CRWV on Nasdaq
CoreWeave, Inc.
Price unavailable
Last updated Oct 16, 2026.
Overview
Compare with Twilio, GenOn Energy or Cadence Design Systems, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-0.9%Operating margin2
-22.7%Net margin2
167.9%Revenue growth, 20252
-35.0%Return on equity2
4.40×Debt to equity2
-$7.3BFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Regions
United States brought in 94% of the revenue CoreWeave, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $201.0M | $1.8B | $4.8B |
| Outside the United States | $28.0M | $118.0M | $330.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue28¢$1.5B
- Research and development7¢$352.0M
- Other costs64¢$3.3B
- Income tax1¢$48.0M
Out of $5.1B in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending100¢$10.3B
Out of $3.1B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $5.1B | $1.9B | $229.0M |
| Cost of revenue | $1.5B | $493.0M | $69.0M |
| Technology and infrastructure | $2.9B | $961.0M | $131.0M |
| Sales and marketing | $144.0M | $18.0M | $13.0M |
| General and administrative | $651.0M | $119.0M | $30.0M |
| Total operating expenses | $5.2B | $1.6B | $243.0M |
| Operating income (loss) | -$46.0M | $324.0M | -$14.0M |
| Gain (loss) on fair value adjustments | $27.0M | -$756.0M | -$534.0M |
| Interest expense, net | -$1.2B | -$361.0M | -$28.0M |
| Other income, net | $33.0M | $49.0M | $18.0M |
| Loss before income taxes | -$1.2B | -$744.0M | -$558.0M |
| Provision for (benefit from) income taxes | -$48.0M | $119.0M | $36.0M |
| Net loss and comprehensive loss | -$1.2B | -$863.0M | -$594.0M |
| Net loss attributable to common stockholders, basic | -$1.2B | -$937.0M | -$594.0M |
| Net loss attributable to common stockholders, diluted | -$1.2B | -$937.0M | -$594.0M |
| Net loss per share attributable to common stockholders, basic (in usd per share ) | -$2.75 | -$4.30 | -$3.09 |
| Net loss per share attributable to common stockholders, diluted (in usd per share ) | -$2.81 | -$4.30 | -$3.09 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | 435.0M shares | 218.0M shares | 192.0M shares |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | 436.0M shares | 218.0M shares | 192.0M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2025-03-31 | 2024-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $3.1B | $1.4B | |
| Restricted cash and cash equivalents, current | $819.0M | $37.0M | |
| Marketable securities | $34.0M | $0 | |
| Accounts receivable, net | $3.2B | $417.0M | |
| Prepaid expenses and other current assets | $339.0M | $101.0M | |
| Total current assets | $7.5B | $1.9B | |
| Restricted cash and cash equivalents, non-current | $184.0M | $637.0M | |
| Restricted marketable securities, non-current | $0 | $29.0M | |
| Property and equipment, net | $30.6B | $11.9B | |
| Operating lease right-of-use assets | $8.2B | $2.6B | |
| Intangible assets, net | $235.0M | $5.0M | |
| Goodwill | $1.1B | $20.0M | |
| Other non-current assets | $1.5B | $721.0M | |
| Total assets | $49.3B | $17.8B | |
| Accounts payable | $1.6B | $868.0M | |
| Accrued liabilities | $5.8B | $356.0M | |
| Debt, current | $6.7B | $2.5B | |
| Deferred revenue, current | $1.7B | $769.0M | |
| Operating lease liabilities, current | $427.0M | $213.0M | |
| Finance lease liabilities, current | $38.0M | $58.0M | |
| Other current liabilities | $162.0M | $231.0M | |
| Total current liabilities | $16.4B | $5.0B | |
| Debt, non-current | $14.7B | $5.5B | |
| Derivative and warrant liabilities | $1.0M | $200.0M | |
| Deferred revenue, non-current | $6.5B | $3.3B | |
| Operating lease liabilities, non-current | $7.8B | $2.4B | |
| Finance lease liabilities, non-current | $216.0M | $34.0M | |
| Deferred tax liabilities, non-current | $115.0M | $149.0M | |
| Other non-current liabilities | $286.0M | $37.0M | |
| Total liabilities | $46.0B | $16.5B | |
| Redeemable convertible preferred stock, $0.000005 par value per share, no and 206 shares authorized as of December 31, 2025 and 2024, respectively; no and 185 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $1.7B | ||
| Preferred stock, $0.000005 par value per share, 100 and no shares authorized as of December 31, 2025 and 2024, respectively; no shares issued and outstanding as of December 31, 2025 and 2024 | $0 | $0 | |
| Treasury stock, at cost, 7 shares as of December 31, 2025 and 2024 | -$34.0M | -$34.0M | |
| Additional paid-in capital | $6.0B | $1.1B | |
| Accumulated deficit | -$2.6B | -$1.5B | |
| Total stockholders' equity (deficit) | $3.3B | -$414.0M | |
| Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) | $49.3B | $17.8B | |
| Treasury stock (in shares) | 7.0M shares | 7.0M shares | |
| Temporary equity, shares authorized (in shares) | 206.0M shares | ||
| Temporary equity, shares issued (in shares) | 185.0M shares | ||
| Temporary equity, shares outstanding (in shares) | 185.0M shares | ||
| Preferred stock, par value (usd per share) | $0.00 | $0.00 | |
| Preferred stock, shares authorized (in shares) | 100.0M shares | 0 shares | |
| Preferred stock, shares issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, shares outstanding (in shares) | 0 shares | 0 shares | |
| Common shares, par value (usd per share) | $0.00 | $0.00 | |
| Common shares, shares authorized (in shares) | 3.4B shares | 691.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$1.2B | -$863.0M | -$594.0M |
| Depreciation and amortization | $2.5B | $863.0M | $103.0M |
| Amortization of debt discounts and issuance costs and accretion of redemption premiums | $110.0M | $33.0M | $16.0M |
| Stock-based compensation expense | $630.0M | $31.0M | $15.0M |
| Non-cash lease expense | $357.0M | $123.0M | $20.0M |
| Deferred income taxes | -$53.0M | $113.0M | $36.0M |
| Loss (gain) on fair value adjustments | -$27.0M | $756.0M | $534.0M |
| Debt extinguishment loss | $19.0M | $12.0M | $0 |
| Other non-cash reconciling items | $103.0M | $3.0M | $1.0M |
| Accounts receivable | -$2.7B | -$280.0M | -$162.0M |
| Prepaid expenses and other assets | -$784.0M | -$514.0M | -$139.0M |
| Accounts payable and accrued expenses | $253.0M | $511.0M | $27.0M |
| Deferred revenue | $4.2B | $2.0B | $2.0B |
| Lease liabilities | -$262.0M | -$88.0M | -$9.0M |
| Other liabilities | $0 | $0 | -$1.0M |
| Net cash provided by operating activities | $3.1B | $2.7B | $1.8B |
| Purchase of property and equipment, including capitalized internal-use software | -$10.3B | -$8.7B | -$2.9B |
| Purchases of marketable securities | -$47.0M | -$34.0M | -$172.0M |
| Maturities and sales of marketable securities | $43.0M | $188.0M | $6.0M |
| Sales of warrants received as lease incentive | $254.0M | $0 | $0 |
| Business combinations, net of cash acquired | -$108.0M | $0 | $0 |
| Issuance of notes receivable | -$90.0M | -$60.0M | $0 |
| Other investing activities | -$14.0M | -$50.0M | -$39.0M |
| Net cash used in investing activities | -$10.3B | -$8.7B | -$3.1B |
| Proceeds from issuance of debt, net | $11.8B | $7.0B | $1.4B |
| Repayments of debt | -$3.4B | -$589.0M | -$2.0M |
| Purchase of capped calls related to convertible senior notes | -$340.0M | $0 | $0 |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $1.5B | $0 | $0 |
| Redeemable convertible preferred stock cash dividends paid | -$29.0M | -$58.0M | $0 |
| Issuance of redeemable convertible preferred stock, net of issuance costs | $0 | $1.2B | $421.0M |
| Payment of tax withholdings on settlement of restricted stock units | -$144.0M | $0 | $0 |
| Proceeds from exercise of stock options | $20.0M | $3.0M | $2.0M |
| Proceeds from issuance of common stock | $0 | $0 | $15.0M |
| Other financing activities | -$120.0M | -$82.0M | -$52.0M |
| Net cash provided by financing activities | $9.3B | $7.5B | $1.8B |
| Net increase in cash, cash equivalents, and restricted cash | $2.1B | $1.6B | $473.0M |
| Cash paid for interest, net of capitalized amounts | $869.0M | $184.0M | $0 |
| Liabilities related to property and equipment additions, including OEM financed additions | $11.2B | $893.0M | $482.0M |
| Operating lease right-of-use assets acquired through lease liability | $5.8B | $2.2B | $481.0M |
| Finance lease right-of-use assets acquired through lease liability | $343.0M | $142.0M | $0 |
| Warrants received as lease incentive | $222.0M | $0 | $0 |
| Conversion of redeemable convertible preferred stock in connection with initial public offering | $1.7B | $0 | $0 |
| Reclassification of redeemable Class A common stock to Class A common stock | $1.2B | $0 | $0 |
| Issuance of common stock, restricted stock units, and restricted stock awards for business combinations | $1.0B | $0 | $0 |
| Fair value of convertible promissory note issued for a business combination | $167.0M | $0 | $0 |
| Issuance of common stock for contract incentive | $350.0M | $0 | $0 |
| Reclassification of warrant liabilities to equity | $173.0M | $0 | $0 |
| Issuance of common stock in connection with conversion of convertible notes | $0 | $1.1B | $0 |
| Reclassification of customer deposit to debt | $230.0M | $0 | $0 |
| Capitalized interest not yet paid | $69.0M | $32.0M | $41.0M |
| Stock-based compensation capitalized as internal-use software | $59.0M | $7.0M | $2.0M |
| Settlement of Series B tranche liability | $0 | $70.0M | $46.0M |
| Non-cash investments | $77.0M | $10.0M | $0 |
Former names
- Atlantic Crypto CorpMar 11, 2019 to Oct 3, 20193
Recent filings
- Oct 14, 20264 PRIMARY DOCUMENT
- Oct 14, 20264 PRIMARY DOCUMENT
- Oct 13, 2026144
- Oct 13, 2026144
- Oct 13, 2026144
- Oct 8, 20264 PRIMARY DOCUMENT
- Oct 8, 20264 PRIMARY DOCUMENT
- Oct 6, 2026144
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
- Oct 2, 20264 PRIMARY DOCUMENT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARCoreWeave, Inc. filings on SEC EDGAR
- 2SEC EDGARCoreWeave, Inc. 10-K for fiscal 2025
- 3SEC EDGARCoreWeave, Inc. filings on SEC EDGAR
- 4SEC EDGARCoreWeave, Inc. 10-Q for fiscal 2025
- 5SEC EDGARCoreWeave, Inc. 10-Q for fiscal 2025
- 6SEC EDGARCoreWeave, Inc. 10-Q for fiscal 2026
- 7SEC EDGARCoreWeave, Inc. 10-Q for fiscal 2025