Overview
- Third-quarter revenue rose roughly 134% to $1.36 billion, topping estimates, with a narrower net loss of $0.22 per share versus a $0.51 loss expected.
- The company guided 2025 revenue to $5.05 billion to $5.15 billion, below the $5.29 billion LSEG consensus.
- Shares fell about 13% in early trading following the results and outlook.
- CEO Mike Intrator said a single third‑party construction delay is pushing deliveries, and the affected customer agreed to extend timelines so contract value is preserved.
- Backlog climbed to $55.6 billion with more than 60% tied to investment‑grade customers, including a new $14.2 billion multi‑year deal with Meta and expanded OpenAI commitments totaling $22.4 billion.