Cerebras (CBRS) Q1 earnings report 2026

Key Points:

• Cerebras reported a 92% increase in first-quarter revenue to $193.4 million, with a narrowed net loss of $14 million compared to the previous year, marking its first earnings report since going public in May.
• Despite strong revenue growth, the company's stock fell 8% in extended trading due to a forecasted decline in gross margin to 36-38% in the second quarter from 46.5% in Q1.
• Cerebras expects full-year core revenue between $855.5 million and $865 million, representing approximately 69% growth year-over-year, driven by demand for AI infrastructure.
• The company raised over $6 billion in its IPO, the largest U.S. tech offering since Uber's 2019 debut, and is positioning itself as a competitor to Nvidia by leveraging its chip's superior SRAM memory capacity.
• Cerebras announced partnerships including integration of its chips into Amazon Web Services data centers and a $20 billion deal to supply computing power to OpenAI.