CoreWeave, Inc.

Listed Company

CRWVCIK 0001769628NasdaqNon-AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$5.13B

Net Income

$-1.17B

Total Assets

$49.30B

Equity

$3.33B

Shares Out

—

Op. Cash Flow

$3.06B

Business

CoreWeave, Inc. is a publicly listed company in Prepackaged Software, incorporated in Delaware. Common stock trades on Nasdaq under the ticker CRWV.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Revenue	5,131	1,915	229
Cost of revenue	1,453	493	69
Technology and infrastructure	2,929	961	131
Sales and marketing	144	18	13
General and administrative	651	119	30
Total operating expenses	5,177	1,591	243
Operating income (loss)	−46	324	−14
Gain (loss) on fair value adjustments	27	−756	−534
Interest expense, net	−1,229	−361	−28
Other income, net	33	49	18
Loss before income taxes	−1,215	−744	−558
Provision for (benefit from) income taxes	−48	119	36
Net loss and comprehensive loss	−1,167	−863	−594
Net loss attributable to common stockholders, basic	−1,196	−937	−594
Net loss attributable to common stockholders, diluted	−1,223	−937	−594
Net loss per share attributable to common stockholders, basic (in usd per share )	−2.75	−4.3	−3.09
Net loss per share attributable to common stockholders, diluted (in usd per share )	−2.81	−4.3	−3.09
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares)	435	218	192
Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares)	436	218	192

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-03-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	3,127	—	1,361	217	—
Restricted cash and cash equivalents, current	819	—	37	43	—
Marketable securities	34	—	0	—	—
Accounts receivable, net	3,169	—	417	—	—
Prepaid expenses and other current assets	339	—	101	—	—
Total current assets	7,488	—	1,916	—	—
Restricted cash and cash equivalents, non-current	184	—	637	220	—
Restricted marketable securities, non-current	0	—	29	—	—
Property and equipment, net	30,557	—	11,915	—	—
Operating lease right-of-use assets	8,231	—	2,590	—	—
Intangible assets, net	235	—	5	—	—
Goodwill	1,101	—	20	0	—
Other non-current assets	1,506	—	721	—	—
Total assets	49,302	—	17,833	—	—
Accounts payable	1,623	—	868	—	—
Accrued liabilities	5,773	—	356	—	—
Debt, current	6,708	—	2,468	—	—
Deferred revenue, current	1,709	—	769	—	—
Operating lease liabilities, current	427	—	213	—	—
Finance lease liabilities, current	38	—	58	—	—
Other current liabilities	162	—	231	—	—
Total current liabilities	16,440	—	4,963	—	—
Debt, non-current	14,665	—	5,458	—	—
Derivative and warrant liabilities	1	—	200	—	—
Deferred revenue, non-current	6,476	—	3,295	—	—
Operating lease liabilities, non-current	7,768	—	2,389	—	—
Finance lease liabilities, non-current	216	—	34	—	—
Deferred tax liabilities, non-current	115	—	149	—	—
Other non-current liabilities	286	—	37	—	—
Total liabilities	45,967	—	16,525	—	—
Commitments and contingencies (Note 9)	—	—	—	—	—
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	—	1,722	—	—	—
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	—	−34	—	—
Additional paid-in capital	6,012	—	1,096	—	—
Accumulated deficit	−2,643	—	−1,476	—	—
Total stockholders' equity (deficit)	3,335	—	−414	−597	−11
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)	49,302	—	17,833	—	—
Treasury stock (in shares)	7	—	7	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Depreciation and amortization	2,454	863	103
Amortization of debt discounts and issuance costs and accretion of redemption premiums	110	33	16
Stock-based compensation expense	630	31	15
Non-cash lease expense	357	123	20
Deferred income taxes	−53	113	36
Loss (gain) on fair value adjustments	−27	756	534
Debt extinguishment loss	19	12	0
Other non-cash reconciling items	103	3	1
Accounts receivable	−2,749	−280	−162
Prepaid expenses and other assets	−784	−514	−139
Accounts payable and accrued expenses	253	511	27
Deferred revenue	4,174	2,049	1,986
Lease liabilities	−262	−88	−9
Other liabilities	0	0	−1
Net cash provided by operating activities	3,058	2,749	1,833
Purchase of property and equipment, including capitalized internal-use software	−10,309	−8,702	−2,943
Purchases of marketable securities	−47	−34	−172
Maturities and sales of marketable securities	43	188	6
Sales of warrants received as lease incentive	254	0	0
Business combinations, net of cash acquired	−108	0	0
Issuance of notes receivable	−90	−60	0
Other investing activities	−14	−50	−39
Net cash used in investing activities	−10,271	−8,658	−3,148
Proceeds from issuance of debt, net	11,829	7,018	1,404
Repayments of debt	−3,399	−589	−2
Purchase of capped calls related to convertible senior notes	−340	0	0
Proceeds from initial public offering, net of underwriting discounts and commissions	1,491	0	0
Redeemable convertible preferred stock cash dividends paid	−29	−58	0
Issuance of redeemable convertible preferred stock, net of issuance costs	0	1,172	421
Payment of tax withholdings on settlement of restricted stock units	−144	0	0
Proceeds from exercise of stock options	20	3	2
Proceeds from issuance of common stock	0	0	15
Other financing activities	−120	−82	−52
Net cash provided by financing activities	9,308	7,464	1,788
Net increase in cash, cash equivalents, and restricted cash	2,095	1,555	473
Cash paid for interest, net of capitalized amounts	869	184	0
Liabilities related to property and equipment additions, including OEM financed additions	11,151	893	482
Operating lease right-of-use assets acquired through lease liability	5,836	2,222	481
Finance lease right-of-use assets acquired through lease liability	343	142	0
Warrants received as lease incentive	222	0	0
Conversion of redeemable convertible preferred stock in connection with initial public offering	1,722	0	0
Reclassification of redeemable Class A common stock to Class A common stock	1,163	0	0
Issuance of common stock, restricted stock units, and restricted stock awards for business combinations	1,013	0	0
Fair value of convertible promissory note issued for a business combination	167	0	0
Issuance of common stock for contract incentive	350	0	0
Reclassification of warrant liabilities to equity	173	0	0
Issuance of common stock in connection with conversion of convertible notes	0	1,080	0
Reclassification of customer deposit to debt	230	0	0
Capitalized interest not yet paid	69	32	41
Stock-based compensation capitalized as internal-use software	59	7	2
Settlement of Series B tranche liability	0	70	46
Non-cash investments	77	10	0

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