Nebius Group NV
docs.nebius.comWhat Do They Do?
Provides an AI cloud for enterprises, AI companies and developers, alongside autonomous-vehicle technology and technology-career education.
20-F for FY2025, filed Apr 30, 2026Nebius, a global AI cloud platform, delivers a unified full-stack AI cloud that spans the complete AI journey – from compute capacity to…View ↗
Nebius Group includes Nebius as well two distinct businesses that operate under separate brands: Avride, a leading developer of autonomous…View ↗
As AI is rapidly becoming a general-purpose technology, we are well positioned to service customers from large enterprises, established…View ↗
How Do They Make Money?
Nebius customers pay for GPU computing, storage and managed cloud services either by usage, billed monthly, or for reserved capacity over the service period.
20-F for FY2025, filed Apr 30, 2026The Group operates a cloud platform providing high-performance computing (HPC), managed Kubernetes services, object storage, and scalable…View ↗
Pay-as-you-go (PAYG) access is provided to customers on a consumption basis and is billed monthly in arrears based on usage of services in…View ↗
For Reserved Capacity arrangements, the Group recognizes revenue ratably over time as services are provided. Variable consideration —…View ↗
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20-F for FY2025, filed Apr 30, 2026
FY2025 revenue by reportable segment ↗
$529.8M
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20-F for FY2025, filed Apr 30, 2026
$529.8M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Nebius
|
91%
FY2022: 3.7%
|
Nebius, FY2025
$480.3M Sources
|
|
AvRide Segment
|
0.3%
FY2022: 2.2%
|
AvRide Segment, FY2025
$1.3M Sources
|
|
TripleTen
|
10%
FY2022: 16%
|
TripleTen, FY2025
$54.1M Sources
|
Who Are Their Customers?
Nebius sells to enterprises and software vendors, AI companies and startups, and research labs and developers. Its direct-sales and channel teams handle customer acquisition, with technical teams supporting onboarding.
20-F for FY2025, filed Apr 30, 2026
Do Revenues Turn Into Profits?
Yes. It kept 16 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$3.7B.
20-F for FY2025, filed Apr 30, 2026
−$611.7MView ↗
20-F for FY2025, filed Apr 30, 2026
$82.5MView ↗
20-F for FY2025, filed Apr 30, 2026
−$3.7BView ↗
How Are They Changing?
From consumer services to AI cloud
The older report describes search and advertising, mobility, e-commerce, delivery, entertainment subscriptions and other consumer services. The latest centers the group on an AI cloud, alongside autonomous-vehicle development and technology-career education.
20-F for FY2022, filed Apr 20, 2023 20-F for FY2025, filed Apr 30, 2026Yandex is a technology company that builds intelligent products and services powered by our machine learning and other technologies, with…View ↗
Although we continue to derive a substantial part of our revenues from online advertising: our core segment Search and Portal accounts for…View ↗
E-commerce, Mobility and Delivery includes our transactional online-to-offline (O2O) businesses, which consist of (i) the mobility…View ↗
Plus and Entertainment Services, previously referred to as Media Services, including our subscription service Yandex Plus, our…View ↗
Who Do They Compete With?
Competes with Amazon, Google, Microsoft, Oracle, CoreWeave, Crusoe, Lambda Labs, Fireworks AI, Together AI, Waymo, and Zoox
20-F for FY2025, filed Apr 30, 2026As a full-stack AI cloud provider, we face competition from cloud computing providers that are scaling AI-specific offerings, such as…View ↗
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