Nebius soars on second quarter revenue beat

Investing.com -- Nebius Group N.V. (NASDAQ: NBIS) reported second-quarter results that exceeded revenue expectations, sending shares up 12% premarket as the AI cloud company demonstrated strong growth momentum.

The company posted revenue of $582.3 million for the second quarter, surpassing the analyst consensus of $569.9 million. This represented a 454% increase from $105.1 million in the same quarter last year. However, Nebius reported an adjusted loss per share of -$0.68, compared to adjusted earnings of $2.05 in the prior-year period.

The company's adjusted EBITDA swung to a profit of $236.2 million from a loss of $21.0 million in the year-ago quarter. For the first six months of 2026, revenue reached $981.3 million, up 529% YoY, while adjusted EBITDA totaled $365.7 million compared to a loss of $74.7 million in the prior year period.

Operating cash flow from continuing operations surged to $2.25 billion in the second quarter, up from negative $167.7 million a year earlier. The company invested heavily in infrastructure, with capital expenditures of $5.66 billion during the quarter, compared to $510.6 million in the prior year period.

Cost of revenues as a percentage of sales improved to 23% from 29% in the year-ago quarter, while total operating costs and expenses as a percentage of revenue decreased to 130% from 206%.

The company's cash and cash equivalents stood at $8.04 billion as of June 30, 2026, up from $3.68 billion at the end of 2025. Nebius also reported deferred revenue of $5.98 billion, including $4.996 billion in non-current deferred revenue, reflecting strong customer commitments.

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