Filing Flows › Nebius Group N.V. (NBIS) › Q1 2026 › vs Q4 2025
Nebius Group N.V. (NBIS) Q1 2026 vs Q4 2025 (quarter over quarter)
Nebius Group N.V.'s revenue rose $171M (+75%) from $228M in Q4 2025 to $399M in Q1 2026.
Nebius Group N.V., Q1 2026: revenue $399M (+622% year over year), operating margin -32.1%, net earnings $621M, operating cash flow $2.3B. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $399M | $228M | $171M | +75% |
| Other income, net | $743M | −$12.5M | $756M | — |
| Income tax benefit | $5.8M | −$2.6M | $8.4M | — |
| Costs & expenses | $1.1B | $477M | $671M | +141% |
| Operating costs | $527M | $462M | $64.8M | +14% |
| Net earnings | $621M | −$250M | $871M | — |
| Cost of revenue | $104M | $68.5M | $35.3M | +52% |
| Research & development | $67.4M | $53.1M | $14.3M | +27% |
| SG&A | $144M | $160M | −$16.1M | -10% |
| Depreciation & amortization | $212M | $181M | $31.3M | +17% |
| Operating cash sources | $2.3B | $834M | $1.4B | +171% |
| Depreciation & amortization | $212M | $181M | $31.3M | +17% |
| Share-based compensation | $35.3M | $24.9M | $10.4M | +42% |
| Working capital & other | $1.4B | $878M | $511M | +58% |
| Operating cash flow | $2.3B | $834M | $1.4B | +171% |
| Capital expenditures | $2.5B | $2.1B | $417M | +20% |
| Negative free cash flow (OCF − capex) | $215M | $1.2B | −$1.0B | -82% |
Questions
How much did Nebius Group N.V.'s revenue grow quarter over quarter in Q1 2026?
Nebius Group N.V.'s revenue rose $171M (+75%) from $228M in Q4 2025 to $399M in Q1 2026.