CoreWeave (CRWV) Q3 earnings report 2025
Michael Intrator, co-founder and CEO of CoreWeave, speaks at the Semaphore World Economic Summit during the International Monetary Fund and World Bank Spring meetings in Washington on April 25, 2025.
Kent Nishimura | Bloomberg | Getty Images
CoreWeaveThe infrastructure provider for artificial intelligence companies reported better-than-expected third-quarter revenue on Monday, but the company delivered a disappointing full-year revenue forecast. Shares lost up to 7% in extended trading.
Here is the company’s performance compared to the LSEG consensus:
- Earning: Loss of 22 cents per share
- Revenues: 1.36 billion dollars, while the expectation was 1.29 billion dollars
Revenue in the quarter increased 134% from $583.9 million a year ago. expression. The company reported a net loss of $110 million, narrowing from about $360 million in the same quarter last year.
CoreWeave’s growth is tied directly to the AI boom as the company rents out Nvidia won business from graphics processing units and leading cloud infrastructure providers; Google And Microsoft. According to the statement, the company’s accumulated power has now increased to $55.6 billion, with 2.9 gigawatts of contracted power, up from 2.2 gigawatts on June 30.
During the quarter, CoreWeave announced a $6.5 billion expansion of its business with OpenAI and a six-year deal with OpenAI. Meta Its value goes up to 14.2 billion dollars. CoreWeave also received its sixth contract from “a leading hyperscaler.”
CEO Mike Intrator said on the conference call that the company remains in short supply. He said the shortage was not due to electricity but rather to the availability of partially completed “hardened shell” data centers where CoreWeave could install its own equipment.
CoreWeave now forecasts 2025 revenue to be between $5.05 billion and $5.15 billion. Analysts surveyed by LSEG were expecting $5.29 billion.
Intrator said a third-party data center developer is running behind schedule, but the delay won’t impact CoreWeave’s backlog.
“There was an issue affecting us in one data center, but we have 32 data centers in our portfolio,” Intrator said.
Meanwhile, CoreWeave is building its own data center infrastructure from scratch in Pennsylvania, he said.
“What you will see is our ability to accelerate from the year-ago schedule,” Intrator said. “So the majority of the delay you’re seeing should be taken care of in the first quarter of next year.”
CoreWeave went public on Nasdaq in March, selling for $40 per share. On Monday, the stock closed at $105.61, representing a return of 164%. Nasdaq gained 32% in a similar period. CoreWeave shares fell in extended trading Monday.
Less than four months after its IPO, CoreWeave announced its intention to acquire the data center infrastructure operator Basic Scientific for $9 billion, but Core Scientific shareholders voted against the proposed deal.
CoreWeave’s 2026 capital expenditures should be “more than double” the 2025 total, which should be between $12 billion and $14 billion, the company’s finance chief Nitin Agrawal said.
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