Key Points
CoreWeave edged out top-line estimates in the fourth quarter, but missed on the bottom line.
First-quarter revenue guidance was below expectations.
CoreWeave expects to spend at least $30 billion on capital expenditures this year.
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Shares of CoreWeave (NASDAQ: CRWV) were taking a dive today after the AI-focused neocloud company posted disappointing results in its fourth-quarter earnings report.
CoreWeave, a fast-growing company providing an AI cloud, posted a wider-than-expected loss, a disappointing first-quarter revenue outlook, and a large capex forecast.
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As of 11:50 a.m., the stock was down 19.8% on the news.
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CoreWeave's growth isn't enough
CoreWeave continued to deliver strong growth with revenue up 110% to $1.57 billion, which edged out estimates at $1.53 billion.
However, investors have been concerned about widening losses, and the report only contributed to those worries as the business flipped to an $89 million operating loss from a profit of $113 million in the quarter a year ago.
CoreWeave is also burdened by heavy interest expense due to the debt it relies on to fund its data center buildouts. It reported $388 million interest expense in the quarter, which led to a generally accepted accounting principles (GAAP) net loss of $452 million or $0.89 per share, which was worse than estimates at a loss of $0.68.
The company said its revenue backlog grew to $66.8 billion, showing surging demand for its AI computing capacity, and CEO Michael Intrator added, "Demand continues to intensify as a broader set of customers adopt CoreWeave Cloud to run a diverse and growing set of workloads."
What's next for CoreWeave
Looking ahead to 2026, CoreWeave disappointed with its first-quarter guidance, calling for revenue of $1.9 billion-$2 billion, about double the year before, which was well short of the consensus at $2.24 billion.
For the full year, CoreWeave called for revenue of $12 billion-$13 billion, which compared to the consensus at $12.03 billion.
The company also said it expected capital expenditures this year of at least $30 billion, and forecast a revenue run rate of more than $30 billion by the end of 2027.
Overall, the report showed CoreWeave continuing to grow fast, though not quite fast enough to please investors, while its widening losses and aggressive spending are a growing concern, especially given the stock's high valuation and unproven business model.
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Jeremy Bowman has positions in CoreWeave. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
