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How Nebius Group N.V. (NBIS) makes money

Nebius Group N.V. (NBIS) made $530M of revenue in the fiscal 2025 (FY2025), +479% from a year earlier.

Drawing the Sankey…

Nebius Group N.V. revenue by quarterNebius Group N.V. revenue by quarter$118MFY2024$530MFY2025
Nebius Group N.V.: where each dollar of revenue goesNebius Group N.V.: where each dollar of revenue goesIncome tax1¢Operating cash flow73¢

Where each dollar of revenue goes

LineFY2025% of revenue
Revenue$530M100.0%
Income tax$4.0M0.8%
Operating cash flow$385M72.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
FY2025$530M+479%
FY2024$118M-99%

From Nebius Group N.V.'s 20-F filed Apr 30, 2026 (on EDGAR).

Questions

How does Nebius Group N.V. make money?

Nebius Group N.V. (NBIS) made $530M of revenue in the fiscal 2025 (FY2025), +479% from a year earlier.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.