CoreWeave, Inc.

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

About 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.

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Contents

Condensed Consolidated Statements of Comprehensive Loss

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Net loss	$(110,124)	$(359,807)	$(715,274)	$(812,076)
Other comprehensive income (loss):
Unrealized gain on available-for-sale marketable securities, net	31	73	31	158
Change in fair value of derivatives, net	(1,044)	—	(1,315)	—
Total comprehensive loss	$(111,137)	$(359,734)	$(716,558)	$(811,918)

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK, REDEEMABLE COMMON STOCK, AND STOCKHOLDERS' EQUITY (DEFICIT)

Redeemable ConvertiblePreferred Stock · Redeemable Class A CommonStock · Common Stock · TreasuryStock · AdditionalPaid-inCapital · AccumulatedOtherComprehensiveLoss · AccumulatedDeficit · TotalStockholders'Equity (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount
Balance, December 31, 2024	184,635		$1,722,111		—	$—		232,887		$1		$(33,524)		$1,096,160	$—	$(1,476,235)	$(413,598)
Series C redeemable convertible preferred stock accretion to redemption value	—	29		—	—	—	—	—	(29)		—	—	(29)
Cash dividend on Series C redeemable convertible preferred stock	—	—		—	—	—	—	—	(28,693)		—	—	(28,693)
Reclassification of warrants from liability to equity classified	—	—		—	—	—	—	—	172,808		—	—	172,808
Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and offering costs	—	—		—	—	36,590	—	—	1,391,515		—	—	1,391,515
Conversion of redeemable convertible preferred stock in connection with initial public offering	(184,635)	(1,722,140)		29,874	1,163,159	155,112	1	—	558,981		—	—	558,982
Issuance of common stock for contract incentive	—	—		—	—	8,750	—	—	350,000		—	—	350,000
Issuance of common stock upon vesting of restricted stock units	—	—		—	—	911	—	—	—		—	—	—
Tax withholdings on settlement of restricted stock units	—	—		—	—	(392)	—	—	(15,685)		—	—	(15,685)
Exercise of stock options	—	—		—	—	1,675	—	—	2,794		—	—	2,794
Stock-based compensation expense	—	—		—	—	—	—	—	202,670		—	—	202,670
Net loss	—	—		—	—	—	—	—	—		—	(314,641)	(314,641)
Balance, March 31, 2025	—		—		29,874	1,163,159		435,533		2		(33,524)		3,730,521	—	(1,790,876)	1,906,123
Issuance of common stock upon underwriters' exercise of over-allotment option, net of underwriting discounts and commissions	—		—		—	—		1,760		—		—		67,669	—	—	67,669

Issuance of common stock and restricted stock awards for business combination	—	—	—	—	19,174	—	—	928,900	—	—	928,900
Issuance of replacement restricted stock units for business combination	—	—	—	—	—	—	—	3,861	—	—	3,861
Tax withholdings on issuance of common stock and restricted stock awards for business combination	—	—	—	—	(472)	—	—	(24,332)	—	—	(24,332)
Issuance of common stock upon vesting of restricted stock units	—	—	—	—	1,811	—	—	—	—	—	—
Tax withholdings on settlement of restricted stock units	—	—	—	—	(904)	—	—	(92,541)	—	—	(92,541)
Exercise of stock options	—	—	—	—	1,275	—	—	1,744	—	—	1,744
Stock-based compensation expense	—	—	—	—	—	—	—	157,003	—	—	157,003
Other comprehensive loss	—	—	—	—	—	—	—	—	(271)	—	(271)
Net loss	—	—	—	—	—	—	—	—	—	(290,509)	(290,509)
Balance, June 30, 2025	—	—	29,874	1,163,159	458,177	2	(33,524)	4,772,825	(271)	(2,081,385)	2,657,647
Issuance of common stock and restricted stock awards for business combinations	—	—	—	—	359	—	—	9,954	—	—	9,954
Issuance of common stock upon vesting of restricted stock units	—	—	—	—	1,639	—	—	—	—	—	—
Tax withholdings on settlement of restricted stock units	—	—	—	—	(110)	—	—	(11,485)	—	—	(11,485)
Exercise of stock options	—	—	—	—	7,651	—	—	12,981	—	—	12,981
Reclassification of redeemable Class A common stock to Class A common stock	—	—	(29,874)	(1,163,159)	29,874	—	—	1,163,159	—	—	1,163,159
Stock-based compensation expense	—	—	—	—	—	—	—	156,895	—	—	156,895
Other comprehensive loss	—	—	—	—	—	—	—	—	(1,013)	—	(1,013)
Net loss	—	—	—	—	—	—	—	—	—	(110,124)	(110,124)
Balance, September 30, 2025	—	$—	—	$—	497,590	$2	$(33,524)	$6,104,329	$(1,284)	$(2,191,509)	$3,878,014

Redeemable ConvertiblePreferred Stock · Redeemable Class A CommonStock · Common Stock · TreasuryStock · AdditionalPaid-inCapital · AccumulatedOtherComprehensiveIncome (Loss) · AccumulatedDeficit · TotalStockholders'Equity (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount
Balance, December 31, 2023	154,678	$464,690		—	$—			203,520		$1		$(32,054)			$48,397		$(148)			$(612,787)		$(596,591)
Issuance of Series B redeemable convertible preferred stock	4,483	25,000	—		—		—			—	—		—		—	—		—
Closing settlement of Series B tranche option	—	69,598	—		—		—			—	—		—		—	—		—
Exercise of stock options	—	—	—		—		215			—	—		45		—	—		45
Stock-based compensation expense	—	—	—		—		—			—	—		10,181		—	—		10,181
Other comprehensive income	—	—	—		—		—			—	—		—		58	—		58
Net loss	—	—	—		—		—			—	—		—		—	(129,248)		(129,248)
Balance, March 31, 2024	159,161	559,288		—		—			203,735		1			(32,054)		58,623			(90)		(742,035)		(715,555)
Issuance of Series C redeemable convertible preferred stock, net of issuance costs of $3.0 million	29,523	1,147,476		—		—			—		—			—		—			—		—		—
Series C redeemable convertible preferred stock accretion to redemption value	—	14		—		—			—		—			—		(14)			—		—		(14)
Paid-in-kind dividend on Series C redeemable convertible preferred stock	—	15,582		—		—			—		—			—		(15,582)			—		—		(15,582)
Exercise of stock options	—	—		—		—			411		—			—		597			—		—		597
Repurchase of common stock for business combination	—	—		—		—			(2,105)		—			—		—			—		—		—
Stock-based compensation expense	—	—		—		—			—		—			—		9,608			—		—		9,608
Other comprehensive income	—	—		—		—			—		—			—		—			27		—		27
Net loss	—	—		—		—			—		—			—		—			—		(323,021)		(323,021)
Balance, June 30, 2024	188,684	1,722,360		—		—			202,041		1			(32,054)		53,232			(63)		(1,065,056)		(1,043,940)
Series C redeemable convertible preferred stock accretion to redemption value	—	29		—		—			—		—			—		(29)			—		—		(29)
Cash dividend on Series C redeemable convertible preferred stock	—	—		—		—			—		—			—		(29,331)			—		—		(29,331)
Conversion of convertible notes to common stock	—	—		—		—			24,544		—			—		1,080,295			—		—		1,080,295
Exercise of stock options	—	—		—		—			664		—			—		685			—		—		685

Redeemable ConvertiblePreferred Stock · Redeemable Class A CommonStock · Common Stock · TreasuryStock · AdditionalPaid-inCapital · AccumulatedOtherComprehensiveIncome (Loss) · AccumulatedDeficit · TotalStockholders'Equity (Deficit)
Shares · Amount · Shares · Amount · Shares · Amount
Repurchases of common stock from an employee	—	—	—	—	—	—	(1,470)	—	—	—	(1,470)
Stock-based compensation expense	—	—	—	—	—	—	—	9,497	—	—	9,497
Other comprehensive income	—	—	—	—	—	—	—	—	73	—	73
Net loss	—	—	—	—	—	—	—	—	—	(359,807)	(359,807)
Balance, September 30, 2024	188,684	$1,722,389	—	$—	227,249	$1	$(33,524)	$1,114,349	$10	$(1,424,863)	$(344,027)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.