Corvex Shares Drop After Post-Merger 1Q Report

Dow Jones05-20

By Dean Seal

Shares of Corvex fell after the AI cloud-computing company reported another loss in its first earnings report since it was formed from the merger of Movano and Corvex Legacy Holdings.

The stock was down 5.7% at $20.94 after hours Tuesday. Shares had more than tripled year to date when the market closed.

Corvex said it had $510,000 of revenue in the first quarter, up from $206,000 a year earlier. Operating expenses, meanwhile, fell below $5.4 million from just over $5.4 million in the year-earlier quarter.

The company's quarterly net loss came to $5 million, slimmed from $5.2 million a year ago.

This was the first report from Corvex since it merged in March with Movano, a publicly traded health-focused technology company, to join the public markets.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

May 19, 2026 17:21 ET (21:21 GMT)

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