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CRWV

CoreWeave, Inc. Class A Common Stock

CRWV

CoreWeave, Inc. Class A Common Stock • NASDAQ
$73.12 ▼ -1.57% (-1.17)
Market Cap $36.44 B
52w High $187.00
52w Low $33.52
Dividend Yield 0%
P/E -44.05
Volume 14.11M
Outstanding Shares 498.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.365B ▲ $944.002M ▲ $-110.124M ▲ -8.07% ▲ $-0.22 ▲ $704.23M ▲
Q2-2025 $1.213B ▲ $880.912M ▲ $-290.509M ▲ -23.954% ▲ $-0.6 ▲ $583.713M ▲
Q1-2025 $981.632M ▲ $746.708M ▲ $-314.641M ▼ -32.053% ▼ $-0.78 ▼ $438.727M ▼
Q4-2024 $747.43M ▲ $452.598M ▲ $-51.372M ▲ -6.873% ▲ $-0.17 ▲ $485.112M ▲
Q1-2024 $188.684M $112.617M $-129.248M -68.5% $-0.32 $6.317M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.942B ▲ $32.91B ▲ $29.032B ▲ $3.878B ▲
Q2-2025 $1.153B ▼ $26.241B ▲ $22.421B ▲ $3.821B ▲
Q1-2025 $1.276B ▼ $21.86B ▲ $18.791B ▲ $3.069B ▲
Q4-2024 $1.361B ▲ $17.833B ▲ $18.246B ▲ $-413.598M ▼
Q3-2024 $1.356B $14.136B $14.48B $-344.027M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-110.124M ▲ $1.689B ▲ $-2.47B ▼ $1.696B ▼ $778.12M ▲ $-699.754M ▲
Q2-2025 $-290.509M ▲ $-251.251M ▼ $-2.442B ▼ $2.229B ▲ $-464.233M ▼ $-2.704B ▼
Q1-2025 $-314.641M ▼ $61.168M ▼ $-1.433B ▲ $1.854B ▼ $481.983M ▲ $-1.346B ▲
Q4-2024 $-51.372M ▲ $186.732M ▼ $-3.464B ▼ $3.391B ▲ $-26.315M ▼ $-3.311B ▼
Q1-2024 $-129.248M $2.039B $-1.771B $919.495M $1.187B $297.103M

Five-Year Company Overview

Income Statement

Income Statement CoreWeave’s income statement shows a company growing extremely fast but still losing money overall. Revenue has exploded in a short period, and the core business now generates solid gross profit, which means its basic services are being sold at attractive spreads over direct costs. At the same time, the company is still reporting sizable net losses. The shift from slightly negative to clearly positive operating profit suggests the underlying business model is starting to work, but heavy interest expense, expansion costs, and other below‑the‑line items are keeping the bottom line in the red. In plain terms: the engine is powerful and revving up, but the cost of fuel and financing is still outweighing the gains.

Balance Sheet

Balance Sheet The balance sheet is aggressive and highly geared toward growth. Total assets have expanded sharply as CoreWeave has invested in data centers and top‑tier GPUs, but this has been funded largely with debt, which has risen rapidly. Equity is currently negative, which signals that obligations to lenders and other claimants exceed the accounting value attributable to common shareholders. That doesn’t automatically mean distress, but it does highlight a thin capital cushion and dependence on continued access to financing. The structure fits a high‑growth, infrastructure‑heavy strategy but leaves less room for error if conditions tighten.

Cash Flow

Cash Flow CoreWeave’s cash flow picture is somewhat counter‑intuitive: the business already generates strong operating cash inflows, which is a positive sign that customers are paying and the core operations are cash‑productive. However, free cash flow is deeply negative because the company is pouring very large sums into capital spending on new facilities and hardware. In other words, the business is self‑funding a good portion of its day‑to‑day needs, but the expansion program is so ambitious that it requires significant additional capital, often in the form of debt or new funding. This is classic for a scale‑up infrastructure player, but it raises sensitivity to any slowdown in demand or tightening in credit.

Competitive Edge

Competitive Edge Competitively, CoreWeave has carved out a focused niche as an AI‑optimized cloud provider rather than a general‑purpose cloud like AWS, Azure, or Google Cloud. Its specialization in GPU computing, deep relationship with NVIDIA, and large installed base of cutting‑edge GPUs give it a meaningful edge for customers running very demanding AI workloads. Long‑term contracts and performance advantages create some customer stickiness. Still, its moat is best viewed as narrow: the major hyperscalers have far more resources and could intensify competition in this segment, and CoreWeave’s reliance on NVIDIA as a key supplier is a strategic vulnerability. The company is important within its niche, but it operates in the shadow of much larger rivals.

Innovation and R&D

Innovation and R&D Innovation is a clear strong point. CoreWeave is not just buying GPUs; it is building a full AI‑first stack, including a Kubernetes‑native environment, specialized storage and networking, and orchestration software tuned for large models. This helps customers get more performance and efficiency out of the underlying hardware. Recent acquisitions such as Weights & Biases and OpenPipe push the company further up the value chain, turning it into more of an end‑to‑end AI development platform rather than simply an infrastructure provider. The big question is execution: integrating these software assets smoothly, keeping pace with NVIDIA’s rapid hardware cycles, and translating technical advantages into durable, profitable customer relationships.

Summary

CoreWeave is a classic high‑growth, capital‑intensive AI infrastructure story. The top line and gross profit are ramping quickly, and operating profitability is starting to emerge, but bottom‑line losses remain large due to financing costs and the sheer scale of its build‑out. The balance sheet and cash flows show a company in “all‑in” expansion mode: strong operating cash generation paired with heavy investment and rising leverage, resulting in negative equity and ongoing funding needs. Competitively, CoreWeave has real strengths in GPU‑focused cloud services, reinforced by a close NVIDIA partnership and targeted acquisitions that broaden its AI platform. The main opportunities lie in continued AI adoption, expansion into new markets such as government, and deepening its software layer around the infrastructure. The main risks center on debt load, execution on massive capex and integrations, supplier concentration, and the potential response of much larger cloud providers. Overall, it is an ambitious, innovative player with significant upside potential if it executes well, but also with elevated financial and competitive risk typical of an early‑stage, infrastructure‑heavy tech company.

NEWS

November 20, 2025 · 10:00 AM UTC

INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of CoreWeave, Inc. - CRWV

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November 14, 2025 · 10:00 AM UTC

Quarterly Earnings News - How AI is Shaping Record Growth across Multiple Sectors

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November 13, 2025 · 9:05 AM UTC

CoreWeave Announces Zero Egress Migration, Unlocking Multi-Cloud Development for AI Workloads

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November 12, 2025 · 9:00 AM UTC

CoreWeave Expands Revolving Credit Facility to $2.5 Billion to Support Growth

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November 11, 2025 · 4:10 PM UTC

CoreWeave to Participate in the Wells Fargo TMT Conference

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