Q2 25 EPS
$N/A
Est. $-0.42
Q2 25 Revenue
$105.1M
BEAT +3.86%
Est. $101.2M
vs S&P Since Q2 25
+116.6%
BEATING MARKET
NBIS +129.7% vs S&P +13.1%
Market Reaction
Did NBIS Beat Earnings? Q2 2025 Results
Nebius Group posted a breakout second quarter, with revenue climbing 769.7% year-over-year to $105.10 million, beating the $101.20 million consensus estimate by 3.86% and signaling that its AI infrastructure cloud platform has hit a genuine inflectio… Read more Nebius Group posted a breakout second quarter, with revenue climbing 769.7% year-over-year to $105.10 million, beating the $101.20 million consensus estimate by 3.86% and signaling that its AI infrastructure cloud platform has hit a genuine inflection point. The primary engine behind the surge was explosive customer demand for GPU compute capacity, with enterprise names including Cloudflare, Shopify, and Prosus joining a platform that reached near-peak utilization by quarter's end despite significant hardware additions. The core AI infrastructure business achieved positive Adjusted EBITDA ahead of schedule, a meaningful milestone, though ongoing investment in autonomous driving unit Avride and edtech platform TripleTen held the consolidated Adjusted EBITDA loss at $21.00 million. On the strength of that momentum, Nebius raised its year-end 2025 annualized run-rate revenue guidance to $900 million to $1.1 billion, up from $750 million to $1.0 billion previously, while targeting more than 1 GW of connected power by end of 2026 as it races to scale capacity across seven AI clusters in six countries.
Key Takeaways
- • 625% year-over-year and 106% quarter-over-quarter revenue growth driven by strong AI infrastructure demand
- • Core AI infrastructure business ARR grew from $249 million at end of March to $430 million at end of June
- • Near-peak utilization of GPU capacity despite significant additions
- • Expansion of sales force and customer support teams
- • Increasing AI use cases driving demand growth in adoption and client base expansion
- • Cost of revenues as percentage of revenue declined from 53% to 29% as core business scaled
NBIS YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
NBIS Revenue by Segment
Business unit performance breakdown
“Nebius is continuing to deliver exceptional results. In Q2 we more than doubled revenue from the previous quarter, and our core business achieved positive Adjusted EBITDA ahead of plan. Because of this strong momentum, we are increasing our annualized run-rate revenue (ARR) outlook for the year to $900 million to $1.1 billion.”
— Arkady Volozh, Q2 2025 Earnings Press Release
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 | — |