Nebius Q2 Revenue Surges 454% to $582M, EBITDA Turns Positive

Nebius reports massive YoY revenue growth and EBITDA turnaround in Q2 earnings. Neocloud sector stocks IREN, Nebius, and Coreweave post gains following the release.

Woofun AI data shows that Nebius reported second-quarter revenue of $582.3 million, representing a 454% year-over-year increase from $105.1 million. Adjusted EBITDA reached $236.2 million, reversing a $21 million loss recorded in the prior year period, while the adjusted net loss narrowed by 64% to $33.2 million from $91.5 million.

Following the earnings release, the Neocloud sector demonstrated strength at the U.S. market open. IREN shares rose by more than 5%, while Nebius and Coreweave recovered from lower openings to finish with gains exceeding 3%. Nebius stock had previously recorded a 34.14% increase, marking its largest single-day gain since September last year.