Loading…
AI cloud company (former Yandex international business) that rents Nvidia GPU compute to AI developers.
AI cloud company (former Yandex international business) that rents Nvidia GPU compute to AI developers.
Customers pay for GPU time on usage or reserved-capacity terms, so revenue follows how fast new data-centre capacity comes online. It is based in the Netherlands, sold its Russian businesses in 2024, and in 2025 signed multi-year capacity agreements with Microsoft and Meta. Avride and Toloka are small side businesses beside the cloud.
In one line: A Europe-based CoreWeave, spun out of Yandex.
Moat: narrow (process know-how, scale). Deep cloud/infrastructure engineering heritage from Yandex, but competes in a capital-intensive, crowded neocloud market.
Headquarters: Amsterdam, Netherlands · Founded: 2024 · Employees: 1,543
Size NBIS (NBIS) is a United States Information Technology company (Packaged Software) with a market value of $35.2B, the 325th largest of 3,117 United States companies the cockpit tracks. Shares closed at $129.49 on 6 Nov 2026.
Performance Over six months the shares fell 8.3%, against +24.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 460.9% over the last twelve months (peer median +20.8%); the operating margin is -49.3% (peer median 7.6%).
Valuation It trades at 27.5× enterprise value to sales against a peer median of 8.0× (2nd most expensive of 21).
Capital Return on invested capital runs 15.3 points below its cost of capital (11.1% WACC).
Backlog Backlog (remaining performance obligations) was $21.3B at 31 Dec 2025 — 40.3 years of trailing revenue. Backlog detail →
Credit NBIS has 2 bonds outstanding ($3.16B).
Short interest Short interest is 20.0% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.36B | $530M | $91.5M | $20.9M | $7.46B |
| Revenue growth | — | +479% | +338% | -100% | — |
| Gross profit | $255M | -$54.3M | -$29.3M | -$40.3M | $3.68B |
| EBITDA | $126M | -$143M | -$314M | -$291M | $1.00B |
| Net income | $61.6M | $82.5M | -$641M | $241M | $564M |
| Free cash flow | n/a | -$3.86B | -$562M | $746M | -$147M |
| Capital expenditure | n/a | $4.07B | $808M | $83.4M | $743M |
| Total debt | $10.1B | $4.97B | $49.5M | $26.2M | $1.43B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| NBIS NBIS | $35.2B | -8% | +461% | -49% | 27.5× | n/a |
| CoreWeave CRWV | $25.6B | -59% | +115% | -3% | 9.3× | n/a |
| Amazon AMZN | $2.80T | -5% | +15% | 13% | 3.7× | n/a |
| Microsoft MSFT | $3.94T | +28% | +18% | 47% | 11.6× | 17.2% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 7.2× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NBIS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -41.1% | +3.3% | 3rd lowest of 21 |
| 6-month return | -8.3% | +24.0% | 5th lowest of 19 |
| Distance from 52-week high | -56.8% | -24.9% | 4th lowest of 21 |
| Revenue growth (TTM) | +460.9% | +20.8% | highest of 21 |
| Operating margin | -49.3% | 7.6% | 3rd lowest of 21 |
| EV / Sales | 27.5× | 8.0× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -15.3 pp | -4.3 pp | 6th lowest of 20 |
| Net debt / EBITDA | 16.0× | -0.2× | most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NBIS NBIS | United States | $35.2B | -8% | +461% | -49% | 27.5× | n/a | n/a |
| Zscaler ZS | United States | $32.2B | +30% | +25% | -4% | 9.1× | 20.7% | +37.9% |
| Atlassian TEAM | United States | $38.7B | +5% | +26% | 4% | 5.9× | 44.7% | +25.8% |
| Dassault Systemes DSY.PA | France | $39.0B | +32% | 0% | 26% | 5.3× | 8.3% | +7.0% |
| Twilio TWLO | United States | $31.3B | 0% | +19% | 8% | 5.0× | 38.2% | +23.5% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 8.9× | 39.2% | +28.4% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 24.5× | 45.5% | +94.7% |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 4.1× | 4.3% | +24.6% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | 123.0× | n/a | n/a |
| Roper Technologies ROP | United States | $47.2B | +39% | +9% | 28% | 6.7× | 12.7% | +10.2% |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 3.8× | 5.8% | +12.9% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | 9.3× | n/a | n/a |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 8.2× | 27.9% | +33.1% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 12.6× | n/a | n/a |
| Constellation Software CSU.TO | Canada | $53.3B | +37% | +17% | 16% | 4.6× | 11.2% | +25.0% |
| Hithink RoyalFlush Information Network 300033.SZ | China | $22.9B | -14% | +48% | 56% | 18.4× | 37.1% | +16.3% |
| Unity Software U | United States | $22.7B | +83% | +14% | -14% | 11.3× | 33.5% | +19.1% |
| Autodesk ADSK | United States | $54.7B | +7% | +19% | 23% | 6.9× | 18.1% | +13.7% |
| PTC PTC | United States | $21.2B | +33% | +20% | 40% | 7.7× | 10.3% | +8.6% |
| Toast TOST | United States | $20.1B | +38% | +22% | 7% | 2.5× | 28.6% | +49.5% |
| Cerebras Systems CBRS | United States | $20.1B | n/a | +91% | -81% | 19.0× | n/a | n/a |
NBIS has 2 bonds outstanding with $3.16B face value.
NBIS reported $21.3B of remaining performance obligations at 31 Dec 2025. That is 40.3 years of trailing revenue already under contract.