Quarterly ResultMay 7, 2026, 04:20 PM
CoreWeave Q1 Revenue $2.08B; Backlog $99.4B; Net Loss $(740)M
AI Summary
CoreWeave, Inc. reported strong financial results for the first quarter ended March 31, 2026, with record revenue and a significant increase in revenue backlog. The company achieved $2,078 million in revenue and a net loss of $(740) million, while Adjusted EBITDA grew to $1,157 million. CoreWeave secured an $8.5 billion delayed draw term loan facility and received a $2 billion investment from NVIDIA, reflecting confidence in its growth strategy. The company also announced major customer wins, including a $21 billion commitment from Meta and an agreement with Anthropic, further solidifying its position in AI infrastructure.
Key Highlights
- Revenue backlog reached $99.4 billion as of March 31, 2026.
- Q1 2026 revenue was $2,078 million, up from $982 million in Q1 2025.
- Q1 2026 net loss was $(740) million, compared to $(315) million in Q1 2025.
- Q1 2026 Adjusted EBITDA was $1,157 million, up from $606 million in Q1 2025.
- Secured an $8.5 billion DDTL 4.0 Facility with a floating rate of SOFR + 2.25% and a fixed rate of approximately 5.9%.
- Closed a $2 billion Class A common stock investment from NVIDIA.
- Executed a new $21 billion commitment with Meta and signed a multi-year agreement with Anthropic.
- Surpassed 1 GW of active power and expanded total contracted power by over 400 MW to more than 3.5 GW.