CoreWeave sees Q3 revenue $1.26B-$1.30B, consensus $1.25B

The company states: “Our operations and engineering teams are working relentlessly deploy more capacity faster for our customers. With a strong demand backdrop, we expect Q3 revenue in the range of $1.26B to $1.30B In addition, we anticipate Q3 adjusted operating income between $160M-$190M as we are quickly ramping our capacity to meet customer demand. As we have discussed earlier, as we deploy scaled capacity and bring large chunks of capacity online, we incur some costs prior to revenue generation. The scale of our deployments relative to our base implies that these costs ahead of revenue have a short term impact on our margins. We expect our Q3 interest expense to be in the range of $350M to $390M impacted by increased debt to support our demand led CapEx growth partly offset by increasingly lower cost of capital. We expect our CapEx for the third quarter to be $2.9B and $3.4B In addition, like last quarter, we expect stock based compensation to remain slightly elevated throughout the year for grants issued in connection with the IPO and incremental hiring to support our growth.” Comments taken from Q2 earnings conference call.