CRWV Q2 2025 Earnings
Reported Aug 12, 2025 at 4:06 PM ET · SEC Source
Q2 25 EPS
$-0.60
MISS 189.72%
Est. $-0.21
Q2 25 Revenue
$1.21B
BEAT +12.15%
Est. $1.08B
vs S&P Since Q2 25
-22.5%
TRAILING MARKET
CRWV -10.8% vs S&P +11.7%
Market Reaction
Did CRWV Beat Earnings? Q2 2025 Results
CoreWeave delivered a tale of two metrics in Q2 2025, posting record revenue of $1.21 billion, up 206.8% year-over-year and 12.15% ahead of the $1.08 billion consensus, while its bottom line fell sharply short, with a loss of $0.60 per share against … Read more CoreWeave delivered a tale of two metrics in Q2 2025, posting record revenue of $1.21 billion, up 206.8% year-over-year and 12.15% ahead of the $1.08 billion consensus, while its bottom line fell sharply short, with a loss of $0.60 per share against analyst expectations of -$0.21, a miss of 189.72% that rattled investors already bracing for the expiration of the company's IPO lock-up period. The earnings gap traced directly to CoreWeave's heavily leveraged capital structure: $266.97 million in net interest expense drove the quarter's $290.51 million net loss despite the company swinging to positive GAAP operating income of $19.21 million. The strategic picture, however, remained compelling, a $4.00 billion OpenAI contract expansion, a $30.10 billion revenue backlog, and the addition of major enterprise clients signaled durable demand for AI cloud infrastructure. With total contracted power rising to 2.2 GW and a new 250 MW data center campus under development in New Jersey, investors watching how the next quarter shapes up will be scrutinizing whether operating leverage can finally outrun the company's debt burden.
Key Takeaways
- • Unprecedented demand for AI infrastructure driving rapid revenue growth
- • Expansion of key customer relationships including $4 billion OpenAI expansion deal
- • Rapid scaling of data center infrastructure to approximately 470 MW of active power
- • Revenue backlog of $30.1 billion providing strong visibility
CRWV YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
“Our strong second quarter performance demonstrates continued momentum across every dimension of our business. We are scaling rapidly as we look to meet the unprecedented demand for AI. Our purpose-built AI cloud platform continues to set new benchmarks for performance and scalability including becoming the first company to offer the complete Blackwell GPU portfolio at scale, making CoreWeave the platform of choice for the world's most advanced AI workloads and AI pioneers.”
— Michael Intrator, Q2 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 | — |