Nebius Group NV
F:YDX

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Nebius Group NV Logo
Nebius Group NV
F:YDX
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Price: 186 EUR -4.62% Market Closed
Market Cap: €67.2B

Nebius Group NV
Investor Relations

Nebius Group NV is a technology company focused on building and running infrastructure for artificial intelligence. Its core business is an AI cloud that gives developers, startups, and enterprise teams access to large-scale computing power, especially graphics chips, along with the software and tools needed to train and run AI models. It also has other AI-related businesses that support the same ecosystem, including data services, education, and autonomous driving projects. The company makes money mainly by charging customers for cloud usage and related services. Customers pay for the computing capacity, storage, and managed infrastructure they use, rather than buying the hardware themselves. That puts Nebius in the middle of the AI value chain: it supplies the specialized computing layer that AI builders need before they can create products for end users. What makes Nebius different is its focus on AI infrastructure rather than general-purpose cloud services. Instead of trying to serve every kind of IT workload, it concentrates on high-performance systems built for AI training and inference. That narrower focus can make it a useful partner for companies that need specialized computing and want a provider designed around AI workloads from the start.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Aug 12, 2026
AI Summary
Q2 2026

Strong growth: Nebius said Q2 revenue rose 454% to $582 million, with annualized run rate revenue reaching $3 billion, driven by higher capacity, better utilization, and new high-margin businesses.

Profitability improved: Adjusted EBITDA reached $236 million and margin expanded to 41%, as the company benefited from higher revenue and early contributions from its new asset-light model and Token Factory.

Demand stayed ahead of supply: Management said it sold out of capacity again in the quarter and believes it could sell its entire 2027 capacity today on current terms, though it is choosing to keep some capacity for shorter-term, higher-margin deals.

Guidance reaffirmed: Full-year 2026 guidance was unchanged across all metrics, including annualized run rate revenue of $7 billion to $9 billion, group revenue of $3 billion to $3.4 billion, adjusted EBITDA margin of approximately 40%, and capital expenditures of $20 billion to $25 billion.

Funding looks strong: The company highlighted more than $9 billion of customer prepayments expected in 2026, $8 billion of cash at quarter-end, and a new $775 million asset-backed debt facility, while keeping the ATM and other financing tools available.

Capacity pipeline expanded: Nebius raised its year-end contracted power target to 5 gigawatts and said it plans to build more than 1 gigawatt of new capacity a year in 2027.

Key Financials
Group revenue
$582 million
Nebius AI revenue
$575 million
Annualized run rate revenue
$3 billion
Group adjusted EBITDA
$236 million
Group adjusted EBITDA margin
41%
Nebius AI adjusted EBITDA
$236 million
Nebius AI adjusted EBITDA margin
50%
Customer prepayments
more than $9 billion
Operating cash
$2.3 billion
Cash and cash equivalents
$8 billion
ATM equity issuance
12.7 million Class A shares
ATM weighted average price
$224 per share
ATM gross proceeds
approximately $2.8 billion
ATM remaining capacity
12.3 million shares
Asset-backed debt facility
$775 million
CapEx
approximately $5.7 billion
Contracted backlog
$40 billion
Year-end contracted power target
5 gigawatts
Q2 deal prepayment coverage
roughly 50% to 60% of associated CapEx
Revenue from landmark deals
average of more than $1 billion each
Yield per megawatt on landmark deals
$20 million to $25 million per megawatt
Short-term deal pricing
$40 million to $50 million per megawatt
Auction clearing price
15% above the highest price ever charged before
2026 connected power guidance
800 megawatts to 1 gigawatt
Earnings Call Recording
Other Earnings Calls

Management

Mr. Arkady Volozh
CEO & Non-Independent Executive Director
No Bio Available
Ron Jacobs
Chief Financial Officer
No Bio Available
Dr. Ophir Nave
COO & Non-Independent Executive Director
No Bio Available
Tom Blackwell
Chief Communications Officer
No Bio Available
Mr. Roman Chernin
Chief Business Officer
No Bio Available
Ms. Elena Bunina
Head of Science & Education and Non-Independent Non-Executive Director
No Bio Available
Andrey Korolenko
Chief Product & Infrastructure Officer
No Bio Available

Contacts

Address
NOORD-HOLLAND
Schiphol
Schiphol Boulevard 165
Contacts
+31202066970
group.nebius.com