CoreWeave Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), CoreWeave Inc. reported revenue of $5.1B and net income of ($1.2B).
| Line item | Dec 31, 2025 · FY |
|---|---|
| Revenue | $5.1B |
| Cost of revenue | $1.5B |
| Technology and infrastructure | $2.9B |
| Sales and marketing | $144.0M |
| General and administrative | $651.0M |
| Total operating expenses | $5.2B |
| Operating income (loss) | ($46.0M) |
| Gain (loss) on fair value adjustments | $27.0M |
| Interest expense, net | ($1.2B) |
| Other income, net | $33.0M |
| Loss before income taxes | ($1.2B) |
| Provision for (benefit from) income taxes | ($48.0M) |
| Net loss and comprehensive loss | ($1.2B) |
| Net loss attributable to common stockholders, basic | ($1.2B) |
| Net loss attributable to common stockholders, diluted | ($1.2B) |
| Net loss per share attributable to common stockholders, basic (in usd per share ) | -$2.75 |
| Net loss per share attributable to common stockholders, diluted (in usd per share ) | -$2.81 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | $435000000.00 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | $436000000.00 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $2.6B | $2.1B | $1.4B | $1.2B |
| Cost of revenue | $879.0M | $716.0M | $368.8M | $312.7M |
| Technology and infrastructure | $1.5B | $1.3B | $747.5M | $669.9M |
| Sales and marketing | $60.0M | $69.0M | $44.6M | $36.8M |
| General and administrative | $178.0M | $164.0M | $151.9M | $174.2M |
| Total operating expenses | $2.6B | $2.2B | $1.3B | $1.2B |
| Operating income (loss) | ($49.0M) | ($144.0M) | $51.9M | $19.2M |
| Gain (loss) on fair value adjustments | $0 | $0 | $0 | $0 |
| Interest expense, net | ($640.0M) | ($536.0M) | ($310.6M) | ($267.0M) |
| Other income (expense), net | $125.0M | $24.0M | $21.9M | $5.0M |
| Loss before income taxes | ($564.0M) | ($656.0M) | ($236.8M) | ($242.7M) |
| Provision for income taxes | $62.0M | $84.0M | ($126.7M) | $47.8M |
| Net loss | ($626.0M) | ($740.0M) | ($110.1M) | ($290.5M) |
| Other comprehensive loss | ($23.0M) | $5.0M | — | — |
| Total comprehensive loss | ($649.0M) | ($735.0M) | — | — |
| Net loss attributable to common stockholders, basic | ($626.0M) | ($740.0M) | ($110.1M) | ($290.5M) |
| Net loss attributable to common stockholders, diluted | ($626.0M) | ($740.0M) | ($110.1M) | ($290.5M) |
| Net loss per share attributable to common stockholders, basic (usd per share) | -$1.14 | -$1.40 | -$0.22 | -$0.60 |
| Net loss per share attributable to common stockholders, diluted (usd per share) | -$1.14 | -$1.40 | -$0.22 | -$0.60 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | $551000000.00 | $527000000.00 | $497886000.00 | $486591000.00 |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | $551000000.00 | $527000000.00 | $497886000.00 | $486591000.00 |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Cash and cash equivalents | $3.1B |
| Restricted cash and cash equivalents, current | $819.0M |
| Marketable securities | $34.0M |
| Accounts receivable, net | $3.2B |
| Prepaid expenses and other current assets | $339.0M |
| Total current assets | $7.5B |
| Restricted cash and cash equivalents, non-current | $184.0M |
| Restricted marketable securities, non-current | $0 |
| Property and equipment, net | $30.6B |
| Operating lease right-of-use assets | $8.2B |
| Intangible assets, net | $235.0M |
| Goodwill | $1.1B |
| Other non-current assets | $1.5B |
| Total assets | $49.3B |
| Accounts payable | $1.6B |
| Accrued liabilities | $5.8B |
| Debt, current | $6.7B |
| Deferred revenue, current | $1.7B |
| Operating lease liabilities, current | $427.0M |
| Finance lease liabilities, current | $38.0M |
| Other current liabilities | $162.0M |
| Total current liabilities | $16.4B |
| Debt, non-current | $14.7B |
| Derivative and warrant liabilities | $1.0M |
| Deferred revenue, non-current | $6.5B |
| Operating lease liabilities, non-current | $7.8B |
| Finance lease liabilities, non-current | $216.0M |
| Deferred tax liabilities, non-current | $115.0M |
| Other non-current liabilities | $286.0M |
| Total liabilities | $46.0B |
| Redeemable convertible preferred stock, $0.000005 par value per share, no and 206 shares authorized as of December 31, 2025 and 2024, respectively; no and 185 shares issued and outstanding as of December 31, 2025 and 2024, respectively | $0.00 |
| Preferred stock, $0.000005 par value per share, 100 and no shares authorized as of December 31, 2025 and 2024, respectively; no shares issued and outstanding as of December 31, 2025 and 2024 | $0.00 |
| Common stock | $0 |
| Treasury stock, at cost, 7 shares as of December 31, 2025 and 2024 | -34.0M |
| Additional paid-in capital | $6.0B |
| Accumulated deficit | ($2.6B) |
| Total stockholders' equity (deficit) | $3.3B |
| Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) | $49.3B |
| Treasury stock (in shares) | 7.0M |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $5.5B | $2.2B | $1.9B | $1.2B |
| Restricted cash and cash equivalents, current | $873.0M | $777.0M | $596.8M | $560.2M |
| Marketable securities | $15.0M | $22.0M | $47.4M | — |
| Accounts receivable, net | $2.5B | $2.1B | $1.7B | $1.9B |
| Prepaid expenses and other current assets | $567.0M | $446.0M | $533.4M | $299.2M |
| Total current assets | $9.5B | $5.6B | $4.7B | $3.9B |
| Restricted cash and cash equivalents, non-current | $507.0M | $299.0M | $477.5M | $340.5M |
| Property and equipment, net | $46.7B | $36.4B | $20.7B | $16.6B |
| Operating lease right-of-use assets | $16.6B | $10.2B | $4.7B | $3.4B |
| Intangible assets, net | $245.0M | $224.0M | $200.0M | $205.9M |
| Goodwill | $1.1B | $1.1B | $830.0M | $813.0M |
| Other non-current assets | $2.4B | $1.7B | $1.3B | $924.3M |
| Total assets | $77.1B | $55.6B | $32.9B | $26.2B |
| Accounts payable | $3.6B | $3.4B | $1.2B | $1.2B |
| Accrued liabilities | $6.4B | $2.7B | $3.2B | $1.4B |
| Recourse debt, current | $6.2B | — | — | — |
| Non-recourse debt, current | $1.3B | — | — | — |
| Deferred revenue, current | $2.7B | $2.1B | $1.1B | $951.3M |
| Operating lease liabilities, current | $584.0M | $487.0M | $345.5M | $279.1M |
| Finance lease liabilities, current | $7.0M | $23.0M | $49.0M | $60.4M |
| Other current liabilities | $70.0M | $1.5B | $171.4M | $53.0K |
| Total current liabilities | $20.9B | $17.8B | $9.7B | $7.6B |
| Recourse debt, non-current | $25.2B | — | — | — |
| Non-recourse debt, non-current | $2.4B | — | — | — |
| Deferred revenue, non-current | $7.0B | $5.4B | $4.2B | $3.9B |
| Operating lease liabilities, non-current | $15.7B | $9.6B | $4.4B | $3.2B |
| Finance lease liabilities, non-current | $214.0M | $215.0M | $12.0K | $3.1M |
| Deferred tax liabilities, non-current | $256.0M | $194.0M | $117.6M | $245.7M |
| Other non-current liabilities | $363.0M | $319.0M | $268.4M | $126.3M |
| Total liabilities | $72.0B | $50.8B | $29.0B | $22.4B |
| Preferred stock | $0 | $0 | $0 | $0 |
| Common stock | $0 | $0 | $2.0K | $2.0K |
| Treasury stock, at cost | ($34.0M) | ($34.0M) | ($33.5M) | ($33.5M) |
| Additional paid-in capital | $9.1B | $8.2B | $6.1B | $4.8B |
| Accumulated other comprehensive loss | ($18.0M) | $5.0M | ($1.3M) | ($271.0K) |
| Accumulated deficit | ($4.0B) | ($3.4B) | ($2.2B) | ($2.1B) |
| Total stockholders' equity | $5.0B | $4.8B | $3.9B | $2.7B |
| Total liabilities and stockholders' equity | $77.1B | $55.6B | $32.9B | $26.2B |
| Line item | Dec 31, 2025 · FY |
|---|---|
| Net loss | ($1.2B) |
| Depreciation and amortization | $2.5B |
| Amortization of debt discounts and issuance costs and accretion of redemption premiums | $110.0M |
| Stock-based compensation expense | $630.0M |
| Non-cash lease expense | $357.0M |
| Deferred income taxes | ($53.0M) |
| Loss (gain) on fair value adjustments | ($27.0M) |
| Debt extinguishment loss | $19.0M |
| Other non-cash reconciling items | $103.0M |
| Accounts receivable | ($2.7B) |
| Prepaid expenses and other assets | ($784.0M) |
| Accounts payable and accrued expenses | $253.0M |
| Deferred revenue | $4.2B |
| Lease liabilities | ($262.0M) |
| Other liabilities | $0 |
| Net cash provided by operating activities | $3.1B |
| Purchase of property and equipment, including capitalized internal-use software | ($10.3B) |
| Purchases of marketable securities | ($47.0M) |
| Maturities and sales of marketable securities | $43.0M |
| Sales of warrants received as lease incentive | $254.0M |
| Business combinations, net of cash acquired | ($108.0M) |
| Issuance of notes receivable | ($90.0M) |
| Other investing activities | ($14.0M) |
| Net cash used in investing activities | ($10.3B) |
| Proceeds from issuance of debt, net | $11.8B |
| Repayments of debt | ($3.4B) |
| Purchase of capped calls related to convertible senior notes | ($340.0M) |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $1.5B |
| Redeemable convertible preferred stock cash dividends paid | ($29.0M) |
| Issuance of redeemable convertible preferred stock, net of issuance costs | $0 |
| Payment of tax withholdings on settlement of restricted stock units | ($144.0M) |
| Proceeds from exercise of stock options | $20.0M |
| Proceeds from issuance of common stock | $0 |
| Other financing activities | ($120.0M) |
| Net cash provided by financing activities | $9.3B |
| Net increase in cash, cash equivalents, and restricted cash | $2.1B |
| Cash, cash equivalents, and restricted cash—beginning of period | $2.0B |
| Cash, cash equivalents, and restricted cash—end of period | $4.1B |
| Cash paid for interest, net of capitalized amounts | $869.0M |
| Liabilities related to property and equipment additions, including OEM financed additions | $11.2B |
| Operating lease right-of-use assets acquired through lease liability | $5.8B |
| Finance lease right-of-use assets acquired through lease liability | $343.0M |
| Warrants received as lease incentive | $222.0M |
| Conversion of redeemable convertible preferred stock in connection with initial public offering | $1.7B |
| Reclassification of redeemable Class A common stock to Class A common stock | $1.2B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net loss | ($1.4B) | ($740.0M) | ($715.3M) | ($605.1M) |
| Depreciation and amortization | $2.5B | $1.1B | $1.6B | $1.0B |
| Amortization of debt discounts and issuance costs and accretion of redemption premiums | $86.0M | $41.0M | $87.8M | $66.7M |
| Stock-based compensation expense | $318.0M | $153.0M | $473.4M | $329.0M |
| Non-cash lease expense | $365.0M | $167.0M | $233.8M | $144.1M |
| Deferred income taxes | $140.0M | $79.0M | ($37.1M) | $90.9M |
| Gain on fair value adjustments | $0 | $0 | ($26.8M) | ($26.8M) |
| Other non-cash reconciling items | $97.0M | $121.0M | $49.4M | $40.1M |
| Accounts receivable | $607.0M | $1.0B | ($1.3B) | ($1.5B) |
| Prepaid expenses and other assets | ($611.0M) | ($471.0M) | ($171.0M) | ($120.4M) |
| Accounts payable and accrued expenses | $304.0M | $960.0M | $333.2M | ($289.2M) |
| Deferred revenue | $1.4B | $575.0M | $1.4B | $742.9M |
| Lease liabilities | ($182.0M) | ($90.0M) | ($181.1M) | ($110.5M) |
| Net cash provided by (used in) operating activities | $3.7B | $3.0B | $1.5B | ($190.1M) |
| Purchase of property and equipment, including capitalized internal-use software | ($14.1B) | ($7.7B) | ($6.2B) | ($3.9B) |
| Maturities and sales of marketable securities | $18.0M | $12.0M | $29.3M | $29.3M |
| Investments related to joint ventures | ($550.0M) | — | — | — |
| Purchase of strategic investments | ($138.0M) | — | $0 | $0 |
| Sales of warrants received as lease incentive | $0 | — | $100.6M | $100.6M |
| Issuance of notes receivable | $0 | $0 | ($73.0M) | ($73.0M) |
| Business combination, net of cash acquired | $0 | — | ($55.9M) | ($45.7M) |
| Other investing activities | ($87.0M) | ($25.0M) | ($49.8M) | ($26.1M) |
| Net cash used in investing activities | ($14.9B) | ($7.7B) | ($6.3B) | ($3.9B) |
| Proceeds from issuance of debt, net | $16.7B | $3.3B | $7.6B | $4.4B |
| Repayments of debt | ($5.2B) | ($1.3B) | ($3.0B) | ($1.6B) |
| Purchase of capped calls related to convertible senior notes | ($492.0M) | — | — | — |
| Issuance of common stock in private placements, net of issuance costs | $3.0B | $2.0B | — | — |
| Payment of tax withholdings on settlement of restricted stock units | $0 | $0 | ($144.0M) | ($132.6M) |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $0 | $0 | $1.4B | $1.4B |
| Redeemable convertible preferred stock cash dividends paid | $0 | $0 | ($28.7M) | ($28.7M) |
| Other financing activities | ($33.0M) | ($26.0M) | ($64.9M) | ($44.1M) |
| Net cash provided by financing activities | $14.0B | $3.9B | $5.8B | $4.1B |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $2.8B | ($810.0M) | $932.9M | $17.8M |
| Cash, cash equivalents, and restricted cash—beginning of period | $4.1B | $4.1B | $2.0B | $2.0B |
| Cash, cash equivalents, and restricted cash—end of period | $6.9B | $3.3B | $3.0B | $2.1B |
| Cash paid for interest, net of capitalized amounts | $806.0M | $364.0M | $557.1M | $361.6M |
| Liabilities related to property and equipment additions, including OEM financed additions | $9.8B | $4.6B | $4.8B | $2.1B |
| Reclassification of liabilities related to property and equipment additions to debt upon execution of OEM financing arrangements | $1.5B | $1.5B | — | — |
| Operating lease right-of-use assets acquired through lease liability | $8.4B | $2.0B | $2.3B | $968.6M |
| Conversion of convertible promissory notes | $195.0M | — | $0 | — |
| Conversion of redeemable convertible preferred stock in connection with initial public offering | $0 | $0 | $1.7B | $1.7B |
| Issuance of common stock, restricted stock units, and restricted stock awards for business combinations | 0 | — | 938.9M | 928.9M |
| Issuance of common stock for contract incentive | $0 | $0 | $350.0M | $350.0M |
| Reclassification of warrant liabilities to equity | $0 | $0 | $172.8M | $172.8M |
| Reclassification of customer deposit to debt | $0 | $0 | $230.2M | $230.2M |
CoreWeave Inc. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.