Inferra AI / Company / CBRS
Cerebras Systems
CBRS · Information Technology
Last earnings Aug 12, 2026 · Next earnings Nov 12, 2026
Key results
Revenuequarter
281%
revenue grew 281%, core cloud
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
revenue grew 287% from a year ago 600 MW of data center capacity now under contract Manufacturing capacity to scale more than 10x in 2026 OpenAI launch partner for frontier model GPT-5.6 Sol Partnerships with AMD and AWS establish Cerebras as the leader in disaggregated inference SUNNYVALE, Calif.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Core revenuequarter
$210 million
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.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Growthquarter
up 281%
revenue of $126.0 million, up 281% year-over-year Record core cloud and other services
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
revenue of $127.7 million, up 287% year-over-year.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
GAAP total revenue of $180.1 million, up 74% year-over-year Core total revenue of $209.9 million, up 103% year-over-year.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
GAAP gross marginquarter
14%
GAAP gross margin of 14% Core gross margin of 41%, an improvement of approximately 940 basis points from Q2 25.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Core gross marginquarter
41%
GAAP gross margin of 14% Core gross margin of 41%, an improvement of approximately 940 basis points from Q2 25.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
GAAP operating marginquarter
265%
GAAP operating margin of (265%) Core operating margin of (16%), an improvement of approximately 2,600 basis points from Q2 25.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Core operating marginquarter
16%
GAAP operating margin of (265%) Core operating margin of (16%), an improvement of approximately 2,600 basis points from Q2 25.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
AI analysis
Q2 2026 · reported Aug 12, 2026
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q2 2026 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | 281% | — | — |
| Core revenue | $210 million | — | — |
| Growth | up 281% | — | — |
| GAAP gross margin | 14% | — | — |
| Core gross margin | 41% | — | — |
| GAAP operating margin | 265% | — | — |
| Core operating margin | 16% | — | — |
Guidance · company-stated
Direction: Raised
“Third Quarter 2026 Financial Outlook Core Non-GAAP Financial Outlook Core revenue of approximately $214 to $216 million Core gross margin in the range of 38% - 40% Core operating margins in the range of (25%) to (23%) Full Year 2026 Financial Outlook Core Non-GAAP Financial Outlook has been raised for all metrics Core revenue of $880 to $890 million Core gross margin in the range of 41% - 43% Core operating margins in the range of (19%) to (17%) Earnings Webcast and Conference Call Cerebras Systems will host a conference call to review its financial results for the second quarter of 2026 and to discuss our financial outlook today at 2 p.”
Classified from the release's primary full-year outlook statement.
Margin
Capital allocation
Strong liquidity with cash, cash equivalents, restricted cash, and short-term investments of $8.6 billion and debt capacity of $850 million.
Business Highlights General Successfully raised $6.4 billion in gross proceeds through our IPO and closed a revolving credit facility for up to $850 million to accelerate the pace of our data center acquisitions.
Company-stated claims
Historical · doubled · revenue
“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.”
EX-99 · Aug 12, 2026Forward-looking · triple · backlog_orders
“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.”
EX-99 · Aug 12, 2026Forward-looking · 10x · capacity
“Manufacturing capacity to increase more than 10x in 2026.”
EX-99 · Aug 12, 2026Event summary
Our quarterly results exceeded our guidance across all core business metrics
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
Direction: Raised
Revenue: “Third Quarter 2026 Financial Outlook Core Non-GAAP Financial Outlook Core revenue of approximately $214 to $216 million Core gross margin in the range of 38% - 40% Core operating margins in the range of (25%) to (23%) Full Year 2026 Financial Outlook Core Non-GAAP Financial Outlook has been raised for all metrics Core revenue of $880 to $890 million Core gross margin in the range of 41% - 43% Core operating margins in the range of (19%) to (17%) Earnings Webcast and Conference Call Cerebras Systems will host a conference call to review its financial results for the second quarter of 2026 and to discuss our financial outlook today at 2 p.”
Revenue — Raised (“raised”)
“Third Quarter 2026 Financial Outlook Core Non-GAAP Financial Outlook Core revenue of approximately $214 to $216 million Core gross margin in the range of 38% - 40% Core operating margins in the range of (25%) to (23%) Full Year 2026 Financial Outlook Core Non-GAAP Financial Outlook has been raised for all metrics Core revenue of $880 to $890 million Core gross margin in the range of 41% - 43% Core operating margins in the range of (19%) to (17%) Earnings Webcast and Conference Call Cerebras Systems will host a conference call to review its financial results for the second quarter of 2026 and to discuss our financial outlook today at 2 p.”
Classified from the release's primary full-year outlook statement.
Capital allocation
Strong liquidity with cash, cash equivalents, restricted cash, and short-term investments of $8.6 billion and debt capacity of $850 million.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Business Highlights General Successfully raised $6.4 billion in gross proceeds through our IPO and closed a revolving credit facility for up to $850 million to accelerate the pace of our data center acquisitions.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Refer to Note 10 - Debt and Note 12 - Common Stock for further discussion.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
The two-class method determines net income (loss) per share of common stock for each class of common stock and participating securities according to dividends declared or accumulated participation rights in undistributed earnings.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
During the periods presented, the Company s participating securities included all series of its redeemable convertible preferred stock prior to their conversion into Class B common stock immediately prior to the completion of the IPO and common stock warrants, as the holders of these securities are contractually entitled to participate in dividends and other distributions but not contractually required to participate in losses.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
The rights, including the liquidation and dividend rights, of the holders of the Company s Class A common stock, Class B common stock, and Class N common stock are identical, except with respect to voting and conversion rights.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
Strategy & priorities
Business Highlights Capacity Data Center Capacity Expansion Increased data center capacity, live and under contract for delivery by the end of 2027 to more than 600 MW.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Manufacturing Capacity Expansion New factory lines added at contract manufacturers Flex, Sanmina, and Rocket EMS.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Supply Chain Capacity Expansion Secured TSMC wafer supply needed for continued growth.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
The words may, will, shall, should, expects, plans, anticipates, could, intends, target, projects, contemplates, believes, estimates, predicts, potential, objective, or continue, or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth, and our objectives for future operations, are forward-looking statements.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
Risks & headwinds
These forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Cerebras s control.
SEC original ↗Cerebras Systems — Earnings release (8-K exhibit)EX-99Aug 12, 2026
Legal Proceedings 45 Item 1A.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled Risk Factors and elsewhere in this Quarterly Report on Form 10-Q.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q.
SEC original ↗Cerebras Systems — 10-Q Quarterly report10-QAug 12, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
5 documentsEarnings releases
2 documentsPresentations
0 documentsNo presentations for Cerebras Systems are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Cerebras Systems are held in this edition of the library.
Mentioned by
2 companiesOther tracked companies whose held documents mention Cerebras Systems by name or ticker. A mention is counted once per document, from the document text the library holds.
“ts to 34% year-over-year growth at the midpoint • Exceeds $2.29 billion in ending … …with Cerebras Systems, combining the industry’s leading AI-native security platform with breakneck AI inference for enterprises deploying AI at scale. • Expanded str”
“(450,528) $ 309,512 $ (464,534) $ 285,645 … …equity (deficit) $ 11,627,872 $ 2,326,037 CEREBRAS SYSTEMS INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (in thousands) Six Months Ended June 30, 2026 2025 Cash flows from opera”
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