CoreWeave announces plans to issue $1.0 billion of additional 9.75% senior notes due 2031 in a private offering to fund general corporate purposes and repay debt
CoreWeave, Inc. operates a cloud platform that provides scaling, support, and acceleration for GenAI. The company builds the infrastructure that supports compute workloads for enterprises. Its products include GPU compute, CPU compute, storage services, networking services, managed services, and virtual and bare metal servers. Additionally, its platform offers a fleet lifecycle controller, node lifecycle controller, tensorizer, and observability. The company's services also include VFX and rendering, AI model training, AI interference, and mission control. CoreWeave, Inc. was formerly known as Atlantic Crypto Corporation and changed its name to CoreWeave, Inc. in December 2019. CoreWeave, Inc. was incorporated in 2017 and is based in Livingston, New Jersey.
| Metric | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Revenue | $1.92B | $228.94M | $15.83M |
| Cost of Revenue | $493.35M | $68.78M | $12.12M |
| Gross Profit | $1.42B | $160.16M | $3.71M |
| Gross Margin | 74.24% | 69.96% | 23.42% |
| Operating Expenses | $1.10B | $174.61M | $26.59M |
| Operating Income | $324.36M | $-14.45M | $-22.88M |
| Operating Margin | 16.93% | -6.31% | -144.54% |
| Net Income | $-863.45M | $-593.75M | $-31.05M |
| Net Margin | -45.08% | -259.34% | -196.18% |
| EPS (Basic) | $-2.33 | $-1.47 | $-0.08 |
| EBITDA | N/A | N/A | N/A |
| Stock Option Compensation Expense | N/A | N/A | N/A |
| Price To Earnings Ratio | N/A | N/A | N/A |
| Price To Sales Ratio | N/A | N/A | N/A |
| Shares Outstanding | N/A | N/A | N/A |
| Market Capitalization | N/A | N/A | N/A |