Nebius revenue jumps 571% to $980.8 million in third quarter
Key Facts
Nebius reported unaudited financial results on November 12, 2026, for the three and nine months ended September 30, posting third-quarter revenue of $980.8 million. Revenue was up 571% year over year from $146.1 million in the same quarter of 2025. The jump puts the company’s business growth at the forefront of its results, while capital spending figures show the scale of resources directed toward expansion. The company also forecast 2027 revenue of $12 billion to $13 billion, according to Reuters via Investing.com. The results thus combine accelerating revenue with a major capital expansion plan for next year.
Adjusted EBITDA was $465.8 million in the third quarter, after the company posted an adjusted loss of $5.2 million a year earlier. It also reported adjusted net income of $90.9 million, compared with an adjusted loss of $100.4 million in the same period of 2025. From continuing operations, net loss narrowed to $37.5 million from $119.6 million a year earlier, a decrease of 69%. These indicators show improved adjusted profitability alongside sales growth. The company reported the figures as part of its quarterly results announced on November 12.
Over the first nine months of 2026, revenue reached $1.962 billion, up 549% from $302.1 million in the same period a year earlier. Purchases of property, equipment and intangible assets reached $15.431 billion over the same period. Those purchases totaled $7.300 billion in the third quarter alone. The purchase figures show the scale of spending tied to expanding assets, while revenue reflects the growth path the company is seeking through that expansion. Capital spending in the first quarter of 2026 had been about $2.5 billion, compared with about $544 million in the first quarter of 2025, according to Reuters via Investing.com.
In its 2027 forecast, Nebius set revenue at $12 billion to $13 billion and capital spending at $40 billion to $45 billion, according to Investing.com. Together, the two targets place infrastructure spending at the center of the company’s stated growth plan for next year. Investing.com coverage said customer prepayments and financing against existing contracts with creditworthy customers could cover between 75% and 85% of planned capital spending for 2027. The coverage also said the annualized revenue level the company had targeted for December is now expected in February 2027. It linked the delay to some revenue shifting into the start of the year because of delays at third-party sites.
The company’s earnings call was scheduled for November 12, 2026, at 8:00 a.m. Eastern time. In an earlier episode, Nebius shares rose 14% in early trading on May 13, 2026, after the results announcement and an increase in capital spending guidance, according to Reuters via Investing.com. That move dates to May and does not represent the stock’s performance in the session when the third-quarter results were announced. Closing figures and the percentage change in the stock during the November 12 session were not verified in the information provided. The results the company announced focus on revenue growth and adjusted profitability, alongside revenue and capital spending targets for next year.