CoreWeave 2025 Q3 Earnings Revenue Surges 133.7% as Net Loss Narrows 69.4%

CoreWeave (CRWV) reported fiscal 2025 Q3 earnings on November 14, 2025, with revenue surging 133.7% to $1.36 billion year-over-year. The company narrowed its net loss to $110.12 million, a 69.4% improvement from $359.81 million in 2024 Q3, while also reducing its per-share loss to $0.22 from $1.82. However, shares fell sharply post-earnings amid revised 2025 revenue guidance and operational delays.

Revenue

The total revenue of CoreWeave increased by 133.7% to $1.36 billion in 2025 Q3, up from $583.94 million in 2024 Q3.

Earnings/Net Income

CoreWeave narrowed losses to $0.22 per share in 2025 Q3 from a loss of $1.82 per share in 2024 Q3 (87.9% improvement). Meanwhile, the company successfully narrowed its net loss to $-110.12 million in 2025 Q3, reducing losses by 69.4% compared to the $-359.81 million net loss reported in 2024 Q3. The significant reduction in net loss reflects improved operational efficiency and cost management.

Price Action

The stock price of CoreWeave has dropped 7.16% during the latest trading day, has plummeted 26.74% during the most recent full trading week, and has plummeted 41.56% month-to-date.

Post-Earnings Price Action Review

CoreWeave’s stock fell sharply after the AI cloud provider exceeded third-quarter revenue expectations but revised its full-year outlook lower due to delays at a third-party data-center partner. The stock’s decline was driven by timing risks in revenue recognition, margin pressures from rising costs, and a compressed expectations premium following its rapid year-to-date gains. Investors are now scrutinizing the company’s ability to execute on capacity expansion and maintain margin durability amid rising capital expenditures.

CEO Commentary

In the earnings call, CEO Chad Moore highlighted CoreWeave’s “blistering revenue growth and disciplined cost management,” emphasizing strong demand for AI infrastructure. He outlined strategic priorities to accelerate energization of partner facilities and optimize GPU utilization. Moore expressed confidence in the company’s long-term positioning, stating, “Our multi-year customer contracts and industry-leading margins will drive sustainable value creation.”

Guidance

Management trimmed 2025 revenue guidance to $5.05–$5.15 billion from $5.15–$5.35 billion, citing delayed energization at a third-party site. Active power capacity is now projected at 850+ MW (down from ~900 MW). For 2026, capital expenditures are expected to reach $12–$14 billion to support further deployment, underscoring long-term demand confidence.

Additional News

CoreWeave received a new Buy rating from Compass Point with a $150 price target, while multiple firms adjusted their targets downward in late November. Additionally, VP Goldberg sold 13,740 shares ($1.2M) via a prearranged trading plan. The stock’s sharp post-earnings decline followed guidance cuts tied to data-center delays, highlighting execution risks for the AI infrastructure provider.