| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 3.80 | 645.1% | 3700.0% |
| Total Income | 3.80 | 645.1% | 3700.0% |
| Expenditure | 19.02 | 254.8% | 466.1% |
| PBT | -12.75 | 154.5% | |
| Net Profit | -12.77 | 154.9% | 295.4% |
| OPM | — | ||
| NPM | — | ||
| EPS | -5.12 | 63.6% | 1148.8% |
Corvex Reports Q2 2026 Results and Provides Business Update
15 Aug 2026 · 15 Aug, 2:06 am
Summary
Corvex, Inc. announced its financial results for the second quarter ended June 30, 2026, which marks its first full reporting period including the AI cloud computing business post-merger. Total revenue for the quarter was $3.8 million, with $4.3 million for the six-month period. The company reported a net loss attributable to common stockholders of $(12.8) million for the quarter. Deferred revenue significantly increased to $3.7 million, reflecting contracted AI compute capacity. Management highlighted the focus on inputs for growth, including securing power, hardware, and customers, alongside the launch of Corvex Token Factory in closed alpha.
Key Highlights
- 1
Corvex reported total revenue of $3.8 million for the second quarter ended June 30, 2026.
- 2
Revenue for the six months ended June 30, 2026 was $4.3 million.
- 3
Deferred revenue, including current and non-current portions, was $3.7 million at June 30, 2026, up from $12,000 at December 31, 2025.
- 4
Net loss attributable to common stockholders for the second quarter was $(12.8) million, or $(5.12) per share.
- 5
Adjusted EBITDA was $(3.2) million for the second quarter and $(4.8) million for the six months ended June 30, 2026.
- 6
Contracted annualized revenue on live compute was approximately $22 million as of August 14, 2026.
- 7
Corvex Token Factory version 1 is now live in closed alpha, with version 2 planning completed.
Management Comments
Jay Crystal
Q2 is our first full reporting period with the AI infrastructure business, and reported revenue reflects when contracted capacity becomes live and is accepted by customers. We recognized $3.8 million of revenue in the quarter, while contracted annualized recurring revenue on live compute is approximately $22 million as of today. We spent the quarter focused on the inputs that drive the next stage of growth: securing power, hardware, capital and creditworthy customers, and on bringing them together quickly while maintaining disciplined project-level underwriting. At the same time, Corvex Token Factory is now live in closed alpha, and we have strengthened our operating, financing and governance bench as we scale.
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