As of Q4'25 (2025-12-31), NBIS reported an operating income of -234.5M USD, marking the lowest point in the period shown. The year-over-year change for this quarter was -55.09%, indicating a significant decline compared to the same quarter in the previous year. From Q1'23 to Q4'25, the operating income trend for NBIS has been highly volatile, with notable swings between positive and negative values. After reaching a peak of 173.43M USD in Q1'24, the company experienced a sharp downturn, moving into negative territory from Q2'24 onward and deepening losses through Q4'25. The YoY growth rates mirror this volatility, with a remarkable spike of 700.30% in Q1'24 followed by persistent negative growth, highlighting substantial operational challenges and a deteriorating financial position over the most recent quarters.