CoreWeave Reports Strong Second Quarter 2026 Results

Record Second Quarter Revenue and Revenue Backlog Highlight Unprecedented Demand for CoreWeave CloudLIVINGSTON, N.J.--(BUSINESS WIRE)--CoreWeave, Inc. (Nasdaq: CRWV), The Essential Cloud for AI™, today reported financial results for the second quarter ended June 30, 2026. "CoreWeave reached an important inflection point this quarter as our scale began to translate into expanding operating leverage. Customer demand is accelerating, as enterprise adoption broadens and we continue to deepen our technology platform," said Michael Intrator, co-founder, chairman, and chief executive officer of CoreWeave. "CoreWeave is built on the conviction that AI is foundational to every industry and that realizing its full potential requires a purpose-built platform. This quarter reinforced that conviction." Second Quarter 2026 Financial Highlights (In millions, except percentages and per share amounts) Three Months Ended June 30, 2026 2025 Revenue $ 2,575 $ 1,212 Operating expenses 2,624 1,193 Operating income (loss) $ (49 ) $ 19 Operating income (loss) margin (2 )% 2 % Interest expense, net $ (640 ) $ (267 ) Net loss $ (626 ) $ (290 ) Net loss margin (24 )% (24 )% Basic net loss per share $ (1.14 ) $ (0.60 ) Diluted net loss per share $ (1.14 ) $ (0.60 ) Non-GAAP Financial Measures (In millions, except percentages) Three Months Ended June 30, 2026 2025 Adjusted EBITDA $ 1,510 $ 753 Adjusted EBITDA margin 59 % 62 % Adjusted operating income $ 128 $ 200 Adjusted operating income margin 5 % 16 % Adjusted net loss $ (567 ) $ (130 ) Adjusted net loss margin (22 )% (11 )% (See “Non-GAAP Financial Measures” and the reconciliation of GAAP to non-GAAP results table in this press release for additional information.) Additional Second Quarter 2026 Financial Highlights Revenue backlog1 was approximately $104 billion as of June 30, 2026. ______________ 1 Does not include more than $25 billion of net new customer commitments added in early Q3. Revenue backlog includes remaining performance obligations, plus other amounts we estimate will be recognized as revenue in future periods under committed customer contracts, in each case, subject to the satisfaction of delivery and availability of service requirements. Second Quarter 2026 Highlights Customer Wins across AI Labs, Hyperscalers, and Enterprises Partner of choice for leading enterprises and AI pioneers, including Bentley Systems, Caterpillar, Grammarly, Isomorphic Labs, and Sunday Robotics Expanded relationships with existing enterprise and AI native customers including Cognition, Databricks, Hudson River Trading, Periodic Labs, Rescale, and Runway ML Continued Rapid Scaling of Purpose-Built AI Infrastructure Expanded active power by nearly 500 MWs to reach 1.5 GW Grew total contracted power to approximately 3.7 GW while further diversifying portfolio of providers and expanding powered land footprint Key Technology Leadership Milestones Successfully completed industry's first bring-up and validation of NVIDIA Vera Rubin NVL72 Launched new capabilities to make it easy for enterprises to run AI workloads cross-cloud, allowing customers to balance performance, reliability, and cost across their AI cloud footprint through: CoreWeave Interconnect: offering private, high-performance fiber linking directly to other hyperscale platforms, beginning with Google Cloud SUNK Anywhere: enabling AI research and platform teams to leverage CoreWeave's leading SUNK platform across their AI cloud portfolio LOTA (Local Object Transport Accelerator) Cross-Cloud: providing near-local data access across clouds, backed by CoreWeave's Zero Egress Migration program Launched unified agentic AI capabilities that connect training, inference, observability, and reinforcement learning to empower agents to continuously learn and improve in production, including: CoreWeave ARIA (AI Research and Iteration Agent) that reads experiment data, uncovers hidden insights, and drives continuous model and agent improvement CoreWeave Sandboxes, the execution layer that gives AI researchers and platform teams secure, isolated environments for running reinforcement learning, agent tool use, and model evaluation Set new MLPerf records for training and inference with open-source models running on the NVIDIA Grace Blackwell platform, achieving the lowest cost per token for inference in test runs Strengthening Financial Position Milestone $3.1 billion term loan, the first ever publicly syndicated delayed draw facility backed by HPC infrastructure $1 billion strategic investment from Jane Street following the expansion of commercial relationship in Q1 2026 Raised more than $10 billion of unsecured debt and convertible bonds, including CoreWeave's inaugural Eurobond issuance Other Noteworthy Updates Selected for inclusion in the Nasdaq-100 Index, as one of the 100 largest non-financial companies listed on the Nasdaq Stock Market Business Outlook CoreWeave will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast. Webcast and Conference Call Information CoreWeave will host an audio webcast to discuss the results for the second quarter of 2026, provide a business update, and share forward-looking guidance at 2:00 pm PT / 5:00 pm ET today. The live webcast of CoreWeave’s earnings conference call can be accessed via the CoreWeave Investor Relations website at investors.coreweave.com, along with the earnings press release and accompanying presentation. Following the call, a replay will be available at the same website. A transcript of the conference call will be posted to the investors.coreweave.com website. Disclosure Information CoreWeave uses its investor relations page (investors.coreweave.com), its X account (@CoreWeave), and its LinkedIn page (linkedin.com/company/coreweave/) to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, in addition to following CoreWeave's press releases, Securities and Exchange Commission (SEC) filings, public conference calls and public webcasts. About CoreWeave CoreWeave is The Essential Cloud for AI™. Built for pioneers by pioneers, CoreWeave delivers a platform of technology, tools, and teams that enables innovators to move at the pace of innovation, building and scaling AI with confidence. Trusted by leading AI labs, startups, and global enterprises, CoreWeave serves as a force multiplier by combining superior infrastructure performance with deep technical expertise to accelerate breakthroughs. Established in 2017, CoreWeave completed its public listing on Nasdaq (CRWV) in March 2025. Learn more at www.coreweave.com. Forward-Looking StatementsRead the full story here

CoreWeave Reports Strong Second Quarter 2026 Results

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