Filing Flows › Core Scientific, Inc./tx (CORZ) › Q1 2026
Core Scientific, Inc./tx (CORZ) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Core Scientific, Inc./tx (CORZ) reported revenue of $115M for the first quarter 2026 (Q1 2026), +45% from a year earlier and +44% from the quarter before. Operating margin was -269.4%, net loss $347M (301.3% of revenue).
Core Scientific, Inc./tx, Q1 2026: revenue $115M (+45% year over year), operating margin -269.4%, net loss $347M, operating cash flow $250M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $115M | +44% | +45% |
| Operating profit | −$310M | — | — |
| Net earnings | −$347M | -261% | -160% |
| Operating cash flow | $250M | +59% | — |
What changed
Revenue was $115.2M in Q1 2026, up 45% year over year and up 44% from the previous quarter.
Gross margin was 26.1%, up 15.8 points from Q1 2025. Operating costs exceeded revenue by $310.4M, an operating margin of -269.4%. Operating expenses grew 516% against revenue growth of 45%. The fastest-growing cost line was Other operating costs (+2665%). The quarter ended with a net loss of $347.2M, after a profit of $216.0M the previous quarter.
Operating cash flow was $249.9M. Non-cash charges added back $16.6M of depreciation and amortization and $17.8M of share-based compensation. Working capital and other items added $562.7M. Capital expenditures of $389.2M exceeded it, leaving free cash flow of −$139.3M.
Questions
What was Core Scientific, Inc./tx's revenue in the first quarter 2026?
Core Scientific, Inc./tx (CORZ) reported revenue of $115M for the first quarter 2026 (Q1 2026), +45% from a year earlier and +44% from the quarter before.
Was Core Scientific, Inc./tx profitable in the first quarter 2026?
Operating loss was $310M (-269.4% of revenue) and net loss $347M.