The earnings call highlighted significant revenue growth, strong contracted backlog, and successful capital market activities, reflecting a robust demand environment. However, it also noted an adjusted net loss and increased interest expenses due to infrastructure scaling.

Company Guidance

During the second quarter of 2025, CoreWeave, Inc. reported impressive growth, with revenue increasing 107% year over year to $1.2 billion and achieving an adjusted operating income of $200 million. This quarter marked the first time the company surpassed both $1 billion in revenue and $200 million in adjusted operating income. The company ended the quarter with a contracted backlog of $30.1 billion, up $4 billion from the first quarter, indicating strong demand across various sectors including media, finance, and healthcare. The company also highlighted a significant increase in its active power capacity, closing at 470 megawatts, and plans to reach over 900 megawatts by the end of the year. Additionally, the company's capital expenditures hit $2.9 billion as it rapidly scales its infrastructure to meet the demand for AI cloud services. CoreWeave raised $6.4 billion in capital through various offerings, reducing its cost of capital and securing its position in the market. The guidance for the third quarter projects revenue between $1.26 billion and $1.3 billion, with full-year 2025 revenue expected to reach between $5.15 billion and $5.35 billion, highlighting the company's robust growth trajectory and strategic positioning in the AI cloud services sector.

Record Revenue Growth

Revenue grew 107% year over year to $1.2 billion in Q2, marking the first quarter with over $1 billion in revenue and $200 million in adjusted operating income.

Strong Contracted Backlog

The company ended Q2 with $30.1 billion in contracted backlog, up $4 billion from Q1 and doubling year to date. This includes a $4 billion expansion with OpenAI.

Increased Capacity and Power

Active power increased to nearly 470 megawatts, with plans to deliver over 900 megawatts by year-end. Total contracted power rose to 2.2 gigawatts.

Successful Capital Market Activities

CoreWeave raised $6.4 billion in capital markets through two high-yield offerings, lowering their cost of capital and securing over $25 billion since 2024.

Proposed Acquisition of Core Scientific

Expected to drive $500 million in fully ramped annual run rate cost savings by 2027 and eliminate over $10 billion in future lease liability overhead.

CoreWeave (CRWV) Earnings, Revenues Date & History

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CRWV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	-0.36 / -	-0.894	―	―	―
Aug 12, 2025	2025 (Q2)	-0.23 / -0.27	-0.73	62.74% (+0.46)
May 14, 2025	2025 (Q1)	-0.12 / -0.83	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CRWV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 12, 2025	$148.75	$117.76	-20.83%
May 14, 2025	$67.46	$65.77	-2.51%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.