• Nebius Group average gross margin for 2023 was 54.22%, a 0.18% increase from 2022.
• Nebius Group average gross margin for 2022 was 54.12%, a 0.5% increase from 2021.
• Nebius Group average gross margin for 2021 was 53.85%, a 15.79% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.