Record Revenue Growth
CoreWeave, Inc. reported Q3 revenue of $1.4 billion, an increase of 134% year over year. Revenue backlog ended at $55.6 billion, nearly doubling in the third quarter alone.
Significant Expansion and Contracts
The company added over $25 billion in revenue backlog in Q3 and reached $50 billion in Remaining Performance Obligations (RPO) faster than any cloud in history. Executed large-scale compute contracts with major customers like Meta and OpenAI.
Data Center and Power Capacity Growth
Expanded active power footprint by 120 megawatts to approximately 590 megawatts, with contracted power capacity now over 2.9 gigawatts.
Diversification of Revenue Base
The number of customers exceeding $100 million in revenue tripled year over year. No single customer represents more than approximately 35% of revenue backlog, down from 85% at the start of the year.
Innovative Financing and Strong Capital Position
Secured $14 billion in debt and equity transactions year to date. Adjusted EBITDA for Q3 was $838 million, with a margin of 61%.