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Nebius Group N.V. NBIS reported first-quarter 2025 adjusted net loss of $92.5 million, 19% wider than a loss of $77.6 million incurred a year ago.
The company’s revenues surged 385% year over year to $55.3 million. The increase in sales was primarily driven by strong growth in its core artificial intelligence (AI) business.
With R&D hubs across Europe, North America and Israel, Nebius’ core business is an AI cloud platform designed for intensive workloads, powered by in-house developed software and hardware. The Group also operates businesses under distinct brands, including Avride (autonomous driving technology) and TripleTen (a leading U.S.-based edtech platform for tech career reskilling).
Nebius holds equity stakes in companies like ClickHouse and Toloka, which will be deconsolidated following a second-quarter 2025 investment round. Going forward, Toloka’s results will be treated as an equity method investment and reclassified as discontinued operations for prior periods. (See the Zacks Earnings Calendar to stay ahead of market-making news.)
Nebius Group N.V. Price, Consensus and EPS Surprise
Nebius Group N.V. price-consensus-eps-surprise-chart | Nebius Group N.V. Quote
On May 7, 2025, Nebius Group N.V. announced a strategic investment in its AI data solutions business, Toloka. The round was led by Bezos Expeditions, with participation from Shopify CTO Mikhail Parakhin. This investment marks a key milestone in Toloka’s growth, enabling it to scale rapidly and enhance its focus as global demand for high-quality AI data continues to rise.
Other Details
NBIS reported an adjusted EBITDA loss of $62.6 million for the first quarter, narrower than the $70.9 million loss in the prior-year quarter.
Sales, general and administrative expenses increased 29% year over year to $66.1 million.
As of March 31, 2025, NBIS’ loss from operation was $129.5 million compared with a loss of $82.9 million in the year-ago period.
Balance Sheet and Cash Flow
As of March 31, 2025, NBIS had $1,447 million of cash and cash equivalents compared with $2449.6 million as of Dec. 31, 2024.
Outlook
Nebius Group is carrying strong momentum into second-quarter 2025 and remains confident in achieving its full-year ARR guidance of $750 million to $1 billion. For 2025, the company also reaffirmed its overall revenue guidance of $500 million to $700 million. While adjusted EBITDA is expected to remain negative for the full year, Nebius plans to turn positive in the second half of 2025.
The company has raised its 2025 capital expenditure forecast to approximately $2 billion from the previous estimate of $1.5 billion, primarily due to some planned fourth-quarter spending shifting into early first quarter.