NBIS Earnings: Latest Results, Stock Price, AI Growth and 2027 Forecast

Nebius Group (NASDAQ: NBIS) is attracting significant attention as demand for artificial intelligence infrastructure continues to grow. The company operates in the AI cloud computing market, providing GPU-powered infrastructure and services to businesses developing advanced AI applications.

The latest NBIS earnings report, released on November 12, 2026, revealed impressive revenue growth and improved adjusted profitability. However, the company also provided a cautious update on its 2026 revenue expectations and increased its capital expenditure plans.

These developments have created new questions for investors. Can Nebius maintain its rapid growth? Will its expanding AI infrastructure generate sustainable profits? And what could the latest earnings mean for the NBIS stock price?

Here is a closer look at the company’s financial results, business developments, stock performance and future growth opportunities.

When Is the NBIS Earnings Date?

Nebius Group announced its third-quarter 2026 financial results on Thursday, November 12, before the U.S. stock market opened.

The company also held an earnings conference call at 8:00 a.m. Eastern Time to discuss its financial performance and business outlook.

Important details include:

• Company: Nebius Group N.V.
• Stock ticker: NASDAQ: NBIS
• Reporting period: Q3 2026
• Earnings date: November 12, 2026
• Financial period ended: September 30, 2026
• Conference call: 8:00 a.m. ET

The earnings announcement provided investors with updated information about revenue, adjusted EBITDA, infrastructure expansion and future financial expectations.

Investors can access the official results and shareholder letter through the Nebius Investor Hub.

NBIS Earnings Results: What Happened in Q3 2026?

Nebius reported substantial financial growth during the third quarter, supported by increasing demand for its AI cloud services.

Revenue reached $980.8 million, compared with $146.1 million in Q3 2025. This represents approximately 571% year-over-year growth.

The company also reported significantly higher adjusted EBITDA, showing improvement in its operating performance.

Here are the major financial figures:

Financial metricQ3 2026Q3 2025

Revenue $980.8 million $146.1 million

Adjusted EBITDA $465.8 million -$5.2 million

Net loss from continuing operations $37.5 million $119.6 million

Adjusted net income $90.9 million -$100.4 million

These results highlight the speed at which Nebius is expanding its business.

However, investors should understand the difference between adjusted profitability and GAAP results. Although adjusted net income turned positive, the company still reported a GAAP net loss from continuing operations.

This distinction is important when evaluating the company’s financial health.
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Why Did NBIS Stock Fall After Earnings?

Despite strong revenue growth, Nebius shares came under pressure following the November 12 earnings announcement.

The reaction highlights an important point about growth stocks: strong financial results do not always lead to higher share prices.

Investors were particularly focused on the company’s updated revenue guidance and increased infrastructure spending.

Nebius expects 2026 revenue to reach the lower end of its previously announced $3 billion to $3.4 billion range. Some third-party computing capacity that was expected to become available in 2026 has been delayed until the first half of 2027.

The company also increased its 2026 capital expenditure expectation to approximately $27 billion.

These developments raised questions about the timing of future revenue and the financial resources required to support expansion.

As a result, investors looked beyond the headline revenue growth and focused on management’s updated expectations.

What Is Nebius Group and How Does Its AI Business Work?

Nebius Group is an Amsterdam-based technology company listed on the Nasdaq under the ticker NBIS.

Its main business focuses on AI cloud infrastructure. The company provides computing resources that help developers and enterprises train AI models, build applications and operate machine learning systems.

Its services include:

• GPU-powered cloud computing
• AI model training infrastructure
• Machine learning services
• Data center operations
• AI application development and deployment

Nebius aims to provide a full-stack AI cloud platform, allowing customers to access the computing resources needed for advanced AI workloads.

The company also operates other businesses, including Avride, which develops autonomous vehicles and delivery robots, and TripleTen, an education technology platform.

It also holds investments in technology businesses such as ClickHouse and Toloka.

However, its AI cloud operations remain central to its current growth strategy and investor interest.

AI Infrastructure Demand: Why Nebius Is Getting Attention

Artificial intelligence is creating a growing need for powerful computing infrastructure.

Developing advanced AI models requires specialized processors, high-performance servers, networking equipment and large amounts of electricity.

Many businesses do not want to build and manage all this infrastructure themselves. Instead, they use cloud providers that offer access to computing capacity.

This creates opportunities for companies such as Nebius and its competitors.

The broader AI infrastructure market has also brought attention to NVIDIA, CoreWeave and other technology providers.

For Nebius, the opportunity comes from supplying computing resources to businesses developing AI products, agents and services.

However, the company must expand its infrastructure at a pace that matches customer demand while keeping operating costs under control.

Nebius and Microsoft: Why Their Relationship Matters

Large enterprise customers are important to the long-term growth of AI infrastructure companies.

Nebius has established significant commercial relationships with major technology companies, including Microsoft and Meta.

These relationships matter because large customers can provide demand visibility and support long-term infrastructure investments.

Microsoft is particularly relevant because its AI operations require substantial computing capacity.

Nebius has also discussed financing options supported by long-term contracts with investment-grade customers.

Such arrangements can help the company fund expansion and provide additional financial flexibility.

Nevertheless, investors should distinguish between contracted business, available computing capacity and revenue actually recognized in financial statements. These figures are not interchangeable.

NBIS Stock Price: What Investors Should Watch

The NBIS stock price is influenced by the company’s earnings, AI industry demand, future guidance and overall market sentiment.

The latest earnings report demonstrated strong business growth, but it also highlighted challenges associated with expanding infrastructure.

Several factors could influence the shares:

Revenue growth: Investors want to see whether Nebius can maintain its rapid expansion.

Profitability: Higher adjusted EBITDA is encouraging, but sustainable GAAP profitability and cash generation remain important.

Capital expenditures: Large investments can support future growth but also increase financing requirements.

Customer demand: Long-term enterprise relationships could support future business opportunities.

Market valuation: Investors must consider whether the stock price already reflects expectations for substantial future growth.

Anyone researching NBIS should also monitor its regular-session, premarket and after-hours trading prices separately.

Nebius vs CoreWeave: Competition in the AI Cloud Market

Nebius and CoreWeave are two companies attracting attention in the expanding AI infrastructure market.

Both provide computing resources for businesses developing and operating artificial intelligence systems.

However, their platforms, customer relationships and expansion strategies are different.

ComparisonNebiusCoreWeave

Main focus AI cloud infrastructure GPU cloud infrastructure

Key market AI developers and enterprises AI and high-performance computing

Growth opportunity Expanding AI cloud capacity Growing demand for GPU computing

Main challenge Capital spending and infrastructure execution Financing and infrastructure costs

Competition is important because AI cloud providers must attract customers while securing GPUs, electricity and data center capacity.

For Nebius, maintaining a competitive position will require reliable infrastructure, strong customer relationships and efficient expansion.

Neither company should be considered a better investment based on revenue growth alone. Valuation, profitability and financing risks also matter.

Nebius 2026 and 2027 Revenue Guidance

One of the most important parts of the latest earnings announcement was management’s updated financial outlook.

For 2026, Nebius now expects revenue at the lower end of its previous $3 billion to $3.4 billion guidance range.

The company maintained its adjusted EBITDA margin expectation at approximately 40%.

Its capital expenditure forecast increased to around $27 billion as it invests in additional computing capacity for 2027.

The company also expects annualized recurring revenue to exceed $7 billion in February 2027, representing a shift from its previous December target.

For 2027, Nebius provided an initial revenue outlook of $12 billion to $13 billion.

It also expects to reach pre-tax breakeven in the fourth quarter of 2027, based on management’s stated assumptions.

These targets demonstrate the scale of the company’s ambitions. However, they depend on successful infrastructure expansion, customer demand and access to financing.

What Are the Biggest Risks for NBIS Investors?

Despite its growth opportunities, Nebius faces several challenges that investors should understand.

High infrastructure costs: Building data centers and purchasing GPUs require significant capital.

Financing requirements: The company may need additional debt, customer prepayments or equity financing to support its expansion.

Competition: Other cloud providers are competing for the same AI infrastructure customers.

Construction delays: Data center projects depend on power availability, equipment delivery and regulatory approvals.

Profitability: Strong adjusted results do not automatically mean the company has achieved consistent GAAP profitability.

These risks are especially important because Nebius is investing heavily to capture future AI demand.

Investors should monitor whether new infrastructure generates enough revenue to justify the spending.

What Could Drive NBIS Stock in the Coming Months?

Several developments may influence Nebius shares after the latest earnings announcement.

1. AI computing demand: Continued adoption of AI applications could create additional demand for Nebius services.
2. New data center capacity: Bringing more infrastructure online could support revenue growth.
3. Customer contracts: Additional enterprise relationships may improve long-term business visibility.
4. Financial performance: Revenue, adjusted EBITDA, and cash flow will help investors assess operating progress.
5. 2027 execution: The company’s ability to achieve its revenue and profitability targets will be important.

The next few quarters should provide more information about whether Nebius can successfully convert its infrastructure investments into sustainable business growth.

Final Thoughts on NBIS Earnings

The latest NBIS earnings report shows that Nebius Group is growing rapidly in the competitive AI infrastructure market.

Its 571% revenue increase, improved adjusted EBITDA, and ambitious 2027 outlook highlight the opportunities available in AI cloud computing.

However, the updated 2026 revenue guidance, higher capital expenditure expectations and infrastructure financing requirements also deserve attention.

For investors, the main question is not simply how quickly Nebius can grow revenue. It is whether the company can expand efficiently, manage its financial commitments and achieve sustainable profitability.

The November 2026 results provide an important update, but future execution will determine whether Nebius can meet its ambitious targets.

Frequently Asked Questions

When does NBIS report earnings?

Nebius Group reported its Q3 2026 financial results on November 12, 2026, before the U.S. stock market opened. Its earnings conference call took place at 8:00 a.m. Eastern Time.

When is NBIS earnings for the next quarter?

The next NBIS earnings announcement will cover the fourth quarter and full year 2026. Nebius has not yet confirmed the exact release date.

When are NBIS earnings expected again?

Investors can expect the next quarterly update after the end of December 2026. The official announcement date will be available through the company’s Investor Relations website once confirmed.

When will NBIS report earnings next?

Nebius will report its Q4 and full-year 2026 financial performance in its next annual earnings announcement. The company has not published a confirmed date for that release.

When are NBIS earnings announced?

Nebius generally publishes quarterly financial results through its Investor Relations website and announces conference call details in advance. Its Q3 2026 results were released before market open on November 12.