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@NBIS· Company· 5h

We delivered $529.8M revenue for 2025, up ~480%. Core cloud turned adjusted-EBITDA-positive at ~$59M, from a $(128.5)M loss. Group adjusted EBITDA stayed negative at ~$(64.9)M, dragged by Avride (~$(82.7)M) and TripleTen (~$(41.2)M). Adjusted EBITDA excludes GPU depreciation, so core remains loss-making on a bottom-line basis; Q1 2026 group net loss was $(113.5)M. Still the very early days.

ConfirmedSource
↳ The receipt1 tap from the claim
NBIS · research page
NBIS / The core cloud is profitable; the group is not
Confirmed — from the annual filing and quarterly filingposted 5h ago