Corvex revenue improves 31% to $5 million
By Brie CarterKey points
- Corvex (NASDAQ:MOVE) reported third-quarter 2026 revenue of $4.982 million, up 31% from the previous quarter, in its first full reporting period following the transfer of its legacy healthcare assets.
- Net loss attributable to common stockholders reached $17.519 million, or $0.60 per share, while adjusted EBITDA loss was $3.242 million.
- Live AI computing capacity supported approximately $21.7 million in contracted annualized revenue, while the company secured approximately 8 MW of planned capacity for expansion.
Corvex (NASDAQ:MOVE) reported third-quarter 2026 revenue of $4.982 million, up 31% from the previous quarter, as it expanded its AI computing operations.
Revenue increased from $3.8 million in the second quarter, while the prior-year comparison of $80,000 reflects only the legacy healthcare business and is not directly comparable.
Net loss attributable to common stockholders was $17.519 million, or $0.60 per share, while adjusted EBITDA loss reached $3.242 million and operating cash outflow was $7 million.
The company's 1.5 MW of live computing capacity supported approximately $21.7 million in contracted annualized revenue as of November 12, a contractual run-rate measure rather than revenue already recognized.
Corvex secured approximately 8 MW of planned capacity, with the remaining deployments targeted for fourth-quarter readiness, while a September private placement generated approximately $33 million in gross proceeds and a subsidiary borrowed $7.5 million for GPU servers.
