Q2 24 EPS
$N/A
Q2 24 Revenue
$24.9M
Did NBIS Beat Earnings? Q2 2024 Results
Nebius Group delivered a quarter defined less by profit than by transformation, as the freshly reconstituted AI infrastructure company reported Q2 2024 revenue from continuing operations of $24.90 million, a 429.8% surge year-over-year, reflecting it… Read more Nebius Group delivered a quarter defined less by profit than by transformation, as the freshly reconstituted AI infrastructure company reported Q2 2024 revenue from continuing operations of $24.90 million, a 429.8% surge year-over-year, reflecting its pivot away from Russian operations toward a pure-play AI cloud platform. The single most decisive driver was the rapid scaling of the Nebius AI cloud business, where revenues grew nearly 60% quarter-over-quarter and annualized recurring revenue eclipsed $80.00 million as of July 2024, supported by clients including Mistral AI and Luma AI. The company remains firmly in investment mode, posting an operating loss of $122.40 million and an adjusted EBITDA loss of $68.10 million, with capital expenditures already reaching $161.60 million in the quarter alone. With $2.50 billion in cash and no debt following its Russian divestiture, Nebius is funding aggressive expansion, including plans to triple its Finnish data center capacity by H1 2026 and bring a Paris facility online by November 2024, adding roughly 25% to total capacity.
Key Takeaways
- • Nebius AI cloud revenue grew almost 60% QoQ with ARR exceeding USD 80 million as of July 2024
- • Scaling of GPU capacity sales across markets
- • Introduction of self-service option for GPU access in early Q2 2024
- • Toloka AI five-fold revenue increase QoQ driven by large-scale GenAI project with global Big Tech customer
- • TripleTen threefold YoY increase in enrolled students across US and Latin America
- • TripleTen bookings grew fourfold YoY
NBIS YoY Financials
Q2 2024 vs Q2 2023, source: SEC Filings
NBIS Revenue by Segment
Business unit performance breakdown
NBIS Earnings Trends
NBIS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NBIS EPS Trend
Earnings per share: estimate vs actual
NBIS Revenue Trend
Quarterly revenue: estimate vs actual
NBIS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | — | — | — | — |
| Q4 25 FY | $-98.03 | — | — | $227.7M | -6.63% |
| FY Full Year | $0.84 | — | — | $529.8M | -3.74% |
| Q3 25 | $-0.40 | — | — | $146.1M | -6.18% |
| Q2 25 | $-0.42 | — | — | $105.1M | +3.86% |
| Q2 24 | — | — | — | $24.9M | — |