CoreWeave, Inc. (CRWV) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone. Thank you for joining us and welcome to CoreWeave's second quarter 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to CoreWeave. Please go ahead. Thank you. Good afternoon and welcome to CoreWeave's second quarter 2026 earnings conference call. Joining the call today to discuss our results are Mike Intrator, CEO, and Nitin Agrawal, CFO. Before we get started, I would like to take this opportunity to remind you that our remarks today will include forward-looking statements. During this call, we will present both gap and certain non-gap financial measures. A reconciliation of gap to non-gap measures is included in today's earnings press release. The earnings press release and an accompanying investor presentation are available on our website at investors.goreweave.com. A replay of this call will also be available on our investor relations website. And now, I'd like to turn the call over to Mike. Good afternoon, everyone, and thank you for joining us. Q2 was an exceptional quarter for CoreWeave. We outperformed our plan across the board with the operating leverage we have been building beginning to show up clearly in our results. Extraordinary execution across the organization drove record financial performance, rapid capacity growth, broadening customer demand, and continued platform innovation. We generated record revenue of $2.6 billion up 112% year over year, increased revenue backlog to $104 billion while driving rapidly expanding enterprise adoption. This figure does not include the over $25 billion of net new customer commitments added in the ...