CoreWeave (CRWV) Operating Expenses (2024 - 2026)

CoreWeave (CRWV) reported Operating Expenses of $2.2 billion for Q1 2026, up 120.22% on a YoY basis from $1.0 billion in Q1 2025, and up 33.74% sequentially from $1.7 billion in Q4 2025.

CoreWeave (CRWV) Operating Expenses (2024 - 2026) Analysis & Trends

CoreWeave (CRWV) has 3 years of Operating Expenses data on file, last reported at $2.2 billion in Q1 2026.

  • For the quarter ending Q1 2026, Operating Expenses rose 120.22% year-over-year to $2.2 billion; the trailing twelve-month figure through Mar 2026 stood at $6.4 billion (up 163.16% YoY), and the FY2025 full-year result was $5.2 billion, up 225.39% from the prior year.
  • Operating Expenses advanced to $2.2 billion in Q1 2026, from $1.7 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $2.2 billion in Q1 2026 to a low of $171.8 million in Q1 2024.
  • A 3-year average of $998.9 million and a median of $1.0 billion in 2025 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses surged 487.18% in 2025 and jumped 120.22% in 2026, its largest moves.
  • Tracing CRWV's Operating Expenses over 3 years: stood at $634.7 million in 2024, then soared by 161.78% to $1.7 billion in 2025, then surged by 33.74% to $2.2 billion in 2026.
  • Business Quant data shows CRWV's Operating Expenses at $2.2 billion in Q1 2026, $1.7 billion in Q4 2025, and $1.3 billion in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Microsoft 2,842.90 Bn 2,718.46 Bn 56.06 Bn 8.75 Bn
2 PagSeguro Digital 2,572.26 Bn 2,572.26 Bn 358.92 Mn -363.49 Mn
3 Oracle 329.59 Bn 297.69 Bn - 13.05 Bn
4 Repay Holdings 314.63 Bn 314.48 Bn - -
5 Palantir Technologies 294.47 Bn 286.44 Bn 1.42 Bn 662.79 Mn
6 Palo Alto Networks 227.51 Bn 222.98 Bn 1.91 Bn 1.51 Bn
7 CrowdStrike Holdings 183.28 Bn 180.18 Bn 993.68 Mn 979.89 Mn
8 Fortinet 112.44 Bn 109.14 Bn 1.49 Bn 905.10 Mn
9 Cloudflare 92.78 Bn 91.83 Bn 455.60 Mn 517.59 Mn
10 CoreWeave 37.91 Bn 37.11 Bn 1.36 Bn 2.22 Bn

Historic Data

Download Data
DateValue
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