CoreWeave, Inc. (CRWV) Income Statement
CRWV 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCRWV revenue and net income
Where CRWV's revenue goes
2025Each bar shows an amount and its share of revenue. CRWV kept −22.7% of revenue as net income.
CRWV profit margins
CRWV growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +167.9% | +586.9% | — | — |
| Gross profit | +158.6% | +897.3% | — | — |
| Operating income | −114.2% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CRWV quarterly EPS vs estimates
CoreWeave beat the analyst EPS estimate in 2 of the last 7 quarters. Next report: November 9, 2026 (estimate $-1.57).
CRWV income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $5.13B | $1.92B | $229.0M | $15.8M |
| Cost of revenue | $1.45B | $493.0M | $69.0M | $12.1M |
| Gross profit | $3.68B | $1.42B | $160.0M | $3.7M |
| Sales, general & admin | $795.0M | $137.0M | $43.0M | $8.5M |
| Total operating expenses | $3.72B | $1.10B | $174.0M | $26.6M |
| Operating income | −$46.0M | $324.0M | −$14.0M | −$22.9M |
| Interest expense | $1.23B | $361.0M | $28.0M | $9.4M |
| Income before taxes | −$1.22B | −$744.0M | −$558.0M | −$35.0M |
| Income taxes | −$48.0M | $119.0M | $36.0M | −$4.2M |
| Net income | −$1.17B | −$863.0M | −$594.0M | −$31.1M |
| EBITDA | $2.47B | $480.0M | −$427.0M | −$13.9M |
| EPS (diluted) | −$2.44 | −$2.22 | −$0.42 | — |
| Gross margin | 71.7% | 74.3% | 69.9% | 23.4% |
| Operating margin | −0.9% | 16.9% | −6.1% | −144.5% |
| Net margin | −22.7% | −45.1% | −259.4% | −196.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.58B | $2.08B | $1.57B | $1.36B | $1.21B | $981.6M | $747.4M | $583.9M | $395.4M | $188.7M | $116.0M |
| Cost of revenue | $879.0M | $716.0M | $509.1M | $368.8M | $312.7M | $262.4M | $182.2M | $143.1M | $108.8M | $59.2M | $34.8M |
| Gross profit | $1.70B | $1.36B | $1.06B | $995.9M | $900.1M | $719.2M | $565.3M | $440.8M | $286.5M | $129.5M | $81.1M |
| Sales, general & admin | $238.0M | $233.0M | $202.2M | $196.5M | $211.0M | $185.3M | $53.2M | $38.2M | $25.9M | $19.7M | $17.0M |
| Total operating expenses | $1.75B | $1.51B | $1.15B | $944.0M | $880.9M | $746.7M | $452.6M | $323.7M | $208.8M | $112.6M | $83.0M |
| Operating income | −$49.0M | −$144.0M | −$89.6M | $51.9M | $19.2M | −$27.5M | $112.7M | $117.1M | $77.7M | $16.8M | −$1.8M |
| Interest expense | $640.0M | $536.0M | $387.6M | $310.6M | $267.0M | $263.8M | $149.0M | $104.4M | $66.8M | $40.7M | $16.1M |
| Income before taxes | −$564.0M | −$656.0M | −$466.9M | −$236.8M | −$242.7M | −$268.6M | −$29.3M | −$318.1M | −$282.9M | −$113.8M | −$154.4M |
| Income taxes | $62.0M | $84.0M | −$15.1M | −$126.7M | $47.8M | $46.0M | $22.0M | $41.7M | $40.2M | $15.4M | $16.2M |
| Net income | −$626.0M | −$740.0M | −$451.7M | −$110.1M | −$290.5M | −$314.6M | −$51.4M | −$359.8M | −$323.0M | −$129.2M | −$170.6M |
| EBITDA | $1.47B | $1.03B | $741.3M | $704.2M | $583.7M | $438.7M | $485.1M | $40.3M | −$51.6M | $6.3M | −$85.0M |
| EPS (diluted) | −$1.32 | −$1.12 | −$0.84 | −$0.22 | −$0.60 | −$0.78 | −$0.17 | −$0.89 | −$0.84 | −$0.32 | −$0.42 |
| Gross margin | 65.9% | 65.5% | 67.6% | 73.0% | 74.2% | 73.3% | 75.6% | 75.5% | 72.5% | 68.6% | 70.0% |
| Operating margin | −1.9% | −6.9% | −5.7% | 3.8% | 1.6% | −2.8% | 15.1% | 20.1% | 19.7% | 8.9% | −1.6% |
| Net margin | −24.3% | −35.6% | −28.7% | −8.1% | −24.0% | −32.1% | −6.9% | −61.6% | −81.7% | −68.5% | −147.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CRWV's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CRWV financial results
In fiscal year 2025 (ended December 31, 2025), CoreWeave reported revenue of $5.1 billion, up 167.9% from the year before. It had a net loss of $1.2 billion, a net profit margin of −22.7%. Diluted earnings per share came to −$2.44.
See the CRWV stock overview for the latest quote and news, or the CRWV chart for price history and technical indicators.
CRWV income statement FAQ
What is CoreWeave's annual revenue?
CoreWeave reported total revenue of $5.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 167.9% from $1.9 billion the previous year.
Is CoreWeave profitable?
No. CoreWeave reported a net loss of $1.2 billion in fiscal 2025, a net profit margin of −22.7%; its operating margin was −0.9%.
What is CoreWeave's gross margin?
CoreWeave's gross margin was 71.7% in fiscal 2025: for every $100 of revenue, CoreWeave kept $72 after the direct cost of its products and services.
What are CoreWeave's earnings per share?
CoreWeave earned $-2.44 per diluted share in fiscal 2025, compared with $-2.22 a year earlier.
When will CoreWeave report its next earnings?
CoreWeave is expected to report results for the quarter ending September 30, 2026 on November 9, 2026.
When does CoreWeave's fiscal year end?
CoreWeave's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.