Coreweave, Inc. income statement
In fiscal 2025, Coreweave, Inc. reported revenue of $5.13bn, up 167.9% on the year before, operating income of −$46.0m (a -0.9% margin) and net income of −$1.17bn, or −$2.81 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|
| Revenue | 229 | 1,915 | 5,131 | 7,590 |
| Cost of revenue | 69 | 493 | 1,453 | 2,473 |
| Gross profit | 160 | 1,422 | 3,678 | 5,117 |
| Research and development | 21 | 56 | 352 | 423 |
| Selling and marketing | 13 | 18 | 144 | 226 |
| General and administrative | 30 | 119 | 651 | 644 |
| Operating income | −14 | 324 | −46 | −231 |
| Interest expense | 27 | 349 | 1,148 | 1,619 |
| Income before tax | −558 | −744 | −1,215 | −1,924 |
| Income tax | 36 | 119 | −48 | 4 |
| Net income | −594 | −863 | −1,167 | −1,928 |
| Diluted EPS | −$1.54 | −$2.15 | −$2.81 | −$3.70 |
| Diluted shares (average) | 384m | 436m | 436m | 522m |
| EBITDA | 89 | 1,187 | 2,408 | 3,758 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 584 | 747 | 982 | 1,212 | 1,365 | 1,572 | 2,078 | 2,575 |
| Cost of revenue | 143 | 182 | 262 | 313 | 369 | 509 | 716 | 879 |
| Gross profit | 441 | 565 | 720 | 899 | 996 | 1,063 | 1,362 | 1,696 |
| Research and development | 14 | 21 | 70 | 80 | 93 | 109 | 104 | 117 |
| Selling and marketing | 5 | 5 | 11 | 36 | 45 | 52 | 69 | 60 |
| General and administrative | 34 | 48 | 175 | 174 | 152 | 150 | 164 | 178 |
| Operating income | 117 | 112 | −27 | 19 | 52 | −90 | −144 | −49 |
| Interest expense | 102 | 139 | 257 | 256 | 283 | 351 | 427 | 558 |
| Income before tax | −318 | −29 | −269 | −242 | −237 | −467 | −656 | −564 |
| Income tax | 42 | 22 | 46 | 48 | −127 | −15 | 84 | 62 |
| Net income | −360 | −51 | −315 | −290 | −110 | −452 | −740 | −626 |
| Diluted EPS | −$0.91 | −$0.12 | −$0.74 | −$0.60 | −$0.22 | −$0.94 | −$1.40 | −$1.14 |
| EBITDA | 370 | 477 | 416 | 572 | 673 | 731 | 1,003 | 1,351 |
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