CoreWeave Q1 Results Due Thursday With Big Move Priced In

Overview

• CoreWeave, which reports Q1 2026 results Thursday after the close, is expected to post about $1.97 billion in revenue.
• Management guided revenue to $1.9–$2.0 billion and forecast adjusted operating income of $0–$40 million as heavy $6–$7 billion capex keeps margins near a low point.
• The stock trades near $125 after rising about 75% this year, and options point to roughly a 17% swing once results land.
• April deals include a $21 billion expansion with Meta and larger Jane Street commitments plus a $1 billion equity check, with backlog at $66.8 billion and some analysts estimating obligations above $95 billion.
• Financing remains the key risk as the company closed an $8.5 billion delayed‑draw loan, carried $14.7 billion of long‑term debt at year‑end, and projects Q1 interest expense of $510–$590 million.