Nebius Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	101.7	-641.4	241.3	745.6	-195.48
Depreciation & Amortization	454.6	86.3	36.8	29.5	436.07
Other Amortization	17.5	-	-	-	147.48
Loss (Gain) From Sale of Investments	-598.9	-	-	-	-
Loss (Gain) on Equity Investments	24.3	-0.4	10.9	14	-84.85
Stock-Based Compensation	83.2	56.6	31.4	9.6	277.57
Provision & Write-off of Bad Debts	5.5	0.3	-0.4	1.1	16.64
Other Operating Activities	-49.4	262.1	-580.7	-929.5	-77.83
Change in Accounts Receivable	-714.6	-9.1	2.1	-2.7	-256.66
Change in Inventory	-	-	-	-	-63.38
Change in Accounts Payable	-29	-31.3	6.7	13	301.72
Change in Unearned Revenue	1,566	9.6	2.3	0.8	50.72
Change in Other Net Operating Assets	-458.8	-40.4	-15.5	-21.1	-428.17
Operating Cash Flow	384.8	245.6	829.8	697	123.84
Operating Cash Flow Growth	56.68%	-70.40%	19.05%	462.82%	-71.91%
Capital Expenditures	-4,066	-807.7	-83.4	-14.6	-594.63
Sale of Property, Plant & Equipment	-	1.6	-	2	-
Cash Acquisitions	-	-	-	-	-109.75
Divestitures	-	1,467	-	-	-
Investment in Securities	-167.7	10	-10	-	1,025
Other Investing Activities	4.4	-359.7	-1,119	-390.5	-28.68
Investing Cash Flow	-4,229	311.6	-1,212	-403.1	293.1
Short-Term Debt Issued	-	-	-	-	39.19
Long-Term Debt Issued	4,163	-	-	-	-
Total Debt Issued	4,163	-	-	-	39.19
Short-Term Debt Repaid	-	-	-	-	-5.29
Long-Term Debt Repaid	-0.8	-0.7	-	-	-9.82
Total Debt Repaid	-0.8	-0.7	-	-	-15.11
Net Debt Issued (Repaid)	4,162	-0.7	-	-	24.08
Issuance of Common Stock	1,258	700	-	-	15.37
Repurchase of Common Stock	-	-	-	-	-92.83
Other Financing Activities	-294.6	126.2	375.6	-100.3	-1,077
Financing Cash Flow	5,126	825.5	375.6	-100.3	-1,131
Foreign Exchange Rate Adjustments	-9.7	-23.6	-102.6	-61.8	6.81
Net Cash Flow	1,271	1,359	-109.3	131.8	-706.92
Free Cash Flow	-3,681	-562.1	746.4	682.4	-470.79
Free Cash Flow Growth	-	-	9.38%	-	-
Free Cash Flow Margin	-694.83%	-478.38%	3571.29%	5054.81%	-9.92%
Free Cash Flow Per Share	-14.55	-2.00	2.01	1.85	-1.30
Cash Interest Paid	-	-	-	-	7.66
Cash Income Tax Paid	-	4.8	2	0.2	167.55
Levered Free Cash Flow	-3,610	-1,256	648.98	-406.56	106.15
Unlevered Free Cash Flow	-3,592	-1,256	648.98	-406.56	109.47
Change in Working Capital	363.4	-71.2	-4.4	-10	-395.78

Source: S&P Global Market Intelligence. Standard template. Financial Sources.