Below is Dolphin Research's summary of $Coreweave(CRWV.US) FY26Q1 earnings call.
For our full take, see 'CoreWeave: Can NVIDIA's 'godson' really ride the parent's coattails?'I. Key financial highlights recap. 1) Guidance: Q2 revenue is guided to $2.45-2.60bn and Q2 Adj. OP to $30-90mn.
Q2 interest expense is guided at $650-730mn, with Q2 capex at $7-9bn.
AI cloud unicorn $Coreweave(CRWV.US) reported Q1 2026 results after the US close this morning (May 8). Overall, revenue and biz. growth remained solid, but profit deterioration came in worse than even the cut guidance.
This suggests the company may face a spell where faster top-line growth widens losses, adding to existing doubts about its ability to achieve sustainable profitability over the medium to long term. Specifically: (1) revenue reached a new high at approx. $2.08bn, beating the Street’s $1.97bn...
+10Below is the FY25 Q4 earnings call Trans compiled by Dolphin Research for $Coreweave(CRWV.US). For our earnings take, see 'CoreWeave: Orders Soaring, Profits Plunging—Is the compute unicorn stuck in a profitability trap?'.
I. Key financials recap. Cash and marketable securities: $4.2bn as of Dec 31.Financing activities: issued convertible preferred notes in Q4, raising approx. $2.6bn. Expanded the revolving credit facility to $2.5bn. In 2025, secured over $18bn in combined debt and equity financing...
AI cloud unicorn $Coreweave(CRWV.US) reported 4Q25 results in U.S. after-hours this morning (Feb 27). Overall, a familiar pattern persisted: solid business and revenue growth, but profit deterioration came in worse than even its lowered guidance.
This raises the risk that, for a time, more revenue could translate into deeper losses, intensifying existing concerns about the company's ability to achieve sustainable profitability over the medium to long term. Specifically: 1) Compute capacity ramp on track; after cutting its 4Q revenue guide last quarter due to supplier shipment delays...
In our prior coverage of CoreWeave, the new-cloud leader, Dolphin Research summarized the cloud services biz model and the nature of factor inputs, arguing that long-term model risk is non-trivial. Long-term visibility remains low, but that does not preclude mid-term opportunities.
In this note we will focus on two things. First, the company's mid-term edges and why it has emerged as the leader in today's NeoCloud landscape.Second, a deep dive into CoreWeave's capital-intensive, highly leveraged model. We will assess its steady-state margin profile and discuss the revenue scale required...
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