CoreWeave reported $2.08 billion in first-quarter 2026 revenue and a $740 million net loss

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

CoreWeave, which sells access to cloud computing infrastructure optimized for AI, reported revenue of $2.08 billion for the quarter ended Mar 31, 2026, against $982 million in the same quarter a year earlier, an increase of 112%. The figures are in the 10-Q, the quarterly report a US-listed company files with the SEC, filed May 8, 2026. It recorded an operating loss of $144 million, against $27 million a year earlier, and a net loss of $740 million, against $315 million. Diluted net loss per share was $1.40, against $1.49 a year earlier, on 527 million weighted-average diluted shares against 249 million.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

The company said the growth came from more demand from existing and new customer contracts, met through a larger data center footprint, and that about 38% of the increase came from existing customers. Technology and infrastructure expense was $1.273 billion, up $712 million on the year, which the company attributed mainly to about $642 million more depreciation and amortization on equipment placed in service. Interest expense, net was $536 million, against $264 million, which the company put down to higher borrowing and debt. Cash paid for property and equipment was $7.7 billion, against $1.4 billion in the first quarter of 2025; the company said higher investment in its GPU fleet, networking equipment and servers drove the rise in cash used for investing.13^,14^,15^,16^,17^,18^,19^,20

In its earnings release of May 7, 2026, CoreWeave put its revenue backlog at $99.4 billion at Mar 31, 2026, a measure the company said includes remaining performance obligations plus other amounts it estimated would be recognized as revenue under committed customer contracts. The release listed a new $21 billion commitment from Meta signed in March and a multi-year agreement with Anthropic to support its Claude models, and said relationships with Cohere, Jane Street and Mistral had expanded. For the quarter, the company's own non-GAAP measures, which leave out items it chooses, were adjusted operating income of $21 million against $163 million, with stock-based compensation, acquisition-related costs and amortization of acquired intangibles added back, and adjusted EBITDA of $1.157 billion against $606 million.21^,22^,23^,24^,25^,26^,27^,28

In January 2026, CoreWeave agreed to sell about 23 million Class A shares to NVIDIA at $87.20 a share, for $2.0 billion in gross proceeds. In March 2026 a subsidiary signed an $8.5 billion delayed draw term loan facility, a loan drawn in stages, with MUFG Bank as administrative agent; $1.3 billion of it was outstanding at Mar 31, 2026. In April 2026, after the quarter closed, it completed a private offering of $4.0 billion of 1.75% convertible senior notes due 2032 and two private offerings totaling $2.8 billion of 9.75% senior notes due 2031.29^,30^,31^,32^,33^,34

Our records hold the 10-Q's management discussion and its 16 numbered notes, not its other exhibits, and cannot show whether its year-earlier figures were restated.35^,36