CoreWeave's second-quarter 2026 revenue rose 112% to $2.58 billion, with a net loss of $626 million

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 capacity for AI work, filed its 10-Q, the quarterly report US-listed companies give the SEC, on Aug 12, 2026, for the quarter ended Jun 30, 2026. Revenue was $2.58 billion, up 112% from $1.21 billion in the same quarter a year earlier. Operating income was a loss of $49 million against income of $19 million a year earlier, and the net loss was $626 million, or $1.14 a share, against a loss of $290 million, or $0.60 a share.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12

CoreWeave said the growth came from more demand under existing and new contracts and from its larger data center base, with about 93% of the increase from existing customers. Cost of revenue rose $566 million, or 181%, as it expanded and added data centers, and technology and infrastructure expense rose $837 million, or 125%, with about $752 million of that from higher depreciation and amortization. Interest expense, net, was $640 million, up $373 million, or 140%, from $267 million; CoreWeave attributed the rise to higher borrowing and debt.13^,14^,15^,16^,17^,18

The net loss includes other income, net, of $125 million, against $6 million a year earlier. The filing attributes the change mainly to $109 million of net unrealized gains from fair-value adjustments to strategic investments and about $34 million of currency gains, partly offset by a loss of about $38 million on an equity-method stake in a joint venture. The notes say those strategic investments consist mainly of non-marketable stakes in privately held companies, carried at $315 million on Jun 30, 2026 against $117 million on Dec 31, 2025.19^,20^,21^,22^,23

On Jun 30, 2026 CoreWeave had $103.7 billion of remaining performance obligations, meaning contracted work not yet delivered, and said it expected to recognize 41% of it over the 24 months to Jun 30, 2028. Customers A, B and C accounted for 36%, 26% and 10% of the quarter's revenue; the filing says the letters may stand for different customers in other periods.24^,25^,26^,27

In its earnings release of Aug 11, 2026, CoreWeave also gave adjusted figures, its own non-GAAP measures that leave out items it chooses. Adjusted EBITDA, which adds back items such as depreciation, interest, stock-based pay and income taxes, was $1.51 billion against $753 million; adjusted operating income was $128 million against $200 million. Chief executive Michael Intrator said in the release that the quarter was an inflection point as scale began to translate into expanding operating leverage.28^,29^,30^,31^,32^,33

In the six months to Jun 30, 2026 CoreWeave paid $14.1 billion in cash for property and equipment, against $3.9 billion a year earlier. On Jun 30 it had $13.6 billion outstanding under delayed draw term loans, which the filing says are drawn as it builds infrastructure, and $16.6 billion in principal of notes.34^,35^,36^,37

Of this filing we hold the management discussion and the notes, not its other exhibits; for the quarter we hold revenue, operating income, net income and diluted earnings per share, and with one value kept for each period we cannot tell whether year-earlier figures were restated.38^,39^,40