Overview
- Shares fell more than 11% in extended trading after Q1 results beat on revenue but missed on profit, with a GAAP loss of $1.40 per share versus a $0.92 estimate.
- Magnetar Financial, a 10%+ holder, sold over 2.7 million shares for about $370.45 million right after the report, part of roughly $1.9 billion in insider sales over three months that drew a Negative TipRanks signal.
- CoreWeave reported a contracted backlog near $99.4 billion, and about three quarters of its goal to exit 2027 at more than $30 billion in annualized revenue is already under contract.
- The company said it crossed 1 gigawatt of active power and has more than 3.5 gigawatts contracted to be live by 2027, but it is spending heavily with more than $17 billion in debt, $2.2 billion in cash, and forecasts for large cash outflows.
- Analysts split on the outlook, with DA Davidson and Bank of America raising targets on durable demand as Morgan Stanley flagged financing and execution risk, keeping attention on how CoreWeave funds growth and improves margins.