Nebius Group N.V.(US:NBIS)2025-11-12 13:01Financial Performance - Q3 2025 revenues increased to $146.1 million, a 355% increase compared to $32.1 million in Q3 2024[6] - Net income from continuing operations showed a loss of $(119.6) million, a 174% increase in losses compared to $(43.6) million in Q3 2024[6] - The company reported a net loss of $119.6 million for the three months ended September 30, 2025, compared to a net loss of $94.2 million in the same period of 2024, indicating a deterioration in performance[34] - The company incurred a loss from operations of $130.2 million for the three months ended September 30, 2025, compared to a loss of $80.6 million in the same period of 2024[34] - The company reported a net loss of $(119.6) million for the three months ended September 30, 2025, which is a 27% increase in loss compared to $(94.2) million in the same period of 2024[41] - The adjusted net loss for the nine months ended September 30, 2025, was $(273.7) million, a 61% increase compared to $(169.5) million in 2024[43] Operating Expenses - Operating expenses totaled $276.3 million, a 145% increase from $112.7 million in Q3 2024[7] - Operating costs and expenses for the three months ended September 30, 2025, totaled $276.3 million, up from $112.7 million in the same period of 2024, reflecting an increase of 145%[34] - The company experienced a significant increase in depreciation and amortization expenses, which rose by 321% to $99.0 million for the three months ended September 30, 2025, compared to $23.5 million in 2024[41] - The one-off restructuring and other expenses decreased significantly to $(0.1) million in the three months ended September 30, 2025, from $6.8 million in the same period of 2024, a reduction of 101%[41] Cash Flow and Liquidity - Cash used in operating activities increased by 131% to $(80.6) million from $(34.9) million year-over-year[9] - Cash and cash equivalents as of September 30, 2025, were $4,794.8 million, a substantial increase from $2,434.7 million as of December 31, 2024[32] - Cash and cash equivalents at the end of the period increased significantly to $4,794.8 million in 2025 from $2,288.2 million in 2024, representing a growth of 109%[39] - The total cash and cash equivalents, including restricted cash, at the end of the period reached $4,923.6 million in 2025, up from $2,289.1 million in 2024, indicating a growth of 115%[39] - The company’s cash flows used in operating activities for the nine months ended September 30, 2025, were $(449.5) million, compared to $320.2 million provided in the same period of 2024[36] Revenue and Growth - Total revenues for the three months ended September 30, 2025, were $146.1 million, a significant increase from $32.1 million in the same period of 2024, representing a growth of 356%[34] - Cost of revenues as a percentage of revenues decreased to 29% in Q3 2025 from 31% in Q3 2024[7] - Product development expenses as a percentage of revenues significantly decreased to 31% in Q3 2025 from 98% in Q3 2024[7] Investments and Agreements - Nebius announced a new agreement with Meta valued at approximately $3 billion over 5 years for AI infrastructure[3] - The company plans to implement an at-the-market equity program for up to 25 million Class A shares to support future growth[4] Assets and Liabilities - Total assets increased to $10,102.2 million as of September 30, 2025, from $3,548.6 million as of December 31, 2024, marking a growth of 185%[32] - Total liabilities rose to $5,291.4 million as of September 30, 2025, compared to $294.9 million as of December 31, 2024, indicating a significant increase in leverage[32] Other Income and Expenses - Interest income decreased by 78% to $(6.2) million in the three months ended September 30, 2025, compared to $(28.6) million in 2024[41] - The company reported a significant decrease in other income, net, which fell to $(26.3) million in the three months ended September 30, 2025, from $(7.0) million in 2024, reflecting a change of 276%[41] - Adjusted EBITDA loss improved by 89% to $(5.2) million from $(45.9) million year-over-year[6] - Adjusted EBITDA loss narrowed to $(5.2) million for the three months ended September 30, 2025, compared to a loss of $(45.9) million in the same period of 2024, reflecting an improvement of 89%[41] - The company reported a gain from the revaluation of investments in equity securities amounting to $597.4 million for the nine months ended September 30, 2025[34] Shareholder Information - Total outstanding shares as of September 30, 2025, were 251,807,222, including 218,158,548 Class A shares[10]