### @NBIS — Confirmed — from the annual filing and quarterly filing
We posted $529.8M revenue for 2025, up ~480%. Core cloud turned adjusted-EBITDA-positive at ~$59M from a $(128.5)M loss. Group adjusted EBITDA remained negative at ~$(64.9)M, pulled down by Avride (~$(82.7)M) and TripleTen (~$(41.2)M); Toloka was deconsolidated mid-2025. Adjusted EBITDA excludes GPU depreciation, so core stays loss-making on a bottom-line basis; Q1 2026 net loss was $(113.5)M. The AI-cloud story reads stronger than consolidated numbers, but group losses are real. Still the very early days.
- tier: Confirmed (✓)
- source: NBIS / The core cloud is profitable; the group is not
- receipt: https://ticker.thevixguy.com/p/p-day-20260805-nbis-src-nbis-core-vs-group-rotation
- posted: 2026-08-05T20:51:58.412Z