Companies /Technology

CoreWeave, Inc. Class A Common Stock

NASDAQ: CRWV Software - Infrastructure
$89.36
▲ $4.80 (+5.68%) today
Markets open · 4:16pm ET

Q2 2026 Earnings

Reported Aug 11, 2026, 4:10pm ET · SEC source
$-1.14
Beat +21.22%
EPS · est. $-1.45 GAAP

Includes $125 million net other income (primarily unrealized gain on investments), $165 million stock-based compensation, $1 million acquisition-related costs, $11 million amortization of acquired intangibles. No adjusted/non-GAAP per-share figure was disclosed.

$2.6B
Beat +0.77%
Revenue · est. $2.6B
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−8%0+8%+16%Aug 11Aug 12report 4:10pm ETearnings+0.2%+13.0%
−8%0+8%+16%Aug 11Aug 12earnings+0.2%+13.0%
CRWV +13.0%S&P 500 +0.2%
−7%0+7%+14%Aug 11Aug 12report 4:10pm ETearnings+0.6%+13.0%
−7%0+7%+14%Aug 11Aug 12earnings+0.6%+13.0%
CRWV +13.0%NASDAQ +0.6%
−8%0+8%Aug 10Aug 19report 4:10pm ETearnings−0.2%−8.8%
−8%0+8%Aug 10Aug 19earnings−0.2%−8.8%
CRWV −8.8%S&P 500 −0.2%
−8%0+8%Aug 10Aug 19report 4:10pm ETearnings−0.2%−8.8%
−8%0+8%Aug 10Aug 19earnings−0.2%−8.8%
CRWV −8.8%NASDAQ −0.2%
+19.28%
Day of report
−1.34%
Next session
−15.65%
One week

Did CRWV Beat Earnings? Q2 2026 Results

CoreWeave delivered a strong second-quarter beat on both the top and bottom lines, with the GPU cloud provider reporting Q2 2026 revenue of $2.58 billion, up 112.3% from a year ago and just ahead of the $2.56 billion consensus estimate. The bigger surprise came on the earnings line: GAAP diluted net loss of $1.14 per share, which includes $125 million in net other income from unrealized investment gains, $165 million in stock-based compensation, $11 million in amortization of acquired intangibles, and $1 million in acquisition-related costs, beat the $1.45 loss per share consensus by 21.22%. The primary engine behind the revenue surge was CoreWeave's aggressive expansion of GPU-powered cloud infrastructure, with technology and infrastructure expenses climbing to $1.51 billion from $670 million a year earlier as the company raced to meet AI workload demand. Operating cash flow turned positive at $679 million, a meaningful shift from negative $251 million a year ago, though capital expenditures of $6.42 billion kept free cash flow deeply negative. With a revenue backlog of approximately $104 billion and more than $25 billion in net new customer commitments added in early Q3, the company's forward demand picture remains substantial, even as investors weigh its heavy debt load and ongoing capital intensity.

Key Takeaways
  • Revenue more than doubled year-over-year driven by accelerating customer demand for AI infrastructure
  • Revenue backlog reached approximately $104 billion
  • Operating cash flow turned positive at $679 million vs negative $251 million in Q2 2025
  • Adjusted EBITDA doubled to $1,510 million with 59% margin
  • Active power expanded by nearly 500 MW to reach 1.5 GW

“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.”

CRWV CEO, on the earnings call

Forward Guidance & Outlook

CoreWeave stated it would provide forward-looking guidance on its earnings conference call and webcast. Revenue backlog was approximately $104 billion as of June 30, 2026, with more than $25 billion of net new customer commitments added in early Q3 2026, not included in the backlog figure.

CRWV YoY Financials

Q2 2026 vs Q2 2025 · SEC filings Q2 2025 Q2 2026
$0$800.0M$1.6B$2.4B$1.2B$2.6BRevenue$900.1M$1.7BGross Profit
$0$800.0M$1.6B$2.4BRevenueGross Profit

Figures from SEC filings and company reports. Not investment advice.