CoreWeave, Inc.CRWV
NasdaqGS•Technology•Software - Infrastructure
CoreWeave, Inc. operates as a cloud infrastructure technology company in the United States. The company offers CoreWeave Cloud platform that comprises proprietary software and cloud services that deliver the automation and efficiency needed to manage complex artificial intelligence (AI) infrastructure at scale. It also offers data and storage solutions, such as Local Object Transport Accelerator; infrastructure control solutions, including CoreWeave Kubernetes service; mission control services, including node, rack, and fleet lifecycle management; model and agent development tools comprising Weights & Biases, an AI developer platform; and runtime acceleration. In addition, the company offers graphics processing unit compute, CPU compute, networking services, managed services, and virtual and bare metal servers. Its services also include visual effects rendering, machine learning, pixel streaming, and batch processing. The company was formerly known as Atlantic Crypto Corporation and changed its name to CoreWeave, Inc. in December 2019. CoreWeave, Inc. was incorporated in 2017 and is based in Livingston, New Jersey.
CoreWeave, Inc. (CRWV) reported trailing twelve months revenue of $6.23B as of March 2026, a Infinity% increase year-over-year. Quarterly revenue reached $2.08B, reflecting continued top-line momentum.
CoreWeave, Inc. reported a TTM net loss of $1.59B, with quarterly EBITDA of $1.00B. The operating margin contracted from -2.8% to -6.9%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-6.9%) and net margin (-35.6%) indicates significant non-operating expenses or interest burden. Net margin has narrowed from -32.1% a year ago, reflecting increased costs or interest expense.
CRWV trades at a P/S of 5.9x. The price-to-book ratio of 7.7x indicates a significant premium over book value.
The company reported negative free cash flow of $-4.71B, indicating cash consumption over the period. The balance sheet shows $55.57B in total assets with $17.31B in long-term debt against $4.76B in stockholders equity for a debt-to-equity ratio of 3.6, a relatively leveraged position. Data based on the most recent quarterly reports.
Competitive analysis based on 5 quarters of fundamental data
Operating margins are under pressure, averaging -2.0%. The business may lack pricing power or face rising costs.'
Limited ROE data for a reliable assessment.
Only 0 of the last 5 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 5 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 5 of the last 5 quarters — earnings are not translating to cash.
D/E ratio is 3.6 — dangerously high. The company is heavily leveraged and vulnerable to rising rates or cash flow dips.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 7.3% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation