CoreWeave Reports Strong First Quarter 2025 Results

About this update from Coreweave, Inc.

[{"type":"text","content":"Growth Driven by Accelerating Demand for CoreWeave's Purpose-built AI Platform\nLIVINGSTON, N.J., May 14, 2025 /PRNewswire/ -- CoreWeave, Inc. (Nasdaq: CRWV), the AI Hyperscaler™, today reported financial results for the first quarter ended March 31, 2025.\n\n \n \n \n \n \n \n\n \n\"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,\" said Michael Intrator, CoreWeave's co-founder and Chief Executive Officer. \"Demand for our platform is robust and accelerating as AI leaders seek the highly performant AI cloud infrastructure required for the most advanced applications. We are scaling as fast as possible to capture that demand. The future runs on CoreWeave.\"\n\"CoreWeave's strong financial performance in Q1 highlights the large and rapidly growing opportunity,\" said Nitin Agrawal, CoreWeave's Chief Financial Officer. \"We are focused on executing, while effectively managing our capital structure to support accelerating investments in growth and maintaining flexibility to capitalize on strategic opportunities.\"\nFirst Quarter 2025 Financial Highlights\n(In thousands, except percentages and per share amounts)\nThree Months Ended March 31,\n2025\n2024\n% Change\nRevenue\n$ 981,632\n$ 188,684\n420 %\nOperating expenses*\n1,009,102\n171,837\n487 %\nOperating income (loss)*\n$ (27,470)\n$ 16,847\n(263) %\nOperating income (loss) margin*\n(3) %\n9 %\nInterest expense, net\n$ (263,835)\n$ (40,656)\n549 %\nNet loss*\n$ (314,641)\n$ (129,248)\n143 %\nNet loss margin*\n(32) %\n(68) %\nBasic net loss per share*\n$ (1.40)\n$ (0.62)\n126 %\nDiluted net loss per share*\n$ (1.49)\n$ (0.62)\n140 %\n*Includes $177 million of stock-based compensation expense for awards with a liquidity-event performance-based vesting condition which was satisfied at IPO and for which the service-based vesting condition had also been satisfied as of that date.\nNon-GAAP Measures\n(In thousands, except percentages)\nThree Months Ended March 31,\n2025\n2024\n% Change\nAdjusted EBITDA\n$ 606,131\n$ 104,546\n480 %\nAdjusted EBITDA margin\n62 %\n55 %\nAdjusted operating income\n$ 162,634\n$ 25,036\n550 %\nAdjusted operating in...

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