Nebius Group Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	754.5	9.8	-352	-299	-180	-195.92
Depreciation & Amortization	640.5	468.5	85.8	36.4	29.5	557.82
Stock-Based Compensation	100.9	83.2	54.5	28.8	9.6	278.49
Other Adjustments	-1,296	-523	14.2	12.7	11.2	-119.05
Change in Receivables	-1,464	-714.6	-9.8	2.3	-2.7	-257.52
Changes in Inventories	-	-	-	-	-	-63.59
Changes in Accounts Payable	-37	-29	-28	1.5	13	302.72
Changes in Unearned Revenue	4,761	1,566	10	1.9	0.8	50.89
Changes in Other Operating Activities	-621.5	-475.9	470.9	1,045	815.6	-429.59
Operating Cash Flow	2,840	384.8	245.6	829.8	697	124.25
Operating Cash Flow Growth	-	56.68%	-70.40%	19.05%	460.96%	-71.82%
Capital Expenditures	-5,995	-4,066	-807.5	-82.9	-14.6	-596.6
Sale of Property, Plant & Equipment	-	-	1.6	-	2	-
Purchases of Investments	-100	-125	-	-10	-	-3,674
Proceeds from Sale of Investments	-	-	10	-	-	4,702
Payments for Business Acquisitions	-191.55	-42.7	-	-	-	-110.12
Proceeds from Business Divestments	-	-	1,467	-	-	-
Other Investing Activities	4	4.4	-359.9	-1,119	-390.5	-27.16
Investing Cash Flow	-6,328	-4,229	311.6	-1,212	-403.1	294.07
Short-Term Debt Issued	-	-	-	-	-	39.32
Short-Term Debt Repaid	-	-	-	-	-	-5.31
Net Short-Term Debt Issued (Repaid)	-	-	-	-	-	34.01
Long-Term Debt Issued	8,500	4,163	-	-	-	-
Long-Term Debt Repaid	-0.8	-0.8	-0.7	-	-	-9.85
Net Long-Term Debt Issued (Repaid)	8,499	4,162	-0.7	-	-	-9.85
Issuance of Common Stock	3,160	1,158	690	-	-	15.42
Repurchase of Common Stock	-	-	-	-	-	-93.14
Net Common Stock Issued (Repurchased)	3,160	1,158	690	-	-	-77.72
Other Financing Activities	-56.9	-194.6	136.2	375.6	-100.3	-1,081
Financing Cash Flow	11,603	5,126	825.5	375.6	-100.3	-1,134
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-14.9	-9.7	-23.6	-102.6	-61.8	6.83
Net Cash Flow	8,099	1,271	1,359	-109.3	131.8	-709.26
Free Cash Flow	-3,155	-3,681	-561.9	746.9	682.4	-472.35
Free Cash Flow Growth	-	-	-	9.45%	-	-
FCF Margin	-359.37%	-694.83%	-614.10%	7621.43%	5054.81%	-9.92%
Free Cash Flow Per Share	-12.07	-14.86	-2.00	2.01	1.85	-1.30
Levered Free Cash Flow	8,166	1,708	-910.9	1,243	1,590	-350.33
Unlevered Free Cash Flow	-1,858	-2,971	-667.27	714.48	685.33	-538.49

Updated May 14, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q