네비우스 그룹 2026년 2분기 실적 발표 주요 내용: 매출 454% 급증
Released on August 12, 2026, Nebius Group’s second-quarter 2026 earnings call underscored rapid scaling across its artificial intelligence infrastructure operations. Group revenue surged 454% year over year to $582 million, reflecting a 46% sequential increase. Nebius AI alone contributed $575 million, accounting for 98% of total group revenue and marking a 514% year-over-year expansion. At the close of June, the company’s annualized run rate revenue reached $3 billion, up 598% year over year and 58% from the $1.9 billion recorded at the end of March. Commercial momentum was further reinforced by strong customer prepayment activity, with approximately 70% of deals closed in Q2 including an upfront prepayment. Total customer prepayments are projected to deliver more than $9 billion in upfront funding throughout the year.
Profitability metrics shifted decisively positive. Group adjusted EBITDA reached $236 million, compared to a $21 million loss a year ago and $129.5 million in the first quarter. The group’s adjusted EBITDA margin expanded to 41%, up from 32% in Q1. Within the segment, the Nebius AI business generated the full $236 million in adjusted EBITDA at a 50% margin.
Capital allocation remained aggressive, with capital expenditures totaling approximately $5.7 billion in the quarter, primarily directed toward GPU acquisitions, GPU-related hardware, and data center expansion. Despite the heavy investment cycle, the company ended the period with $8 billion in cash and cash equivalents, supported by $2.3 billion in operating cash flow during the quarter. To optimize its capital structure, Nebius executed an at-the-market equity program, issuing 12.7 million Class A shares at a weighted average price of $224 per share, generating gross proceeds of approximately $2.8 billion. The company also announced a $775 million asset-backed debt facility in July, priced at a modest spread over benchmark rates and secured by $40 billion in contracted backlog, effectively diversifying its funding mix.
On the operational front, Nebius closed four landmark deals averaging over $1 billion each, delivering yields of $20 million to $25 million per megawatt, with prepayments covering 50% to 60% of associated capital expenditures. The firm also conducted a successful capacity auction that cleared at 15% above the highest price ever charged for Blackwell chips, signaling robust market pricing. Strategically, Nebius introduced an asset-light partnership model designed to unlock new capacity with minimal balance sheet capital, attracting dozens of partner inquiries. Looking ahead, the company raised its year-end contracted power target to 5 gigawatts, positioning itself to construct more than 1 gigawatt of new capacity annually by 2027.
For the full year 2026, Nebius reaffirmed its guidance, projecting an annualized run rate revenue of $7 billion to $9 billion, group revenue between $3 billion and $3.4 billion, a group adjusted EBITDA margin of approximately 40%, and capital expenditures ranging from $20 billion to $25 billion. Market participants should note that GuruFocus has identified ten warning signs associated with NBIS. The complete earnings call transcript is available for detailed review.