CoreWeave Q4 2025 earnings call transcript

Key points

CEO Michael Intrator and CFO Nitin Agrawal described 2025 as a defining year for CoreWeave, with full-year revenue of more than $5.1 billion, up 168% year-over-year. The company ended the year with over 850 megawatts of active power capacity. Contracted revenue backlog expanded to $66.8 billion, underpinning continued aggressive infrastructure buildout into 2026.