CoreWeave Inc. (NASDAQ: CRWV) shares tumbled 17.6% on Friday after the cloud computing company reported wider-than-expected fourth-quarter losses and provided a cautious revenue forecast for the first quarter.
The company posted Q4 revenue of $1.572 billion, slightly above Wall Street expectations of $1.55 billion.
However, earnings per share came in at a loss of $0.89, far below the estimated loss of $0.21. Adjusted EBITDA for the quarter reached $898 million.
CoreWeave’s total revenue backlog stood at $66.8 billion, underpinned by the company’s expanding data center operations. In the quarter, CoreWeave added approximately 260 megawatts of active power capacity, bringing its total to more than 850 MW, with total contracted power reaching 3.1 GW.
Despite growth in infrastructure, the company reported a net loss of $452 million, with an adjusted net loss of $284 million.
Looking ahead, CoreWeave expects first-quarter revenue in the range of $1.9 billion to $2 billion, below analysts’ consensus of $2.2 billion. The company anticipates exiting 2026 with $17 billion to $19 billion in annualized run-rate revenue, and more than $30 billion exiting 2027.
Shares fell sharply on the earnings release, reflecting investor concerns over the widened losses and softer near-term sales guidance, despite the company’s long-term growth prospects in the high-demand cloud computing and GPU infrastructure market.