Cerebras Systems Inc. (NASDAQ:CBRS) posted its first-quarter results after Tuesday’s closing bell. Shares fell despite beats on both the top and bottom lines. Here’s a look at the details inside the report.
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Cerebras Q1 Details
Cerebras Systems reported quarterly losses of four cents per share, which beat the analyst estimate for a loss of 16 cents, according to Benzinga Pro data.
Quarterly revenue clocked in at $193.41 million, which beat the Street estimate of $181.59 million by 6.5%.
Cerebras reported the following core (Non-GAAP) first-quarter figures:
- Core total revenue of $191.3 million, up 12% sequentially and up 92% year-over-year.
- Core hardware revenue of $111.6 million, up 60% year-over-year.
- Core cloud and other services revenue of $79.8 million, up 167% year-over-year.
- Core gross margin of 47%
- Core hardware gross margins of 42%
- Core cloud and other services gross margins of 53%
“This was an outstanding start to 2026 for Cerebras. And we are proud of our achievements," said Andrew Feldman, Cerebras CEO.
"AI has moved from being a novelty to being useful and productive. Cerebras’ wafer-scale technology delivers the fastest AI in the world,” Feldman added.
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Looking Ahead
Cerebras System expects fiscal year core revenue of $855 million to $865 million, up 69% year-over-year at the midpoint and core gross margin in the range of 38% to 41%.
CBRS Stock Price Activity: According to data from Benzinga Pro, Cerebras stock was down 7.37% to $210 in Tuesday’s extended trading.
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