CoreWeave, Inc.
For the period ended Jun 30, 2025. Filed Aug 13, 2025.
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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.
Jun 30, 2025 · Filed Aug 13, 2025
CRWV$48.73-0.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations
(in thousands, except per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $1,212,788 | $395,371 | $2,194,420 | $584,055 |
| Operating expenses: | ||||
| Cost of revenue | 312,667 | 108,838 | 575,061 | 168,058 |
| Technology and infrastructure | 669,913 | 182,886 | 1,231,315 | 275,767 |
| Sales and marketing | 36,799 | 4,172 | 47,348 | 8,222 |
| General and administrative | 174,200 | 21,754 | 348,957 | 37,440 |
| Total operating expenses | 1,193,579 | 317,650 | 2,202,681 | 489,487 |
| Operating income (loss) | 19,209 | 77,721 | (8,261) | 94,568 |
| Gain (loss) on fair value adjustments | — | (310,231) | 26,837 | (407,731) |
| Interest expense, net(a) | (266,966) | (66,766) | (530,801) | (107,422) |
| Other income (expense), net | 5,023 | 16,406 | 886 | 23,866 |
| Loss before provision for (benefit from) income taxes | (242,734) | (282,870) | (511,339) | (396,719) |
| Provision for (benefit from) income taxes | 47,775 | 40,151 | 93,811 | 55,550 |
| Net loss | $(290,509) | $(323,021) | $(605,150) | $(452,269) |
| Net loss attributable to common stockholders, basic | $(290,509) | $(338,617) | $(633,872) | $(467,865) |
| Net loss attributable to common stockholders, diluted | $(290,509) | $(338,617) | $(660,717) | $(467,865) |
| Net loss per share attributable to common stockholders, basic | $(0.60) | $(1.62) | $(1.73) | $(2.23) |
| Net loss per share attributable to common stockholders, diluted | $(0.60) | $(1.62) | $(1.79) | $(2.23) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic | 486,591 | 209,626 | 366,765 | 209,560 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted | 486,591 | 209,626 | 368,607 | 209,560 |
(a)Refer to Note 14—Related-Party Transactions for further information on related party arrangements.
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