Nebius Group N.V. (NBIS) Income Statement
NBIS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsNBIS revenue and net income
Where NBIS's revenue goes
2025Each bar shows an amount and its share of revenue. NBIS kept 19.2% of revenue as net income.
NBIS profit margins
NBIS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +350.9% | +239.8% | −29.0% | −4.4% |
| Gross profit | +724.5% | — | −27.3% | −4.8% |
| Operating income | — | — | — | — |
| Net income | — | −48.5% | −21.1% | −2.8% |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
NBIS quarterly EPS vs estimates
Nebius beat the analyst EPS estimate in 6 of the last 7 quarters. Next report: November 10, 2026 (estimate $-0.53).
NBIS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $529.8M | $117.5M | $20.9M | $13.5M | $4.76B | $2.95B | $2.83B | $1.83B | $1.63B | $1.23B |
| Cost of revenue | $166.2M | $73.4M | $31.9M | $28.4M | $2.32B | $1.16B | $898.8M | $515.1M | $414.8M | $321.1M |
| Gross profit | $363.6M | $44.1M | −$11.0M | −$14.9M | $2.43B | $1.79B | $1.93B | $1.32B | $1.21B | $913.1M |
| Research & development | $177.3M | $129.7M | $112.3M | $58.3M | $647.5M | $490.4M | $470.6M | $324.0M | $326.7M | $257.4M |
| Sales, general & admin | $380.1M | $277.8M | $3.02B | $2.31B | $1.65B | $845.6M | — | — | — | — |
| Total operating expenses | $959.8M | $484.8M | $316.5M | $143.1M | $2.61B | $1.58B | $1.53B | $1.02B | $991.7M | $704.2M |
| Operating income | −$596.2M | −$440.7M | −$327.5M | −$158.0M | −$177.4M | $211.5M | $395.7M | $299.1M | $222.4M | $208.8M |
| Interest income | $31.8M | $63.6M | $63.7M | $63.4M | $61.9M | $52.0M | — | — | — | — |
| Interest expense | $57.8M | $0 | $126.7M | $48.0M | $50.0M | $32.8M | $1.0M | $18.0M | $15.0M | $18.0M |
| Income before taxes | $33.0M | −$394.0M | −$339.4M | −$178.9M | −$96.5M | $493.1M | $366.1M | $752.8M | $244.1M | $180.5M |
| Income taxes | $4.0M | −$500,000 | $2.1M | $1.1M | $99.3M | $178.0M | $187.8M | $117.7M | $86.9M | $70.3M |
| Net income | $101.7M | −$641.4M | $241.3M | $745.6M | −$196.0M | $333.5M | $204.5M | $659.9M | $159.4M | $110.5M |
| EBITDA | $494.8M | −$316.7M | −$310.1M | −$103.4M | $240.8M | $424.5M | $622.9M | $461.6M | $392.6M | $341.2M |
| EPS (diluted) | −$2.16 | −$1.17 | $44.27 | $30.75 | $3.14 | $19.37 | $18.75 | $22.46 | $0.53 | $0.42 |
| Gross margin | 68.6% | 37.5% | −52.6% | −110.4% | 51.2% | 60.7% | 68.2% | 71.9% | 74.5% | 74.0% |
| Operating margin | −112.5% | −375.1% | −1,567.0% | −1,170.4% | −3.7% | 7.2% | 14.0% | 16.3% | 13.7% | 16.9% |
| Net margin | 19.2% | −545.9% | 1,154.5% | 5,523.0% | −4.1% | 11.3% | 7.2% | 36.0% | 9.8% | 9.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $582.3M | $399.0M | $227.7M | $146.1M | $105.1M | $55.3M | $37.7M | $43.3M | $12.1M | $11.3M | $6.3M | $5.0M |
| Cost of revenue | $133.6M | $315.8M | $68.5M | $42.9M | $30.1M | $29.5M | $27.4M | $18.9M | $3.3M | $8.8M | $10.3M | $7.5M |
| Gross profit | $448.7M | $83.2M | $159.2M | $103.2M | $75.0M | $25.8M | $10.4M | $24.4M | $8.8M | $2.5M | −$4.0M | −$2.5M |
| Research & development | $191.0M | $67.4M | $53.1M | $44.9M | $42.8M | $40.0M | $35.5M | $34.4M | $25.1M | $24.7M | $29.8M | $25.5M |
| Sales, general & admin | $173.9M | $143.8M | $161.5M | $89.5M | $68.2M | $66.1M | $90.6M | $53.5M | $83.0M | $49.9M | $1.19B | $43.5M |
| Total operating expenses | $624.6M | $211.2M | $393.7M | $233.4M | $186.2M | $155.3M | $159.0M | $111.4M | $104.6M | $83.4M | $96.9M | $75.1M |
| Operating income | −$175.9M | −$128.0M | −$234.5M | −$130.2M | −$111.2M | −$129.5M | −$148.6M | −$87.0M | −$95.8M | −$80.8M | −$100.9M | −$77.6M |
| Interest income | $24.1M | $14.2M | $13.5M | $6.2M | $3.6M | $8.6M | $21.9M | $28.6M | $12.7M | $21.6M | $26.3M | $500,000 |
| Interest expense | $95.0M | $63.7M | $38.3M | $14.7M | $5.0M | $0 | $72.9M | $0 | $0 | $74.0M | $47.5M | $40.0M |
| Income before taxes | −$176.7M | $615.4M | −$247.0M | −$119.9M | $503.3M | −$112.7M | −$135.2M | −$51.2M | −$60.6M | −$116.4M | −$176.4M | −$94.6M |
| Income taxes | $13.7M | −$5.8M | $2.6M | −$300,000 | $800,000 | $900,000 | −$1.7M | $600,000 | −$4.1M | $3.9M | −$27.3M | $2.2M |
| Net income | −$190.4M | $621.2M | −$249.6M | −$119.6M | $584.4M | −$113.6M | −$132.6M | −$94.2M | −$554.5M | $131.0M | −$74.7M | $84.3M |
| EBITDA | $83.8M | $920.9M | −$53.8M | −$20.9M | $527.6M | −$93.4M | −$115.4M | $40.8M | −$50.4M | $50.2M | −$625.7M | −$78.7M |
| EPS (diluted) | −$0.12 | $2.11 | −$0.99 | −$0.40 | −$0.38 | −$0.39 | −$0.37 | −$0.47 | −$0.33 | $0.00 | $31.89 | $9.04 |
| Gross margin | 77.1% | 20.9% | 69.9% | 70.6% | 71.4% | 46.7% | 27.4% | 56.4% | 72.6% | 22.5% | −63.2% | −50.0% |
| Operating margin | −30.2% | −32.1% | −103.0% | −89.1% | −105.8% | −234.2% | −393.9% | −200.9% | −792.8% | −715.6% | −1,592.2% | −1,552.0% |
| Net margin | −32.7% | 155.7% | −109.6% | −81.9% | 556.0% | −205.4% | −351.5% | −217.6% | −4,588.4% | 1,159.4% | −1,179.4% | 1,686.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in NBIS's financial statements (latest annual report filed April 30, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
NBIS financial results
In fiscal year 2025 (ended December 31, 2025), Nebius reported revenue of $529.8 million, up 350.9% from the year before. It had net income of $101.7 million, a net profit margin of 19.2%. Diluted earnings per share came to −$2.16. Over five years revenue grew at an average rate of −29.0% a year.
See the NBIS stock overview for the latest quote and news, or the NBIS chart for price history and technical indicators.
NBIS income statement FAQ
What is Nebius's annual revenue?
Nebius reported total revenue of $529.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 350.9% from $117.5 million the previous year.
Is Nebius profitable?
Yes. Nebius reported net income of $101.7 million in fiscal 2025, a net profit margin of 19.2%; its operating margin was −112.5%.
What is Nebius's gross margin?
Nebius's gross margin was 68.6% in fiscal 2025: for every $100 of revenue, Nebius kept $69 after the direct cost of its products and services.
How much does Nebius spend on research and development?
Nebius spent $177.3 million on research and development in fiscal 2025, 33.5% of revenue.
How fast is Nebius growing?
Revenue grew −29.0% a year on average over the last five fiscal years, from $2.9 billion to $529.8 million.
What are Nebius's earnings per share?
Nebius earned $-2.16 per diluted share in fiscal 2025, compared with $-1.17 a year earlier.
When will Nebius report its next earnings?
Nebius is expected to report results for the quarter ending September 30, 2026 on November 10, 2026 before the market opens.
When does Nebius's fiscal year end?
Nebius's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 30, 2026.