CRWV Q1 2025 Earnings
Reported May 14, 2025 at 4:06 PM ET · SEC Source
Q1 25 EPS
$-1.49
MISS 1,141.67%
Est. $-0.12
Q1 25 Revenue
$981.6M
vs S&P Since Q1 25
+69.5%
BEATING MARKET
CRWV +91.5% vs S&P +22.0%
Market Reaction
Did CRWV Beat Earnings? Q1 2025 Results
CoreWeave's debut earnings report as a public company told a tale of two narratives: explosive top-line growth shadowed by a deeper-than-expected loss. The AI cloud infrastructure provider posted Q1 2025 revenue of $981.63 million, up 420.3% year-ove… Read more CoreWeave's debut earnings report as a public company told a tale of two narratives: explosive top-line growth shadowed by a deeper-than-expected loss. The AI cloud infrastructure provider posted Q1 2025 revenue of $981.63 million, up 420.3% year-over-year, as hyperscaler-scale demand for GPU compute continued to accelerate. Yet the bottom line jarred investors, CoreWeave reported a loss of $1.49 per diluted share, missing the consensus estimate of -$0.12 by 1,141.67%, with the gap driven largely by $177 million in stock-based compensation triggered by IPO-related vesting conditions. The company's March IPO, which raised approximately $1.40 billion in net proceeds, itself catalyzed the charge. Despite the GAAP shortfall, adjusted EBITDA reached $606.13 million at a 62% margin, signaling underlying operational momentum. A landmark $11.20 billion contract expansion with OpenAI pushed total revenue backlog to $25.90 billion, offering substantial forward visibility, momentum that has already sent shares sharply higher amid heavy short interest in the stock ahead of upcoming quarterly results.
Key Takeaways
- • 420% year-over-year revenue growth driven by accelerating demand for AI cloud infrastructure
- • Adjusted EBITDA margin expanded to 62% from 55% year-over-year
- • Revenue backlog of $25.9 billion as of March 31, 2025
- • Rapid scaling of infrastructure to approximately 420 MW of active power and 1.6 GW of contracted power
CRWV YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
“We've delivered an outstanding start to 2025 on multiple fronts. Our strong first quarter financial performance caps a string of milestones including our IPO, our major strategic deal with OpenAI as well as other customer wins, our acquisition of Weights & Biases and many technical achievements.”
— Michael Intrator, Q1 2025 Earnings Press Release
CRWV Earnings Trends
CRWV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CRWV EPS Trend
Earnings per share: estimate vs actual
CRWV Revenue Trend
Quarterly revenue: estimate vs actual
CRWV Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $-0.68 | $-0.89 | -30.88% | $1.57B | — |
| FY Full Year | $-2.58 | $-2.81 | -9.10% | $5.13B | +0.32% |
| Q3 25 MISS | $-0.22 | $-0.22 | -1.29% | $1.36B | +9.64% |
| Q2 25 MISS | $-0.21 | $-0.60 | -189.72% | $1.21B | +12.15% |
| Q1 25 MISS | $-0.12 | $-1.49 | -1,141.67% | $981.6M | — |