What is CoreWeave, Inc. 's purchase of capped calls?

CoreWeave, Inc. (CRWV) reported purchase of capped calls of $85M in Q4 2025.

What does purchase of capped calls mean?

Cash outflows related to the purchase of capped call options, often used in conjunction with convertible debt offerings to mitigate potential dilution. This strategy helps manage the impact of stock price appreciation on the company's capital structure.

CoreWeave, Inc. CRWV Purchase of Capped Calls

Purchase of Capped Calls at other companies

Hannon Armstrong Sustainable Infrastructure CapitalHASI

$0—

Alphatec HoldingsATEC

$0-100%

KEE

Keel Infrastructure Corp. Common StockKEEL

$17.27M—

Northern Oil and GasNOG

$4.24M—

McEwen MiningMUX

$15.11M—

Solaris Energy InfrastructureSEI

$16.4M—

Other financials

Income statement

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Revenue$2.1B+112%

Gross profit$1.4B+89.2%

Operating income-$144.0M-433%

Net income-$740.0M-135%

EPS (diluted)-$1.40+6.0%

Balance sheet

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Cash & equivalents$3.3B+31.9%

Total debt$35.1B+195%

Total equity$4.8B+150%

Total assets$55.6B+154%

Cash flow

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Operating cash flow$3.0B+4,792%

CapEx$7.7B+447%

Free cash flow-$4.7B-250%

Valuation

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Market cap$55.04B—

Enterprise value$86.86B—

P/S8.8×—

Profitability

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Gross margin69.4%-4.9pp

Operating margin-2.6%-13.0pp

Net margin-25.6%-6.5pp

FCF margin-170.5%-48.0pp

Returns & leverage

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Return on equity-47.8%—

Debt / equity7.4×+1.1×

Current ratio0.3×-0.1×

Where this comes from

Reported directly by CoreWeave, Inc. in its filing.

Tagged under the XBRL concept crwv:PurchaseOfCappedCalls.

The official record: CoreWeave, Inc. ’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is CoreWeave, Inc. 's purchase of capped calls?: CoreWeave, Inc. (CRWV) reported purchase of capped calls of $85M in Q4 2025.
What does purchase of capped calls mean?: Cash outflows related to the purchase of capped call options, often used in conjunction with convertible debt offerings to mitigate potential dilution. This strategy helps manage the impact of stock price appreciation on the company's capital structure.