CoreWeave's second-quarter 2026 Form 10-Q reported $640 million in net interest expense and estimated its revenue backlog at about $104 billion, pairing financing costs with contracted work expected to produce revenue over time.
Net interest expense was $267 million in the second quarter of 2025. Revenue in the second quarter of 2026 reached $2.575 billion, up 112% from a year earlier, while the company recorded a $626 million net loss.
The backlog estimate is tied to services under contract, with revenue dependent on CoreWeave making capacity available and completing delivery. The figure is a projection of revenue from service agreements, rather than a current cash balance.
As of June 30, 2026, the filing listed $35.6 billion in total indebtedness and $10 billion in undrawn availability under specified facilities. The figures add to earlier coverage of CoreWeave's financing and bond yields.
