The latest data point for NBIS's Operation Income in Q4'25 shows a significant loss of $234.5M USD, marking the deepest quarterly deficit in the observed period from Q1'23 to Q4'25. This represents a sharp deterioration from the prior quarter's $130.2M USD loss in Q3'25, underscoring ongoing operational challenges. Over the full period, Operation Income exhibited volatility with an initial positive trend in 2023, peaking at $132.9M USD in Q3'23 before declining to $32M USD in Q4'23; a brief recovery to $173.4M USD in Q1'24 was followed by consistent losses starting in Q2'24, escalating from -$122.4M USD to the current nadir. Year-over-year changes reflect this instability, with growth rates turning negative from Q4'23 onward (e.g., -566% in Q4'24) and fluctuating between -175% and +17% in 2025, indicating persistent pressures on profitability despite intermittent improvements. The bar chart visualization highlights these swings, while the overlaid YoY line chart emphasizes the lack of sustained recovery.