CoreWeave Q3 Revenue Jumps 168% as Net Loss Widens to $709M
CoreWeave's third-quarter revenue surged 168% year over year to $3.66B, but net loss widened more than sixfold to $709M, driven by net interest expense climbing to $846M from $310M, exceeding the quarter's $379M adjusted operating income. The company borrows to pre-buy Nvidia GPUs ahead of rental income, burning $7.5B after capital spending, and ended the quarter with about $4.12B cash against nearly $47B debt, making further growth dependent on new borrowing or share sales. Contracted backlog rose to $132.5B and the 2026 revenue forecast was lifted to $13B-$13.3B.
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Rohan Paul (@rohanpaul_ai) · 2026-11-11 00
CoreWeave’s third-quarter revenue jumped 168% to $3.66B, but its net loss grew more than 6-fold to $709M.
Borrowing costs drove that loss: net interest expense rose to 310M, more than double the quarter’s $379M adjusted operating income.
Because the company borrows to buy Nvidia GPUs ahead of rental income, it burned $7.5B after capital spending, up from $1.6B a year earlier.
Contracted backlog still climbed to 104B in June, and the 2026 revenue forecast rose to between 13.3B.
The spending plan grew too, with full-year capex guidance now at 39B, up from 39B.
The quarter closed with about 47B of debt, so further growth depends on new borrowing or share sales.
Worries about that funding had cut the stock more than 40% over the past month, though shares rose about 6% after hours.
