Cerebras (CBRS) Q1 earnings report 2026
Andrew Feldman, co-founder and CEO of Cerebras Systems, holds the Wafer Scale Engine 3 chip on the Nasdaq MarketSite in New York on May 14, 2026.
Michael Nagle | Bloomberg | Getty Images
Brains mentioned income virtually doubled within the AI chipmaker’s first earnings report since its initial public offering final month. The inventory fell 8% in prolonged buying and selling as the corporate forecast a drop in its gross margin.
Here’s how the corporate did:
- Loss per share: 22 cents
- Revenue: $193.4 million
The firm’s income elevated 92% within the first quarter from $99.5 million a yr earlier, in accordance with a statement. Net loss narrowed to $14 million from $23.9 million, or 46 cents per share, a yr in the past.
Capitalizing on investor curiosity in infrastructure for working AI fashions, Cerebras went public on the Nasdaq in May. After pricing its IPO at $185, Cerebras noticed its inventory open at $350 and shut at $311.07.
The shares have since dropped 28%, closing on Tuesday at $226.72.
Cerebras mentioned its core gross margin, or the revenue left after accounting for the price of items offered, will shrink to between 36% and 38% within the second quarter from 46.5% within the first.
The firm mentioned it expects core income development of 88% from a yr earlier to $914 million. And full-year core income will likely be between $855.5 million and $865 million, representing 69% development on the midpoint, Cerebras mentioned.
Founded in 2015, the Cerebras raised over $6 billion within the providing, essentially the most for a US expertise firm since Uber‘s debut in 2019.
Cerebras is attempting to problem AI chip chief Nvidia in a single nook of the market, and it additionally operates a service for working AI fashions by means of information facilities full of its processors.
Cerebras enjoys a efficiency benefit partially by packing many instances extra SRAM reminiscence on its chip than Google’s newest tensor processing unit or the Groq 3 LPU chip that Nvidia introduced in March, Mizuho mentioned in a June 8 word to shoppers.
During the primary quarter, Cerebras mentioned its chips will go inside amazon Web Services’ information facilities, and it announced a deal price over $20 billion to provide OpenAI with computing energy.
Executives will focus on the outcomes with analysts on a convention name beginning at 5 pm ET.
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