CoreWeave shares fall on wider-than-expected loss, soft outlook
Published: 10:38 08 May 2026 EDT
CoreWeave (NASDAQ:CRWV) reported strong first quarter revenue growth that topped Wall Street expectations, but shares fell sharply as wider-than-expected losses and softer forward guidance weighed on sentiment.
Revenue for the quarter reached $2.08 billion, up 112% from $982 million a year earlier and ahead of analyst estimates of about $1.97 billion, driven by continued demand for its AI infrastructure and cloud computing services.
The company’s profitability came in weaker than expected. CoreWeave reported an adjusted loss per share of $1.40, compared with expectations for a loss of about $0.90 per share.
On a GAAP basis, net loss widened to $740 million from $315 million a year earlier, while operating loss increased to $144 million.
Operating expenses rose to $2.22 billion, up from $1.01 billion a year earlier, contributing to a wider operating loss margin of 7% versus 3% in the prior year.
On a non-GAAP basis, adjusted EBITDA increased to $1.16 billion from $606 million a year earlier, though margins declined to 56% from 62%. Adjusted net loss widened to $589 million.
The company’s second-quarter revenue guidance of $2.45 billion to $2.6 billion came in below analyst expectations of about $2.69 billion.
"This was the strongest bookings quarter in CoreWeave's history, with revenue backlog reaching nearly $100 billion. We surpassed 1 GW of active power and believe we are well on our way to more than 8 GW by 2030, having positioned our capital structure to scale with the opportunity ahead," CoreWeave CEO Michael Intrator said.
"AI natives and enterprise customers are choosing CoreWeave because we sit between the models and the silicon, delivering the infrastructure, software, and expertise required to build and run AI at scale.
"As the market moves from training to inference, that distinction matters more than ever. CoreWeave was built for exactly this."
As such, CoreWeave shares fell about 12% on Friday morning.
