On May 8, CoreWeave declined 9.11% in pre-market trading, trading at $116.75/share, with trading volume of $8.42 million. The sell-off follows the company's fiscal Q1 earnings release, which revealed a widening gap between top-line momentum and bottom-line performance.
CoreWeave reported Q1 revenue of $2.08 billion, up 112% year-over-year and ahead of the $1.97 billion consensus estimate. However, the company issued Q2 revenue guidance of $2.45-$2.60 billion, with a midpoint of $2.53 billion falling short of the analyst consensus of approximately $2.7 billion. Adjusted net loss widened to $589 million, representing a -28% adjusted net loss margin. Quarterly capital expenditure surged to $6.786 billion, up 265% year-over-year, reflecting aggressive infrastructure expansion.
On the demand side, revenue backlog reached $99.4 billion as of March-end, up 284% year-over-year, with 36% expected to convert to revenue within two years. Active compute capacity exceeded 1 GW across 49 operational data centers. Despite robust demand signals, the market appears focused on near-term profitability headwinds and the below-consensus Q2 outlook as the company prioritizes scale over margins.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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