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Corvex, Inc. Third Quarter Update

ARLINGTON, Va. — Corvex, Inc. (NASDAQ: MOVE), an innovative AI computing platform focusing on GPU-accelerated infrastructure for AI workloads, has recently released its financial results for the third quarter ending September 30, 2026. This quarter marks the first complete financial reporting after the company's strategic move to divest its legacy healthcare assets by June 30, signaling a significant shift in focus towards AI-driven projects.

Financial Highlights

In the third quarter of 2026, Corvex reported a remarkable 31% increase in total revenue, reaching $5.0 million, compared to $3.8 million in the previous quarter. This growth trail indicates a solid foundation built on Corvex's recent strategies and market demand. For the nine months ending September 30, total revenue amounted to $9.3 million.

The report indicated that the net loss attributable to common stockholders for this quarter was $(17.5) million, translating to $(0.60) per share. Despite the loss, the adjusted EBITDA (a non-GAAP financial measure) improved slightly to $(3.2) million from the previous nine-month figure.

Cash and cash equivalents as of September 30, stood at $42.0 million, showcasing relative stability in liquidity amidst ongoing investments in capacity expansion and technological advancements.

Business Outlook

Corvex has successfully secured approximately 8 MW of critical IT capacity needed to enhance its operations, delivering boosted support for $22 million worth of contracted annual recurring revenue (ARR). As of November 12, 2026, contracted annualized revenue linked to live compute reached around $21.7 million, reinforced by a clear customer demand that aligns with Corvex’s underwriting criteria.

The company is making headway with projects focusing on cutting-edge NVIDIA Blackwell clusters and expanding its data centers at Mid-Atlantic 1 and Midwest-1 sites, all on track for completion in the fourth quarter of 2026. The firm is optimistic, holding a right of the first refusal on an additional 12.5 MW planned for 2027, potentially driving capacity over 20 MW and supporting advancements in AI innovation.

Technological Innovations

Corvex continues to prioritize engineering excellence, showcased by the timely launch of the Corvex Token Factory, transitioning from closed alpha to a publicly accessible platform designed for serverless AI inference. This product allows enterprises and developers to run models without the burden of data retention, enhancing security measures while ensuring operational efficiency.

Moreover, the company is advancing its intellectual property portfolio, having received patents for its innovative technologies that aim to optimize GPU performance while safeguarding customer data.

Leadership Goals

Corvex's commitment to enhancing its operational frameworks is evident through recent strategic appointments, bringing experienced professionals to spearhead its development and operations divisions. These moves are crucial as Corvex prepares to meet growing market demands while navigating a dynamic technological landscape.

In summary, Corvex, Inc.'s third quarter results illustrate robust growth and strategic realignments that seek to propel the company's future. With an engineered focus on AI capabilities, financial management, and a commitment to innovation, Corvex is positioned as a significant player in the AI infrastructure market. Investors and stakeholders are encouraged to follow the upcoming developments as Corvex continues to expand its operational capabilities and technological offerings.

Call to Action

Investors are invited to participate in the upcoming conference call at 8:30 AM ET to further discuss these results and gain insights into the company’s outlook. Access details will be provided through the Corvex Investor Relations website, where stakeholders can also explore more about the company’s ongoing developments and strategic objectives.