Nebius (NBIS) Gross Margin (2010 - 2026)

Nebius (NBIS) posted Gross Margin of 73.98% for Q1 2026, up 5.82% sequentially from 69.92% in Q4 2025, and up 2251.0% YoY from 3.15% in Q1 2025.

Analysis

Nebius (NBIS) Gross Margin (2010 - 2026) Analysis & Trends

Nebius has reported Gross Margin for 17 years, with the latest figure at 73.98% in Q1 2026.

Quarterly Gross Margin rose 2251.0% year-over-year to 73.98% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 72.06% (up 2046.0% YoY) and the FY2025 annual result came in at 68.63%, up 1639.0% from the prior year.
Gross Margin rose to 73.98% in Q1 2026 per NBIS's latest filing, from 69.92% in the prior quarter.
Over five years, Gross Margin peaked at 100.0% in Q2 2023 and troughed at 21.93% in Q1 2024.
A 5-year average of 66.46% and a median of 69.16% in 2024 frame the typical range for Gross Margin.
The sharpest annual moves came in 2023 and 2024: Gross Margin surged 4812 bps in 2023, then plunged 7807 bps in 2024.
Over 5 years, Gross Margin stood at 52.76% in 2022, then soared by 90 bps to 100.0% in 2023, then sank by 60 bps to 40.06% in 2024, then soared by 75 bps to 69.92% in 2025, then climbed by 6 bps to 73.98% in 2026.
According to Business Quant data, Gross Margin over the past three periods registered 73.98%, 69.92%, and 70.64% for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Gross Margin (Qtr)
1	Alphabet	4,083.83 Bn	3,654.79 Bn	73.85 Bn	61.65%
2	Meta Platforms	1,456.07 Bn	1,365.81 Bn	49.47 Bn	81.37%
3	Spotify Technology	111.71 Bn	104.79 Bn	1.86 Bn	33.41%
4	Nebius	50.03 Bn	40.93 Bn	448.70 Mn	77.06%
5	Reddit	28.44 Bn	25.65 Bn	734.60 Mn	91.27%
6	Bilibili	13.59 Bn	11.45 Bn	433.97 Mn	37.22%
7	Tencent Music Entertainment	12.71 Bn	9.21 Bn	582.00 Mn	-
8	Pinterest	12.21 Bn	10.93 Bn	922.30 Mn	78.18%
9	Match	9.45 Bn	8.86 Bn	648.84 Mn	76.06%
10	Snap	9.26 Bn	6.60 Bn	931.11 Mn	58.23%

Historic Data

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