CoreWeave revenue reaches $3.66 billion as it raises 2026 outlook

CoreWeave reported $3.661 billion in third-quarter 2026 revenue, up 168% from $1.365 billion a year earlier. The company also raised its full-year revenue forecast to $13.0 billion to $13.3 billion.

That growth came alongside a wider GAAP net loss and a heavier financing burden. CoreWeave posted a $709 million net loss, or $1.27 per diluted share, compared with a $110 million loss, or $0.22 per share, in the year-earlier quarter. Net interest expense rose to $846 million from $310 million.

At the operating level, the company recorded $207 million in GAAP operating income and a 6% margin, up from $52 million and 4% a year earlier, according to the results filed with the U.S. Securities and Exchange Commission. Revenue increased by $1.086 billion, or about 42%, from the second quarter.

Management now forecasts $37 billion to $39 billion in 2026 capital expenditures, raising the low end of its previous $35 billion-to-$39 billion range. The company attributed the change to an expectation that it will deploy and deliver infrastructure sooner than planned. CoreWeave calculated third-quarter capital expenditures at $14.511 billion, compared with $1.850 billion a year earlier, its earnings presentation shows.

Those spending and revenue targets remain management forecasts, not realized results. CoreWeave also expects fourth-quarter interest expense of $1.05 billion to $1.15 billion.

As of Sept. 30, CoreWeave reported approximately $132.5 billion in revenue backlog. That included $132.3 billion in remaining performance obligations and $200 million in other estimated future revenue under committed customer contracts. Recognition of the backlog remains subject to delivery and service availability.

CoreWeave also reported adjusted EBITDA of $2.256 billion and adjusted operating income of $379 million. Both are company-defined non-GAAP measures and are not substitutes for its GAAP results.