Nebius (NBIS) Operating Expenses (2010 - 2026)
Nebius (NBIS) reported Operating Expenses of $758.2 million for the quarter ended Jun 30, 2026, up 250.5% from $216.3 million a year earlier and up 43.9% from the prior quarter.
Nebius (NBIS) Operating Expenses (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Nebius' Operating Expenses came in at $2.02 billion, up 201.2% year-over-year; for the year ended Dec 31, 2025, it came in at $1.14 billion, up 132.4% from the prior year.
- Operating Expenses has increased for three consecutive years, though with a five-year compound annual growth rate of -16.6% (years ended Dec 2020 to Dec 2025).
- By year, Operating Expenses came in at $491.1 million in the year ended Dec 31, 2024 (+66.2%), $295.5 million in the year ended Dec 31, 2023 (+72.3%), $171.5 million in the year ended Dec 31, 2022 (-96.6%) and $5.09 billion in the year ended Dec 31, 2021 (+80.3%).
- The figure for the quarter ended Jun 30, 2026 ranks as the highest quarterly Operating Expenses since the quarter ended Mar 31, 2023.
- Year over year, Operating Expenses has now increased in each of the last nine quarters, with growth averaging 129.1% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was the quarter ended Jun 30, 2026 (growth of 250.5%); the low point was the quarter ended Mar 31, 2024 (a decline of 99.9%).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at $527 million (quarter ended Mar 31, 2026), $462.2 million (quarter ended Dec 31, 2025) and $276.3 million (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,978.22 Bn | 3,913.71 Bn | 62.56 Bn | 10.93 Bn |
| 2 | International Business Machines | 234.30 Bn | 188.91 Bn | 9.71 Bn | 7.00 Bn |
| 3 | Equinix | 98.75 Bn | 86.64 Bn | 1.31 Bn | 1.97 Bn |
| 4 | Cloudflare | 87.20 Bn | 70.73 Bn | 499.52 Mn | 705.21 Mn |
| 5 | Nebius | 29.33 Bn | 2.76 Bn | 448.70 Mn | 758.20 Mn |
| 6 | Verisign | 28.15 Bn | 25.50 Bn | 393.20 Mn | 146.50 Mn |
| 7 | CoreWeave | 24.27 Bn | 11.36 Bn | 1.70 Bn | 2.62 Bn |
| 8 | Nutanix | 15.78 Bn | 7.47 Bn | 651.35 Mn | 581.36 Mn |
| 9 | GoDaddy | 15.07 Bn | 10.45 Bn | 843.00 Mn | 979.30 Mn |
| 10 | Akamai Technologies | 11.38 Bn | 4.78 Bn | 613.75 Mn | 1.02 Bn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 758.20 Mn |
| Mar 31, 2026 | 527.00 Mn |
| Dec 31, 2025 | 462.20 Mn |
| Sep 30, 2025 | 276.30 Mn |
| Jun 30, 2025 | 216.30 Mn |
| Mar 31, 2025 | 171.20 Mn |
| Dec 31, 2024 | 171.70 Mn |
| Sep 30, 2024 | 112.70 Mn |
| Jun 30, 2024 | 126.70 Mn |
| Mar 31, 2024 | 94.30 Mn |
| Dec 31, 2023 | 100.20 Mn |
| Sep 30, 2023 | 82.60 Mn |
| Jun 30, 2023 | 83.10 Mn |
| Mar 31, 2023 | 161.31 Bn |
| Dec 31, 2022 | 158.65 Bn |
| Sep 30, 2022 | 122.37 Bn |
| Jun 30, 2022 | 109.00 Bn |
| Mar 31, 2022 | 118.44 Bn |
| Dec 31, 2021 | 112.93 Bn |
| Sep 30, 2021 | 96.99 Bn |
Nebius Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=NBIS&period=max&api_key=YOUR_API_KEY
import requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "NBIS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()
const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=NBIS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();