CoreWeave, Inc. Class A Common Stock stock research
FY2026 Q1
CoreWeave, Inc. Class A Common Stock (CRWV) Gross Margin & Quarterly History
Explore CoreWeave, Inc. Class A Common Stock (CRWV) gross margin from 2023 through the latest reported quarter, using SEC-sourced revenue, gross profit, and direct costs.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin weakened sequentially and declined from the year-ago level, indicating that cost of revenue grew faster than revenue.
- The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue increased but cost of revenue grew at a faster pace, compressing gross margin.
- Compared to the immediately preceding quarter, gross margin was lower. Compared to the same quarter one year earlier, gross margin was also lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
65.5%
Gross profit
$1.4B
Revenue
$2.1B
Cost of revenue
$716.0M
Quarter-over-quarter change
-2.1 pts
Year-over-year change
-7.8 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2025 | $1.2B | $900.1M | $312.7M | 74.2% |
| Sep 30, 2025 | $1.4B | $995.9M | $368.8M | 73.0% |
| Dec 31, 2025 | $1.6B | $1.1B | $509.1M | 67.6% |
| Mar 31, 2026 | $2.1B | $1.4B | $716.0M | 65.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-2.1 pts
Year-over-year change
Mar 31, 2025
-7.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue increased but cost of revenue grew at a faster pace, compressing gross margin.
Compared to the immediately preceding quarter, gross margin was lower. Compared to the same quarter one year earlier, gross margin was also lower.
Monitor the trend in cost of revenue relative to revenue, as its faster growth is the primary factor behind the margin compression.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| CoreWeave, Inc. Class A Common Stock (CRWV) | 65.5% |
| Oracle Corporation (ORCL) | 65.2% |
| Microsoft Corporation (MSFT) | 67.6% |