Yandex N.V. Stock Price, News & Analysis

Yandex (YNDX) historically refers to Yandex N.V., a Dutch public limited company that has been listed on Nasdaq and the Moscow Exchange under the symbol YNDX. According to multiple company announcements, Yandex is a technology company registered in the Netherlands that builds intelligent products and services powered by machine learning, with a stated goal of helping consumers and businesses better navigate the online and offline world.

The company reports that since 1997 it has delivered search and navigation products, and over time has expanded into areas such as search and information services, e-commerce, online entertainment, cloud computing, mobility, and other online-to-offline (O2O) services. Yandex has described itself as one of Europe’s largest internet businesses and Russia’s most popular search engine, and its public materials highlight that it operates a portfolio of consumer and business-facing services built on its technology and data capabilities.

Core business and technology focus

Yandex states that it builds intelligent products and services powered by machine learning. Company disclosures note that practically all of its services use machine learning, including for ranking search results, serving online advertisements and performing translations. Yandex has also referenced its own machine learning method, MatrixNet, in earlier descriptions of its technology approach. Across its segments, the company emphasizes the use of data and algorithms to improve relevance, efficiency and user experience.

In its more recent shareholder communications, Yandex groups its activities into several major business areas. The Search and Portal segment includes services such as Search, Geo, Yandex 360, Weather, the Alice voice assistant and other services offered in Russia, Belarus and Kazakhstan. These services are centered on search, information access and related tools that help users find and organize information.

E-commerce, mobility and online-to-offline services

Yandex also reports a significant E-commerce, Mobility and Delivery segment. This segment includes mobility businesses such as ride-hailing in Russia and other countries across the CIS and EMEA regions, the Yandex Drive car-sharing business for both B2C and B2B, and scooters. It also includes e-commerce businesses in Russia and the CIS, including the Yandex Market multi-category e-commerce marketplace, Yandex Lavka hyperlocal convenience store delivery, and grocery delivery services of Yandex Eats and, following an acquisition, Delivery Club.

In addition, Yandex discloses a range of other O2O services, including Yandex Delivery (a last-mile logistics solution for individuals, enterprises and small and medium businesses), Yandex Eats and Delivery Club food delivery services from restaurants, the Lavka Israel hyperlocal convenience store delivery service, and Yandex Fuel, a contactless payment service at gas stations. These businesses extend the company’s technology and logistics capabilities into physical-world transactions.

Plus and entertainment services

Yandex has renamed its Media Services segment to Plus and Entertainment Services, which it notes better reflects the nature of the included businesses. Within this area, the company has highlighted Yandex Plus, a subscription service whose subscriber base is regularly reported in its financial results, and entertainment streaming services. Yandex has also stated that it made a strategic decision to exit certain media businesses (other than entertainment streaming), including the sale of its news aggregation platform and Zen infotainment service.

Corporate structure, listings and strategic review

Yandex N.V. describes itself as the Dutch parent company of the Yandex group. It has been listed on the Nasdaq Global Select Market under the ticker YNDX and on the Moscow Exchange under the same symbol. Company announcements note that trading in Yandex N.V. Class A shares on Nasdaq was suspended on February 28, 2022, when Nasdaq halted trading in securities of a number of companies with material operations in Russia. Yandex later disclosed that it received a notice of determination to delist its securities from Nasdaq under Nasdaq Listing Rule 5101 and that it intended to appeal this determination. At the time of that notice, Yandex stated that trading of its Class A shares on the Moscow Exchange was unaffected and continued, and that its Class A shares remained registered under the U.S. Securities Exchange Act with current reporting obligations.

In light of the geopolitical environment, Yandex’s Board of Directors announced that it had commenced a strategic process to review options to restructure the group’s ownership and governance. According to that update, a special committee was tasked with exploring scenarios including the development of international divisions of certain services (such as self-driving technologies, cloud computing, data labeling and ed-tech) independently from Russia, and the potential divestment of Yandex N.V.’s ownership and control of other businesses in the group, including search and advertising, mobility, e-commerce, food-delivery, delivery and entertainment services in Russia and international markets. The Board indicated that Yandex N.V. would in due course be renamed, with the business to be divested retaining exclusive rights for the use of the Yandex brand.

Transformation into Nebius Group N.V.

Subsequent SEC filings for the YNDX Class A shares identify the registrant as Nebius Group N.V., with principal executive offices in the Netherlands. These filings present Nebius Group N.V. as the company furnishing operating and financial reviews, unaudited condensed consolidated financial statements, shareholder communications, and other disclosures under the same Exchange Act registration that previously related to Yandex N.V. This indicates that the entity historically associated with the YNDX ticker has undergone a corporate transformation and renaming to Nebius Group N.V., consistent with the earlier strategic update that anticipated a renaming of Yandex N.V.

One of the Nebius Group N.V. filings describes a commercial agreement under which a wholly owned subsidiary, Nebius, Inc., agreed to provide a counterparty with access to dedicated GPU infrastructure capacity at a data center in Vineland, New Jersey over a multi-year term. Other Nebius Group N.V. filings reference quarterly financial information, an operating and financial review and prospects, sustainability reporting and annual general meeting matters. These documents show that the company associated with the YNDX registration now focuses on activities under the Nebius name rather than on the broader Yandex-branded portfolio described in earlier Yandex N.V. communications.

Regulatory and geopolitical context

Yandex’s financial disclosures emphasize that geopolitical tensions and related sanctions have created an exceptionally challenging environment for its business, team and shareholders. The company notes impacts on the Russian macroeconomic climate, including ruble volatility, currency controls, higher interest rates and inflation, potential contraction in consumer spending and the withdrawal of foreign businesses and suppliers. It has also highlighted constraints on international settlement systems affecting trading in rubles and in securities of Russian businesses, and the resulting limitations on liquidity for its shares on the Moscow Exchange.

At the same time, Yandex has stated in multiple releases that neither Yandex N.V. nor its group companies were targets of sanctions in the United States, European Union, Switzerland or United Kingdom, and that the group was not owned or controlled by persons designated under such sanctions. The company has repeatedly indicated that it continues to monitor sanctions and export control developments and to assess contingency plans.

Business segments and operational metrics

Yandex’s segment reporting provides insight into how it organizes its operations. The Search and Portal segment includes search and related services such as Geo, Yandex 360, Weather, News (until its deconsolidation), Travel (before its transfer to the Classifieds segment), the Alice voice assistant and other services in Russia, Belarus and Kazakhstan. The company reports metrics such as share of the Russian search market (including mobile), search share on Android and iOS, mobile search traffic as a percentage of total search traffic and the share of search revenues from mobile.

The E-commerce, Mobility and Delivery segment covers mobility (ride-hailing, car-sharing and scooters), e-commerce (Yandex Market, Yandex Lavka, grocery delivery through Yandex Eats and Delivery Club) and other O2O services (Yandex Delivery, Yandex Eats and Delivery Club food delivery, Lavka Israel, Yandex Fuel and other experiments). Yandex discloses gross merchandise value (GMV) metrics for mobility, e-commerce and other O2O services, along with marketplace metrics such as assortment (SKUs), active buyers and active sellers for Yandex Market, and the share of GMV sold by third-party sellers.

Yandex also reports on Plus and Entertainment Services, including the number of Yandex Plus subscribers, and on other business units and initiatives. Across its segments, the company presents adjusted EBITDA, adjusted net income and ex-TAC revenues as non-GAAP measures, with reconciliations to the most directly comparable U.S. GAAP measures in its financial releases.

Capital structure and financing

Yandex has issued 0.75% Convertible Notes due 2025 and has provided detailed updates on repurchases and cancellations of these notes. The company reports that it purchased and cancelled a substantial majority of the aggregate principal amount of the notes and has addressed constraints on redemptions and interest payments due to sanctions-related restrictions in clearing systems. Yandex has stated that it remains committed to satisfying its obligations on remaining notes and has available resources to do so, while asking holders of outstanding notes to contact the company.

In addition, Nebius Group N.V. filings describe a large-scale commercial agreement involving GPU infrastructure capacity, with contract value and conditions tied to deployment and availability of services. These disclosures indicate that the transformed entity associated with the YNDX registration continues to engage in capital-intensive technology infrastructure projects and to use long-term commercial contracts as part of its financing and growth strategy.

Corporate governance and shareholder matters

Yandex N.V. has reported on its annual general meetings of shareholders, including voting results on proposals such as discharge of directors, re-appointment of non-executive board members, cancellation of Class C shares, appointment of auditors, authorizations for the Board to issue Class A shares and exclude pre-emptive rights, and share repurchase authorizations. These disclosures also describe the company’s dual-class share structure, with Class A shares carrying one vote and Class B shares carrying ten votes.

Nebius Group N.V. continues this pattern of governance-related reporting, filing notices and explanatory materials for its own annual general meetings, results of shareholder votes and proposed amendments to its articles. The continuity of Exchange Act reporting across the name change underscores that the YNDX registration now documents the history and ongoing activities of Nebius Group N.V., following the strategic restructuring initiated under Yandex N.V.

How investors can use the YNDX overview

For investors and analysts, the YNDX overview page on Stock Titan serves as a reference point for the historical Yandex N.V. business and the subsequent transformation into Nebius Group N.V.. Earlier disclosures provide context on Yandex’s search, advertising, e-commerce, mobility, delivery and entertainment businesses, while more recent SEC filings describe Nebius Group N.V.’s focus, governance and material commercial agreements. Together, these sources allow users to trace how the company’s strategy, structure and regulatory status have evolved over time.