Core Scientific, Inc./tx
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
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5 — Balance Sheet Components
- BALANCE SHEET COMPONENTS
Customer funding receivable represents amounts due from CoreWeave for construction-related payables and accrued expenses incurred on its behalf. The Company collects these amounts from CoreWeave prior to payment to vendors. As of September 30, 2026 and December 31, 2025, the customer funding receivable totaled $282.7 million and $337.2 million, respectively. Obligations related to customer items are paid soon after reimbursement. As of September 30, 2026, $250.6 million of the related obligations were included in accrued expenses and $32.1 million were included in accounts payable, compared to $290.6 million in accrued expenses and $46.6 million in accounts payable as of December 31, 2025.
The customer funding receivable is presented net of an allowance for credit losses. The Company evaluates the collectibility of the customer funding receivable under the current expected credit loss model in accordance with ASC 326 and has determined that no allowance for credit losses was required as of September 30, 2026 or December 31, 2025.
Other current assets consisted of the following at the dates indicated (in thousands):
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Assets held for sale | $29,709 | $— |
| Prepaid expenses | 34,935 | 19,514 |
| Other | 66,471 | 5,487 |
| Total other current assets | $131,115 | $25,001 |
Accrued expenses consisted of the following at the dates indicated (in thousands):
| September 30, 2026 | December 31, 2025 | |
|---|---|---|
| Accrued customer funded construction | $250,596 | $290,603 |
| Accrued capital expenditures | 352,990 | 197,888 |
| Accrued interest | 104,160 | 4,600 |
| Other | 71,774 | 18,866 |
| Total accrued expenses | $779,520 | $511,957 |
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