Earnings Call
Aug 12, 2026
Q2 FY2026
EPS Estimate
-0.72
EPS Actual
-0.12
Post-Earnings Close
$259.20
Earnings Reaction
+34.1%
Nebius Group's Q2 FY2026 results mark a genuine inflection point for the company, not merely a strong quarter. Revenue of $582 million grew 454% year-over-year and 46% sequentially, comfortably ahead of consensus estimates near $570-583 million. More striking is the profitability trajectory: group adjusted EBITDA reached $236 million at a 41% margin, swinging from a $21 million loss a year ago and expanding from 32% in Q1. The Nebius AI segment itself ran at a 50% adjusted EBITDA margin, a figure that would be competitive with established hyperscalers and signals the business is not simply scaling revenue at the expense of economics. Annualized run-rate revenue hit $3 billion at June 30, up 598% year-over-year and 58% from $1.9 billion just three months prior. Management reaffirmed full-year 2026 guidance for group revenue of $3.0-$3.4 billion, ARR of $7-9 billion
Report generated on Aug 12, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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