CoreWeave Inc-A(CRWV) - 2025 Q1 - Quarterly Results

Revenue and Financial Performance - Revenue for Q1 2025 reached $981.6 million, a 420$188.7 million in Q1 2024[3] - Revenue for the three months ended March 31, 2025, was $981.63 million, compared to$188.68 million for the same period in 2024, indicating a significant increase of approximately 419%[27] - Adjusted EBITDA for Q1 2025 was $606.1 million, representing a 480$104.5 million in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $606.13 million, up from$104.55 million in Q1 2024, resulting in an adjusted EBITDA margin of 62%[27] - The company reported a net loss of $314.6 million in Q1 2025, compared to a net loss of$129.2 million in Q1 2024, marking a 143% increase in losses[3] - Net loss for the first quarter of 2025 was $314.64 million, compared to a net loss of$129.25 million in Q1 2024, reflecting a deterioration in profitability[27] - CoreWeave's adjusted net loss for Q1 2025 was $149.6 million, a 535$23.6 million in Q1 2024[4] Operating Expenses and Liabilities - Operating expenses for Q1 2025 were $1.01 billion, up 487$171.8 million in Q1 2024[3] - Total current liabilities rose to $7.13 billion as of March 31, 2025, compared to$4.96 billion at the end of 2024, an increase of about 43.7%[21] Cash and Investments - Cash and cash equivalents, along with restricted cash, totaled $2.52 billion at the end of Q1 2025, compared to$1.67 billion at the end of Q1 2024, marking an increase of approximately 50.9%[25] - The company reported a net cash provided by operating activities of $61.17 million for Q1 2025, a significant decrease from$2.04 billion in Q1 2024[24] - The company incurred $1.41 billion in capital expenditures during Q1 2025, compared to$1.74 billion in Q1 2024, indicating a reduction in investment spending[24] Strategic Developments - CoreWeave secured a strategic deal with OpenAI, contributing $11.2 billion to the revenue backlog[8] - New product launches included CoreWeave AI Object Storage (CAIOS) and support for NVIDIA AI Enterprise software[8] Assets and Equity - Total assets increased to$21.86 billion as of March 31, 2025, up from $17.83 billion on December 31, 2024, representing a growth of approximately 22.5$1.91 billion as of March 31, 2025, compared to a deficit of $413.60 million at the end of 2024[22] Compensation and Margins - CoreWeave's operating income margin for Q1 2025 was -3$183.97 million in Q1 2025, compared to $8.19 million in Q1 2024, reflecting a substantial rise in employee compensation costs[27] Revenue Backlog - Revenue backlog as of March 31, 2025, was$25.9 billion, including $14.7 billion in remaining performance obligations (RPO)[5]