06:22 AM EST, 11/11/2025 (MT Newswires) -- CoreWeave ( CRWV ) shares dropped early Tuesday after the artificial intelligence cloud computing firm lowered its full-year revenue outlook due to a delay at one of its third-party data center providers, even though it recorded better-than-expected third-quarter results.

The company now anticipates revenue to be in a range of $5.05 billion to $5.15 billion for 2025, Chief Financial Officer Nitin Agrawal said during a late Monday conference call, according to a FactSet transcript. The firm previously projected revenue to come in between $5.15 billion and $5.35 billion, while the current consensus on FactSet is for $5.24 billion.

CoreWeave's ( CRWV ) stock fell 9.7% in the most recent premarket activity.

"We are affected by temporary delays related to a third-party data center developer who is behind schedule," Chief Executive Michael Intrator said on the call. The delays in powered shell delivery is expected to have an impact on results in the ongoing three-month period, according to Agrawal.

"The customer affected by the current delays has agreed to adjust the delivery schedule and extend the expiration date," Intrator told analysts. "As a result, we maintain the total value of the original contract and the customer preserves their capacity for the full duration of the initial agreement."

For the quarter ended Sept. 30, CoreWeave's ( CRWV ) net loss narrowed to $0.22 a share from $1.82 the year before, compared with the Street's view for a per-share loss of $0.54. Revenue jumped to $1.36 billion from $583.9 million, surpassing the average analyst estimate of $1.29 billion. That was "driven by robust customer demand and strong execution," Agrawal said.

The company's revenue backlog at the end of September stood at $55.6 billion. During the third quarter, CoreWeave ( CRWV ) agreed to an up to $14.2 billion computing infrastructure deal with Meta Platforms (META), expanded its collaboration with Microsoft-backed OpenAI, securing a new contract worth up to $6.5 billion, and agreed to a $6.3 billion strategic collaboration with Nvidia (NVDA).

The company expects to see an impact on its adjusted operating margin in the near term as it brings online some of its "largest-scale deployments" in the fourth quarter, Agrawal said. "This will have a near-term impact on adjusted operating margin due to the timing difference between when data center costs are first incurred and when we start recognizing revenue."