CoreWeave (CRWV) Reports $2 Billion Revenue Amid Class Action Lawsuit

CoreWeave (NASDAQ:CRWV) reported revenue surpassing $2 billion for the quarter ended March 31, 2026, alongside a -36% net income margin. The company is involved in a class action lawsuit concerning customer demand statements. In contrast, Applied Digital (NASDAQ:APLD) recorded a -78% net income margin for the quarter ended February 28, 2026, after separating its cloud business on May 5, 2026. CoreWeave's significant backlog of nearly $100 billion in business is poised for future sales growth, despite facing $25 billion in debt. This information is critical for investors assessing the operational scale and financial health of these companies.