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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Nebius Group N.V. (NBIS) is 8/10.
Nebius opened 2026 with group revenue of $399 million, up 621.52% year over year per GAAP financials (management cited 684%) and 75% sequentially, as the core Nebius AI business grew 841% to $390 million and again sold out capacity. Profitability inflected sharply: group adjusted EBITDA reached $130 million (a 32% margin) versus a $54 million loss a year ago, and Nebius AI adjusted EBITDA margin expanded to 45%, though the group remained in a GAAP operating loss and reported net income of $621 million was driven by a non-cash ClickHouse valuation gain. Management fortified the balance sheet with $4.3 billion of convertible notes and a $2 billion NVIDIA equity investment, lifting cash to $9.3 billion, and expanded the Meta agreement to $27 billion. Full-year 2026 guidance for $7-9 billion ARR, $3.0-3.4 billion revenue and roughly 40% EBITDA margin was reiterated, while 2026 CapEx was raised to $20-25 billion, keeping financing and near-term margin variability the main watch items.
Scored from Nebius Group N.V.’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $38M | +465.7% | $-0.58 | -190.0% | -393.9% | -351.5% | $-492M |
| FY2025 Q1 | $55M | +389.5% | $-0.48 | -233.3% | -234.2% | -205.4% | $0 |
| FY2025 Q2 | $105M | +769.7% | $2.45 | +1389.5% | -105.8% | 556.0% | $0 |
| FY2025 Q3 | $146M | +237.4% | $-0.47 | -80.8% | -89.1% | -81.9% | $-1.04B |
| FY2025 Q4 | $228M | +500.8% | $-0.99 | -70.7% | -103.0% | -109.6% | $-1.22B |
| FY2026 Q1 | $399M | +621.5% | $2.01 | +518.8% | -32.1% | 155.7% | $-215M |
| FY2026 Q2 | $582M | +454.0% | $-0.68 | -127.8% | -30.2% | -32.7% | $-3.41B |
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