CoreWeave, Inc. · 2026 Q2
ReportedAug 11, 2026
Period endedJun 30, 2026
Rule of 40-111
Consensus vs reported
EPS
BEAT +6%
-$1.14
vs -$1.21 expected
QoQ+18.6%
YoY-90.0%
Revenue
BEAT +1%
$2.58B
vs $2.56B expected
QoQ+23.9%
YoY+112.3%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
Reported this quarter
Revenue
$2.58B
QoQ +23.9%
YoY +112.3%
EPS
-$1.14
QoQ +18.6%
YoY -90.0%
Free Cash Flow
-$5.74B
QoQ -21.9%
YoY -112.4%
Gross Margin
65.9%
QoQ +0.3 pp
YoY -8.4 pp
FCF Margin
-223.0%
QoQ +3.7 pp
YoY -0.1 pp
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- Operating leverage is real and the gap is unchanged. Adjusted operating income rose six-fold to $128M while interest rose to $640M . The ratio improved from 3.9% to 20%; the absolute gap stayed at about $512M .
- Gross margin stopped falling for the first time in five quarters— 65.54% to 65.86% .
- Backlog grew to $104B, with $25B+ of net new commitments disclosed in early Q3, and still no conversion schedule . Size is not the question; timing is.
- Customer disclosure improved materially— Caterpillar, Bentley Systems, Grammarly and Isomorphic Labs named — but there is still no updated top-customer percentage.
- Guidance again did not appear in the filing, exactly as the preview predicted: the Outlook section defers it to the call.
Read the full analysis: CoreWeave's Operating Leverage Arrived. So Did $640 Million of Interest. →
Coverage around this release
R40
Broadcom Is Reported to Be Raising $60 Billion for AI Chip Deals. Its Own 10-Q Already Named the Number That Lands on Broadcom: a $29 Billion Lease Backstop.
News · Aug 20, 2026
R40
CoreWeave's Rent Is Bigger Than Its Debt: $64.6 Billion of Lease Payments Against $35.1 Billion of Borrowings. The Filing Leaves a $14.7 Billion Lease Out of That Total.
News · Aug 20, 2026
R40
The Neocloud "Revenue per Megawatt" Ranking Is Measuring Contract Length, Not Efficiency
News · Aug 19, 2026
R40
Nvidia's Disclosed Stock Portfolio Grew $45 Billion Last Quarter. It Bought One Thing.
News · Aug 15, 2026
R40
CoreWeave's Operating Leverage Arrived. So Did $640 Million of Interest.
News · Aug 12, 2026
R40
CoreWeave Earned $21 Million of Adjusted Operating Income Last Quarter and Paid $536 Million of Interest
News · Aug 11, 2026
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2025 Q3 | — | -$0.22 | — |
| 2025 Q4 | — | -$0.94 | — |
| 2026 Q1 | — | -$1.40 | — |
| 2026 Q2 | -$1.21 | -$1.14 | +6% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 1769628.
JSON
Company facts (XBRL)
Every figure CRWV has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for 2026 Q2, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings