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Side-by-side financial comparison of CoreWeave, Inc. (CRWV) and RXO, Inc. (RXO). Click either name above to swap in a different company.
CoreWeave, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.5B, roughly 1.1× RXO, Inc.). RXO, Inc. runs the higher net margin — -3.1% vs -28.7%, a 25.6% gap on every dollar of revenue. RXO, Inc. produced more free cash flow last quarter ($-9.0M vs $-2.5B).
CoreWeave, Inc. is an American artificial intelligence (AI) cloud-computing company based in Livingston, New Jersey. It specializes in providing cloud-based graphics processing unit (GPU) infrastructure to AI developers and enterprises, and also develops its own chip management software.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
CRWV vs RXO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $1.5B |
| Net Profit | $-451.7M | $-46.0M |
| Gross Margin | 67.6% | — |
| Operating Margin | -5.7% | -2.9% |
| Net Margin | -28.7% | -3.1% |
| Revenue YoY | — | -11.9% |
| Net Profit YoY | — | -84.0% |
| EPS (diluted) | $-0.50 | $-0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.6B | $1.5B | ||
| Q3 25 | $1.4B | $1.4B | ||
| Q2 25 | $1.2B | $1.4B | ||
| Q1 25 | $981.6M | $1.4B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $583.9M | $1.0B | ||
| Q2 24 | $395.4M | $930.0M | ||
| Q1 24 | — | $913.0M |
| Q4 25 | $-451.7M | $-46.0M | ||
| Q3 25 | $-110.1M | $-14.0M | ||
| Q2 25 | $-290.5M | $-9.0M | ||
| Q1 25 | $-314.6M | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | $-359.8M | $-243.0M | ||
| Q2 24 | $-323.0M | $-7.0M | ||
| Q1 24 | — | $-15.0M |
| Q4 25 | 67.6% | — | ||
| Q3 25 | 73.0% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 75.5% | — | ||
| Q2 24 | 72.5% | — | ||
| Q1 24 | — | — |
| Q4 25 | -5.7% | -2.9% | ||
| Q3 25 | 3.8% | -0.5% | ||
| Q2 25 | 1.6% | — | ||
| Q1 25 | -2.8% | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | 20.1% | -1.9% | ||
| Q2 24 | 19.7% | — | ||
| Q1 24 | — | -1.3% |
| Q4 25 | -28.7% | -3.1% | ||
| Q3 25 | -8.1% | -1.0% | ||
| Q2 25 | -24.0% | -0.6% | ||
| Q1 25 | -32.1% | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | -61.6% | -23.4% | ||
| Q2 24 | -81.7% | -0.8% | ||
| Q1 24 | — | -1.6% |
| Q4 25 | $-0.50 | $-0.28 | ||
| Q3 25 | $-0.22 | $-0.08 | ||
| Q2 25 | $-0.60 | $-0.05 | ||
| Q1 25 | $-1.49 | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | $-1.82 | $-1.81 | ||
| Q2 24 | $-1.62 | $-0.06 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $17.0M |
| Total DebtLower is stronger | $21.4B | $387.0M |
| Stockholders' EquityBook value | $3.3B | $1.5B |
| Total Assets | $49.3B | $3.3B |
| Debt / EquityLower = less leverage | 6.41× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.2B | $17.0M | ||
| Q3 25 | $1.9B | $25.0M | ||
| Q2 25 | $1.2B | $18.0M | ||
| Q1 25 | $1.3B | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | $1.4B | $55.0M | ||
| Q2 24 | $1.0B | $7.0M | ||
| Q1 24 | — | $7.0M |
| Q4 25 | $21.4B | $387.0M | ||
| Q3 25 | $14.0B | $387.0M | ||
| Q2 25 | $11.1B | $387.0M | ||
| Q1 25 | $8.7B | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M | ||
| Q1 24 | — | $351.0M |
| Q4 25 | $3.3B | $1.5B | ||
| Q3 25 | $3.9B | $1.6B | ||
| Q2 25 | $2.7B | $1.6B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $-344.0M | $1.7B | ||
| Q2 24 | $-1.0B | $579.0M | ||
| Q1 24 | — | $582.0M |
| Q4 25 | $49.3B | $3.3B | ||
| Q3 25 | $32.9B | $3.2B | ||
| Q2 25 | $26.2B | $3.2B | ||
| Q1 25 | $21.9B | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | 6.41× | 0.25× | ||
| Q3 25 | 3.62× | 0.24× | ||
| Q2 25 | 4.16× | 0.24× | ||
| Q1 25 | 4.57× | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6B | $7.0M |
| Free Cash FlowOCF − Capex | $-2.5B | $-9.0M |
| FCF MarginFCF / Revenue | -159.1% | -0.6% |
| Capex IntensityCapex / Revenue | 258.3% | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-7.3B | $-8.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $7.0M | ||
| Q3 25 | $1.7B | $23.0M | ||
| Q2 25 | $-251.3M | $23.0M | ||
| Q1 25 | $61.2M | $-2.0M | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | — | $-7.0M | ||
| Q2 24 | — | $-5.0M | ||
| Q1 24 | — | $7.0M |
| Q4 25 | $-2.5B | $-9.0M | ||
| Q3 25 | $-699.8M | $9.0M | ||
| Q2 25 | $-2.7B | $9.0M | ||
| Q1 25 | $-1.3B | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M | ||
| Q1 24 | — | $-4.0M |
| Q4 25 | -159.1% | -0.6% | ||
| Q3 25 | -51.3% | 0.6% | ||
| Q2 25 | -223.0% | 0.6% | ||
| Q1 25 | -137.1% | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% | ||
| Q1 24 | — | -0.4% |
| Q4 25 | 258.3% | 1.1% | ||
| Q3 25 | 175.1% | 1.0% | ||
| Q2 25 | 202.3% | 1.0% | ||
| Q1 25 | 143.4% | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.2% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRWV
| US | $1.4B | 92% |
| Non Us | $129.3M | 8% |
RXO
| Retail Sector | $546.0M | 37% |
| Last Mile | $298.0M | 20% |
| Food And Beverage Sector | $225.0M | 15% |
| Other Sector | $185.0M | 13% |
| Managed Transportation | $133.0M | 9% |
| Automotive Sector | $93.0M | 6% |
