CRWV

MKT CAP:$58B

CoreWeave, Inc. Class A Common Stock

Market Cap

$58B

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$110.98+$31.66 (+39.91%)

Apr 24, 2026

Company Details

CoreWeave, Inc. operates a cloud platform that provides scaling, support, and acceleration for GenAI. The company builds the infrastructure that supports compute workloads for enterprises. Its products include GPU compute, CPU compute, stor...

CEO

Michael N. Intrator

IPO Date

Mar 28, 2025

Website

www.coreweave.com

Key Metrics TTM

Revenue

$5.1B

+167.9% YoY

Net Income

-$1.2B

EPS (Diluted)

-$2.49

Free Cash Flow

-$7.3B

Revenue / Share

$11.77

Gross Margin

71.7%

Operating Margin

-0.9%

Net Margin

-22.7%

FCF Margin

-141.3%

P/S

11.4x

P/E

—

Earnings Reports

Q1 2026

May 13, 2026

PENDING

FY 2025

Mar 2, 2026

$5.1B+167.9%EPS -$2.81

Q4 2025

Mar 2, 2026

$1.6B+110.3%EPS -$0.89

Q3 2025

Nov 13, 2025

$1.4B+133.7%EPS -$0.22

Q2 2025

Aug 12, 2025

$1.2B+206.7%EPS -$0.60

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 23	$116M	$81M	-$2M
Q1 24	$189M	$129M	$17M
Q2 24	$395M	$287M	$78M
Q3 24	$584M	$441M	$117M
Q4 24	$747M	$565M	$113M
Q1 25	$982M	$719M	-$27M
Q2 25	$1.2B	$900M	$19M
Q3 25	$1.4B	$996M	$52M
Q4 25	$1.6B	$1.1B	-$90M

Valuation

Quarter	P/S	P/E
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	14.1x	—
Q4 24	9.4x	—
Q1 25	6.7x	—
Q2 25	23.0x	—
Q3 25	14.2x	—
Q4 25	7.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 23	$44M	-$1.1B
Q1 24	$2.0B	$297M
Q2 24	-$118M	-$2.4B
Q3 24	$641M	-$574M
Q4 24	$187M	-$3.3B
Q1 25	$61M	-$1.3B
Q2 25	-$251M	-$2.7B
Q3 25	$1.7B	-$700M
Q4 25	$1.6B	-$2.5B

Capital Expenditures

Quarter	CapEx
Q4 23	$1.2B
Q1 24	$1.7B
Q2 24	$2.2B
Q3 24	$1.2B
Q4 24	$3.5B
Q1 25	$1.4B
Q2 25	$2.5B
Q3 25	$2.4B
Q4 25	$4.1B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	+544.4%	+438.8%
Q1 25	+420.3%	+487.2%
Q2 25	+206.7%	+275.8%
Q3 25	+133.7%	+181.2%
Q4 25	+110.3%	+161.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 23	$8M	7.0%
Q1 24	$8M	4.3%
Q2 24	$8M	1.9%
Q3 24	$8M	1.3%
Q4 24	$8M	1.1%
Q1 25	$184M	18.7%
Q2 25	$145M	12.0%
Q3 25	$144M	10.6%
Q4 25	$157M	10.0%

OpEx Breakdown

Quarter	G&A	S&M
Q4 23	$12M	$5M
Q1 24	$16M	$4M
Q2 24	$22M	$4M
Q3 24	$34M	$5M
Q4 24	$48M	$6M
Q1 25	$175M	$11M
Q2 25	$174M	$37M
Q3 25	$152M	$45M
Q4 25	$150M	$52M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 23	—	-73.3%	—
Q1 24	—	3.3%	—
Q2 24	—	-13.1%	—
Q3 24	—	6.9%	—
Q4 24	544.4%	64.9%	609.3
Q1 25	420.3%	44.7%	464.9
Q2 25	206.7%	48.1%	254.9
Q3 25	133.7%	51.6%	185.3
Q4 25	110.3%	47.2%	157.5

Rule of 40

Revenue by Geography

Quarter	Non-US	United States
Q1 25	$52M	$929M
Q2 25	$65M	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$217M	$2M	$220M
Q3 24	$1.4B	$1M	$1.4B
Q4 24	$1.4B	$0	$1.4B
Q1 25	$1.3B	$0	$1.3B
Q2 25	$1.2B	$0	$1.2B
Q3 25	$1.9B	$47M	$1.9B
Q4 25	$3.9B	$34M	$4.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 23	404M	—	—
Q1 24	404M	0.0%	—
Q2 24	404M	0.0%	—
Q3 24	436M	+7.9%	—
Q4 24	404M	-7.1%	+0.2%
Q1 25	404M	0.0%	+0.2%
Q2 25	487M	+20.3%	+20.5%
Q3 25	498M	+2.3%	+14.3%
Q4 25	436M	-12.4%	+7.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	$718.1K	2K

Revenue / Employee