NBIS · Nebius Group NV
AI read · Good for NBIS
The AI's read
Nebius reported Q2 revenue up 454% to $582M, EBITDA margins jumped to 41%, and management is pointing to $7-$9B ARR by year-end. The company also announced four >$1B deals and a new shorter-duration pricing model, so the numbers are large and real. Shares fell ~2.2% despite the beat, which suggests the market is nervous about the Vineland board hearings and the fact revenue recognition for that capacity may not start until 2027. RSI is 63 and the stock already ran recently, so some optimism is baked in. Bottom line: we lean bullish on the underlying business momentum and deal economics. Execution risk around Vineland and timing of revenue recognition tempers conviction, so treat this as growth with headline-level risk.