NBIS on Nasdaq

Nebius Group

Logo: nebius.group⁴

Dutch technology company

Nebius Group N.V., headquartered in Amsterdam, is a technology company that provides artificial intelligence infrastructure. It is headquartered in Amsterdam with offices in Israel and the United States.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

$529.8MRevenue, fiscal 2025⁵

$82.5MNet income, fiscal 2025⁵

2004Founded¹

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TickerNBIS on Nasdaq¹
Industryartificial intelligence, information technology industry¹
HeadquartersAmsterdam¹
Websitenebius.group
Legal formnaamloze vennootschap¹
Incorporated inNetherlands⁶
Business addressBurgerweeshuispad 101, Amsterdam, 1076 Er⁶
Filer categoryLarge accelerated filer⁶

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Nebius Group image from its website — Image: nebius.group⁴

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-115.5%Operating margin⁵

15.6%Net margin⁵

479.0%Revenue growth, 2025⁵

1.8%Return on equity⁵

0.89×Debt to equity⁵

-$3.7BFree cash flow⁵

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Nebius brought in 90% of the revenue Nebius Group broke down this way in fiscal 2025.

Nebius$480.3M⁵90%up 603% from 2024
Triple Ten$54.1M⁵10%up 88% from 2024
AvRide$1.3M⁵0%up 333% from 2024

Business segments by year

Business segments	2023	2024	2025
Nebius	$9.6M	$68.3M	$480.3M
Triple Ten	$8.2M	$28.8M	$54.1M
AvRide		$300.0K	$1.3M

Regions

United States brought in 64% of the revenue Nebius Group broke down this way in fiscal 2025.

United States$340.1M⁵64%up 727% from 2024
United Kingdoms$137.5M⁵26%up 450% from 2024
Segment Geographical Area Other Than Unites States And United Kingdom$52.2M⁵10%up 106% from 2024

Regions by year

Regions	2023	2024	2025
United States	$5.4M	$41.1M	$340.1M
United Kingdoms		$25.0M	$137.5M
Segment Geographical Area Other Than Unites States And United Kingdom	$4.4M	$25.4M	$52.2M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueResearch and developmentSelling, general and admin

Cost of revenue21¢$166.2M
Research and development22¢$177.3M
Selling, general and admin47¢$380.1M
Income tax0¢$4.0M
Profit10¢$82.5M

Out of $529.8M in revenue.⁵

Where each dollar of operating cash went, fiscal 2025

Capital spending

Capital spending100¢$4.1B

Out of $384.8M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁵

Financial statements

Revenue⁸⁹¹⁰¹¹¹²⁵$529.8M in 2025−71% since 2018

Operating income⁸⁹¹⁰¹¹¹²⁵-$611.7M in 2025

Net income⁸⁹¹⁰¹¹¹²⁵$82.5M in 2025−88% since 2018

Every line of the income statement in the latest annual report, as filed.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Revenues	$529.8M	$91.5M	$9.8M
Cost of revenues	$166.2M	$43.7M	$19.6M
Product development	$177.3M	$114.8M	$87.1M
Sales, general and administrative	$380.1M	$255.5M	$159.5M
Depreciation and amortization	$417.9M	$77.1M	$29.3M
Total operating costs and expenses	$1.1B	$491.1M	$295.5M
Loss from operations	-$611.7M	-$399.6M	-$285.7M
Interest income	$31.8M	$63.6M	$3.3M
Interest expense	-$61.5M	$0	$0
Gain from revaluation of investments in equity securities	$598.9M
Income / (loss) from equity method investments	-$24.3M	$400.0K	-$10.9M
Other income / (loss), net	$80.6M	-$17.4M	-$3.7M
Net income / (loss) before income taxes	$13.8M	-$353.0M	-$297.0M
Income tax expense / (benefit)	$4.0M	-$1.0M	$2.0M
Net income / (loss) from continuing operations	$9.8M	-$352.0M	-$299.0M
Net income / (loss) from discontinued operations	$72.7M	-$289.4M	$564.9M
Net income / (loss)	$82.5M	-$641.4M	$265.9M
Net income from discontinued operations attributable to non-controlling interests			-$24.6M
Net income / (loss) attributable to Nebius Group N.V.	$82.5M	-$641.4M	$241.3M
Basic (in dollars per share)	$0	-$1	-$1
Diluted (in dollars per share)	$0	-$1	-$1
Basic (in dollars per share)	$0	-$1	$1
Diluted (in dollars per share)	$0	-$1	$1
Basic (in dollars per share)	$0.34	-$2.28	$0.65
Diluted (in dollars per share)	$0.33	-$2.28	$0.65
Basic (in shares)	242.5M shares	281.0M shares	370.8M shares
Diluted (in shares)	247.7M shares	281.0M shares	370.8M shares
Share-based compensation expenses	$83.4M	$120.3M	$370.0M

Total assets⁸⁹¹⁰¹¹¹³¹²⁵$12.4B in 2025+257% since 2018

Total liabilities⁸⁹¹⁰¹¹¹³¹²⁵$7.8B in 2025+2004% since 2018

Shareholders’ equity⁸⁹¹⁰¹¹¹³¹²⁵$4.6B in 2025+77% since 2018

Cash⁹¹⁰¹¹¹³¹²⁵$3.7B in 2025+322% since 2018

Long-term debt¹³¹⁴⁵$4.1B in 2025+866% since 2022

Every line of the balance sheet in the latest annual report, as filed.⁵

Period ending	2025-12-31	2025-10-31	2024-12-31
Cash and cash equivalents	$3.7B		$2.4B
Accounts receivable, less allowance for doubtful accounts of $0.1 and $4.0, respectively	$720.3M		$11.2M
Prepaid expenses	$34.8M		$22.2M
VAT reclaimable	$131.4M		$6.2M
Other current assets	$146.8M		$37.6M
Current assets of discontinued operations			$21.4M
Total current assets	$4.7B		$2.5B
Property and equipment	$5.6B		$846.7M
Intangible assets	$19.7M		$4.9M
Operating lease right-of-use assets	$918.8M		$44.8M
Equity method investments	$11.1M		$6.4M
Investments in non-marketable equity securities	$836.6M		$90.7M
Deferred tax assets	$11.8M		$7.7M
Other non-current assets	$367.9M		$13.4M
Non-current assets of discontinued operations			$700.0K
Total non-current assets	$7.7B		$1.0B
TOTAL ASSETS	$12.4B		$3.5B
Accounts payable, accrued and other liabilities	$1.2B		$228.0M
Debt, current	$24.5M		$6.1M
Income and non-income taxes payable	$17.7M		$5.5M
Deferred revenue, current	$275.5M		$16.3M
Current liabilities of discontinued operations			$8.1M
Total current liabilities	$1.5B		$264.0M
Operating lease liabilities	$760.5M		$30.3M
Debt, non-current	$4.1B
Deferred revenue, non-current	$1.3B
Other accrued liabilities	$143.1M		$600.0K
Total non-current liabilities	$6.3B		$30.9M
Total liabilities	$7.8B		$294.9M
Ordinary shares	$8.4M	$6.4M	$9.2M
Treasury shares at cost (Class A: 126,287,344 and 69,023,973, respectively)	-$1.1B		-$2.0B
Additional paid-in capital	$2.4B		$2.0B
Accumulated other comprehensive loss	-$100.0K		-$22.1M
Retained earnings	$3.3B		$3.2B
Total shareholders' equity	$4.6B		$3.3B
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$12.4B		$3.5B
Allowance for doubtful accounts	$4.0M		$100.0K
Ordinary shares, shares outstanding (in shares)	253.0M shares

Cash from operations⁸⁹¹⁰¹¹¹²⁵$384.8M in 2025−5% since 2018

Capital spending⁸⁹¹⁰¹¹¹²⁵$4.1B in 2025+897% since 2018

Free cash flow⁸⁹¹⁰¹¹¹²⁵-$3.7B in 2025+229975% since 2018

Share buybacks⁸⁹¹⁰¹¹$93.8M in 2021−35% since 2018

Every line of the cash flow in the latest annual report, as filed.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income / (loss) from continuing operations	$9.8M	-$352.0M	-$299.0M
Depreciation of property and equipment	$411.0M	$75.2M	$27.9M
Amortization of intangible assets	$6.9M	$1.9M	$1.4M
Operating lease right-of-use assets amortization	$50.6M	$8.7M	$7.1M
Amortization of debt discount and issuance costs, net of interest expense capitalized	$21.2M
Share-based compensation expense	$83.2M	$54.5M	$28.8M
Deferred income tax expense / (benefit)	-$3.4M	-$2.8M	-$1.3M
Foreign exchange (gains) / losses	-$27.2M	$17.8M	$2.4M
Gain from revaluation of investments in equity securities	-$598.9M
Income / (loss) from equity method investments	$24.3M	-$400.0K	$10.9M
Provision for expected credit losses	$5.5M	$200.0K	-$200.0K
Other	$55.5M	-$600.0K	$900.0K
Accounts receivable	-$714.6M	-$9.8M	$2.3M
Prepaid expenses	-$17.8M	-$14.8M	-$5.6M
Accounts payable, accrued and other liabilities and non-income taxes payable	-$29.0M	-$28.0M	$1.5M
Deferred revenue	$1.6B	$10.0M	$1.9M
Other assets	-$339.2M	-$23.7M	-$7.8M
VAT reclaimable	-$101.8M	-$6.1M	$6.8M
Net cash provided by / (used in) operating activities - continuing operations	$401.9M	-$269.9M	-$222.0M
Net cash provided by / (used in) operating activities - discontinued operations	-$17.1M	$515.5M	$1.1B
Net cash provided by / (used in) operating activities	$384.8M	$245.6M	$829.8M
Purchases of property and equipment and intangible assets	-$4.1B	-$807.5M	-$82.9M
Proceeds from Divestment, net of cash of discontinued operations sold		$1.3B
Proceeds from the sale of the remaining equity interest in Divested businesses		$184.2M
Investments in debt securities			-$10.0M
Proceeds from maturity of debt securities		$10.0M
Proceeds from sale of property and equipment		$1.6M
Investments in term deposits	-$75.0M
Investment in Toloka, net of cash of discontinued operations deconsolidated	-$42.7M
Investments in non-marketable equity securities	-$50.0M
Other investing activities	$4.5M	$500.0K
Net cash provided by / (used in) investing activities - continuing operations	-$4.2B	$672.0M	-$92.9M
Net cash used in investing activities- discontinued operations	-$100.0K	-$360.4M	-$1.1B
Net cash provided by / (used in) investing activities	-$4.2B	$311.6M	-$1.2B
Proceeds from sale of equity securities	$1.1B	$700.0M
Proceeds from issuance of convertible notes	$4.2B
Convertible notes issuance costs	-$89.3M
Treasury shares issuance costs	-$23.8M	-$32.5M
Withholding tax paid	-$181.5M
Proceeds from issuance of SAFE instruments	$100.0M
Repayments of debt	-$800.0K	-$700.0K
Proceeds from exercise of share options / (Repurchase of equity classified awards)	$8.4M	-$10.0M
Net cash provided by financing activities - continuing operations	$5.1B	$656.8M
Net cash provided by financing activities- discontinued operations		$168.7M	$375.6M
Net cash provided by financing activities	$5.1B	$825.5M	$375.6M
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents	-$9.7M	-$23.6M	-$102.6M
Net change in cash and cash equivalents, and restricted cash and cash equivalents	$1.3B	$1.4B	-$109.3M
Cash paid for income taxes	-$4.5M	-$3.7M	-$2.0M
Cash paid for interest	-$12.2M
Operating cash flows from operating leases	-$58.7M	-$11.2M	-$5.0M
Right-of-use assets obtained in exchange for operating lease obligations	$913.8M	$40.5M	$14.3M
Acquired property and equipment and intangible assets not yet paid for	$1.1B	$100.0K	$500.0K
Conversion of convertible debt to ordinary shares	$19.2M
Effect of deconsolidation of former subsidiaries	$85.9M

Compare Nebius Group with another company

The story

The predecessor to Nebius Group was Yandex N.V., the Dutch parent company of Russian technology company Yandex, which began as a search engine in 1997. Yandex N.V. was registered as the Dutch parent company in 2007. In May 2011, Yandex raised $1.3 billion in an IPO on the NASDAQ. In February 2022, the company's securities were suspended from trading on the NASDAQ due to international sanctions during the Russian invasion of Ukraine. In July 2024, Yandex N.V. sold all of its Russian assets to a consortium of Russian investors, retaining several businesses that operated outside of Russia. This restructuring led to the creation of Nebius Group, focusing on infrastructure for artificial intelligence, with approximately over 1,000 former Yandex employees. Yandex N.V. changed its name to Nebius Group N.V., with Arkady Volozh as CEO. In October 2024, Nebius resumed trading on the NASDAQ.

In February 2026, Nebius announced the acquisition of the agentic search company Tavily for around $400 million. The same month, the company announced plans to build an AI data center in Birmingham, Alabama.

On 11 March 2026, Nvidia announced that it will invest $2 billion in Nebius.

From Wikipedia’s article on Nebius Group, shared under CC BY-SA 4.0.⁷

Leadership

Who has led Nebius Group, and when. Pick a name to see everywhere that person has worked.

Chief executive officerArkady Volozh¹

Products and brands

Nebius operates servers and data centers and provides cloud infrastructure for AI developers. In December 2024, Nebius raised $700 million through private investors, including Nvidia (which acquired 0.5% of Nebius) and Accel Partners.

Nebius owns a data center in Mäntsälä, Finland, a GPU cluster at an Equinix data center in Paris, a GPU cluster at a data center in Kansas City, Missouri, under construction, and a 300MW data center in Vineland, New Jersey, under construction.

Nebius also owns Avride and TripleTen, and has stakes in Toloka and Clickhouse.

From Wikipedia’s article on Nebius Group, shared under CC BY-SA 4.0.⁷

Subsidiaries and ownership

Owners

Arkady Volozh 55%

Subsidiaries

Avride
Nebius CZ
Toloka
TripleTen
Tavily since Feb 19, 2026

Also owns

Nebius

From Wikidata.¹

Acquisitions

Feb 19, 2026Tavily became a subsidiary¹
2000Yandex became a subsidiary¹

Employees over time

Nebius Group employees by year¹1.4K in 2025−88% since 2020

20251,371¹
202325,431¹
202011,864¹

Former names

Yandex N.V.2004 to 2024¹

Timeline

2024Went public Listed on NASDAQ¹
2024Renamed Name changed to Nebius Group N.V.¹
May 24, 2011Went public Listed on NASDAQ¹
2004Founded Founded¹

Recent filings

Oct 13, 20264 PRIMARY DOCUMENT
Oct 7, 2026SCHEDULE 13G/A
Oct 6, 20264 PRIMARY DOCUMENT
Oct 5, 20264 PRIMARY DOCUMENT
Oct 5, 20264 PRIMARY DOCUMENT
Oct 5, 20264 PRIMARY DOCUMENT
Oct 5, 2026144
Oct 1, 20264 PRIMARY DOCUMENT
Oct 1, 20266-K
Sep 29, 2026144
Sep 21, 20264 PRIMARY DOCUMENT
Sep 17, 20264 PRIMARY DOCUMENT
Sep 16, 20264 PRIMARY DOCUMENT
Sep 15, 2026144
Sep 8, 20266-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataNebius Group on Wikidata
2
SEC EDGARNebius Group filings on SEC EDGAR
3
WikipediaNebius Group on Wikipedia
4
Company websiteNebius Group logo
5
SEC EDGARNebius Group 10-K for fiscal 2025
6
SEC EDGARNebius Group filings on SEC EDGAR
7
WikipediaNebius Group on Wikipedia (revision used)
8
SEC EDGARNebius Group 10-K for fiscal 2018
9
SEC EDGARNebius Group 10-K for fiscal 2019
10
SEC EDGARNebius Group 10-K for fiscal 2020
11
SEC EDGARNebius Group 10-K for fiscal 2021
12
SEC EDGARNebius Group 10-K for fiscal 2022
13
SEC EDGARNebius Group 10-K for fiscal 2022
14
SEC EDGARNebius Group 10-K for fiscal 2023