CoreWeave (CRWV) Cost of Revenue (2024 - 2026)
CoreWeave (CRWV) recorded Cost of Revenue of $879 million in Q2 2026, up 180.8% from $313 million a year earlier and up 22.8% from the prior quarter.
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Analysis
CoreWeave (CRWV) Cost of Revenue (2024 - 2026) Analysis & Trends
On a TTM basis, CoreWeave's Cost of Revenue came in at $2.47 billion as of Jun 30, 2026, up 174.8% year-over-year; for FY2025, it was $1.45 billion, up 194.7% from FY2024.
- Across earlier years, Cost of Revenue came in at $493 million in FY2024 (+614.5%) and $69 million in FY2023.
- The Q2 2026 figure is the highest quarterly Cost of Revenue in data going back to Q1 2024.
- On a year-over-year basis, Cost of Revenue has increased for six consecutive quarters, with growth averaging 203.6% over the last six quarters.
- Per Business Quant, the preceding three quarters came in at $716 million (Q1 2026), $509.12 million (Q4 2025) and $368.82 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn | 29.53 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn | 7.26 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn | 196.54 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn | 1.23 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn | 133.60 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn | 879.00 Mn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn | 50.00 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn | 105.73 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn | 469.80 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn | 485.93 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 879.00 Mn |
| Mar 31, 2026 | 716.00 Mn |
| Dec 31, 2025 | 509.12 Mn |
| Sep 30, 2025 | 368.82 Mn |
| Jun 30, 2025 | 313.00 Mn |
| Mar 31, 2025 | 262.00 Mn |
| Dec 31, 2024 | 181.81 Mn |
| Sep 30, 2024 | 143.13 Mn |
| Jun 30, 2024 | 108.84 Mn |
| Mar 31, 2024 | 59.22 Mn |
API Access
CoreWeave Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CRWV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "CRWV", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=CRWV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();