Schulz Duggan(@Schulz_Research):$CRWV | Earnings call Q4 deliveries pulled into Q3; construction in progress declines Management said Q3 capital expenditure of $14.5 billion exceeded guidance because certain Q4 deliveries were pulled forward. Construction in progress fell to 9.3 billion from 11.9 billion as infrastructure was deployed against power available late in Q2. The spending overshoot reflects accelerated deliveries and conversion of unfinished infrastructure into deployed capacity.

2026.11.10 22:28

$CRWV | Earnings call Q4 deliveries pulled into Q3; construction in progress declines Management said Q3 capital expenditure of $14.5 billion exceeded guidance because certain Q4 deliveries were pulled forward. Construction in progress fell to 9.3 billion from 11.9 billion as infrastructure was deployed against power available late in Q2. The spending overshoot reflects accelerated deliveries and conversion of unfinished infrastructure into deployed capacity.

Schulz Duggan@Schulz_Research

2026.11.10 22:25

$CRWV | Earnings call Deliveries expected to begin by year-end for contracts covering over half of backlog Management said more than 50% of backlog is attached to contracts where customer delivery is expected to commence by the end of this year. This indicates the timing of initial deliveries for a substantial portion of backlog, without specifying how much revenue will be recognized this year.