Jun 2026 (Q2 FY26) — Jul 28, 2026
Core Scientific Q2 FY26 — Transformational AMD Partnership and Capacity Expansion
Read the full callCore Scientific (CORZ) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Core Scientific earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 164 | +108.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -47.8 | −14.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -1,155 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
15 of 20 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Denton South campus full completion | full campus completion by midyear 2026, remaining buildings energized in Q2 | Dec 2025 | we expected to substantially complete 4 of the 5 4-week campuses before the end of the summer. We achieved that milestone ahead of schedule, reaching 437 billable megawatts | Achieved |
| Auburn, Alabama first 10 MW delivery | first 10 megawatts in the second half of 2026 | Dec 2025 | The remaining AMD campuses, Hunt, Auburn, Muskogee and Dalton Phase III we're also progressing through design, procurement, site preparation and construction with deliveries beginning in 2027 and ramping through the end of 2028. | Delayed |
| Close the Hunt County, Texas site acquisition | close by the end of Q1 2026 | Dec 2025 | approximately $700 million for both the Hunt County, Texas site acquisition, which closed yesterday | Missed |
5 of Core Scientific, Inc./tx's 48 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 45 more targets are in the full ledger.
Claimed
- Secured a commercial partnership with AMD for up to 2.5 gigawatts of data center capacity, including an initial 530 megawatts of contracted capacity.
- The initial AMD agreement represents over $14 billion of base contracted revenue across 15-year agreements with 2.5% annual escalators.
- Total contracted billable capacity now stands at approximately 1.1 gigawatts, representing over $24 billion of base contracted revenue.
- Achieved 437 billable megawatts ahead of schedule, demonstrating strong execution capabilities.
- Ended Q2 FY26 with approximately $1.8 billion of liquidity, providing a strong foundation for future growth.
Qualified
- Cash SG&A increased sequentially to $36 million in Q2 FY26, primarily due to one-time professional fees.
- Build costs for high-density AI infrastructure are estimated at $11 million to $12 million per megawatt, driven by equipment and labor cost increases.
- Uncertainty related to timing of on-grid power for Pecos (300 MW) means behind-the-meter strategy will drive next megawatts.
Price
$13.73 +1.85% · +$0.25
Performance −27.7% 1Y
1Y: $19 on 17 Oct 2025 → $13.73. High $29.16 (18 Jun 2026), low $13.48 (16 Oct 2026).
- Previous close
- $13.48
- 52-week range
- $13.48 – $29.16
- One year
- −27.01%
Overview
- Symbol
- CORZ
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
15 of 20 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Denton South campus full completion | full campus completion by midyear 2026, remaining buildings energized in Q2 | Dec 2025 | we expected to substantially complete 4 of the 5 4-week campuses before the end of the summer. We achieved that milestone ahead of schedule, reaching 437 billable megawatts | Achieved |
| Auburn, Alabama first 10 MW delivery | first 10 megawatts in the second half of 2026 | Dec 2025 | The remaining AMD campuses, Hunt, Auburn, Muskogee and Dalton Phase III we're also progressing through design, procurement, site preparation and construction with deliveries beginning in 2027 and ramping through the end of 2028. | Delayed |
| Close the Hunt County, Texas site acquisition | close by the end of Q1 2026 | Dec 2025 | approximately $700 million for both the Hunt County, Texas site acquisition, which closed yesterday | Missed |
Claimed
- Secured a commercial partnership with AMD for up to 2.5 gigawatts of data center capacity, including an initial 530 megawatts of contracted capacity.
- The initial AMD agreement represents over $14 billion of base contracted revenue across 15-year agreements with 2.5% annual escalators.
- Total contracted billable capacity now stands at approximately 1.1 gigawatts, representing over $24 billion of base contracted revenue.
- Achieved 437 billable megawatts ahead of schedule, demonstrating strong execution capabilities.
- Ended Q2 FY26 with approximately $1.8 billion of liquidity, providing a strong foundation for future growth.
Qualified
- Cash SG&A increased sequentially to $36 million in Q2 FY26, primarily due to one-time professional fees.
- Build costs for high-density AI infrastructure are estimated at $11 million to $12 million per megawatt, driven by equipment and labor cost increases.
- Uncertainty related to timing of on-grid power for Pecos (300 MW) means behind-the-meter strategy will drive next megawatts.
The full ledger
Open Core Scientific, Inc./tx’s full ledger
A free account opens 5 company ledgers a month. All 48 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
Core Scientific Q1 FY26 — AI Infrastructure Expansion and $3.3B Financing
Read the full callDec 2025 (Q4 FY25) — Mar 2, 2026
Core Scientific Q4 FY25 — AI Factory Execution and Pipeline Expansion
Read the full callEvery analysed call
Core Scientific earnings calls (CORZ)
Financials
What the filings say
Net profit, year on year: −23% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 95 | 95 | 80 | 79 | 81 | 80 | 115 | 164 |
| Operating profit | -41 | -65 | -47 | -26 | -55 | -117 | -310 | -78 |
| Operating margin | −43.2% | −68.9% | −59.1% | −33.4% | −67.6% | −147.3% | −269.4% | −47.8% |
| Other income | -414 | -225 | 623 | -910 | -89 | 334 | -36 | -1,075 |
| Profit before tax | -455 | -291 | 576 | -937 | -144 | 216 | -347 | -1,153 |
| Tax rate | −0.0% | −0.1% | 0.0% | −0.0% | −0.1% | 0.0% | −0.2% | −0.2% |
| Net profit | -455 | -291 | 576 | -937 | -144 | 216 | -347 | -1,155 |
| EPS ($ per share) | -1.17 | -0.69 | 1.42 | -0.04 | -0.45 | — | -1.06 | -3.32 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Equity capital | — | 0 | 0 | 0 | 0 | 0 |
| Reserves | -0 | -27 | -2,174 | -2,420 | -3,858 | -4,147 |
| Total liabilities | 0 | 1,053 | 1,217 | 1,309 | 2,419 | 3,310 |
| Fixed assets | — | 597 | 691 | 585 | 433 | 1,293 |
| Total assets | 0 | 2,439 | 808 | 712 | 1,476 | 2,348 |
| Line item | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | -24 | -57 | 205 | 65 | 43 | 278 |
| Cash from investing | -15 | -424 | -591 | -3 | -95 | -741 |
| Cash from financing | 41 | 604 | 306 | -45 | 820 | -63 |
| Net cash flow | 2 | 123 | -79 | 17 | 767 | -526 |
| Capital expenditure | 0 | 0 | -384 | -16 | -95 | -729 |
| Free cash flow | -24 | -57 | -179 | 49 | -52 | -451 |
CORZ revenue by segment
Digital Asset Self Mining shrank from 78% to 13% of revenue over the last two years.
| Segment | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Colocation | — | — | 11% | 13% | 18% | 39% | 67% | 83% | +1194.2% |
| Digital Asset Self Mining | 78% | 71% | 84% | 79% | 71% | 53% | 26% | 13% | -65.5% |
| Digital Asset Hosted Mining | 18% | 18% | 5% | 7% | 11% | 8% | 7% | 4% | +6.3% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
CORZ operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Billable capacity | 243 MWToday, I am pleased to announce that we have delivered 243 megawatts of billable capacity to CoreWeave.Source: earnings call transcript | 437 MWA, we are pleased to announce we are ahead of schedule and currently billing for 437 megawatts of capacity.Source: earnings call transcript | +79.8% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
82 filings between Nov 4, 2025 and Oct 12, 2026.
Open market
decisions to buy or sellPurchases
$551.5K
5 purchases by 2 insiders
Sales
$6.10M
46 sales by 1 insider
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 13
- Award — granted as compensation
- 17
- Tax withheld — shares kept back by the company to cover tax
Also filed: 1 gift.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DUCHENE TODD M | — | $6.10M | Oct 12, 2026 |
| Weiss Eric Stanton | $441.5K | — | Sep 15, 2026 |
| CRAIN ELIZABETH | $110.0K | — | Aug 20, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 12, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $151.2K |
| Oct 5, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $163.1K |
| Oct 1, 2026 | DUCHENE TODD M See remarks | Tax withheld | 8,228 | $131.5K |
| Oct 1, 2026 | Sullivan Adam Taylor Chief Executive Officer | Tax withheld | 23,508 | $375.7K |
| Sep 28, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $167.6K |
| Sep 21, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $183.7K |
| Sep 15, 2026 | Weiss Eric Stanton Director | Purchase | 6,000 | $98.0K |
| Sep 14, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $171.4K |
| Sep 8, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $186.7K |
| Aug 31, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $162.3K |
| Aug 24, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $174.5K |
| Aug 20, 2026 | CRAIN ELIZABETH Director | Purchase | 6,000 | $110.0K |
| Aug 18, 2026 | Weiss Eric Stanton Director | Purchase | 7,000 | $134.4K |
| Aug 17, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $201.0K |
| Aug 17, 2026 | DUCHENE TODD M See remarks | Tax withheld 10b5-1 plan | 11,205 | $225.6K |
| Aug 10, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,000 | $20.6K |
| Aug 10, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 9,000 | $179.1K |
| Aug 3, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 7,500 | $169.6K |
| Aug 3, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,500 | $32.3K |
| Aug 3, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,000 | $20.4K |
| Jul 30, 2026 | Adams Mark Director | Award | 27,594 | $0 |
| Jul 27, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 8,300 | $172.2K |
| Jul 27, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 100 | $2.2K |
| Jul 27, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,600 | $35.0K |
| Jul 20, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $223.0K |
| Jul 16, 2026 | Sullivan Adam Taylor Chief Executive Officer | Tax withheld | 15,584 | $354.1K |
| Jul 16, 2026 | DUCHENE TODD M See remarks | Tax withheld | 4,325 | $98.3K |
| Jul 13, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 9,700 | $217.6K |
| Jul 13, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 300 | $6.9K |
| Jul 6, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $226.3K |
| Jun 30, 2026 | Sullivan Adam Taylor Chief Executive Officer | Tax withheld | 18,023 | $461.2K |
| Jun 30, 2026 | DUCHENE TODD M See remarks | Tax withheld 10b5-1 plan | 5,469 | $140.0K |
| Jun 29, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 8,800 | $228.7K |
| Jun 29, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 100 | $2.8K |
| Jun 29, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,100 | $30.2K |
| Jun 22, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 7,600 | $221.2K |
| Jun 22, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 2,400 | $71.7K |
| Jun 15, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 100 | $2.9K |
| Jun 15, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 9,900 | $279.1K |
| Jun 8, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 4,500 | $122.0K |
| Jun 8, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 5,500 | $146.5K |
| Jun 1, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 1,300 | $35.0K |
| Jun 1, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 3,200 | $90.5K |
| Jun 1, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 5,500 | $158.2K |
| May 26, 2026 | Smith Stephen M Director | Award | 18,961 | $0 |
| May 26, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 10,000 | $262.5K |
| May 20, 2026 | DUCHENE TODD M See remarks | Award | 138,547 | $0 |
| May 20, 2026 | Nygaard James P Jr EVP, Chief Financial Officer | Award | 120,074 | $0 |
| May 18, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 400 | $9.5K |
| May 18, 2026 | DUCHENE TODD M See remarks | Sale 10b5-1 plan | 9,600 | $222.0K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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