Nebius increased revenue by nearly 700%. Volozh announced "unprecedented demand"
Stocks jumped nearly 16% in the premarket
Photo: Nebius
Arkady Volozh's Nebius Group cloud computing provider Nebius reported a 684% year-over-year increase in first quarter revenue. "We continue to see unprecedented demand [for our products] in the market," Volozh said in a letter to investors. - Demands for computing resources and cloud solutions far exceed capacity as more industries adopt AI and companies move from experimentation to real-world practical applications," he added. The company's results for the first three months of 2026 exceeded Wall Street analysts' expectations, Barron's points out.
Nebius shares jumped nearly 16% in the U.S. premarket, up 114% since the beginning of the year and nearly 400% over the past 12 months.
Which Nebius reported on in the report
- The company's first quarter 2026 revenue was $399 million, more than seven times last year's first quarter Nebius revenue of $55.3 million and above Wall Street's forecast of $375.1 million.
- Adjusted loss for the same time rose to $100.3 million from $83.6 million a year ago, but was significantly better than the $174 million loss analysts had forecast in the first quarter.
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