CoreWeave's Q3 2026 revenue rose 168% year over year to $3.66 billion, yet the company posted a net loss of $709 million. It raised its full-year revenue guidance, while The Motley Fool notes it continues to burn cash and its debt continues to grow.
CoreWeave, an AI cloud infrastructure company, reported 168% year-over-year revenue growth to $3.66 billion for the third quarter of 2026. It posted a net loss of $709 million and holds approximately $46.9 billion in debt, according to Crypto Briefing.
The company plans to finance further expansion through customer-linked loans rather than unsecured debt, aiming to mitigate the risks of ongoing construction at its sites.
Revenue beats consensus and guidance rises
Revenue grew from $1.37 billion a year ago to $3.66 billion, ahead of the $3.55 billion analyst consensus compiled by LSEG, The Motley Fool reports. CoreWeave also raised its full-year revenue guidance to a range of $13 billion to $13.3 billion, from a previous range of $12.4 billion to $13.2 billion.
Meanwhile, the company's backlog rose 138% year over year to a record $132.5 billion. Adjusted EBITDA climbed from $838 million a year earlier to $2.26 billion.
Cash burn continues as debt costs fall
CoreWeave reduced its cost of debt by 250 basis points to 7.9%, according to The Motley Fool. It expects $9 billion in customer prepayments within the next three months.
However, free cash flow was negative $7.5 billion for the quarter. The Motley Fool also says CoreWeave ended the quarter with $67.4 billion in debt as of Sept. 30, a figure that differs from the $46.9 billion Crypto Briefing cites.
Shares fall after the report
CoreWeave stock closed at $53.13, down 6.13% on Nov. 13. Going into the report, shares were down 32% year-to-date and 65% from their 52-week high.
Motley Fool analyst Geoffrey Seiler wrote: "I wouldn't be chasing the rally in CoreWeave or any other neoclouds".
Sources: Crypto Briefing, The Motley Fool
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