Nebius Group NV's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Nebius Group NV reported revenue of $529.8M (+350.9% year on year) and net income of $82.5M (+112.9% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues | $529.8M | $117.5M | $8.9B | $7.4B |
| Cost of revenues | $166.2M | $73.4M | $4.0B | $3.3B |
| Product development | $177.3M | $129.7M | $1.1B | $1.0B |
| Sales, general and administrative | $380.1M | $277.8M | $3.0B | $2.4B |
| Depreciation and amortization | $417.9M | $77.3M | $445.5M | $438.9M |
| Total operating costs and expenses | $1.1B | $558.2M | $8.6B | $7.2B |
| Loss from operations | ($611.7M) | ($440.7M) | $317.4M | $188.2M |
| Interest income | $31.8M | $63.6M | $62.9M | $67.1M |
| Interest expense | ($61.5M) | — | ($121.1M) | ($48.3M) |
| Gain from revaluation of investments in equity securities | $598.9M | — | — | — |
| Income / (loss) from equity method investments | ($24.3M) | $400.0K | ($17.9M) | ($13.2M) |
| Other income / (loss), net | $80.6M | ($17.3M) | $239.8M | $133.1M |
| Net income / (loss) before income taxes | $13.8M | ($394.0M) | $481.1M | $1.0B |
| Income tax expense / (benefit) | $4.0M | ($500.0K) | $238.3M | $323.2M |
| Net income / (loss) from continuing operations | $9.8M | ($393.5M) | — | — |
| Net income / (loss) from discontinued operations | $72.7M | ($247.9M) | — | — |
| Net income / (loss) | $82.5M | ($641.4M) | $242.8M | $677.0M |
| Net income / (loss) attributable to Nebius Group N.V. | $82.5M | ($641.4M) | $221.5M | $561.1M |
| Basic (in dollars per share) | $0.04 | -$1.40 | — | — |
| Diluted (in dollars per share) | $0.04 | -$1.40 | — | — |
| Basic (in dollars per share) | $0.30 | -$0.88 | — | — |
| Diluted (in dollars per share) | $0.29 | -$0.88 | — | — |
| Basic (in dollars per share) | $0.34 | -$2.28 | $53.58 | $107.24 |
| Diluted (in dollars per share) | $0.33 | -$2.28 | $53.26 | $82.53 |
| Basic (in shares) | 242.5M | 281.0M | 370.8M | 368.0M |
| Diluted (in shares) | 247.7M | 281.0M | 373.1M | 377.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $3.7B | $2.4B | $1.1B | $1.2B |
| Accounts receivable, less allowance for doubtful accounts of $0.1 and $4.0, respectively | $720.3M | $13.1M | $952.7M | $824.8M |
| Prepaid expenses | $34.8M | $22.9M | $221.0M | $241.3M |
| VAT reclaimable | $131.4M | $8.1M | $329.6M | $321.3M |
| Other current assets | $146.8M | $18.0M | $258.4M | $239.0M |
| Total current assets | $4.7B | $2.5B | $3.5B | $3.4B |
| Property and equipment | $5.6B | $847.0M | $2.2B | $1.8B |
| Intangible assets | $19.7M | $4.9M | $316.2M | $451.6M |
| Operating lease right-of-use assets | $918.8M | $45.0M | $396.1M | $407.3M |
| Equity method investments | $11.1M | $6.4M | $8.2M | $30.1M |
| Investments in non-marketable equity securities | $836.6M | $90.7M | $92.3M | $95.9M |
| Deferred tax assets | $11.8M | $7.8M | $108.4M | $55.5M |
| Other non-current assets | $367.9M | $13.5M | $331.5M | $160.4M |
| Total non-current assets | $7.7B | $1.0B | $5.3B | $5.4B |
| TOTAL ASSETS | $12.4B | $3.5B | $8.8B | $8.8B |
| Accounts payable, accrued and other liabilities | $1.2B | $235.5M | $2.2B | $1.7B |
| Debt, current | $24.5M | $6.1M | $1.0B | $302.9M |
| Income and non-income taxes payable | $17.7M | $5.9M | $438.9M | $400.0M |
| Deferred revenue, current | $275.5M | $16.5M | $254.3M | $221.6M |
| Total current liabilities | $1.5B | $264.0M | $3.9B | $2.7B |
| Operating lease liabilities | $760.5M | $30.3M | $284.9M | $250.4M |
| Debt, non-current | $4.1B | — | $551.2M | $424.9M |
| Deferred revenue, non-current | $1.3B | — | — | — |
| Other accrued liabilities | $143.1M | $600.0K | $319.2M | $235.2M |
| Total non-current liabilities | $6.3B | $30.9M | $1.6B | $1.3B |
| Total liabilities | $7.8B | $294.9M | $5.5B | $4.0B |
| Ordinary shares | 8.4M | 9.2M | 3.1M | 4.0M |
| Treasury shares at cost (Class A: 126,287,344 and 69,023,973, respectively) | -1.1B | -2.0B | -15.5M | -19.8M |
| Additional paid-in capital | $2.4B | $2.0B | $972.6M | $1.7B |
| Accumulated other comprehensive loss | ($100.0K) | ($22.1M) | $184.9M | $344.9M |
| Retained earnings | $3.3B | $3.2B | $2.2B | $2.5B |
| Total shareholders' equity | $4.6B | $3.3B | $3.3B | $4.5B |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $12.4B | $3.5B | $8.8B | $8.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income / (loss) from continuing operations | $9.8M | ($393.5M) | — | — |
| Depreciation of property and equipment | $411.0M | $75.4M | $328.2M | $330.4M |
| Amortization of intangible assets | $6.9M | $1.9M | $117.3M | $108.5M |
| Operating lease right-of-use assets amortization | $50.6M | — | — | — |
| Amortization of debt discount and issuance costs, net of interest expense capitalized | $21.2M | — | — | — |
| Share-based compensation expense | $83.2M | $56.6M | $97.1M | $99.5M |
| Deferred income tax expense / (benefit) | ($3.4M) | ($2.9M) | $6.7M | $65.0M |
| Foreign exchange (gains) / losses | ($27.2M) | $17.5M | ($254.8M) | ($133.5M) |
| Gain from revaluation of investments in equity securities | ($598.9M) | — | — | — |
| Income / (loss) from equity method investments | $24.3M | ($400.0K) | $17.9M | $13.2M |
| Provision for expected credit losses | $5.5M | $300.0K | $57.7M | $39.8M |
| Other | $55.5M | ($400.0K) | $56.6M | ($1.3M) |
| Accounts receivable | ($714.6M) | ($9.1M) | ($320.6M) | ($226.1M) |
| Prepaid expenses | ($17.8M) | ($12.9M) | ($12.0M) | ($63.6M) |
| Accounts payable, accrued and other liabilities and non-income taxes payable | ($29.0M) | ($31.3M) | $538.4M | $706.5M |
| Deferred revenue | $1.6B | $9.6M | $72.1M | $74.7M |
| Other assets | ($339.2M) | ($3.7M) | ($32.2M) | ($129.2M) |
| VAT reclaimable | ($101.8M) | ($2.2M) | ($71.4M) | ($131.2M) |
| Net cash provided by / (used in) operating activities - continuing operations | $401.9M | ($307.7M) | — | — |
| Net cash provided by / (used in) operating activities - discontinued operations | ($17.1M) | $553.3M | — | — |
| Net cash provided by / (used in) operating activities | $384.8M | $245.6M | $783.4M | $592.8M |
| Purchases of property and equipment and intangible assets | ($4.1B) | ($807.7M) | ($1.0B) | ($718.6M) |
| Investments in term deposits | ($75.0M) | — | ($100.0K) | ($48.3M) |
| Investment in Toloka, net of cash of discontinued operations deconsolidated | ($42.7M) | — | — | — |
| Investments in non-marketable equity securities | ($50.0M) | — | — | ($9.2M) |
| Other investing activities | $4.5M | $500.0K | $9.7M | $2.0M |
| Net cash provided by / (used in) investing activities - continuing operations | ($4.2B) | $671.8M | — | — |
| Net cash used in investing activities- discontinued operations | ($100.0K) | ($360.2M) | — | — |
| Net cash provided by / (used in) investing activities | ($4.2B) | $311.6M | ($1.2B) | ($323.3M) |
| 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) | ($1.5B) | ($704.6M) |
| Proceeds from exercise of share options / (Repurchase of equity classified awards) | $8.4M | — | — | — |
| Net cash provided by financing activities - continuing operations | $5.1B | $656.8M | — | — |
| Net cash provided by financing activities | $5.1B | $825.5M | $466.6M | ($78.4M) |
| Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents | ($9.7M) | ($23.6M) | $92.1M | ($119.4M) |
| Net change in cash and cash equivalents, and restricted cash and cash equivalents | $1.3B | $1.4B | $149.7M | $71.7M |
| Cash and cash equivalents, beginning of period | $2.4B | $1.1B | — | — |
| Restricted cash and cash equivalents, beginning of period | $700.0K | $15.1M | — | — |
| Cash and cash equivalents, and restricted cash and cash equivalents, beginning of period | $2.5B | $1.1B | $941.5M | $1.1B |
| Cash and cash equivalents, end of period | $3.7B | $2.4B | $1.1B | $1.2B |
Nebius Group NV score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.