Nebius spent about $7.44 on equipment per revenue dollar in Q3; 2027 prepayment coverage still leaves about $6B to $11B to fund
Nebius Group ($NBIS) reported Q3 this morning: revenue up 571% to $980.8 million and 2027 capex guided to $40 to $45 billion. Shares fell about 10% premarket.
It spent $7.3 billion on equipment in the quarter, about $7.44 per revenue dollar. Even if prepayments cover 75% to 85% of 2027 capex, $6 to $11 billion still has to be raised. That gap is what the stock is trading on.
https://www.cnbc.com/2026/11/12/nebius-q3-earnings-report-2026.html
Sources: Nebius Q3 release: revenue $980.8M (+571%), adj. EBITDA $465.8M, Q3 purchases of property and equipment $7,300.4M · @wallstengine: Nebius CEO expects prepayments and financing against existing contracts to cover 75%-85% of 2027 capex · @StockSavvyShay: $NBIS Q3 revenue $981M vs $908M est., EBITDA $466M, ARR $6.4B, cash $7.4B
Not financial advice. For informational and educational purposes only.
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