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CoreWeave Q3 sales jump 168% YoY, but $42.7B debt raises concerns despite strong margins.

Company Fundamentals
12 Nov 2026, 23:22 WIB
Seeking Alpha
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Neutral
CoreWeave Q3 sales jump 168% YoY, but $42.7B debt raises concerns despite strong margins.

CoreWeave, Inc. reported a strong Q3 with sales of $3.66 billion, up 168% year-over-year, exceeding guidance and boosting its stock. The company showed robust adjusted EBITDA margins of 62% and holds a $132 billion backlog, signaling strong demand. However, net debt surged to $42.7 billion, posing risks amid ongoing dilution and high capital expenditures. The full-year sales forecast was raised to $13.0–$13.3 billion, with Q4 operating income expected to increase by about $400 million sequentially. While EBITDA could double next year, investors face uncertainty due to rising debt and capital spending.

CoreWeave's market cap stands at $33.52 billion as of Nov 13, 2026, 04:42 WIB, with a high enterprise value of $95.55 billion, reflecting significant investor interest despite recent volatility. The stock price is down 6.66% on the day to USD 56.72, while trading volume remains robust at 158 million shares. On Pluang, buyers dominate with 96% of order activity, and typical investors hold the stock for about 13 days, indicating active trading amid the company's strong sales and debt concerns.

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