From Startup Fortune · · 1m
CoreWeave Q3 Earnings Pressure
CoreWeave's Q3 earnings face debt, customer risks and political headwinds.
In brief
CoreWeave's Q3 earnings face debt, customer risks and political headwinds. CoreWeave's Q3 earnings report shows debt costs outpacing profits as political and customer risks mount. Originally reported by Startup Fortune.
CoreWeave earnings report
CoreWeave reports third-quarter results on Tuesday, November 10, with the conference call at 5 p.m. Eastern.
Share price decline
Shares closed Monday at $45.48, about 66% below the year's high.
Debt levels
CoreWeave held $5.5 billion in cash against about $35 billion of debt at the end of June.
Interest costs
CoreWeave guided to $860 million to $940 million of interest expense for the quarter.
Customer commitments
It entered the quarter with a $104.2 billion revenue backlog and at least 10 customers committed $1 billion or more each.
Microsoft contracts
Microsoft has contracts worth up to $70.9 billion with neocloud providers including Nebius, IREN and Nscale.
Political risks
Democrats won governorships in Georgia, Ohio and Texas and voters backed bans on local data-center projects.
The short version
CoreWeave's Q3 earnings report shows debt costs outpacing profits as political and customer risks mount.
