CoreWeaveCRWV

Business Snapshot

• CoreWeave, Inc. Class A common stock trades on NASDAQ under CRWV. The company was listed on March 28, 2025.
• The supplied data does not include a business description, sector classification, valuation multiples, earnings guidance, analyst targets, or customer concentration data.
• The financial statements show a rapidly expanding asset base and substantial investment spending, but also high liabilities, negative retained earnings, recurring net losses, and sharply negative free cash flow.

Financial Trends

• Revenue trajectory: Revenue increased from $1.365 billion in 2025-09-30 to $5.131 billion in 2025-12-31, a $3.766 billion increase, then declined to $2.078 billion in 2026-03-31 before rising to $2.575 billion in 2026-06-30, a $497 million, or 23.9%, quarter-over-quarter increase. The latest revenue remains $1.210 billion, or 88.6%, above the four-period starting point.
• Operating profitability: Operating income deteriorated from $51.9 million profit in 2025-09-30 to -$46 million in 2025-12-31, then -$144 million in 2026-03-31, before improving to -$49 million in 2026-06-30. The operating margin moved from 3.80% to -0.90%, -6.93%, and then -1.90%. This is an improvement of 5.03 percentage points versus the prior period, but profitability has not yet returned to positive territory.
• Net profitability: Net income worsened from -$110.1 million in 2025-09-30 to -$1.167 billion in 2025-12-31, improved to -$740 million in 2026-03-31, and then improved further to -$626 million in 2026-06-30. The latest loss is $114 million narrower sequentially, but $516 million larger than the loss four periods ago. Net margin improved from -35.61% to -24.31% sequentially, while remaining materially negative.
• EPS and dilution: Diluted EPS improved from -$1.40 to -$1.14 sequentially, but remains below the -$0.22 reported in 2025-09-30. Diluted weighted-average shares increased from 497.9 million to 551 million over the four supplied periods, indicating meaningful share-count expansion.
• Cash flow and FCF: Operating cash flow rose from $1.499 billion in 2025-09-30 to $3.058 billion in 2025-12-31, $2.984 billion in 2026-03-31, and $3.663 billion in 2026-06-30. The latest figure is $679 million higher than the prior period and $2.164 billion above the four-period starting point. However, capital expenditures accelerated sharply from $6.249 billion to $14.117 billion over the same span. Consequently, FCF deteriorated from -$4.750 billion to -$7.251 billion, -$4.711 billion, and finally -$10.454 billion. Latest FCF declined by $5.743 billion sequentially and by $5.704 billion versus 2025-09-30.
• Asset growth: Total assets increased from $32.910 billion in 2025-09-30 to $49.302 billion in 2025-12-31, $55.573 billion in 2026-03-31, and $77.070 billion in 2026-06-30. That is a $44.160 billion, or 134.2%, increase across the four periods, with the latest quarter adding $21.497 billion.
• Liabilities and equity: Total liabilities climbed from $29.032 billion to $45.967 billion, $50.814 billion, and $72.046 billion, a $43.014 billion increase across the periods and $21.232 billion sequentially. Equity rose from $3.878 billion to $5.024 billion, but retained earnings became more negative, moving from -$2.192 billion to -$4.009 billion.
• Liquidity: Cash increased from $1.894 billion to $5.524 billion, including a $3.280 billion sequential increase. Nevertheless, current liabilities rose from $9.715 billion to $20.917 billion, while current assets increased from $4.731 billion to $9.520 billion. The current ratio was 0.49 initially and 0.46 most recently, after dipping to 0.31; working capital deteriorated from -$4.984 billion to -$11.397 billion.
• Debt: Reported long-term debt increased from $10.323 billion in 2025-09-30 to $14.665 billion in 2025-12-31 and $17.312 billion in 2026-03-31. The latest balance is shown as unavailable, so the latest debt trend cannot be calculated reliably. Debt/equity rose from 2.66 to 4.40, then improved to 3.64 in 2026-03-31; the latest ratio is unavailable.

Financial Health

• The latest period shows strong top-line growth and improving operating and net losses, but the underlying investment burden is intensifying. Revenue rose 23.9% sequentially and operating loss narrowed by $95 million, yet capex reached $14.117 billion and FCF fell to -$10.454 billion.
• Cash of $5.524 billion is higher than in all three earlier periods, but current liabilities of $20.917 billion exceed current assets of $9.520 billion by $11.397 billion. The current ratio of 0.46 indicates weak reported short-term coverage.
• Balance-sheet expansion is being accompanied by almost equally rapid liability growth: assets increased 134.2% across the supplied periods, while liabilities increased 148.2%. Equity improved in the latest period, but negative retained earnings continue to deepen.
• The central financial question is whether operating cash generation can eventually exceed the capital required to expand. Current operating cash flow is positive and improving, but it is substantially below capital expenditures, producing increasingly negative FCF.
• No maturity schedule, interest expense, liquidity facilities, or management guidance was provided, limiting assessment of refinancing and interest-rate risk.

Insider Activity

• Aggregate insider sentiment for 2026-06-06 through 2026-09-04 is Neutral (-10), but the transaction balance is strongly weighted toward selling: $90.204 million of sales across 55 transactions versus $85,800 of purchases in one transaction, for reported net activity of -$90.119 million.
• Recent filings show repeated sales around the low-$80s to roughly $90:
  • Michael N. Intrator reported multiple sales on 2026-09-01 totaling more than $25 million in the listed transactions, alongside paired acquisition/disposition entries.
  • Kristen J. McVeety reported sales around $81-$89 and one listed purchase of $85,800 at $0.55.
  • Brannin McBee reported extensive sales around $84-$86 on 2026-08-24, with paired acquisition/disposition entries.
  • Additional sales were reported by Nitin Agrawal and Brian Venturo.
• Some filings contain non-zero share acquisitions followed by same-day dispositions or entries at zero consideration. These may reflect equity-award, conversion, or administrative transactions rather than straightforward open-market buying; the supplied data does not provide enough detail to classify every entry.
• Overall, the dollar-weighted insider signal is negative, despite the headline sentiment label being neutral. Insider activity is therefore a risk factor, not a standalone timing signal.

Multi-Timeframe Technical Context

• Only daily data is supplied; no 1-minute, 5-minute, hourly, or other intraday indicators are available. Ultra-short and short-horizon conclusions are consequently lower confidence.
• Ultra-short horizon — minutes: Current price is $87.82, with a reported session range of $60.55-$138.25, an exceptionally wide $77.70 range. ATR is $4.94, implying substantial volatility. Intraday direction cannot be assessed reliably without intraday candles, order flow, or volume-by-time data.
• Short horizon — hours to days: RSI-14 is 25.34, indicating oversold conditions on that lookback and leaving room for a technical rebound. However, MACD is -1.0539 versus a signal of -0.2476, a bearish configuration. Price is below the 12-day EMA of $86.41? Actually, price is slightly above the 12-day EMA, but below the 26-day EMA of $87.47? Current price is marginally above both EMA-26 and EMA-12; the supplied values show price above EMA-12 and EMA-26, while remaining below the 50-day EMA.
• Price is below the 50-day EMA ($89.16), 20-day SMA ($90.94), and 200-day SMA ($91.46), leaving overhead trend resistance in the $89-$91.50 area.
• The 50-day SMA is $85.59, slightly below the current price, while the Bollinger lower band is $74.12 and the middle band is $90.94. This places CRWV near the lower half of its recent daily range, but not at the lower Bollinger band.
• Current volume of approximately 9.26 million is only about 34.7% of the 20-day average volume of 26.67 million. Any rebound occurring on such below-average volume would have weaker confirmation.
• Long horizon — weeks to months: The 200-day SMA at $91.46 and Bollinger middle band at $90.94 are key trend tests. Sustained trading below those levels would keep the longer-term setup technically fragile; a durable move above them would improve the trend profile. The 200-bar change is reported as +17.97%, but the extremely broad high-low range signals elevated volatility and gap risk.

Bull / Bear Cases

• Short-term bull case:
  • RSI-14 at 25.34 supports the possibility of an oversold bounce.
  • Price is above the 50-day SMA of $85.59 and marginally above the 12- and 26-day EMAs.
  • Revenue rose 23.9% sequentially, while operating and net losses narrowed.
  • A move through the $89-$91.50 resistance band, particularly with volume returning toward the 20-day average, would strengthen the rebound case.
• Short-term bear case:
  • MACD remains bearish, with MACD below its signal line.
  • Price remains below the 20-day SMA, 50-day EMA, and 200-day SMA.
  • Current volume is well below its 20-day average, weakening confirmation of any bounce.
  • The session’s extreme range and ATR indicate high downside and gap risk.
  • Heavy recent insider selling may add supply pressure or weaken sentiment.
• Long-term bull case:
  • Revenue is substantially higher than four periods earlier, and the latest quarter showed renewed sequential growth.
  • Operating cash flow increased to $3.663 billion, the highest supplied period.
  • Cash increased to $5.524 billion, and operating losses narrowed materially from the prior quarter.
  • If revenue growth continues and capex intensity moderates, the company could move toward improved operating leverage and eventually less-negative FCF.
• Long-term bear case:
  • FCF worsened to -$10.454 billion, the most negative supplied period, as capital expenditures accelerated to $14.117 billion.
  • Net losses remain large, retained earnings are increasingly negative, and operating margins remain below zero.
  • Liabilities grew faster than assets over the supplied periods, while working capital remains deeply negative.
  • Share dilution is visible in the increase in diluted weighted-average shares from 497.9 million to 551 million.
  • Reported long-term debt and debt/equity are unavailable for the latest period, leaving an important part of the financing-risk picture incomplete.

Key Levels & Triggers

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