"Nebius posted revenue growth of 355 percent in the third quarter. The former Yandex subsidiary, officially based in the Netherlands, also announced a five-year contract with Meta worth approximately $3 billion. Nebius reported revenue of $146 million in the third quarter, an increase of 355 percent compared to last year. However, this remains just below analysts' expectations, which were $157 million according to Bloomberg data."
"The company predicts it will achieve annual recurring revenue of between $7 billion and $9 billion by the end of 2026. CEO and co-founder Arkady Volozh announced the Meta deal on Tuesday. It is the second major AI infrastructure agreement for the company. In September , Nebius signed a contract with Microsoft for AI computing capacity worth at least 17 billion euros. Nebius' shares have risen by about 300 percent this year."
"Chief Revenue Officer Marc Boroditsky calls the outlook "robust but not a foregone conclusion." According to him, the forecast is based on the influx of future deals and the expected growth of the company's own AI cloud. "It will take real work," Boroditsky said in an interview."
Nebius reported third-quarter revenue of $146 million, a 355 percent year-on-year increase, slightly below analysts' $157 million expectation. The company announced a five-year contract with Meta worth about $3 billion and earlier secured a Microsoft agreement for AI computing capacity valued at least €17 billion. Nebius forecasts annual recurring revenue of $7 billion to $9 billion by the end of 2026 and has seen its shares rise roughly 300 percent this year. The company sold all available cloud capacity in Q3 and says the current quarter is nearly sold out. Leadership plans to fund expansion via corporate debt, external financing, and equity while maintaining a disciplined capital structure supported by large customers' creditworthiness.
Read at Techzine Global
Unable to calculate read time
Collection
[
|
...
]