How CoreWeave (CRWV) Makes Money: A Visual Guide

CoreWeave (CRWV) generated $5.13B in revenue (TTM through Q4 2025) but reported a net loss of $1.17B. Below is an interactive breakdown of how revenue flows through the income statement.

CoreWeave (CRWV) Income Statement Flow

Frequently asked questions

How much revenue does CoreWeave (CRWV) generate?

CoreWeave (CRWV) generated $5.13B in total revenue for TTM through Q4 2025 with a net profit margin of -22.7%.

What is CoreWeave (CRWV) gross profit margin?

CoreWeave (CRWV) reported a gross profit margin of 71.7% for TTM through Q4 2025, equivalent to $3.68B in gross profit. This means CoreWeave retains 71.7% of each revenue unit after direct costs of production.

What is CoreWeave (CRWV) operating profit margin?

CoreWeave (CRWV) reported an operating profit margin of -0.9% for TTM through Q4 2025, equivalent to −$46.00M in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is CoreWeave (CRWV) net profit margin?

CoreWeave (CRWV) reported a net profit margin of -22.7% for TTM through Q4 2025, equivalent to −$1.17B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does CoreWeave (CRWV) spend on capital expenditures?

CoreWeave (CRWV) spent $10.31B on capital expenditures in TTM through Q4 2025 (200.9% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is CoreWeave (CRWV) free cash flow?

CoreWeave (CRWV) generated −$7.25B in free cash flow for TTM through Q4 2025 (-141.3% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

About this data

What is a Sankey diagram?
A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?
We use the income statement from company filings. For TTM (Trailing Twelve Months), we sum the last four quarters. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?
Based on company filings through TTM through Q4 2025.