$NBIS CRUSHED Q3 EARNINGS
• Revenue $981M vs Est. $908M (+571% YoY)
• EBITDA $466M vs Est. $353M
• ARR: $6.4B
• Cash $7.4B
• >90% of contract value signed carried a prepayment
Management expects customer prepayments and financing backed by existing contracts with investment-grade customers to cover ~80% of 2027 CapEx.