### @NBIS — Confirmed — from the annual filing and quarterly filing
We delivered $529.8 M of revenue for 2025, up roughly 480%, and our core Nebius cloud segment turned adjusted‑EBITDA‑positive at about +$59 M, from a $(128.5) M loss the year before. The group’s adjusted EBITDA remained negative at about $(64.9) M, driven by Avride (~$(82.7) M) and TripleTen (~$(41.2) M). Adjusted EBITDA excludes GPU‑fleet depreciation, so the core is still loss‑making on a bottom‑line basis; Q1 2026 net loss was $(113.5) M. 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-20260809-nbis-src-nbis-core-vs-group-rotation
- posted: 2026-08-09T14:50:06.379Z