CoreWeave, Inc. Class A Common Stock

CoreWeave delivered a split verdict in its third quarter of 2025, posting revenue of $1.36 billion — a 133.7% year-over-year surge that cleared the $1.24 billion consensus by 9.64% — while its loss per share of $-0.22 came in marginally worse than the $-0.2172 analysts had expected, a 1.29% miss. The standout driver behind the revenue beat was an explosion in contracted demand: CoreWeave's revenue backlog nearly doubled to $55.60 billion, anchored by a multi-year deal with Meta worth up to $14.20 billion and an expanded OpenAI partnership valued at up to $6.50 billion. Adjusted EBITDA reached $838.12 million at a 61% margin, though GAAP operating income slipped to $51.85 million as infrastructure costs and stock-based compensation scaled sharply. Supply chain delays at a key data center partner cast a shadow over <a href="https://247wallst.com/investing/2025/11/10/live-complete-coreweave-crwv-q3-earnings-coverage/">the forward outlook</a>, with the company projecting full-year 2025 revenue of $5.05 billion to $5.15 billion even as investors weighed the costs of its breakneck expansion.