Corvex reports $3.8 million in second-quarter revenue, $22 million in contracted ARR
Corvex reported second-quarter 2026 results on Aug. 14, saying revenue reached $3.8 million and contracted annualized recurring revenue on live compute was about $22 million as of that date.
Corvex, Inc. said Aug. 14 that it posted $3.8 million in revenue in the second quarter ended June 30, 2026, and had about $22 million in contracted annualized recurring revenue on live compute as of the reporting date.
The company said the quarter was its first full reporting period to include the AI cloud computing business after a March 19 merger. Corvex said it focused on securing power, hardware, capital and creditworthy customers as it worked to scale its AI computing platform.
Corvex, which trades on Nasdaq under the ticker MOVE, said it is an engineering-led AI computing platform focused on GPU-accelerated infrastructure for AI workloads. The company also said Corvex Token Factory is live in closed alpha.
Stockholders approved capital-structure proposals on July 1 that fully converted Series A Preferred Stock and Series C Preferred Stock to Common Stock and partially converted Series D Preferred Stock to Common Stock, Corvex said. As of July 8, the company said it had about 27.6 million common shares outstanding and 28,930 shares of Series D Preferred Stock outstanding, convertible into about 28.9 million common shares. Corvex said that total represented about 56.6 million common shares on an as-converted basis with respect to the remaining Series D Preferred Stock.
Corvex also said it filed a resale registration statement on July 10 covering up to 53,390,008 shares held or issuable to existing holders. The company said it would not receive proceeds from those resales.
Corvex said it was formerly known as Movano Inc. and renamed Corvex, Inc. effective March 23 after acquiring Corvex Legacy Holdings, Inc. in the March 19 merger. It also said it had strengthened its operating, financing and governance bench as it scales.
The company scheduled a conference call and live audio webcast for Aug. 14 at 4:30 p.m. ET, with a replay available at investors.corvex.ai.
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