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Corvex — Third Quarter 2026 Earnings Summary

  • Revenue surged to $5.0 million in Q3 2026 (up 31% QoQ and 1,294% YoY), driven entirely by the new AI Platform segment which generated $4.982 million, while the legacy segment dropped to zero; net loss widened to $17.5 million ($0.60/share) from $4.0 million in the prior year quarter.
  • The company secured $33 million in gross proceeds via a September private placement and $7.5 million in non-recourse equipment financing, raising cash and cash equivalents to $42.0 million at quarter-end to fund expansion toward 8 MW of total capacity.
  • Deferred revenue grew significantly to $3.2 million from $12,000 at year-end 2025, with contracted annualized revenue on live compute reaching approximately $21.7 million as of November 2026.
  • Management confirmed the public launch of the Corvex Token Factory and noted that remaining capacity at Mid-Atlantic 1 and Midwest-1 is on track for service in Q4 2026, alongside the appointment of new leadership for data center sourcing and operations.
Company
CORVEX INC
Sector
Technology
Industry
Software - Infrastructure