CoreWeave (CRWV) Q1 earnings report 2026
Michael Intrator, co-founder and chief government officer of CoreWeave Inc., on the Bloomberg Tech summit in London, UK, on Tuesday, Oct. 21, 2025.
Chris J. Ratcliffe | Bloomberg | Getty Images
CoreWeave reported income for the primary quarter on Thursday that topped analysts’ estimates. The inventory rose in prolonged buying and selling.
Here’s how the corporate did compared with LSEG consensus:
- Earnings per share: Loss of $1.40. That determine will not be akin to estimates.
- Revenue: $2.08 billion vs. $1.97 billion anticipated
Revenue greater than doubled within the quarter, from $981.8 million a 12 months earlier, in accordance with a statement. Net loss widened to $740 million from $315 million, or $1.49 per share, in the identical quarter a 12 months in the past.
The firm ended the quarter with about 3.5 gigawatts of whole contracted energy.
While income is surging, working bills are rising even quicker. Technology and infrastructure prices jumped 127% within the quarter to $1.27 billion, whereas gross sales and market prices elevated greater than sixfold to $69 million.
CoreWeave has been racing prime cloud suppliers akin to amazon to open knowledge facilities filled with Nvidia graphics processing models to lease to corporations, together with OpenAI and Anthropic, which can be coaching and working synthetic intelligence fashions. CoreWeave is competing with massive and extremely worthwhile cloud corporations, and is borrowing closely within the course of to finance its knowledge middle growth.
In the primary quarter, CoreWeave mentioned it raised $8.5 billion in new debt, after saying offers with AI startups Cline and Perplexity. It’s secured greater than $20 billion in debt and fairness this 12 months, the corporate mentioned, closing the quarter with nearly $25 billion in debt.
Meanwhile, main backer Nvidia mentioned early this 12 months it bought $2 billion in further inventory in CoreWeave, which dedicated to adopting a wide range of the chipmaker’s merchandise.
As of Thursday’s shut, CoreWeave shares had climbed nearly 80% up to now in 2026, whereas the S&P 500 had gained 7%.
Executives will talk about the outcomes and concern steering on a convention name beginning at 5 pm ET.
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