Jun 2026 (Q2 FY26) — Aug 11, 2026
CoreWeave Q2 FY26 — Record Revenue and Expanding Margins Driven by AI Demand
Read the full callCoreWeave (CRWV) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
CoreWeave earnings: last reported Tue, 11 Aug 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 | 2,575 | +112.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | -1.9 | −3.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -626 | 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
21 of 22 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Bringing NVIDIA's Rubin GPU platform to market | one of the first to bring NVIDIA's new Rubin GPU platform to market in the second half of 2026 | Dec 2025 | In Q2, we became the first cloud provider to bring up and validate NVIDIA's Vera Rubin NVL72 | Achieved |
| Quarterly capital expenditures | $7 billion to $9 billion | Mar 2026 | CapEx in Q2 totaled $9.4 billion, slightly above the high end of our guided range. | Missed |
| Active power deployed at year-end | more than 1.7 gigawatts | Dec 2025 | we now expect to end the year with more than 1.85 gigawatts of active power, up from our previous guidance of more than 1.7 gigawatts | Revised Up |
1 of CoreWeave, Inc.'s 43 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 40 more targets are in the full ledger.
Claimed
- Generated record revenue of $2.6 billion, up 112% year-over-year.
- Increased revenue backlog to $104.2 billion, with an additional $25 billion in net new customer commitments in early Q3.
- Reached 1.5 gigawatts of active power, adding nearly 500 megawatts in Q2, the most in company history.
- Adjusted operating income grew to $128 million, with margins expanding meaningfully.
- Managed inference platform booked ARR grew from $1 million to over $100 million in a single quarter.
Qualified
- Reported a net loss of $626 million for Q2, compared to $290 million in Q2 FY25.
- Interest expense for Q2 was $640 million, significantly up from $267 million in Q2 FY25 due to increased debt.
- Capital expenditures in Q2 totaled $9.4 billion, slightly above the guided range due to accelerated customer deliveries.
Price
$61.12 −0.44% · −$0.27
Performance −55.3% 1Y
1Y: $136.87 on 17 Oct 2025 → $61.12. High $139.93 (29 Oct 2025), low $60.82 (29 Jul 2026).
- Previous close
- $61.39
- 52-week range
- $60.82 – $139.93
- One year
- −51.90%
Overview
- Symbol
- CRWV
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
21 of 22 judged targets kept · 21 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Bringing NVIDIA's Rubin GPU platform to market | one of the first to bring NVIDIA's new Rubin GPU platform to market in the second half of 2026 | Dec 2025 | In Q2, we became the first cloud provider to bring up and validate NVIDIA's Vera Rubin NVL72 | Achieved |
| Quarterly capital expenditures | $7 billion to $9 billion | Mar 2026 | CapEx in Q2 totaled $9.4 billion, slightly above the high end of our guided range. | Missed |
| Active power deployed at year-end | more than 1.7 gigawatts | Dec 2025 | we now expect to end the year with more than 1.85 gigawatts of active power, up from our previous guidance of more than 1.7 gigawatts | Revised Up |
Claimed
- Generated record revenue of $2.6 billion, up 112% year-over-year.
- Increased revenue backlog to $104.2 billion, with an additional $25 billion in net new customer commitments in early Q3.
- Reached 1.5 gigawatts of active power, adding nearly 500 megawatts in Q2, the most in company history.
- Adjusted operating income grew to $128 million, with margins expanding meaningfully.
- Managed inference platform booked ARR grew from $1 million to over $100 million in a single quarter.
Qualified
- Reported a net loss of $626 million for Q2, compared to $290 million in Q2 FY25.
- Interest expense for Q2 was $640 million, significantly up from $267 million in Q2 FY25 due to increased debt.
- Capital expenditures in Q2 totaled $9.4 billion, slightly above the guided range due to accelerated customer deliveries.
The full ledger
Open CoreWeave, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 43 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
CoreWeave Q1 FY26 — Record $40B+ bookings drive backlog to nearly $100B as active power crosses 1 GW
Read the full callDec 2025 (Q4 FY25) — Feb 26, 2026
CoreWeave Q4 FY25 — Record Revenue and Backlog Drive Aggressive Capacity Expansion
Read the full callEvery analysed call
CoreWeave earnings calls (CRWV)
Financials
What the filings say
Net profit, year on year: −116% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 584 | 747 | 982 | 1,212 | 1,365 | 1,572 | 2,078 | 2,575 |
| Expenses | 467 | 635 | 1,009 | 1,193 | 1,313 | 1,661 | 2,222 | 2,624 |
| Operating profit | 117 | 112 | -27 | 19 | 52 | -90 | -144 | -49 |
| Operating margin | 20.1% | 15.0% | −2.8% | 1.6% | 3.8% | −5.7% | −6.9% | −1.9% |
| Profit before tax | -318 | -29 | -269 | -242 | -237 | -467 | -656 | -564 |
| Tax rate | −13.1% | −74.8% | −17.1% | −19.8% | 53.5% | 3.2% | −12.8% | −11.0% |
| Net profit | -360 | -51 | -315 | -290 | -110 | -452 | -740 | -626 |
| EPS ($ per share) | -1.82 | — | -1.40 | -0.60 | -0.22 | — | -1.40 | -1.14 |
| Line item | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Reserves | — | -1,476 | -2,643 |
| Total liabilities | — | 16,525 | 45,967 |
| Fixed assets | — | 11,915 | 30,557 |
| Investments | — | 0 | 34 |
| Total assets | — | 17,833 | 49,302 |
| Line item | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|
| Cash from operations | 1,833 | 2,749 | 3,058 |
| Cash from investing | -3,148 | -8,658 | -10,271 |
| Cash from financing | 1,788 | 7,464 | 9,308 |
| Net cash flow | 473 | 1,555 | 2,095 |
| Capital expenditure | -2,943 | -8,702 | -10,309 |
| Free cash flow | -1,110 | -5,953 | -7,251 |
CRWV operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Data centers | 33Today, we benefit from a network of 33 purpose-built AI data centers across the US and Europe, supported by 420 megawatts of active power.Source: earnings call transcript | — | — | 43We ended the year with more than 850 megawatts of active power, adding approximately 260 megawatts in the fourth quarter alone across 43 active data centers, up from 32 at the start of the year.Source: earnings call transcript | <50We have navigated this complexity across close to 50 data centers, consistently delivering best-in-class dock to live times for customers.Source: earnings call transcript | — | — |
| Active power | 420 MWToday, we benefit from a network of 33 purpose-built AI data centers across the US and Europe, supported by 420 megawatts of active power.Source: earnings call transcript | <470 MWTo that end, we ended the quarter with nearly 470 megawatts of active power, and we increased total contracted power approximately 600 megawatts to 2.2 gigawatts.Source: earnings call transcript | ~590 MWWe expanded our active power footprint by 120 megawatts sequentially to approximately 590 megawatts, while growing our contracted power capacity over 600 megawatts to 2.9 gigawatts.Source: earnings call transcript | — | — | — | — |
| Total contracted power | ~1.6 GWOur total contracted power extends to approximately 1.6 gigawatts, providing us with a durable multiyear runway in power capacity.Source: earnings call transcript | 2.2 GWTo that end, we ended the quarter with nearly 470 megawatts of active power, and we increased total contracted power approximately 600 megawatts to 2.2 gigawatts.Source: earnings call transcript | 2.9 GWWe expanded our active power footprint by 120 megawatts sequentially to approximately 590 megawatts, while growing our contracted power capacity over 600 megawatts to 2.9 gigawatts.Source: earnings call transcript | 3.1 GW+We contracted close to 2 gigawatts of additional power in 2025, ending the year with more than 3.1 gigawatts of contracted capacity, virtually all of which we expect to come online by the end of 2027.Source: earnings call transcript | 3.5 GW+Three, we have reached hyperscale with more than 3.5 gigawatts of contracted power, up more than 400 megawatts this quarter alone, with the substantial majority expected to be online by the end of 2027.Source: earnings call transcript | 3.7 GWContracted power grew to 3.7 gigawatts in Q2, and since quarter end, we have added roughly 500 megawatts, bringing contracted power to 4.2 gigawatts as of today.Source: earnings call transcript | — |
| Incremental contracted power | ~300 MWIn Q1, we added approximately 300 megawatts of incremental contracted power to our portfolio.Source: earnings call transcript | ~600 MWTo that end, we ended the quarter with nearly 470 megawatts of active power, and we increased total contracted power approximately 600 megawatts to 2.2 gigawatts.Source: earnings call transcript | — | — | 400 MW+Three, we have reached hyperscale with more than 3.5 gigawatts of contracted power, up more than 400 megawatts this quarter alone, with the substantial majority expected to be online by the end of 2027.Source: earnings call transcript | — | — |
| Active power | — | — | — | — | 1 GW+We generated approximately $2.1 billion of revenue, up 32% quarter-over-quarter and 112% year-over-year, and surpassed 1 gigawatt of active power.Source: earnings call transcript | 1.5 GWWe continue to execute on our power strategy, reaching 1.5 gigawatts of active power, adding nearly 500 megawatts, more than any quarter in our history and more than tripling year-over-year.Source: earnings call transcript | — |
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
3988 filings between Oct 20, 2025 and Oct 13, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$5.89B
3515 sales by 12 insiders
73% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 5
- Award — granted as compensation
- 107
- Option exercise — converted options into shares
- 1
- Tax withheld — shares kept back by the company to cover tax
Also filed: 290 conversions, 60 other filings, 5 gifts, 5 option exercises.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Magnetar Financial LLC | — | $2.96B | Aug 14, 2026 |
| Venturo Brian M | — | $1.04B | Sep 30, 2026 |
| Intrator Michael N | — | $916.29M | Sep 30, 2026 |
| McBee Brannin | — | $649.23M | Sep 30, 2026 |
| Cogen Jack D | — | $214.02M | May 29, 2026 |
| Agrawal Nitin | — | $51.25M | Oct 12, 2026 |
| McVeety Kristen J | — | $23.81M | Sep 30, 2026 |
| Goldberg Chen | — | $18.49M | Sep 30, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 13, 2026 | Jones Jonathan Chief Revenue Officer | Sale 10b5-1 plan | 5,969 | $465.1K |
| Oct 13, 2026 | Jones Jonathan Chief Revenue Officer | Sale 10b5-1 plan | 15,100 | $1.17M |
| Oct 13, 2026 | Jones Jonathan Chief Revenue Officer | Sale 10b5-1 plan | 500 | $39.4K |
| Oct 12, 2026 | Jones Jonathan Chief Revenue Officer | Sale 10b5-1 plan | 15,811 | $1.27M |
| Oct 12, 2026 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 7,191 | $578.9K |
| Oct 12, 2026 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 15,388 | $1.23M |
| Oct 11, 2026 | Jones Jonathan Chief Revenue Officer | Option exercise 10b5-1 plan | 42,772 | — |
| Oct 6, 2026 | Boone Karen Director | Option exercise | 1,460 | — |
| Oct 6, 2026 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 3 | $266 |
| Sep 30, 2026 | Venturo Brian M Chief Strategy Officer | Sale | 65,616 | $5.75M |
| Sep 30, 2026 | McVeety Kristen J GC and Secretary | Sale | 5 | $438 |
| Sep 30, 2026 | Jain Sachin Chief Operating Officer | Sale | 4 | $351 |
| Sep 30, 2026 | McBee Brannin Chief Development Officer | Sale | 56,531 | $4.96M |
| Sep 30, 2026 | Venturo Brian M Chief Strategy Officer | Option exercise | 17,391 | — |
| Sep 30, 2026 | Intrator Michael N CEO and President | Sale | 78,552 | $6.89M |
| Sep 30, 2026 | Agrawal Nitin Chief Financial Officer | Option exercise | 8 | — |
| Sep 30, 2026 | Jain Sachin Chief Operating Officer | Option exercise | 8 | — |
| Sep 30, 2026 | Venturo Brian M Chief Strategy Officer | Option exercise | 109,380 | — |
| Sep 30, 2026 | Baker Jeff Principal Accounting Officer | Option exercise | 8 | — |
| Sep 30, 2026 | Goldberg Chen EVP, Product & Engineering | Sale | 5 | $438 |
| Sep 30, 2026 | McBee Brannin Chief Development Officer | Option exercise | 11,739 | — |
| Sep 30, 2026 | Goldberg Chen EVP, Product & Engineering | Option exercise | 8 | — |
| Sep 30, 2026 | McBee Brannin Chief Development Officer | Option exercise | 109,380 | — |
| Sep 30, 2026 | Agrawal Nitin Chief Financial Officer | Sale | 5 | $438 |
| Sep 30, 2026 | Baker Jeff Principal Accounting Officer | Sale | 5 | $438 |
| Sep 30, 2026 | McVeety Kristen J GC and Secretary | Option exercise | 8 | — |
| Sep 30, 2026 | Intrator Michael N CEO and President | Option exercise | 30,978 | — |
| Sep 30, 2026 | Intrator Michael N CEO and President | Option exercise | 109,380 | — |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 595 | $53.7K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 6,491 | $583.0K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 6,847 | $600.1K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 39,883 | $3.45M |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 5,773 | $512.2K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 1,105 | $99.7K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 12,054 | $1.08M |
| Sep 29, 2026 | Intrator Michael N CEO and President | Conversion 10b5-1 plan | 107,692 | — |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 12,712 | $1.11M |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 48,103 | $4.13M |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 10,719 | $951.0K |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 89,338 | $7.67M |
| Sep 29, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 74,072 | $6.41M |
| Sep 22, 2026 | Agrawal Nitin Chief Financial Officer | Sale 10b5-1 plan | 25,772 | $2.23M |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 33,114 | $2.89M |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 13,154 | $1.16M |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 1,890 | $168.1K |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 47,025 | $4.06M |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 3,511 | $312.3K |
| Sep 22, 2026 | Intrator Michael N CEO and President | Conversion 10b5-1 plan | 107,692 | — |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 12,509 | $1.07M |
| Sep 22, 2026 | Intrator Michael N CEO and President | Sale 10b5-1 plan | 87,341 | $7.55M |
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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