Corvex earnings date
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Corvex (MOVE) Q3 2026 Earnings Report
MOVE Q3 2026 EPS Results
- Actual EPS
- -$0.60
- Consensus EPS
- -$0.09
- Beat/Miss
- Missed by -$0.51
- One Year Ago EPS
- -$3.49
MOVE Q3 2026 Revenue Results
- Actual Revenue
- $4.98M
- Expected Revenue
- $5.54M
- Beat/Miss
- Missed by -$559.00K
- YoY Revenue Growth
- +6127.50%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/12/2026
- Time
- Before Open
- Conference Call
- Thursday, November 12, 2026
Corvex's next earnings date is estimated for May 25, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was broadly positive, with strong execution against the stated plan, all 7.7 megawatts of planned capacity under contract, data center expansions on schedule, a successful Token Factory launch, improving liquidity and encouraging customer and financing discussions. The positive developments were tempered by a $17.5 million net loss, ongoing large noncash stock-based compensation, operating cash use, customer and revenue concentration, the absence of near-term Token Factory revenue, increased competitive and credit requirements, and an unremediated material weakness in internal controls.
Corvex expects to grow critical IT capacity from approximately 1.5 megawatts to approximately 8 megawatts by the end of 2026, with the right of first refusal on an additional 12.5 megawatts that could take total Corvex capacity past 20 megawatts in 2027; the remaining 6.2 megawatts across Midwest-1 and the Mid-Atlantic-1 expansion are on track to be ready for service in the fourth quarter of 2026, with Midwest-1 expected to be delivered from the start of construction to anticipated ready for service in under 2 quarters. Corvex is in final discussions with a rapidly growing AI native to take over 1,000 NVIDIA Blackwells for 3 years, expects Token Factory to make a meaningful contribution beginning in 2027, will focus on demand and onboarding partners and channels over the next 2 quarters, and expects to begin testing operating effectiveness of controls in the first half of 2027.
- All Planned Contracted Power SecuredAll 7.7 megawatts of critical IT capacity in the plan presented in August is now under contract. Of that total, 1.5 megawatts is live, while the remaining 6.2 megawatts across Midwest-1 and the Mid-Atlantic-1 expansion are on track to be ready for service in the fourth quarter of 2026.
- Contracted ARR Remained Near $22 MillionContracted annualized recurring revenue on live compute was $21.6 million as of September 30 and $21.7 million as of the call date, in line with the approximately $22 million discussed on August 14.
- Blackwell Capacity Added to ProductionThe company brought 128 NVIDIA Blackwell GPUs into service during the quarter at its Mid-Atlantic data center. The multiyear NVIDIA Blackwell cluster announced on August 4, including liquid-cooled HGX B200 capacity, was fully in production as of July 29.
- Data Center Expansions Progressing on ScheduleMidwest-1 is on track to be ready for service in the fourth quarter of 2026, with power, cooling, equipment and permits largely in place. The Mid-Atlantic expansion is substantially complete, with final equipment installation and commissioning remaining, and is also on track to be ready for service in the fourth quarter. The company expects to deliver Midwest-1 from construction start to anticipated ready-for-service status in under two quarters.
- Potential Large AI-Native Customer for Mid-Atlantic-1Corvex is in final discussions with a rapidly growing AI-native company that could take over 1,000 NVIDIA Blackwell GPUs for three years on terms that clear the company's hurdle rate.
- Positive Offtake and Financing EnvironmentManagement said offtake discussions for Midwest-1 are encouraging against its tests for credit quality, contracting the full data center in an upside case and partnership growth potential. Customers are competing more aggressively for capacity, customer prepayment percentages are increasing relative to the past, and the company said it remains able to bring financed transactions to market that exceed its hurdle rate.
- Token Factory Launched on ScheduleCorvex Token Factory launched publicly on September 30, as planned. Developers and enterprises can register at no cost, obtain an API key and run open-weight models with zero data retention by default. The service is compatible with OpenAI and Anthropic API conventions.
- Token Factory Offering and Demand StrategyToken Factory allows customers to pay by token rather than by GPU, with no cluster provisioning or hardware management required. Management said open-weight models can support a large and rapidly growing share of production workloads, and that token-based capacity can earn more per GPU hour than the same GPU under a bare-metal contract when there is demand. The company is onboarding partners and channels, followed by direct enterprise sales, and expects a meaningful contribution to begin in 2027.
- Assured AI Security DevelopmentCorvex is integrating Assured AI into Token Factory to combine lower-cost inference with verifiable privacy. Assured AI uses trusted execution environments to prove cryptographically that no one, including Corvex, has access to a protected model or processed data. The company said it completed a verified production deployment of confidential computing on NVIDIA HGX B200 systems in March and has run protected workloads for certain customers for more than a year.
- Technology and Platform ExecutionThe next version of Corvex's cloud management software remains in execution, with the first end-to-end stack being deployed in the lab. The software is intended to serve as the basis for future deployments and continued Assured AI development. Corvex also received notices of allowance for two patents during the quarter, bringing its portfolio to two allowed patents and 10 pending applications.
- Revenue Increased SequentiallyThird-quarter revenue was $5.0 million, up from $3.8 million in the second quarter, while nine-month revenue was $9.3 million. All third-quarter revenue came from AI platform and services. The sequential increase reflected a full quarter of capacity that came online during the second quarter and a partial-quarter contribution from the final Blackwell tranche.
- Improved Liquidity and Project-Level FinancingCash and cash equivalents increased to $42.0 million at September 30 from $21.7 million at June 30, plus $0.7 million of restricted cash. The increase included approximately $31 million of net private-placement proceeds and $6.9 million of net equipment-financing proceeds. The $6.9 million of equipment financing was secured by the Blackwell equipment and related customer contract and was nonrecourse to Corvex Inc.
- Financing Partners Remain EngagedManagement said financing partners remain active and encouraged, with interest in the AI infrastructure asset class and confidence in Corvex remaining strong. The USD.AI equipment-financing facility carries a 10% interest rate, and management said it hopes to continue working with USD.AI.
- Disciplined Deployment and Capital Structure ApproachCorvex said every project must clear a return threshold before signing and is financed individually, prioritizing customer prepayments, asset-level debt secured by the contract and equipment, and equity only where it earns its place. The company said it had not used its October 14 at-the-market facility as of the call and intends to use it primarily for the equity portion of specific deployments with attractive returns rather than general operating needs.
- Customer Technical Support SuccessManagement cited an example in which a customer workload running 30% slower than expected was profiled and optimized by Corvex, resulting in performance that was 6x faster two days later.
MOVE Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| May 25, 2027 | 2027 (Q1) | ―- | -3.13 | ― | ― |
| Nov 12, 2026 | 2026 (Q3) | -0.09-0.60 | -3.49 | 82.79% (+2.89) | |
| Aug 14, 2026 | 2026 (Q2) | ―-5.12 | -3.05 | -68.03% (-2.07) | |
| May 19, 2026 | 2026 (Q1) | ―-3.13 | -5.35 | 41.53% (+2.22) | |
| Nov 12, 2025 | 2025 (Q3) | ―-4.73 | -10.6 | 55.34% (+5.87) | |
| Aug 18, 2025 | 2025 (Q2) | -0.72- | -0.9 | ― | |
| May 08, 2025 | 2025 (Q1) | -0.70-0.70 | -1.5 | 53.33% (+0.80) | |
| Mar 19, 2025 | 2024 (Q4) | -0.97-0.68 | -1.68 | 59.77% (+1.00) | |
| Nov 14, 2024 | 2024 (Q3) | -9.30-10.60 | -26.51 | 60.02% (+15.91) | |
| Aug 14, 2024 | 2024 (Q2) | -15.00-9.00 | -25.32 | 64.45% (+16.32) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
