CoreWeave Q4 2025 revenue $1.57 billion; Q1 guide and capex plan weigh on shares

CoreWeave reported fourth-quarter 2025 revenue of $1.57 billion, up about 110% from a year earlier, with a GAAP net loss of $452 million. Backlog rose to $66.8 billion, and full-year 2026 revenue was guided to $12 billion to $13 billion. First-quarter revenue guidance of $1.9 billion to $2.0 billion sat well below the Street's roughly $2.29 billion, and shares fell more than 9% in late trading.

• Q4 2025 revenue about $1.57 billion, up about 110% year over year
• Q4 2025 GAAP net loss $452 million
• Revenue backlog $66.8 billion
• 2026 revenue guidance $12 billion to $13 billion; Q1 2026 guidance $1.9 billion to $2.0 billion
• 2026 capital expenditure guided to $30 billion to $35 billion

SEC filing 8-K · accession 0001769628-26-000094 · sec.gov ↗