CoreWeave Beats Q3 Estimates but Debt Weighs on Outlook

CoreWeave posted a third-quarter net loss of $709 million, or $1.27 per share. Excluding one-time gains and costs, its loss was $1 per share, narrower than the $1.16 per-share loss analysts had expected.

Revenue reached $3.66 billion, topping the $3.54 billion average estimate. The Livingston, New Jersey-based company forecast full-year revenue of $13 billion to $13.3 billion.

The results offered a stronger quarter, but the company still faces financial pressure. Its shares have fallen nearly 40% this year, and its roughly $41 billion in net debt remains a significant burden, even as the latest results beat forecasts.

Chief Executive Michael Intrator said CoreWeave would adjust investment to reflect demand, regulatory conditions and access to financing. He also said the company would stop using unsecured borrowing to fund its business.