TLDR
- CoreWeave stock jumps 15% after Q2 revenue more than doubles year over year
- CoreWeave posts $2.58B in Q2 revenue as its backlog climbs to a massive $104B
- CRWV rallies after hours as CoreWeave adds more than $25B in new commitments
- CoreWeave doubles adjusted EBITDA to $1.51B despite wider quarterly net losses
- CoreWeave expands power capacity and secures billions to support future growth
CoreWeave (CRWV) shares surged after hours Tuesday after the company reported sharp second-quarter revenue growth and a massive contracted backlog. CRWV closed at $90.32, up 2.42%, before jumping 14.79% to $103.68 after the results. Revenue more than doubled as CoreWeave expanded computing capacity and secured additional customer commitments.
CoreWeave, Inc. Class A Common Stock, CRWV
CoreWeave Revenue Jumps 112% as Demand Expands
CoreWeave reported second-quarter revenue of $2.58 billion, compared with $1.21 billion one year earlier. That represented an increase of about 112% as the company expanded services across large corporate customers. Operating expenses climbed to $2.62 billion from $1.19 billion during the same period.
The company recorded an operating loss of $49 million, compared with operating income of $19 million last year. Consequently, its operating margin fell to negative 2% from positive 2% in the prior-year quarter. CoreWeave also recorded $640 million in net interest expense, up sharply from $267 million.
Meanwhile, net losses widened to $626 million from $290 million in the second quarter of 2025. Basic and diluted losses reached $1.14 per share, compared with losses of $0.60 one year earlier. Still, adjusted EBITDA doubled to $1.51 billion from $753 million as revenue growth supported operating scale.
$104 Billion Backlog Supports CoreWeave Growth
CoreWeave ended June with approximately $104 billion in revenue backlog under committed customer contracts. Furthermore, that figure excluded more than $25 billion in new customer commitments secured during early third-quarter activity. The backlog gives CoreWeave substantial contracted revenue opportunities as new infrastructure becomes available.
The company continued expanding relationships with large technology groups, corporations, and research-focused businesses during the quarter. New customer activity included Bentley Systems, Caterpillar, Grammarly, Isomorphic Labs and Sunday Robotics. CoreWeave also expanded existing relationships with Databricks, Cognition, Rescale, Runway ML, and several other customers.
Infrastructure growth supported those commercial agreements as CoreWeave added nearly 500 megawatts of active power. As a result, active power capacity reached 1.5 gigawatts by the end of June. Total contracted power also increased to about 3.7 gigawatts across a broader group of infrastructure providers.
CRWV Stock Rallies as CoreWeave Strengthens Finances
CoreWeave continued raising capital to support infrastructure construction and rising computing requirements across its customer base. During the quarter, the company secured a $3.1 billion syndicated term loan backed by high-performance computing infrastructure. Jane Street also provided a $1 billion strategic investment following an expanded commercial relationship earlier this year.
CoreWeave raised more than $10 billion through unsecured debt and convertible bonds during its latest financing push. The fundraising included the company’s first Eurobond issuance and added funding for further capacity expansion. However, higher debt levels also contributed to the sharp increase in quarterly interest expenses.
CoreWeave also joined the Nasdaq-100 Index as its market value and business footprint expanded. The inclusion placed CRWV among the Nasdaq market’s 100 largest listed non-financial companies
The post CoreWeave (CRWV) Stock: Soars 15% as Revenue Jumps 112% and $104B Backlog Fuels Rally appeared first on Blockonomi.
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