Nebius Group N.V. Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Key Highlights

  • Strong recovery across advertising and ride-hailing, with continued momentum in e-commerce, Media Services, FoodTech and logistics.
  • Total e-commerce GMV grew 186% year-over-year, accelerating further in March to 199% growth despite a strong pandemic-related base in 2020.
  • Search and Portal revenues grew 15% year-over-year, up from 6% in Q4 2020; share on Android reached a record 59.4%.
  • Ride-hailing GMV up 69% year-over-year; adjusted EBITDA for ride-hailing nearly tripled.
  • Yandex.Plus subscribers exceeded 9 million, more than doubling year-over-year; Plus members now contribute over 50% of Yandex.Market GMV.
  • Full-year revenue guidance increased to RUB 315–330 billion driven by faster-than-expected growth.

E-Commerce Highlights

  • Total e-commerce GMV reached RUB 25 billion in Q1 (45% of full-year 2020 total).
  • Yandex.Market standalone GMV grew 126% year-over-year (vs. 71% in Q4 2020).
  • Assortment doubled to 3.8 million SKUs by March, then expanded to six million in April.
  • Active sellers approaching 10,000 (from 7,600 in December).
  • Own delivery now accounts for nearly 50% of orders vs. 10% in Q1 2020.
  • CPA transition continues; contributes to slower CPC revenue but improves marketplace adoption and retention.

Search & Portal

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Operator: Ladies and gentlemen, thank you for standing by, and welcome to the First Quarter 2021 Financial Results Call. I must advise you this conference is being recorded today, Wednesday, the 28th of April, 2021. We would now like to hand the call over to your first speaker today, Yulia Gerasimova, Investor Relations Director. Please go ahead. Yulia Gerasimova: Hello, everyone and welcome to Yandex First Quarter 2021 Earnings Call. You can find our earnings release and supplementary slides on our IR website. The key speakers on our call today are Tigran Khudaverdyan, our Deputy Chief Executive Officer; Daniil Shuleyko, the Head of E-commerce and [Indiscernible] Business Group; Greg Abovsky, our Chief Operating and Chief Financial Officer and Vadim Marchuk our VP of Corporate Development. Yevgeny Senderov, Chief Financial Officer of Yandex.Taxi will be available on the Q&A session. Now, I will quickly walk you through the Safe Harbor statement. The various remarks that we’ll make during the call regarding our financial performance and operations may be considered forward-looking and such statements involve a number of risks and uncertainties that could cause actual results to differ materially. For more information, please refer to the Risk Factors section of our most recent Annual Report on Form 20-F filed with the SEC. During the call, we'll be referring to certain non-GAAP financial measures. You can find a reconciliation of non-GAAP to GAAP measures in the earnings rele

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