In the latest period of Q4'25, NBIS's Gross Margin stood at 69.9%, reflecting a stable performance compared to the prior quarter's 70.6%. Operating Margin remained negative at -1.03%, showing marginal improvement from Q3'25's -0.89% but continuing a pattern of operational losses. Net Profit Margin was -1.10%, indicating persistent challenges in bottom-line profitability despite the positive gross margin. Over the period from Q1'23 to Q4'25, Gross Margin exhibited volatility, peaking at 74.9% in Q2'25 after a sharp drop to 10.2% in Q1'24, with an overall upward trend from an initial 52.5% to near 70% levels, suggesting improved cost management in recent quarters. Operating Margin started positive at 1.2% in Q1'23 but turned deeply negative from Q2'24 (-491.6%) onward, gradually narrowing losses to around -1% by Q4'25, highlighting ongoing operational inefficiencies. Net Profit Margin showed extreme fluctuations, plunging to -391.6% in Q2'24 before rebounding to a high of 580.4% in Q2'25, yet ending negative, underscoring inconsistent profitability driven by one-time factors or cost pressures.