Corvex, Inc. (MOVE) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone. Thank you for joining us and welcome to the Corvex Q2 2026 Financial Results Conference Call. I will now hand the conference over to Chance Moreland, Chief Financial Officer. Chance, please go ahead. Good afternoon and welcome to Corvex's second quarter 2026 Earnings Conference Call. Joining me are Jay Crystal, co-founder and co-chief executive officer, and Seth Demsey, co-founder and co-chief executive officer. Before we begin, I remind you that our remarks today include forward-looking statements. Actual results can differ materially from these statements. The factors that could cause this difference are in today's earnings press release and in our quarterly report on Form 10Q for the quarter ended June 30, 2026, which we filed today with the SEC. Our forward-looking statements use assumptions as of today. We do not undertake to update them. On this call, we discuss both GAAP and non-GAAP financial measures. We use adjusted EBITDA, and we refer to contracted annualized recurring revenue on live compute, which is an operating metric rather than a financial measure. A reconciliation of adjusted EBITDA to net loss is in today's press release and in our Form 10Q. Adjusted EBITDA is not a substitute for GAAP results. Other companies calculate similar measures in different ways. The press release and this call replay are on our investor relations site at investors.corvex.ai. Corvex completed the merger with Corvex Legacy Holdings on March 19th, 2026. The second quarter of 2026 is our first full reporting period that includes the AI cloud computing business. Comparisons to prior periods are limited. We encourage you to read the form 10Q for the full picture. I will now turn the call over to Jay. Thank you, Chance. Good afternoon, everyone, and thank you f...