Cerebras Systems (NASDAQ:CBRS) Announces Earnings Results

13 Aug 2026, 00:10 by Kim Johansen · The Markets Daily

Cerebras Systems (NASDAQ:CBRS – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($2.98) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($2.77), FiscalAI reports. The firm had revenue of $209.87 million for the quarter. The firm’s revenue for the quarter was up 74.3% on a year-over-year basis.

Here are the key takeaways from Cerebras Systems’ conference call:

Q2 exceeded guidance, with core revenue of $209.9 million, up 103% year over year, core gross margin of 40.6%, and core operating margin of negative 16%.
Management raised its full-year 2026 outlook to core revenue of $880 million–$890 million, gross margin of 41%–43%, and operating margin of negative 19% to negative 17%; it expects Q3 gross margin to be the low point before improving in Q4.
Cerebras reported $25.4 billion of remaining performance obligations and expects to more than triple core revenue in 2027, supported by more than 600 megawatts of data-center capacity secured or under contract and manufacturing capacity expected to increase more than tenfold in 2026.
The company is expanding its inference opportunity through disaggregated solutions with AMD and AWS, combining GPU or Trainium prefill with Cerebras decode; management said the AMD configuration can preserve Cerebras speed while increasing throughput by up to 5x.
AWS deployment is expected to become generally available through Amazon Bedrock in Q1 2027, while additional hyperscaler revenue is expected from mid-2027; management acknowledged that OpenAI will remain a meaningful customer but should decline as a percentage of revenue over time.

Cerebras Systems Price Performance

Cerebras Systems stock traded up $27.30 during mid-day trading on Wednesday, reaching $262.06. 10,933,330 shares of the company were exchanged, compared to its average volume of 6,770,724. The firm’s fifty day simple moving average is $208.55. Cerebras Systems has a 12 month low of $160.81 and a 12 month high of $386.34.

Cerebras Systems News Summary

Here are the key news stories impacting Cerebras Systems this week:

Positive Sentiment: Strong second-quarter growth: Cerebras reported revenue of $209.87 million, while adjusted earnings per share of negative $0.04 exceeded the consensus estimate of negative $0.21. Core cloud revenue surged 287% year over year to $127.7 million, highlighting robust demand for AI computing capacity. Cerebras Systems earnings press release
Positive Sentiment: Raised full-year outlook: Management lifted 2026 core revenue guidance to $880 million-$890 million, above the $864.6 million analyst consensus. Third-quarter revenue guidance of $214 million-$216 million also exceeded the $211 million consensus, supporting the bullish case for continued AI-chip demand. Reuters article on Cerebras annual targets
Positive Sentiment: Favorable industry backdrop: The company raised its revenue and gross-margin forecasts as customers expand data-center infrastructure for AI services, reinforcing expectations that Cerebras can benefit from demand for fast inference and specialized AI chips. Insider Monkey article on Cerebras fast inference
Neutral Sentiment: Conflicting initial interpretations: Some reports described the results as missing expectations, while other figures show an EPS beat and guidance above consensus. The discrepancy indicates that the market may be evaluating revenue quality, margins, or expectations beyond the headline numbers. CNBC article on Cerebras earnings
Negative Sentiment: Post-earnings selling: Despite the strong operating update, shares declined after the report, suggesting investors had priced in an even stronger outcome or remained concerned about profitability and valuation. The reaction highlights the high expectations facing CBRS after its IPO. Blockonomi article on Cerebras results

Insiders Place Their Bets

In related news, CEO Andrew D. Feldman sold 17,990 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $173.06, for a total transaction of $3,113,349.40. Following the completion of the sale, the chief executive officer directly owned 17,990 shares in the company, valued at $3,113,349.40. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Dhiraj Mallick sold 36,131 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $169.28, for a total value of $6,116,255.68. Following the transaction, the chief operating officer directly owned 33,314 shares of the company’s stock, valued at approximately $5,639,393.92. The trade was a 52.03% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 117,547 shares of company stock worth $20,676,799 over the last 90 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen initiated coverage on shares of Cerebras Systems in a research note on Monday, June 8th. They set a “buy” rating and a $275.00 price target for the company. Craig Hallum initiated coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They set a “buy” rating and a $325.00 price objective for the company. Citigroup assumed coverage on shares of Cerebras Systems in a research report on Monday, June 8th. They issued a “buy” rating and a $340.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Cerebras Systems in a report on Wednesday, June 24th. Finally, Zacks Research raised shares of Cerebras Systems to a “hold” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $300.30.

View Our Latest Analysis on Cerebras Systems

Cerebras Systems Company Profile

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Cerebras Systems is a technology company focused on building artificial intelligence infrastructure, including hardware and software designed to accelerate deep learning and large-scale AI workloads. The company is best known for its wafer-scale processor architecture, which is intended to provide high-performance compute for training and inference applications.