Cerebras Systems raised its full-year outlook in the second earnings report following its May IPO. Nevertheless, the stock declined about 14% after the earnings release.
Cerebras Q2 Highlights
- Revenue: $180 million, versus $194 million expected
- Loss per share: 5 cents adjusted, versus 17 cents expected
The company revised its full-year outlook upward, now projecting core revenue between $880 million and $890 million, compared to the previous estimate of $855 million to $865 million.
Cerebras anticipates core revenue for Q3 to be between $214 million and $216 million.
“This was an outstanding quarter for Cerebras. Core revenue more than doubled to $210 million, and our cloud business nearly quadrupled year-over-year,” said Andrew Feldman, Cerebras co-founder and CEO. “Speed changes what AI can do. It makes AI more useful, more productive, and opens entirely new markets. As a result, the demand for fast inference is enormous and Cerebras is scaling to meet it, securing more data center capacity, expanding manufacturing, and growing with customers and partners including OpenAI, AWS, AMD, and CrowdStrike.”
“Our quarterly results exceeded our guidance across all core business metrics. The market has responded strongly to the value of fast inference. We significantly improved core gross and operating margins compared to a year ago,” said Bob Komin, Chief Financial Officer of Cerebras. “We have made rapid progress in key areas required to deliver exceptional growth against our remaining performance obligations of $25.4 billion, and plan to more than triple revenue in 2027.”
Recently, Cerebras revealed it has teamed up with AMD, Nvidia’s competitor, to start product production later this year. Additionally, Cerebras announced that OpenAI is allowed to use its chips to run its new model, GPT 5.6 Sol.
Cerebras went public on Nasdaq in May, riding waves of investor enthusiasm for AI-capable semiconductors. It set its IPO price at $185, raising $6.4 billion. Although the stock reached its highest point in May and declined afterward, it closed Wednesday at $262.06, marking a 42% increase from its IPO price.
By CEO NA Editorial Staff
