Nebius Group N.v. · NASDAQ:NBIS
Nebius — Q1 2026 Earnings Presentation
11 slides from Nebius's earnings presentation, May 13, 2026
Slide 1: Nebius reports first quarter 2026 financial results
Nebius Group N.V., Burgerweeshuispad 101, 1076 ES Amsterdam Nebius reports first quarter 2026 financial results Amsterdam, May 13, 2026 — Nebius Group N.V. (NASDAQ: NBIS), the AI cloud company, today announced its unaudited financial results for the first quarter ended March 31, 2026. Nebius today a
Slide 2: Operating expenses
Operating expenses In USD $ millions Three months ended March 31 2025 2026 Change Cost of revenues 24.7 103.8 320% as a percentage of revenues 49% 26% Product development 36.5 67.4 85% as a percentage of revenues 72% 17% Sales, general and administrative 60.9 143.8 136% as a percentage of revenues 1
Slide 3: Earnings webcast
Earnings webcast Nebius Group will host a conference call and earnings webcast at 8:00 a.m. Eastern Time (5:00 a.m. Pacific Time / 2:00 p.m. Central European Time) on May 13, 2026. To register to participate in the conference call, or to listen to the live audio webcast, please visit Nebius’s Invest
Slide 4: Use of non-GAAP financial measures
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this document, and while we believe such information forms a reasonable basis for such statements,
Slide 5: Foreign exchange gains / (losses)
we believe that it is useful for investors and analysts to see certain financial measures excluding the impact of these charges in order to obtain a clearer picture of our operating performance. Foreign exchange gains / (losses) The functional currency of Nebius Group N.V. is the United States Dolla
Slide 6: Unaudited condensed consolidated balance sheets
Unaudited condensed consolidated balance sheets In USD $ millions As of Assets December 31, 20251 March 31, 2026 Cash and cash equivalents 3,678.1 9,298.2 Accounts receivable 720.3 1,479.2 Prepaid expenses 34.8 53.5 VAT reclaimable 131.4 46.9 Other current assets 146.8 360.5 Total current assets 4,7
Slide 7: Unaudited condensed consolidated statements of operations
Unaudited condensed consolidated statements of operations In USD $ millions Three months ended March 31, 20251 2026 Revenues 50.9 399.0 Operating costs and expenses: Cost of revenues2 24.7 103.8 Product development2 36.5 67.4 Sales, general and administrative2 60.9 143.8 Depreciation and amortizatio
Slide 8: Unaudited condensed consolidated statements of cash flows
Unaudited condensed consolidated statements of cash flows In USD $ millions Three months ended March 31, 20251 2026 Cash flows provided by (used in) operating activities Net income / (loss) from continuing operations (104.3) 621.2 Adjustments to reconcile net income / (loss) to net cash provided by
Slide 9: Unaudited condensed consolidated statements of cash flows (continued)
Unaudited condensed consolidated statements of cash flows (continued) In USD $ millions Three months ended March 31, 20251 2026 Cash flows used in investing activities: Purchases of property and equipment and intangible assets (543.9) (2,472.9) Acquisitions of businesses, net of cash acquired — (170
Slide 10: Unaudited condensed consolidated statements of cash flows (continued)
Unaudited condensed consolidated statements of cash flows (continued) In USD $ millions Three months ended March 31, 20251 2026 Reconciliation of cash and cash equivalents, and Restricted cash and cash equivalents: Cash and cash equivalents, beginning of period 2,449.6 3,678.1 Restricted cash and ca
Slide 11: Reconciliations of non-GAAP financial measures to the nearest comparable U.S. GAAP measures
Reconciliations of non-GAAP financial measures to the nearest comparable U.S. GAAP measures Reconciliation of Adjusted EBITDA / (loss) to U.S. GAAP Net Income / (loss) In USD $ millions Three months ended March 31, 2025 2026 Change Net income / (loss) (113.5) 621.2 n/m Add: net loss from discontinue