The earnings call reflects a company in transition, making strategic infrastructure investments and aligning with CoreWeave to capitalize on AI demand. Despite revenue and EBITDA challenges, Core Scientific demonstrates strong progress in expanding capabilities and securing a leading market position.

Company Guidance

In the Core Scientific earnings call for the first quarter of fiscal year 2025, the company provided guidance on several key metrics and strategic initiatives. Core Scientific is focusing on diversifying its customer base and executing on its contracts with CoreWeave, with a goal to expand its billable capacity to 590 megawatts by early 2027. The company is also working to reduce CoreWeave's representation to less than 50% of its billable capacity by the end of 2028. The strategic partnership with CoreWeave is crucial, with CoreWeave funding almost all of the capital expenditures for these deployments, allowing Core Scientific to maintain a light balance sheet leverage and use debt strategically for future growth. The company reported a total revenue of $79.5 million for the quarter, a decrease of 16% sequentially, and an adjusted EBITDA of negative $6.1 million, primarily due to mining disconnections and relocations. Core Scientific plans to add approximately 300 megawatts of billable capacity across existing sites by the end of 2027 and aims to expand into new geographies, targeting an additional 400 megawatts of buildable capacity through new site development over the next three years.

Strategic Partnership with CoreWeave

CoreWeave contracts are foundational, with CoreWeave funding virtually all of the capital investment on deployments, keeping balance sheet leverage light and providing strategic flexibility.

Construction Progress and Capability Expansion

Significant progress in advancing 570 megawatts of billable capacity for CoreWeave, with notable achievements at the Denton facility, expected to be one of the largest GPU clusters in North America.

Strong Market Position in AI Infrastructure

Core Scientific positions itself as a leading provider of high-density infrastructure for AI workloads, leveraging dislocation in the market where traditional providers struggle to meet new demands.

Positive Large Enterprise Demand

Emerging demand from large enterprises for AI infrastructure, with potential deployments ranging from 50 to 100 megawatts, offering attractive return profiles.

Financial Strategy and Liquidity

$780 million liquidity position with minimal capital outlay on CoreWeave contracts, enabling strategic growth through traditional project financing structures.

Core Scientific Inc (CORZ) Earnings, Revenues Date & History

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CORZ Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	-0.07 / -	-1.557	―	―	―
Aug 08, 2025	2025 (Q2)	-0.07 / -0.04	-4.51	99.11% (+4.47)	―	―
May 07, 2025	2025 (Q1)	-0.12 / 1.25	0.746	67.56% (+0.50)
Feb 26, 2025	2024 (Q4)	-0.09 / -0.60	-0.51	-17.65% (-0.09)
Nov 06, 2024	2024 (Q3)	-0.09 / -1.56	-0.02	-7685.00% (-1.54)
Aug 07, 2024	2024 (Q2)	<0.01 / -4.51	-0.025	-17940.00% (-4.48)
May 08, 2024	2024 (Q1)	0.14 / 0.75	-0.031	2506.45% (+0.78)
Mar 12, 2024	2023 (Q4)	0.07 / -0.51	-1.159	56.00% (+0.65)
Aug 11, 2022	2022 (Q2)	- / -2.49	-0.129	-1833.33% (-2.37)	―	―
May 12, 2022	2022 (Q1)	- / -1.52	0.115	-1418.26% (-1.63)	―	―

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

CORZ Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 08, 2025	$14.41	$14.53	+0.83%
May 07, 2025	$8.90	$9.45	+6.18%
Feb 26, 2025	$10.02	$10.71	+6.89%
Nov 06, 2024	$14.33	$16.46	+14.86%

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.