Filing Flows › Core Scientific, Inc./tx (CORZ) › Q4 2025
Core Scientific, Inc./tx (CORZ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 2, 2026
Core Scientific, Inc./tx (CORZ) reported revenue of $79.8M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and -2% from the quarter before. Operating margin was -147.3%, net earnings $216M (270.8% of revenue).
Core Scientific, Inc./tx, Q4 2025: revenue $79.8M (-16% year over year), operating margin -147.3%, net earnings $216M, operating cash flow $158M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.8M | -2% | -16% |
| Operating profit | −$117M | — | — |
| Net earnings | $216M | — | — |
| Operating cash flow | $158M | +20% | 11× |
What changed
Revenue was $79.8M in Q4 2025, down 16% year over year and down 2% from the previous quarter.
Gross margin was 26.0%, up 21.0 points from a year earlier. Operating costs exceeded revenue by $117.5M, an operating margin of -147.3%. Operating expenses grew 97% against a revenue fall of 16%. Net earnings were $216.0M. The effective tax rate was 0.0%. Non-operating items added $333.5M, 154% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $157.5M (up 1041% year over year), 73% of net earnings. Non-cash charges added back $14.1M of depreciation and amortization and $27.9M of share-based compensation. Working capital and other items used $100.5M. Capital expenditures of $279.2M exceeded it, leaving free cash flow of −$121.7M.
Questions
What was Core Scientific, Inc./tx's revenue in the fourth quarter 2025?
Core Scientific, Inc./tx (CORZ) reported revenue of $79.8M for the fourth quarter 2025 (Q4 2025), -16% from a year earlier and -2% from the quarter before.
Was Core Scientific, Inc./tx profitable in the fourth quarter 2025?
Operating loss was $117M (-147.3% of revenue) and net earnings $216M.