CoreWeave on Tuesday reported third-quarter revenue of $3.661 billion, compared with $1.365 billion a year earlier, and said it was raising its full-year 2026 revenue guidance to a range of $13.0 billion to $13.3 billion, according to a company release. In August, CoreWeave had guided to $12.4 billion to $13.2 billion in 2026 revenue, according to its second-quarter outlook presentation and CNBC.
The Livingston, New Jersey-based company posted a net loss of $709 million, or $1.27 per share, compared with a net loss of $110 million, or $0.22 per share, a year earlier. Operating income was $207 million, while interest expense, net, was $846 million. Reuters, citing data compiled by LSEG, said analysts’ average estimate for quarterly revenue was $3.55 billion.
CoreWeave said its revenue backlog was approximately $132.5 billion as of Sept. 30, 2026. The company defines that backlog as remaining performance obligations plus other amounts it estimates will be recognized as revenue in future periods under committed customer contracts, in each case subject to delivery and availability of service requirements.
Michael Intrator, CoreWeave’s co-founder, chairman and chief executive, said in the release that the company’s growth is supported by multiple sources of funding, “including financing backed by customer contracts, operating cash flow, and approximately $9 billion in customer prepayments and deposits expected in the next three months alone.”
CoreWeave also raised its full-year 2026 adjusted operating income guidance to $1.275 billion to $1.375 billion, which it said is a 26% increase at the midpoint from its prior guidance. The August outlook had put that range at $960 million to $1.15 billion. It raised the low end of its 2026 capital expenditures forecast to $37 billion to $39 billion, from $35 billion to $39 billion, saying it expects to deploy infrastructure and deliver it to customers sooner than planned. The company also raised its annualized run-rate revenue guidance to $20 billion to $21 billion to exit 2026, and said it continues to expect more than 1.85 gigawatts of active power at year-end. Active power now exceeds 1.7 gigawatts, the release said.