August 16 $NBIS reported Q2 revenue of $582.3M, up 454% YoY, beating expectations and reinforcing the strength of its AI cloud business.
The company remains unprofitable on a GAAP basis, posting a $0.68 loss per share, but management reaffirmed its full-year 2026 guidance across key metrics.
That growth comes at a price.
NBIS now trades at roughly 60x sales, versus its 3-year historical median of about 6.8x. With negative EPS and free cash flow, traditional P/E valuation doesn't tell the story here.
The market is effectively pricing in years of explosive revenue growth, AI infrastructure demand and meaningful market-share gains.
Nebius keeps scaling its AI cloud capacity, converts its massive contracted demand into revenue and eventually expands margins.$BLUR $VANRY
The company remains unprofitable on a GAAP basis, posting a $0.68 loss per share, but management reaffirmed its full-year 2026 guidance across key metrics.
That growth comes at a price.
NBIS now trades at roughly 60x sales, versus its 3-year historical median of about 6.8x. With negative EPS and free cash flow, traditional P/E valuation doesn't tell the story here.
The market is effectively pricing in years of explosive revenue growth, AI infrastructure demand and meaningful market-share gains.
Nebius keeps scaling its AI cloud capacity, converts its massive contracted demand into revenue and eventually expands margins.$BLUR $VANRY