Overview
- Wedbush’s Dan Ives reinstated CoreWeave to his IVES AI 30 list as a top pick into 2026, with shares rebounding about 7% over the past week but still trading under $100 after sharp swings within a $33.51 to $187.00 range.
- CoreWeave’s latest quarter showed 134% year-over-year revenue growth to roughly $1.4 billion, adjusted EBITDA of $838 million at a 61% margin, and a reported backlog above $55 billion.
- Management trimmed 2025 revenue guidance to about $5.05–$5.15 billion after a third‑party data‑center developer fell behind schedule, and the CEO has said he expects partner delays to be resolved by fiscal Q1 2026.
- Analyses flag substantial leverage with reported total borrowings in the roughly $11–$15 billion range, elevated interest costs, and continued GAAP losses despite strong adjusted EBITDA, raising refinancing and cash‑flow risk.
- Customer concentration remains disputed, with the company stating no single client exceeds 35% of backlog while some analyses contend Microsoft represented a majority of recent revenue, contributing to ongoing debate over risk.