CRWV 10-K Annual Reports

CoreWeave Annual Report, Year Ended Dec 31, 2025

CoreWeave, Inc. (CRWV) reported significant financial performance in its March 2, 2026, 10-K filing for the fiscal year ending December 31, 2025. The company experienced substantial revenue growth, reaching $5.1 billion, a 168% increase year-over-year, driven by strong demand from both new and existing customers for its AI-focused cloud infrastructure. This growth was fueled by a significant expansion in data center capacity, with the company operating 43 data centers and a total contracted power capacity of approximately 3.1 GW. Despite the robust top-line growth, CoreWeave reported a net loss of $1.2 billion for the fiscal year 2025, an increase from the $863 million loss in 2024. This was largely due to increased operating expenses, particularly in technology and infrastructure ($2.9 billion) and cost of revenue ($1.5 billion), which reflect substantial investments in expanding its platform and data center footprint. The company's substantial debt also contributed to a significant increase in interest expense to $1.2 billion. Key strategic developments included the acquisition of several AI-focused companies (Weights & Biases, OpenPipe, Marimo, and Monolith AI) in 2025, aimed at enhancing its integrated platform and developer tools. The company also completed its IPO in March 2025, raising substantial capital. CoreWeave's significant Remaining Performance Obligations (RPO) of $60.7 billion as of December 31, 2025, indicates strong future revenue visibility, supported by long-term customer commitments.