Filing Flows › Nebius Group N.V. (NBIS) › Q4 2025
Nebius Group N.V. (NBIS) Q4 2025 earnings results (fourth quarter 2025)
6-K filed Feb 12, 2026
Nebius Group N.V. (NBIS) reported revenue of $228M for the fourth quarter 2025 (Q4 2025), +547% from a year earlier. Operating margin was -103.0%, net loss $250M (109.6% of revenue).
Nebius Group N.V., Q4 2025: revenue $228M (+547% year over year), operating margin -103.0%, net loss $250M, operating cash flow $834M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $228M | — | +547% |
| Operating profit | −$234M | — | — |
| Net earnings | −$250M | — | — |
| Operating cash flow | $834M | — | — |
What changed
Revenue was $227.7M in Q4 2025, up 547% year over year.
Operating costs exceeded revenue by $234.5M, an operating margin of -103.0%. Total costs grew 169% against revenue growth of 547%. The fastest-growing cost line was Depreciation & amortization (+443%). The quarter ended with a net loss of $249.6M.
Operating cash flow was $834.3M. Non-cash charges added back $180.7M of depreciation and amortization and $24.9M of share-based compensation. Working capital and other items added $878.3M. Capital expenditures of $2,056.0M exceeded it, leaving free cash flow of −$1,221.7M.
Questions
What was Nebius Group N.V.'s revenue in the fourth quarter 2025?
Nebius Group N.V.
Was Nebius Group N.V. profitable in the fourth quarter 2025?
Operating loss was $234M (-103.0% of revenue) and net loss $250M.
Source: Nebius Group N.V. 6-K on SEC EDGAR.