CoreWeave Inc. (CRWV) delivered a third-quarter report after Tuesday's closing bell that beat on both the top and bottom lines, and the company used the occasion to raise its full-year revenue outlook. Here's the rundown.

CoreWeave Q3 Earnings Highlights

CoreWeave reported third-quarter revenue of $3.66 billion, beating analyst estimates of $3.55 billion, according to market data. The company reported a third-quarter adjusted loss of 95 cents per share, beating estimates for a loss of $1.16 per share.

Total revenue was up approximately 168% on a year-over-year basis. The company said it ended the quarter with a revenue backlog of $132.5 billion.

“This was a breakout quarter for CoreWeave, with revenue increasing by more than $1 billion sequentially and adjusted operating margins reaching double digits a quarter ahead of plan,” said Michael Intrator, co-founder and CEO of CoreWeave.

“Our growth is supported by multiple sources of funding, including financing backed by customer contracts, operating cash flow, and approximately $9 billion in customer prepayments and deposits expected in the next three months alone.”

The company reported $3.45 billion in operating expenses during the period and ended the quarter with approximately $4.12 billion in cash and cash equivalents.

CoreWeave raised its full-year 2026 revenue guidance from a range of $12.40 billion to $13.20 billion to a new range of $13 billion to $13.3 billion, versus estimates of $12.86 billion. The company expects to exit the year with an annualized revenue run-rate of $20 billion to $21 billion.

Full-year capital expenditures are expected to be between $37 billion and $39 billion versus prior guidance of $35 billion to $39 billion. CoreWeave said it continues to expect more than 1.85 gigawatts of active power at year-end.

CoreWeave management will discuss the quarter on an earnings call at 5 p.m. ET.

CRWV Stock Rises After Earnings

CoreWeave shares were up 2.20% in after-hours, trading at $49.80 at the time of publication on Tuesday, according to market data.