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| Date | Value |
|---|---|
| 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 |