$CRWV · CoreWeave, Inc.
CoreWeave reported Q3 FY2026 results: revenue $3.661B vs $1.365B a year earlier, operating income $207M (6% margin), and net loss ($1.27/share) driven by $846M net interest expense. Adjusted EBITDA was $2.256B (62% margin). The company raised FY26 revenue guidance to $13.0B–$13.3B and adjusted operating income to $1.275B–$1.375B, with capex of $37B–$39B and exit run-rate revenue of $20B–$21B.
- Revenue rose to $3.661B from $1.365B year-over-year.
- Net loss widened to $709M, with net interest expense of $846M.
- Adjusted EBITDA reached $2.256B at a 62% margin.
- Revenue backlog was approximately $132.5B as of September 30, 2026.
- FY26 revenue guidance raised to $13.0B–$13.3B; capex raised to $37B–$39B.
Extended-hours last trade $51.01, up +4.68% vs the $48.73 regular close, signaling a positive initial reaction to the revenue beat and raised guidance despite the wider net loss.
CoreWeave's revenue nearly tripled year-over-year and it raised full-year guidance, but surging interest costs are deepening losses even as growth accelerates.
CoreWeave's triple-digit revenue growth and $132.5B backlog underscore hyperscaler-level AI infrastructure demand, though heavy interest expense reflects its debt-funded buildout.
Substantial indebtedness drove $846M in quarterly net interest expense, and Q4 interest expense is guided to $1.05B–$1.15B, pressuring profitability.