Nebius Group N.V. (NASDAQ:NBIS) reported third-quarter 2026 revenue of $980.8 million, representing a 571% increase from $146.1 million in the corresponding period of 2025, according to the company’s financial results.
The Amsterdam-based AI cloud infrastructure provider recorded adjusted EBITDA of $465.8 million, compared with an adjusted EBITDA loss of $5.2 million a year earlier.
Net loss from continuing operations narrowed to $37.5 million from $119.6 million in the prior-year quarter.
Nine-Month Revenue Reaches $1.96 Billion
For the nine months ended September 30, 2026, Nebius reported revenue of $1.96 billion, an increase of 549% from $302.1 million in the comparable period of 2025.
Adjusted EBITDA for the nine-month period reached $831.5 million, compared with a loss of $79.9 million a year earlier.
The figures reflect increased revenue and a shift to positive adjusted EBITDA across both the quarterly and nine-month reporting periods.
Operating Expenses and Capital Expenditures Increase
Total operating costs and expenses rose 237% year over year to $930.4 million in the third quarter.
The increase included depreciation and amortization expenses of $354.7 million and selling, general and administrative expenses of $237.4 million.
Capital expenditures on property, equipment and intangible assets totaled $7.30 billion during the quarter, compared with $955.5 million in the same period of 2025.
Net cash used in operating activities from continuing operations amounted to $273 million in the third quarter. However, operating cash flow from continuing operations for the first nine months of 2026 was positive at $4.23 billion.
Total Assets Rise to $38.74 Billion
Nebius reported total assets of $38.74 billion as of September 30, 2026, compared with $12.43 billion at the end of December 2025.
At the end of the third quarter, the company had 292,902,405 issued and outstanding shares, consisting of 259,597,352 Class A shares and 33,305,053 Class B shares. These figures exclude 29,138,539 treasury shares.
In addition to its AI cloud infrastructure operations, Nebius Group includes autonomous vehicle technology platform Avride and education technology service TripleTen. The company also holds equity interests in businesses including ClickHouse and Toloka.