CoreWeave Inc. (NASDAQ: CRWV) reported its first quarterly earnings as a public company on May 14, 2025, showcasing significant growth alongside notable financial challenges.
Q1 2025 Financial Highlights
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Revenue: $981.6 million, a 420% increase year-over-year, surpassing analyst expectations of approximately $857 million.
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Net Loss: $314.6 million, or $1.49 per share, exceeding the anticipated loss of $0.16 per share.
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Adjusted EBITDA: $606.1 million, up 480% year-over-year, with a margin of 62%.
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Operating Expenses: $1.01 billion, a 487% increase from the previous year.
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Interest Expense: $263.8 million, reflecting substantial debt incurred to support rapid expansion.
Strategic Developments
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Revenue Backlog: $25.9 billion, including a significant $11.2 billion deal with OpenAI, indicating strong future revenue streams.
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Infrastructure Expansion: Active power capacity increased to 420 MW, with contracted power reaching 1.6 GW, underscoring the company's commitment to scaling its AI infrastructure.
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IPO Performance: Since its IPO at $40 per share in March 2025, CoreWeave's stock has risen over 65%, reflecting investor confidence in its growth trajectory
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