The Ledger ResearchPrivate

The Front Office

Scouting report · CRWV

Nitin Agrawal

  • Chief Financial Officer & Treasurer, CRWV since 2024-03src

CFO since March 2024 after finance roles at Google Cloud and AWS

B+75 / 100

Ranked #15 of 23

Scouting sheet

as of 24 Sep 2026
Delivers guidance744 beat · 1 met · 2 missed · 0 withdrawn
Answers the question940 dodges in 7 answers on 1 call
Capital allocation—company five-year record: neutral — inherited: the five-year record is mostly a predecessor's
Pay design40individual, time only · 99.76% for · company lost money
Skin in the game91stake worth $43.9m, 43× last year's pay
Age
46src
In the role
3 yr
Promises scored
7
Hit rate
71%
Dodges / 100 answers
0.0
Airtime on calls
29%
Every promise, oldest firstBBBXXBM

What to weigh

Watch 4

  • The three material weaknesses sit in his function: IT general controls, segregation of duties, and too few qualified accounting and finance staff. They were identified preparing the FY2024 accounts and still unremediated at 2025-12-31. First management and auditor ICFR report is due with the FY2026 10-Ksrc
  • The FY2025 annual guides he set missed: adjusted operating income $800-830m came in at $668m (below the cut range too), and capex $20-23bn was cut about 40% on 2025-11-10 and ended at $14.9bn (dossier S8 rows 6-7)src
  • Sold about $44.6m of Class A stock in the twelve months to 2026-09-24 and bought none. $19.6m was under a 10b5-1 plan. $25.0m was not plan-marked and fell on RSU vesting datessrc
  • Reported 2025 pay of $1.01m leaves out his March 2025 RSU grant ($10.5m target, grant-date value $7,372,710 had its IPO liquidity condition been counted)src

In their favour 1

  • Quarterly guidance has been reliably met or beaten: 8 of 8 revenue and adjusted operating income guides for Q2 2025 to Q2 2026, per the dossier's S8src

Career

  1. 2024-03 – now
    CoreWeavesrc
    Chief Financial Officer; also Treasurer since June 2025
    Hired a year before the March 2025 IPO, which he took the company through as CFO
  2. 2021-05 – 2024-03
    Google Cloud (Alphabet)src
    Vice President, Finance
  3. 2019-08 – 2021-04
    Mapbox, Inc.src
    Chief Financial Officer (location technology company)
  4. 2015-01 – 2019-07
    Amazon Web Servicessrc
    Finance Director, Compute Services division

Not located: Before January 2015 not located in the proxy, the prospectus or the search results read. The proxy gives no years for either degree

Achievements

  • Nine years of technology finance before CoreWeave: finance director for AWS compute (2015-2019), CFO of Mapbox (2019-2021), VP Finance at Google Cloud (2021-2024)src
  • Was CFO at the March 2025 IPO, a year after joiningsrc
  • Gives all of CoreWeave's numeric guidance on the calls. Every quarterly revenue guide he gave from Q2 2025 to Q2 2026 was met or beaten (dossier S8 rows 1, 3, 9, 11)src

Education

  • National Institute of Technology, Kurukshetra (India), BTech Engineeringsrc
  • Duke University, Fuqua School of Business, MBA Financesrc

Background

  • Family The IPO prospectus states there are no family relationships among any executive officers or directorssrc
  • Other Hired from outside rather than a co-founder. He has an at-will offer letter; the three founders have none. His 2024 new-hire RSUs would have vested in full on a change in control before 2026-03-11 (valued at $78,841,178 at 2025-12-31); that right has now lapsedsrc
  • Legal Named as a defendant with the CEO and the Chief Development Officer in the putative securities class action Masaitis v. CoreWeave (D.N.J., filed 2026-01-12). The complaint cites his 2025-08-12 raise of FY2025 revenue guidance among the statements it calls misleading. The company says the claims are without meritsrc

The promise ledger

7 scored · 0 open
ResultWhat was promisedWhere it is scoredHow
B BeatQ2 2025 · revenue $1.06–1.10bnCRWV row 1said it
B BeatQ3 2025 · revenue $1.26–1.30bnCRWV row 3said it
B BeatFY2025 · revenue $4.9–5.1bnCRWV row 5said it
X MissedFY2025 · adjusted operating income $800–830mCRWV row 6said it
X MissedFY2025 · capex $20–23bn (management's measure)CRWV row 7said it
B BeatQ1 2026 · revenue $1.9–2.0bnCRWV row 9said it
M MetQ2 2026 · revenue $2.45–2.6bnCRWV row 11said it

Questions dodged

0.0 per 100 answers

None logged on the calls reviewed.

Calls reviewed

  • FY2026-Q2.roic.json — 7 answers, 29% of the words

Sources

11
  1. Filing CoreWeave DEF 14A, 2026 annual meeting (accession 0001769628-26-000191) · 2026-04-22
  2. Filing CoreWeave 8-K Item 5.07, 2026 annual meeting results (0001769628-26-000270) · 2026-06-10
  3. Filing CoreWeave IPO prospectus, 424B4 (0001193125-25-067651) · 2025-03-31
  4. Filing CoreWeave FY2025 10-K (0001769628-26-000104) · 2026-03-02
  5. Filing SEC XBRL companyconcept us-gaap/NetIncomeLoss, CIK 1769628 (FY2025 10-K, 0001769628-26-000104) · 2026-03-02
  6. Data connector Equibles GetInsiderTransactions(ticker=CRWV, insiderName=Agrawal, fromDate=2025-09-24, toDate=2026-09-24), 84 rows incl. 59 sale lines · 2026-09-24
  7. Data connector Equibles GetInsiderTransactions(ticker=CRWV, transactionType=Buy, fromDate=2025-09-24, toDate=2026-09-24): 12 rows, all Magnetar put options; none by Agrawal · 2026-09-24
  8. Call transcript CRWV Q3 2025 earnings call (2025-11-10), ROIC.ai
  9. Call transcript CRWV Q2 2026 earnings call (2026-08-11), ROIC.ai
  10. Web search result WebSearch: CoreWeave press release 'CoreWeave Announces Nitin Agrawal as Chief Financial Officer and Additional Senior Leadership Changes' (appointed 2024-03-12) · 2026-09-24
  11. Web search result WebSearch: Masaitis v. CoreWeave, No. 26-cv-00355 (D.N.J.), class period 2025-03-28 to 2025-12-15; defendants CoreWeave, Intrator, Agrawal, McBee (CCH Securities Regulation Daily summary) · 2026-09-24