Filing Flows › Core Scientific, Inc./tx (CORZ) › Q1 2025
Core Scientific, Inc./tx (CORZ) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Core Scientific, Inc./tx (CORZ) reported revenue of $79.5M for the first quarter 2025 (Q1 2025), -56% from a year earlier and -16% from the quarter before. Operating margin was -59.1%, net earnings $576M (724.6% of revenue).
Core Scientific, Inc./tx, Q1 2025: revenue $79.5M (-56% year over year), operating margin -59.1%, net earnings $576M, operating cash flow −$45.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.5M | -16% | -56% |
| Operating profit | −$47.0M | — | — |
| Net earnings | $576M | — | — |
| Operating cash flow | −$45.0M | — | — |
What changed
Revenue was $79.5M in Q1 2025, down 56% year over year and down 16% from the previous quarter.
Gross margin was 10.3%, down 33.0 points from a year earlier. Operating costs exceeded revenue by $47.0M, an operating margin of -59.1%. Operating expenses grew 146% against a revenue fall of 56%. The fastest-growing cost line was Other operating costs (+189%). Net earnings were $576.3M, up 174% year over year. The effective tax rate was 0.0%. Non-operating items added $623.5M, 108% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$45.0M. Non-cash charges added back $19.7M of depreciation and amortization and $16.2M of share-based compensation. Working capital and other items used $657.2M. Capital expenditures of $84.0M exceeded it, leaving free cash flow of −$129.0M.
Questions
What was Core Scientific, Inc./tx's revenue in the first quarter 2025?
Core Scientific, Inc./tx (CORZ) reported revenue of $79.5M for the first quarter 2025 (Q1 2025), -56% from a year earlier and -16% from the quarter before.
Was Core Scientific, Inc./tx profitable in the first quarter 2025?
Operating loss was $47.0M (-59.1% of revenue) and net earnings $576M.