NBIS Earnings: Nebius Posts $981 Million in Third-Quarter Revenue, Beats Estimates, and Projects $12-13 Billion in 2027 Sales
The AI cloud company's revenue came in well above the $907.5 million analysts expected, on longer deals at higher prices with customers paying more upfront. Its 2026 guide of $3.0-3.4 billion sits a shade under the market's midpoint - and it expects to break even before tax by the end of 2027.
The search is 'nbis earnings,' and the number underneath it beat the Street. Nebius Group, the AI cloud company whose stock trades as NBIS, reported third-quarter revenue of $981 million for the quarter ended September 30 - comfortably above the $907.5 million average estimate of analysts polled by LSEG, Reuters reported Thursday. The company's own release puts revenue at $980.8 million, up 571 percent from a year earlier, with adjusted EBITDA of $465.8 million, a net loss from continuing operations of $37.5 million and adjusted net income of $90.9 million. The report is the payoff to the preview this station carried Wednesday, when the expectation was about $907 million.
The guidance is where the company's confidence shows. Nebius projects 2027 sales of $12 billion to $13 billion and expects to break even on a pre-tax basis by the end of 2027. Its 2026 revenue forecast - $3.0 billion to $3.4 billion - carries a midpoint slightly below the $3.37 billion market estimate, the one figure in the release that runs under expectations. Management described the engine plainly: customers committed to longer deals at higher prices and paid more upfront, and in the third quarter those prepayments covered more than 100 percent of the capital spending for the contracts they signed - customers, in effect, financing the buildout they are buying into.
The structure matters beyond one ticker. AI infrastructure companies are racing to build data centers against demand they cannot fully see; a quarter in which customer prepayments cover the capex is the strongest evidence yet offered that at least one builder's order book is real money rather than memoranda. Nebius, built from the international assets of the former Yandex and headquartered in Amsterdam with a growing US footprint, has become a bellwether for that trade - which is why its earnings, rather than any Houston dateline, drove a top-10 national search on Thursday morning.
The company walks investors through the numbers on its earnings webcast Thursday at 8:00 a.m. Eastern. What the market does with the stock is a separate story; what the filing says is not in dispute: revenue above estimates, the biggest customers paying earlier and longer, and a 2027 target - $12 to $13 billion - that would make this quarter's $981 million look like an early chapter.
