CoreWeave (CRWV) Operating Expenses (2024 - 2026)
CoreWeave's Operating Expenses was $2.62 billion in Q2 2026, up 119.9% from $1.19 billion a year earlier and up 18.1% from the prior quarter.
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Analysis
CoreWeave (CRWV) Operating Expenses (2024 - 2026) Analysis & Trends
On a trailing twelve-month basis, CoreWeave's Operating Expenses was $7.82 billion through Jun 30, 2026, up 136.7% year-over-year; for FY2025, it came in at $5.18 billion, up 225.4% from FY2024.
- In earlier years, Operating Expenses was $1.59 billion in FY2024 (+554.7%) and $243 million in FY2023.
- The Q2 2026 figure marks the highest quarterly Operating Expenses in data going back to Q1 2024.
- Compared with a year earlier, Operating Expenses has increased for six straight quarters, with growth averaging 224.3% over the last six quarters.
- Per Business Quant data, CRWV's Operating Expenses in the three quarters before Q2 2026 was $2.22 billion (Q1 2026), $1.66 billion (Q4 2025) and $1.31 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,932.24 Bn | 3,855.40 Bn | 60.48 Bn | 12.28 Bn |
| 2 | International Business Machines | 219.04 Bn | 169.85 Bn | 9.91 Bn | 7.29 Bn |
| 3 | Cloudflare | 104.70 Bn | 88.23 Bn | 499.52 Mn | 705.21 Mn |
| 4 | Equinix | 97.19 Bn | 85.75 Bn | 1.40 Bn | 1.96 Bn |
| 5 | Nebius | 40.23 Bn | 13.66 Bn | 448.70 Mn | 758.20 Mn |
| 6 | CoreWeave | 33.76 Bn | 20.85 Bn | 1.70 Bn | 2.62 Bn |
| 7 | Verisign | 27.46 Bn | 24.67 Bn | 384.60 Mn | 138.30 Mn |
| 8 | Nutanix | 17.98 Bn | 9.67 Bn | 651.35 Mn | 581.36 Mn |
| 9 | GoDaddy | 13.83 Bn | 9.41 Bn | 828.20 Mn | 955.50 Mn |
| 10 | Akamai Technologies | 12.69 Bn | 6.10 Bn | 613.75 Mn | 1.02 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.62 Bn |
| Mar 31, 2026 | 2.22 Bn |
| Dec 31, 2025 | 1.66 Bn |
| Sep 30, 2025 | 1.31 Bn |
| Jun 30, 2025 | 1.19 Bn |
| Mar 31, 2025 | 1.01 Bn |
| Dec 31, 2024 | 634.69 Mn |
| Sep 30, 2024 | 466.83 Mn |
| Jun 30, 2024 | 317.65 Mn |
| Mar 31, 2024 | 171.84 Mn |
API Access
CoreWeave Operating Expenses 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=operating-expenses&ticker=CRWV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=CRWV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();