CoreWeaveCRWV

Business Snapshot

• CoreWeave, Inc. Class A common stock trades on Nasdaq under CRWV and began listing on 2025-03-28.
• The supplied data does not include a business description, sector classification, valuation multiples, earnings guidance, or analyst targets.
• The financial profile is characterized by rapidly expanding assets, revenue growth, heavy capital expenditure, substantial financing needs, negative retained earnings, and continuing net losses.

Financial Trends

• Revenue: Revenue rose from $1.365 billion in 2025-09 to $5.131 billion in 2025-12, then fell to $2.078 billion in 2026-03 before increasing to $2.575 billion in 2026-06. The latest quarter increased $497 million, or 23.9%, versus Q1 2026. Compared with the 2025-09 period, revenue is up $1.210 billion, or 88.7%, although the quarterly series is uneven and does not show a consistent sequential acceleration.
• Operating profitability: Operating income was +$51.9 million in 2025-09, turned to -$46 million in 2025-12, worsened to -$144 million in 2026-03, and improved to -$49 million in 2026-06. The operating margin moved from 3.80% to -0.90%, -6.93%, and most recently -1.90%. This is a meaningful sequential improvement of 5.03 percentage points from Q1 2026, but the latest period remains loss-making and below the 2025-09 level by 5.70 points.
• Net income and EPS: Net losses increased from $110.1 million in 2025-09 to $1.167 billion in 2025-12, then narrowed to $740 million in 2026-03 and $626 million in 2026-06. The latest net loss improved by $114 million, or 15.4%, sequentially, but remains $515.9 million larger than the 2025-09 loss. Basic EPS improved from -$1.40 to -$1.14 sequentially, while diluted shares increased from 497.9 million in 2025-09 to 551 million in 2026-06, a rise of approximately 10.7%.
• Cash flow and FCF: Cash from operations increased from $1.499 billion in 2025-09 to $3.058 billion in 2025-12, dipped slightly to $2.984 billion in 2026-03, and rose to $3.663 billion in 2026-06. The latest quarter is up $679 million, or 22.8%, versus Q1 2026, and up $2.164 billion, or 144.3%, versus 2025-09. However, capital expenditures expanded faster, reaching $14.117 billion in 2026-06 versus $7.695 billion in 2026-03 and $6.249 billion in 2025-09. Consequently, FCF deteriorated from -$4.750 billion in 2025-09 to -$7.251 billion in 2025-12, improved to -$4.711 billion in 2026-03, then worsened sharply to -$10.454 billion in 2026-06. Latest FCF declined $5.743 billion sequentially and is $5.704 billion more negative than four periods ago.
• Assets and liabilities: Total assets grew from $32.910 billion in 2025-09 to $49.302 billion in 2025-12, $55.573 billion in 2026-03, and $77.070 billion in 2026-06. The latest increase was $21.497 billion, or 38.7%, sequentially, and $44.160 billion, or 134.2%, versus 2025-09. Total liabilities rose from $29.032 billion to $72.046 billion over the same period, including a $21.232 billion, or 41.8%, sequential increase in the latest quarter. Liabilities therefore expanded faster than assets sequentially.
• Liquidity and leverage: Cash increased from $1.894 billion in 2025-09 to $5.524 billion in 2026-06, including a $3.280 billion sequential increase. Despite higher cash, current liabilities reached $20.917 billion against current assets of $9.520 billion, leaving working capital at -$11.397 billion and a current ratio of 0.46. The current ratio improved from 0.31 in Q1 2026 but remains below 0.49 in 2025-09. Reported debt/equity rose from 2.66 in 2025-09 to 4.40 in 2025-12 and 3.64 in 2026-03; the latest figure is unavailable because long-term debt is shown as “—.”
• Equity and retained earnings: Shareholders’ equity increased from $3.878 billion in 2025-09 to $5.024 billion in 2026-06, but retained earnings became increasingly negative, moving from -$2.192 billion to -$4.009 billion. The latest retained-earnings deficit widened $626 million sequentially, consistent with the latest net loss.

Financial Health

• The latest period shows improving revenue, operating loss, net loss, and operating cash flow sequentially, but those improvements are being overwhelmed by substantially higher capital expenditures. The result is -$10.454 billion of FCF, the weakest figure in the four-period set.
• Liquidity is a key risk. Cash of $5.524 billion is materially below current liabilities of $20.917 billion, and working capital remains deeply negative at -$11.397 billion. The current-ratio improvement from 0.31 to 0.46 is positive but does not remove the short-term funding pressure.
• The balance sheet is expanding rapidly, but leverage and obligations are also increasing. Assets grew 134.2% from 2025-09 to 2026-06, while liabilities grew approximately 148.2% over the same interval. This suggests growth has required significant external financing.
• Financing provided $13.985 billion in the latest period, compared with $3.914 billion in Q1 2026, while investing consumed $14.874 billion. The data therefore points to a capital-intensive expansion model dependent on continued financing and operating-cash generation.
• No valuation data, debt maturity schedule, interest expense, or management guidance was supplied, limiting assessment of refinancing risk, valuation support, and forward earnings capacity.

Insider Activity

• Insider sentiment for 2026-06-11 through 2026-09-09 is classified as Neutral (-10), but the transaction mix is heavily weighted toward sales: $90.204 million of sales across 55 transactions versus $85,800 of buys across one transaction, for net activity of -$90.119 million.
• Recent reported activity on 2026-09-01 included large sales by Kristen McVeety and Michael Intrator at approximately $81.16–$82.54, alongside transactions labeled as buys or transfers. The reported records contain paired acquisition/disposition entries and zero-dollar transactions, so not every line should be interpreted as an open-market directional purchase or sale.
• Additional large sales were reported around $83.93–$91.88 during August, including activity by Intrator, McVeety, McBee, Agrawal, and Venturo.
• The aggregate dollar imbalance remains a cautionary signal, but the presence of paired transactions and non-cash or zero-dollar entries reduces confidence in treating the entire gross-sale amount as discretionary insider selling.
• Overall insider data is neutral-to-cautious, rather than a clean bullish confirmation.

Multi-Timeframe Technical Context

• Only the 1D timeframe was provided; minute and intraday candle data are unavailable, so ultra-short and hourly setups cannot be confirmed from the supplied payload.
• CRWV is at $96.45, above its 12-day EMA of $89.87, 26-day EMA of $89.08, 50-day EMA of $89.90, 20-day SMA of $91.91, 50-day SMA of $85.70, and 200-day SMA of $91.70. This gives the daily trend a constructive bias.
• RSI is moderate at 57.52 on 14 periods and 55.51 on 21 periods. Momentum is positive but not yet in an overbought condition based on these readings.
• MACD is positive at 0.7952 versus a signal line of 0.0466, supporting bullish momentum on the daily timeframe.
• Price is above the Bollinger middle band at $91.91 but below the upper band at $109.20. The lower band is $74.62. This leaves upside room before the upper volatility boundary, while also indicating that a move back below the middle band would weaken the setup.
• ATR is $5.14, implying a relatively wide daily trading range. The supplied 200-bar range spans $60.55 to $138.25, and the current session has also printed that same high-low range, highlighting exceptional volatility.
• Current volume of approximately 9.57 million is below the 20-day average of approximately 26.92 million, or about 64.4% lower. The current price strength therefore lacks confirmation from above-average volume in the supplied snapshot.

Bull / Bear Cases

• Ultra-short term — Bull case: Price remains above the daily moving-average cluster around $89–$92, MACD remains positive, and RSI is constructive without being overbought. A sustained hold above this area could keep momentum pointed toward the $109.20 upper Bollinger band.
• Ultra-short term — Bear case: The wide $5.14 ATR, extreme supplied session range, and below-average volume create elevated whipsaw risk. A break below the $91.91 middle band and nearby moving-average cluster would weaken momentum; a deeper break toward $85.70 would damage the short-term trend structure.
• Short term — Bull case: The latest daily trend is above the 12-, 26-, 50-, and 200-day reference averages, while the stock’s 200-bar opening-to-close move is positive. Continued acceptance above approximately $92 could support a retest of $109.20.
• Short term — Bear case: Insider activity is heavily net-sell in dollar terms, and volume is only about one-third of its 20-day average. Failure to attract stronger volume near current prices could make the rally vulnerable to profit-taking, particularly given the extreme high-low range.
• Long term — Bull case: Revenue increased 88.7% from 2025-09 to 2026-06, operating cash flow increased 144.3%, and the latest sequential revenue and operating-loss trends improved. If revenue growth eventually converts into operating profitability and capital intensity moderates, the expanding asset base could support a stronger long-term earnings profile.
• Long term — Bear case: The latest FCF loss of -$10.454 billion, negative working capital of -$11.397 billion, growing liabilities, increasingly negative retained earnings, and reliance on $13.985 billion of financing cash flow represent substantial execution and funding risks. Revenue growth alone has not yet produced positive operating income or free cash flow, and diluted shares increased approximately 10.7% from 2025-09 to 2026-06.

Key Levels & Triggers

• Immediate support: Approximately $91.91, the 20-day SMA and Bollinger middle band.
• Secondary support: Approximately $89.90–$89.08, covering the 50-day EMA, 12-day EMA, and 26-day EMA cluster.
• Deeper trend support: Approximately $85.70, the 50-day SMA.
• Upside reference: $109.20, the upper Bollinger band.
• Major observed range markers: $60.55 low and $138.25 high from the supplied 200-bar/session data; these indicate broad volatility rather than confirmed near-term targets.
• Bullish trigger: Sustained closes above $96.45 with volume moving toward or above the 26.92 million 20-day average would provide stronger confirmation of continuation.
• Bearish trigger: A close below $91.91, followed by loss of the $89–$90 moving-average cluster, would shift the daily setup from constructive to weakening.
• Fundamental triggers to monitor: sequential revenue growth, operating-margin improvement, reduction in the FCF deficit, capital-expenditure trajectory, financing requirements, current liabilities, and any improvement in the current ratio or working capital.
• Overall assessment: The technical structure is currently constructive but highly volatile, while the fundamental profile remains financially demanding. CRWV presents a momentum-supported setup with significant long-term execution, liquidity, dilution, and financing risk.