Filing Flows › CoreWeave (CRWV) › Q3 2025
CoreWeave (CRWV) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 13, 2025
CoreWeave (CRWV) reported revenue of $1.4B for the third quarter 2025 (Q3 2025), +134% from a year earlier and +13% from the quarter before. Operating margin was 3.8%, net loss $110M (8.1% of revenue).
CoreWeave, Q3 2025: revenue $1.4B (+134% year over year), operating margin 3.8%, net loss $110M, operating cash flow $1.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.4B | +13% | +134% |
| Operating profit | $51.9M | — | — |
| Net earnings | −$110M | — | — |
| Operating cash flow | $1.7B | — | +163% |
What changed
Revenue was $1.4B in Q3 2025, up 134% year over year and up 13% from the previous quarter.
Operating profit was $0.05B, a 3.8% margin (down 16.3 points year over year). Operating profit fell $0.07B even though revenue rose $0.78B versus a year earlier, so costs grew faster than sales. Total costs grew 181% against revenue growth of 134%. The fastest-growing cost line was Sales & marketing (+880%). The quarter ended with a net loss of $0.11B, narrower than the previous quarter's $0.29B loss. Net interest and other expense of $0.29B was the main reason.
Operating cash flow was $1.7B (up 163% year over year). Non-cash charges added back $0.63B of depreciation and amortization and $0.14B of share-based compensation. Working capital and other items added $1.0B. Capital expenditures of $2.4B exceeded it, leaving free cash flow of −$0.70B.
Questions
What was CoreWeave's revenue in the third quarter 2025?
CoreWeave (CRWV) reported revenue of $1.4B for the third quarter 2025 (Q3 2025), +134% from a year earlier and +13% from the quarter before.
Was CoreWeave profitable in the third quarter 2025?
Operating profit was $51.9M (3.8% of revenue) and net loss $110M.
Source: CoreWeave 10-Q on SEC EDGAR.