CRWV Q3 2025 Earnings — Income Statement Breakdown
For its Q3 2025 period (ending 2025-09-30), CRWV reported revenue of $1.4B, gross profit of $996M (73.0% gross margin), operating income of $52M, and net income of −$110M (-8.1% net margin). The flow of revenue into costs and profit is visualized below.
What changed
CRWV reported a net loss; revenue grew 133.7% year over year, and EPS beat consensus by $0.23.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | +133.7% | +69.4% | Not available |
| Quarter over quarter | +12.5% | +62.1% | Not available |
EPS was $-0.31 versus $-0.54 expected.
CRWV Q3 2025 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $1.4B | 100% |
| Cost of Revenue | −$369M | 27.0% |
| Gross Profit | $996M | 73.0% |
| Research & Development | −$93M | 6.8% |
| Selling, General & Administrative | −$197M | 14.4% |
| Other Operating Expenses | −$654M | 48.0% |
| Operating Income | $52M | 3.8% |
| Interest Expense | −$283M | 20.8% |
| Other Income, net | −$5M | 0.4% |
| Income Tax Expense | $127M | 9.3% |
| Net Income | −$110M | -8.1% |
Source: original SEC filing (filed 2025-11-10). Accession 0001769628-25-000059. Data normalized by EarningsFyi.