On August 12, CoreWeave, Inc. rose 14.94% in pre-market trading, trading at approximately $104.00/share, with turnover of $3.19 million.
The surge was driven by the company's Q2 earnings release, which beat expectations across the board. Revenue reached $2.575 billion, up 112% year-over-year, exceeding the consensus estimate of $2.56 billion. Adjusted EPS loss was $1.03, significantly better than the expected loss of $1.22, representing a 15.57% beat. Revenue backlog climbed to approximately $104 billion, with over 50% already attached to contracts where customer delivery has commenced.
On the earnings call, the CEO noted that Q2 contract signings carry expected margins 5-10 percentage points higher than recent quarters. The CFO confirmed that all SKU pricing was raised approximately 25% in July to reflect demand, and that margin improvement had already occurred prior to the price increase. The company raised full-year revenue guidance to $12.4-$13.2 billion, with Q3 revenue projected at $3.45-$3.6 billion, and year-end active power capacity upgraded to over 1.85 gigawatts.
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