CoreWeave reported third-quarter revenue of $3.661 billion and a net loss of $709 million, or $1.27 a share, the AI cloud company said. CNBC reported revenue of $3.66 billion, up 168% from about $1.36 billion a year earlier, ahead of a $3.55 billion LSEG estimate, and said the net loss compared with a $110 million loss a year earlier.
Why it matters: CoreWeave raised its full-year 2026 revenue guidance to $13.0 billion to $13.3 billion and its adjusted operating-income guidance to $1.275 billion to $1.375 billion, a 26% increase at the midpoint from its prior range, the company said. CNBC said the August outlook had been $12.4 billion to $13.2 billion in revenue and $960 million to $1.15 billion in adjusted operating income. CoreWeave also said revenue backlog was about $132.5 billion as of Sept. 30, and that it now expects 2026 capital expenditures of $37 billion to $39 billion, raising the low end of a prior $35 billion to $39 billion range.
CNBC said CoreWeave’s stock has lost more than 40% of its value in the past month and that some of the company’s bond yields recently topped 16%. CEO Mike Intrator told analysts the company will get most of the capital it needs for 2027 through customer prepayments and financing from hardware partners, and will raise “a limited amount” as well, CNBC reported. Finance chief Nitin Agrawal said the company does not intend to issue additional parent-level unsecured debt through 2027 at current yields, and that he projects under $5 billion in parent-level debt financing through 2027.