Overview
- Shares fell nearly 20% Friday after the company beat Q4 revenue expectations with $1.57 billion but posted a larger loss of $0.89 per share.
- Operating expenses more than doubled in the quarter and adjusted EBITDA of $898 million missed consensus, reinforcing margin concerns.
- Management guided Q1 revenue to $1.9 billion–$2.0 billion versus about $2.29 billion expected and set 2026 capital spending at $30–$35 billion, more than double last year, with full‑year sales guided to $12–$13 billion.
- Contracted revenue backlog rose to $66.8 billion as CoreWeave ended 2025 with 850 megawatts of active power and 3.1 gigawatts contracted.
- Reported debt stood at $21.37 billion (roughly $30 billion including leases) as Nvidia invested $2 billion and, according to an analyst account and company comment, could provide credit enhancements such as potential lease guarantees.