CoreWeave, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
CRWV$48.73-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $1,364,676 | $583,941 | $3,559,096 | $1,167,996 |
| Operating expenses: | ||||
| Cost of revenue | 368,824 | 143,134 | 943,885 | 311,192 |
| Technology and infrastructure | 747,479 | 285,509 | 1,978,794 | 561,276 |
| Sales and marketing | 44,645 | 4,554 | 91,993 | 12,776 |
| General and administrative | 151,878 | 33,628 | 500,835 | 71,068 |
| Total operating expenses | 1,312,826 | 466,825 | 3,515,507 | 956,312 |
| Operating income | 51,850 | 117,116 | 43,589 | 211,684 |
| Gain (loss) on fair value adjustments | — | (341,133) | 26,837 | (748,864) |
| Interest expense, net(a) | (310,555) | (104,375) | (841,356) | (211,797) |
| Other income, net | 21,901 | 10,244 | 22,787 | 34,110 |
| Loss before income taxes | (236,804) | (318,148) | (748,143) | (714,867) |
| Provision for (benefit from) income taxes | (126,680) | 41,659 | (32,869) | 97,209 |
| Net loss | $(110,124) | $(359,807) | $(715,274) | $(812,076) |
| Net loss attributable to common stockholders, basic | $(110,124) | $(389,167) | $(743,996) | $(857,032) |
| Net loss attributable to common stockholders, diluted | $(110,124) | $(389,167) | $(770,841) | $(857,032) |
| Net loss per share attributable to common stockholders, basic | $(0.22) | $(1.82) | $(1.81) | $(4.06) |
| Net loss per share attributable to common stockholders, diluted | $(0.22) | $(1.82) | $(1.87) | $(4.06) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic | 497,886 | 213,806 | 410,954 | 210,889 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted | 497,886 | 213,806 | 412,178 | 210,889 |
(a)Refer to Note 14—Related-Party Transactions for further information on related party arrangements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.