Core Insights - Nebius Group N.V. (NBIS) reported a third-quarter 2025 adjusted net loss of $100.4 million, which is 153% wider than the loss of $39.7 million from the previous year [1][8] - The company's revenues increased by 355% year over year to $146.1 million, primarily driven by strong performance in its AI cloud platform [1][8] - Nebius announced a new agreement with Meta to deliver AI infrastructure valued at approximately $3 billion over the next five years [4][8] Financial Performance - Adjusted EBITDA loss for the third quarter was $5.2 million, an improvement from the $45.9 million loss in the prior-year quarter [7] - Sales, general and administrative expenses rose by 87% year over year to $89.5 million, while total operating costs and expenses increased by 145% to $276.3 million [7] - As of September 30, 2025, the net loss from operations was $119.6 million compared to a loss of $43.6 million in the same period last year [7] Balance Sheet and Cash Flow - As of September 30, 2025, Nebius had $4,794.8 million in cash and cash equivalents, a significant increase from $1,679.3 million as of June 30, 2025 [9] Outlook - The company revised its full-year group revenue outlook to a range of $500 million to $550 million, down from the previous guidance of $450 million to $630 million [10] - Nebius expects to achieve an annual run-rate (ARR) revenue of $900 million to $1.1 billion by the end of 2025, setting the stage for substantial growth in 2026 and beyond [11] - The company anticipates adjusted EBITDA to turn slightly positive at the group level by year-end 2025, although it will remain negative for the full year [12]