Core Scientific, Inc. (CORZ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CORZ SEC filings page.
Core Scientific, Inc. (CORZ) reported $440.3M in revenue over the twelve months to Jun 30, 2026, up 26.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Core Scientific’s shrinking revenue base is funding heavy infrastructure investment while losses and liabilities remain substantial.
Operating cash flow was$278M , but free cash flow was-$451M after capital spending. Against revenue of$319M , that reinvestment burden means reported cash generation did not translate into cash left after expanding the asset base.
Revenue fell from
FY2025 ended with liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Core Scientific, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Core Scientific, Inc. has an operating margin of -77.0%, meaning the company loses $77 on every $100 of revenue. This results in a profitability score of 11/100. This is down from -27.8% the prior year.
Core Scientific, Inc.'s revenue declined 37.5% year-over-year, from $510.7M to $319.0M. This contraction results in a growth score of 4/100.
Core Scientific, Inc.'s current ratio of 1.15 is below the typical benchmark, resulting in a score of 27/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Core Scientific, Inc.'s reported free cash flow margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 4/100.
Core Scientific, Inc. scores -1.86, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $4.1B against total assets of $2.3B. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Core Scientific, Inc. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Core Scientific, Inc. reported a net loss of $288.6M while generating $278.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Core Scientific, Inc. generated $164.2M in revenue in Q2 2026. This represents an increase of 108.8% from the same quarter a year earlier. Against the prior quarter it is up 42.5%.
Core Scientific, Inc.'s EBITDA was -$63.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Core Scientific, Inc. reported a net loss of $1.2B in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Core Scientific, Inc. earned -$3.32 per diluted share (EPS) in Q2 2026. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Cash & Balance Sheet
Core Scientific, Inc. recorded an outflow of $583.9M in free cash flow in Q2 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Core Scientific, Inc. held $1.8B in cash against $4.3B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Core Scientific, Inc.'s gross margin was 42.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 36.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 16.5 percentage points.
Core Scientific, Inc.'s operating margin was -47.8% in Q2 2026, reflecting core business profitability. This is down 14.4 percentage points from the same quarter a year earlier.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for Q2 2026.
Capital Allocation
Core Scientific, Inc. invested $565.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 365.9% from the same quarter a year earlier. Against the prior quarter it is up 45.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
CORZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q/A | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q/A |
|---|---|---|---|---|---|---|---|---|
| Revenue | $164.2M+108.8% | $115.2M+44.9% | $79.8M-16.0% | $81.1M-14.9% | $78.6M-44.3% | $79.5M-55.6% | $94.9M-33.1% | $95.4M-15.5% |
| Cost of Revenue | $94.2M+27.9% | $85.1M+19.4% | $59.0M-34.6% | $77.2M-19.2% | $73.6M-28.0% | $71.3M-29.8% | $90.2M-12.1% | $95.5M-2.0% |
| Gross Profit | $70.0M+1293.9% | $30.1M+266.6% | $20.8M+335.8% | $3.9Mn/m | $5.0M-87.1% | $8.2M-89.4% | $4.8M-87.9% | -$156K-101.0% |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | $5.0M+167.4% | $2.8M+26.1% |
| SG&A Expenses | $49.4M+9.1% | $44.8M+38.9% | $12.3M-50.9% | $69.4M+71.9% | $45.3M+44.3% | $32.3M+90.8% | $25.0M-29.1% | $40.3M+64.3% |
| Operating Income | -$78.5Mn/m | -$310.4Mn/m | -$117.5Mn/m | -$54.8Mn/m | -$26.3Mn/m | -$47.0M-185.2% | -$65.4M-1762.2% | -$41.2Mn/m |
| EBITDA | -$63.1Mn/m | -$293.8Mn/m | -$103.4Mn/m | -$38.5Mn/m | -$7.5Mn/m | -$27.3M-132.4% | -$39.4M-212.0% | -$12.5M-202.8% |
| Interest Expense | $40.6M+755.0% | $8.2M+71.9% | N/A | N/A | $4.8M-67.8% | $4.7M-66.3% | $1.1M | $7.1M+222.0% |
| Income Tax | $1.9M+1107.0% | $600K+192.7% | $95K-74.7% | $125K-6.7% | $158K+9.7% | $205K-0.5% | $375K+11.6% | $134K+17.5% |
| Net Income | -$1.2Bn/m | -$347.2M-160.2% | $216.0Mn/m | -$144.0Mn/m | -$936.8Mn/m | $576.3M+173.5% | -$291.1Mn/m | -$455.3Mn/m |
| EPS (Basic) | -$3.32 | -$1.06-174.6% | $0.60n/m | -$0.45n/m | -$0.04 | $1.42 | -$0.69n/m | -$1.17n/m |
| EPS (Diluted) | -$3.32 | -$1.06-185.5% | $0.60n/m | -$0.45n/m | -$0.04 | $1.24 | -$0.69n/m | -$1.17n/m |
| Diluted Shares (Avg) | 325M | 323M-11.1% | N/A | 319M+8.9% | 318M | 363M | N/A | 292M-23.5% |
CORZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q/A | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q/A |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.3B+184.1% | $3.1B+104.9% | $2.3B+59.1% | $2.2B+163.3% | $1.9B+178.6% | $1.5B+84.0% | $1.5B+107.3% | $824.6M+16.9% |
| Current Assets | $2.4B+143.2% | $1.5B+74.6% | $895.5M-0.9% | $1.1B+281.9% | $1.0B+752.5% | $833.2M+481.3% | $904.0M+831.8% | $277.9M+106.2% |
| Cash & Equivalents | $1.8B+204.4% | $1.0B+44.0% | $311.4M-62.8% | $453.4M+79.2% | $581.3M+504.8% | $697.9M+611.3% | $836.2M+1558.8% | $253.0M+500.3% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | $1.0M-8.0% | $1.0M+2.4% | $6.2M |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Total Liabilities | $7.7B+152.3% | $4.4B+142.1% | $3.3B+36.8% | $3.4B+107.4% | $3.0B+64.9% | $1.8B+59.6% | $2.4B+84.8% | $1.7B+46.9% |
| Current Liabilities | $2.7B+386.5% | $2.7B+1261.5% | $781.4M+480.7% | $669.9M+775.5% | $562.7M+652.1% | $195.5M+41.5% | $134.6M-72.4% | $76.5M-75.5% |
| Non-Current Liabilities | $4.9B+99.2% | $1.7B+6.3% | $2.5B+10.7% | $2.8B+74.9% | $2.5B+40.1% | $1.6B+62.1% | $2.3B+178.4% | $1.6B+94.0% |
| Long-Term Debt | $4.3B | $1.1B | $1.1B | N/A | N/A | N/A | N/A | N/A |
| Total Equity | -$2.4Bn/m | -$1.3Bn/m | -$962.7Mn/m | -$1.3Bn/m | -$1.2Bn/m | -$308.8Mn/m | -$943.0Mn/m | -$826.7Mn/m |
| Retained Earnings | -$5.6Bn/m | -$4.5Bn/m | -$4.1Bn/m | -$4.4Bn/m | -$4.2Bn/m | -$3.3Bn/m | -$3.9Bn/m | -$3.6Bn/m |
Not reported in any period shown, so not listed: Inventory, Goodwill.
CORZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q/A | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q/A |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.9M-155.7% | $249.9Mn/m | $157.5M+1041.0% | $131.8M+2206.7% | $34.0M+2723.9% | -$45.0M-303.1% | $13.8M-36.4% | $5.7M+5.1% |
| Depreciation & Amortization | $15.4M-18.0% | $16.6M-15.6% | $14.1M-45.9% | $16.3M-43.1% | $18.8M-36.3% | $19.7M-32.0% | $26.0M-16.5% | $28.7M+18.4% |
| Stock-Based Compensation | $18.2M-24.5% | $17.8M+9.7% | N/A | $29.9M+47.6% | $24.2M+184.6% | $16.2Mn/m | N/A | $20.3M+36.5% |
| Capital Expenditures | $565.0M+365.9% | $389.2M+363.5% | $279.2M+871.0% | $244.5M+684.3% | $121.3M+3768.5% | $84.0M+163.3% | $28.8M+147.0% | $31.2M+1036.9% |
| Free Cash Flow | -$583.9Mn/m | -$139.3Mn/m | -$121.7Mn/m | -$112.7Mn/m | -$87.3Mn/m | -$129.0Mn/m | -$15.0M-248.7% | -$25.5M-1045.8% |
| Investing Cash Flow | -$796.2Mn/m | -$386.7Mn/m | -$277.8Mn/m | -$254.4Mn/m | -$119.6Mn/m | -$89.0Mn/m | -$28.8M-1320.3% | -$31.2Mn/m |
| Financing Cash Flow | $2.2Bn/m | $971.4Mn/m | -$21.8M-103.6% | -$5.3M-102.9% | -$31.8Mn/m | -$4.2M-107.7% | $598.2Mn/m | $182.2Mn/m |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
CORZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q/A | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q/A |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.7%+36.3pp | 26.1%+15.8pp | 26.0%+21.0pp | 4.8%+5.0pp | 6.4%-21.1pp | 10.3%-33.0pp | 5.0%-22.7pp | -0.2%-13.8pp |
| Operating Margin | -47.8%-14.4pp | -269.4% | -147.3% | -67.6%-24.3pp | -33.4%+30.8pp | -59.2%-90.0pp | -68.9%-71.7pp | -43.2%-32.6pp |
| Net Margin | -703.6% | -301.3% | 270.8% | -177.6% | -1191.4% | 724.6% | -306.7% | -477.4% |
| Return on Assets | -22.0%+28.6pp | -11.3%-49.8pp | 9.2%+28.9pp | -6.6%+48.6pp | -50.6%+85.2pp | 38.5%+12.6pp | -19.7%+7.7pp | -55.2%-49.4pp |
| Current Ratio | 0.89-0.9x | 0.55-3.7x | 1.15-5.6x | 1.58-2.0x | 1.79+0.2x | 4.26+3.2x | 6.72+6.5x | 3.63+3.2x |
| Asset Turnover | 0.030.0x | 0.040.0x | 0.030.0x | 0.04-0.1x | 0.04-0.2x | 0.05-0.2x | 0.06-0.1x | 0.120.0x |
| FCF Margin | -355.6% | -120.9% | -152.6% | -139.0% | -111.0% | -162.2% | -15.8%-22.8pp | -26.7%-29.1pp |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$962.7M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Core Scientific, Inc. CORZ | FY2025 | $319.0M | -$288.6M | -90.5% | $4.2B | 19/100 |
| Zeta Global Holdings Corp. ZETA | FY2025 | $1.3B | -$31.5M | -2.4% | $8.5B | 59/100 |
| BOX, INC. BOX | FY2026 | $1.2B | $115.4M | 9.8% | $5.9B | 56/100 |
| Cellebrite DI Ltd. CLBT | FY2025 | $475.7M | $78.3M | 16.5% | $3.0B | 67/100 |
Where Core Scientific, Inc. Ranks
Frequently Asked Questions
What is Core Scientific, Inc.'s annual revenue?
Core Scientific, Inc. (CORZ) reported $319.0M in total revenue for fiscal year 2025. This represents a -37.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Core Scientific, Inc.'s revenue growing?
Core Scientific, Inc. (CORZ) revenue declined by 37.5% year-over-year, from $510.7M to $319.0M in fiscal year 2025.
Is Core Scientific, Inc. profitable?
No, Core Scientific, Inc. (CORZ) reported a net loss of $1.4B over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $288.6M, with a net profit margin of -90.5%.
What is Core Scientific, Inc.'s EBITDA?
Core Scientific, Inc. (CORZ) had EBITDA of -$176.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Core Scientific, Inc. have?
As of fiscal year 2025, Core Scientific, Inc. (CORZ) had $311.4M in cash and equivalents against $1.1B in long-term debt.
What is Core Scientific, Inc.'s gross margin?
Core Scientific, Inc. (CORZ) had a gross margin of 11.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Core Scientific, Inc.'s operating margin?
Core Scientific, Inc. (CORZ) had an operating margin of -77.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Core Scientific, Inc.'s net profit margin?
Core Scientific, Inc. (CORZ) had a net profit margin of -90.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Core Scientific, Inc.'s free cash flow?
Core Scientific, Inc. (CORZ) recorded an outflow of $450.8M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Core Scientific, Inc.'s operating cash flow?
Core Scientific, Inc. (CORZ) generated $278.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Core Scientific, Inc.'s total assets?
Core Scientific, Inc. (CORZ) had $2.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Core Scientific, Inc.'s capital expenditures?
Core Scientific, Inc. (CORZ) invested $729.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Core Scientific, Inc.'s current ratio?
Core Scientific, Inc. (CORZ) had a current ratio of 1.15 as of fiscal year 2025, which is considered adequate.
What is Core Scientific, Inc.'s return on assets (ROA)?
Core Scientific, Inc. (CORZ) had a return on assets of -12.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Core Scientific, Inc.'s P/E ratio?
Core Scientific, Inc. (CORZ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $4.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Core Scientific, Inc.'s price-to-sales ratio?
Core Scientific, Inc. (CORZ) trades at 9.6x sales, its market capitalization divided by $440.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $4.2B as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Core Scientific, Inc.'s debt-to-equity ratio negative or not reported?
Core Scientific, Inc. (CORZ) has negative shareholder equity of -$962.7M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Core Scientific, Inc.'s Altman Z-Score?
Core Scientific, Inc. (CORZ) has an Altman Z-Score of -1.86, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Core Scientific, Inc.'s Piotroski F-Score?
Core Scientific, Inc. (CORZ) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Core Scientific, Inc.'s earnings high quality?
Core Scientific, Inc. (CORZ) reported a net loss of $288.6M while generating $278.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Core Scientific, Inc.?
Core Scientific, Inc. (CORZ) scores 19 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is the average of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.