Nebius Group Earnings Call Transcripts
Fiscal Year 2026
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Nebius introduced major updates including the AI-powered Echo agent for resource management, managed SkyPilot for streamlined AI orchestration, and new features for security, governance, and cost optimization. The roadmap highlights early GB300 access, advanced compute models, and expanded serverless AI capabilities.
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Backblaze is capitalizing on the AI-driven shift in cloud infrastructure by offering high-performance, low-cost, and independent storage solutions that address hyperscaler limitations. With rapid growth in AI customers, innovative products like Shard Stash and B2 Overdrive, and a strong financial outlook, the company is positioned as a key enabler for both neoclouds and AI builders.
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Q1 2026 saw explosive revenue and margin growth, driven by surging AI cloud demand and major contracts with Meta and NVIDIA. CapEx guidance was raised to $20–$25B to support future capacity, with most funding already secured.
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The company rapidly scaled its vertically integrated AI cloud platform, targeting 3 GW capacity and $7–9 billion ARR by 2026. Demand outpaces supply, with a focus on AI builders, enterprises, and solution-based sales, supported by large contracts and upfront payments.
Fiscal Year 2025
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2025 saw explosive growth, with revenue and ARR far exceeding targets, driven by strong AI cloud demand and full capacity sell-outs. 2026 guidance calls for $3–$3.4B revenue and $7–$9B ARR, with major CapEx and continued expansion, supported by robust financing and a strong customer pipeline.
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Nebius leverages a highly experienced engineering team and a vertically integrated AI infrastructure platform to drive rapid growth, with strong demand from both startups and enterprises. Major partnerships, robust capital raising, and disciplined financial management underpin its expansion, with profitability and margin improvements already underway.
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Q3 revenue surged 355% year-over-year, driven by strong AI infrastructure demand and major long-term deals with Meta and Microsoft. Capacity remains the main growth constraint, prompting a significant CapEx increase and aggressive expansion plans to meet a $7B–$9B ARR target for 2026.
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Revenue surged 625% year-over-year to $105.1 million, with ARR guidance raised to $900M–$1.1B amid strong AI demand and rapid capacity expansion. Core AI infrastructure turned EBITDA positive, and major partnerships and customer wins position the group for accelerated growth.
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Q1 2025 delivered nearly 400% revenue growth and a 700% increase in annualized run rate revenue, fueled by strong AI compute demand and global infrastructure expansion. Guidance for 2025 remains robust, with $2B CapEx planned and profitability expected in H2 2025.
Fiscal Year 2024
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Q4 saw major milestones: public trading resumed, $700M raised, and rapid data center expansion. 2025 guidance is reaffirmed with ARR targeted at $750M–$1B, driven by new GPU deployments and strong growth in business units like Toloka and Avride.
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Revenue grew 2.7x sequentially, with $2.3B in cash and aggressive CapEx planned for AI infrastructure. 2025 ARR guidance is $500M–$1B, with strong GPU supply and global expansion underway. Non-core units show robust growth and strategic flexibility.