AI and cloud-computing company CoreWeave (CRWV) stock was down over 6% in after-hours trading after reporting fourth-quarter results.
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Trade CRWV with leverageThe company posted a loss of $0.89 per share, which was much wider than the loss of $0.50 expected on Wall Street. A year earlier, CoreWeave reported a loss of $0.08 per share. Meanwhile, Q4 revenue surged 110.2% year-over-year to $1.57 billion, beating the consensus estimate of $1.53 billion.
Profitability Pressured as CoreWeave Scales
The company’s rapid expansion continues to weigh on margins. Operating expenses more than doubled to $5.18 billion for the year, resulting in a full‑year operating loss of $46 million, compared with a $324 million operating profit in 2024.
Adjusted net loss for 2025 totaled $606 million, versus $65 million in the year-ago quarter, reflecting higher interest expense tied to CoreWeave’s aggressive build‑out of AI data centers.
Massive $66.8B Revenue Backlog
Importantly, CoreWeave’s revenue backlog surged to $66.8 billion, more than 4 times higher than where it started the year. CFO Nitin Agrawal said the backlog gives the company “exceptional visibility” as it scales into 2026 and beyond.
This backlog includes long‑term commitments from AI labs, hyperscalers, and large enterprises, many of whom are racing to secure GPU capacity amid unprecedented demand for AI compute.
Is CoreWeave a Good Stock to Buy?
Turning to Wall Street, CRWV stock has a Moderate Buy consensus rating based on nine Buy and eight Hold ratings. The average CoreWeave stock price target of $118.57 implies 20.72% upside potential. It’s worth noting that estimates will likely change following today’s earnings report.
