Nebius Group N.V. (NBIS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you and welcome to Nebius Group's third quarter 2025 earnings conference call. I'm Neil Doshi, Vice President of Investor Relations. Joining me today are Arkady Valoj, Founder and CEO of and our broader management team. Our remarks today will include forward-looking statements, which are based on assumptions as of today. Actual results may differ materially as a result of various factors, including those set forth in today's earnings press release and in our report on Form 20F filed with the SEC. We undertake no obligation to update any forward-looking statements. During this call, we will present both GAAP and certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in today's earnings press release. The earnings press release, shareholder letter, and accompanying investor presentation are available on our website at netvs.com And now I'd like to turn the call over to Arkady. Thanks, Neil. And thank you everyone for joining the call today. I'd like to share my thoughts about the demand environment, about our capacity plans and what we're doing in our product. First about the demand. Q3 demand was very strong. We sold out all of our available capacity. we continue to see a consistent trend. Every time we bring capacity online, we sell all of it. With the new generation of NVIDIA Blackwells coming online, more customers are interested in purchasing capacity in advance and securing it for a longer period of time. Today, we're very pleased to announce that we signed another major deal, this time with Meta, for approximately $3 billion over the next five years. In fact, demand for this capacity was overwhelming and the size of the contract was limited to the amount of capacity that we had available, which means that if we had m...