)<\/p>\n<\/td>\n

\n

\n(7,300.4)<\/p>\n<\/td>\n

\n

664%<\/i><\/p>\n<\/td>\n

\n

\n(2,010.0)<\/p>\n<\/td>\n

\n

\n(15,430.7)<\/p>\n<\/td>\n

\n

668%<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Outstanding Shares<\/b><\/p>\n

\nThe total number of shares issued and outstanding <\/b>as of September 30, 2026 was 292,902,405, including 259,597,352 Class A shares and 33,305,053 Class B shares, and excluding 29,138,539 Class A shares held in treasury.<\/p>\n

Earnings webcast<\/b><\/p>\n

\nNebius 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 November 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\u2019s Investor Relations website at https:\/\/nebius.com\/investor-hub<\/a>.<\/p>\n

\nA replay will be available on the same website following the call.<\/p>\n

About Nebius<\/b><\/p>\n

\nNebius, the AI cloud company, is building the full-stack platform for developers and companies to take charge of their AI future \u2014 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.<\/p>\n

\nNebius 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.<\/p>\n

\nNebius is listed on Nasdaq (NASDAQ: NBIS) and headquartered in Amsterdam.<\/p>\n

\nFor more information, please visit www.nebius.com<\/a><\/p>\n

FORWARD-LOOKING STATEMENTS<\/b><\/p>\n

\nThis document contains forward-looking statements that involve risks and uncertainties. All statements contained or implied other than statements of historical facts, including, without limitation, statements regarding our business plans, market opportunities, capacity buildout plans, capital expenditure requirements, financing requirements and projected financial performance, are forward-looking statements. In some cases, these forward-looking statements can be identified by words or phrases such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201caim,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cis\/are likely to\u201d or other similar expressions. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include our ability to: obtain sufficient financing and manage our liquidity and capital resources to support our operations and growth; successfully identify, develop and bring online additional data center capacity on a timely and cost-effective basis, including securing suitable sites and access to power; implement and maintain effective internal control over financial reporting; manage supply chain risks and secure required equipment, hardware, materials and services on acceptable terms; compete effectively in a dynamic and competitive market while generating sustained customer demand; and manage dependence on key vendors and adapt to technological change.<\/p>\n

\nMany of these risks and uncertainties depend on the actions of third parties and are largely outside of our control. Our actual results of operations may also differ materially from those stated in or implied by such forward-looking statements as a result of a variety of factors, including those described under the captions \u201cRisk Factors\u201d and \u201cOperating and Financial Review and Prospects\u201d in our Annual Report on Form 20-F for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (\u201cSEC\u201d) on April 30, 2026, which is available on our investor relations website at https:\/\/group.nebius.com<\/a> and on the SEC website at www.sec.gov<\/a>. All information in this document is as of the date hereof, and the Company undertakes no duty to update this information unless required by law.<\/p>\n

\nIn addition, statements that \u201cwe believe\u201d and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this document, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely upon these statements.<\/p>\n

\nWe operate in an evolving environment. New risks emerge from time to time, and it is not possible for our management to predict all risks, nor can we assess the effect of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.<\/p>\n

Disclaimer<\/i><\/p>\n

\nLinks to third-party websites are provided for informational purposes only; Nebius is not responsible for the content contained on or accessible through the linked sites.<\/p>\n

USE OF NON-GAAP FINANCIAL MEASURES<\/b><\/p>\n

\nTo supplement the financial information prepared and presented in accordance with U.S. GAAP, we present the following non-GAAP financial measures: Adjusted EBITDA \/ (loss) and Adjusted net income \/ (loss). The presentation of these financial measures is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with U.S. GAAP. For more information on these non-GAAP financial measures, please see the tables captioned \u201cReconciliations of non-GAAP financial measures to the most directly comparable U.S. GAAP measures\u201d, included following the accompanying financial tables. We define the various non-GAAP financial measures we use as follows:<\/p>\n