TakeoverPE & activists

CORZCore Scientific, Inc./tx

Finance Services · $4.2B market cap · 325 employees

0.9×

About as likely as average to be taken private

Top 19% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works

Takeover signals

What an activist or buyer would see: cheap, overpaid, diluted or under pressure.

4of 15 firedHow well they predict deals →
11 other checks
  • TSR below peersNo
    —
    3+ of last 5 years
  • High CEO pay despite TSRNo
    —
    Median CEO pay ≥ $15M while TSR trails
  • Earnings not backed by cashNo
    —
    Cash flow under 80% of net income
  • Payouts exceed cash flowNo
    0% of cash flow
    Buybacks + dividends over cash flow
  • Goodwill-heavyNo
    0% of assets
    Over 40% of assets
  • Low revenue per employeeNo
    $982K · 67th pct
    Bottom quartile of its SIC industry
  • Quiet on AINo
    6.6 per 10K words · 87th pct
    Bottom quartile of AI mentions in 10-Ks
  • Net cashNo
    —
    More cash than debt, positive EBITDA
  • Recurring revenueNo
    6 of 10
    10-K business scored 7+ of 10 for recurring revenue
  • AI-rollup shapedNo
    0 of 10
    10-K business scored 5+ of 10 as an AI-rollup target
  • Net insider sellingNo
    −$6M net
    Net sales over $10M in 12 months

Deal filings

FiledFormAcquirerPricePremium
Sep 26, 2025DEFM14ACoreWeave, Inc.$5.7527.2%
Jul 7, 20258-KCoreWeave, Inc.——
Jan 3, 2022DEFM14APower & Digital Infrastructure Acquisition Corp.$10.00100%

Key numbers

Revenue
$319MFY2021: $544MFY2022: $640MFY2023: $502MFY2024: $511MFY2025: $319M
38% YoY
Operating margin
-77.0%FY2021: 24.2%FY2022: -329.5%FY2023: 1.8%FY2024: -27.8%FY2025: -77.0%
177% YoY
EBITDA
−$177MFY2021: $165MFY2022: −$1.9BFY2023: $105MFY2024: −$29MFY2025: −$177M
512% YoY
Net debt / EBITDA
—
$286M net debt

Financials

MetricFY2021FY2022FY2023FY2024FY2025YoYTrend
Revenue$544M$640M$502M$511M$319M 38% FY2021: $544MFY2022: $640MFY2023: $502MFY2024: $511MFY2025: $319M
Operating income$131M−$2.1B$9M−$142M−$246M 73% FY2021: $131MFY2022: −$2.1BFY2023: $9MFY2024: −$142MFY2025: −$246M
Net income$47M−$2.1B−$246M−$1.4B−$289M 80% FY2021: $47MFY2022: −$2.1BFY2023: −$246MFY2024: −$1.4BFY2025: −$289M
Operating cash flow−$57M$205M$65M$43M$278M 549% FY2021: −$57MFY2022: $205MFY2023: $65MFY2024: $43MFY2025: $278M
Capex$0$384M$16M$95M$729M 668% FY2021: $0FY2022: $384MFY2023: $16MFY2024: $95MFY2025: $729M
Stock-based comp$39M$183M$59M$52M$98M 89% FY2021: $39MFY2022: $183MFY2023: $59MFY2024: $52MFY2025: $98M
Buybacks—$32M$0$0—FY2022: $32MFY2023: $0FY2024: $0

13D filers

FiledFilerFormStakeIntent
Aug 4, 2026Situational Awareness LPSCHEDULE 13D/A4.4%Passive
Apr 23, 2026Two Seas Capital LPSCHEDULE 13D/A4.4%Passive
Apr 16, 2026Two Seas Capital LPSCHEDULE 13D/A5.7%Passive
Mar 20, 2026Two Seas Capital LPSCHEDULE 13D/A5.5%Passive
Mar 4, 2026Two Seas Capital LPSCHEDULE 13D/A5.9%Active
Feb 19, 2026Two Seas Capital LPSCHEDULE 13D/A6.7%Active
Jan 20, 2026Two Seas Capital LPSCHEDULE 13D/A7.2%Passive
Dec 18, 2025Two Seas Capital LPSCHEDULE 13D/A8.1%Active
Dec 1, 2025Two Seas Capital LPSCHEDULE 13D/A7.9%Passive
Nov 17, 2025Two Seas Capital LPSCHEDULE 13D/A8.0%Passive

Insider trading

−$6Mnet selling by insiders, open market, last 12 months
Bought $552K · 5 tradesSold $6M · 49 trades

Pay vs performance

No pay-versus-performance disclosure yet.