Cerebras Q2 Core Revenue Doubles to $210M, Cloud Nearly Quadruples; FY26 Guidance Raised

summarizeSummary

Cerebras reported Q2 core revenue of $209.9 million, up 103% year-over-year, with cloud revenue up 287%. Full-year 2026 core revenue guidance was raised to $880-$890 million, and the company disclosed $25.4 billion in remaining performance obligations.

check_boxKey Events · Earnings and Guidance · CBRS

• Q2 Core Revenue Doubles

  Core total revenue reached $209.9 million, up 103% year-over-year, with core cloud and other services revenue of $127.7 million, up 287%.

• FY26 Guidance Raised

  Full-year 2026 core revenue guidance was raised to $880-$890 million from $855-$865 million, and core gross margin to 41%-43% from 38%-40%.

• Remaining Performance Obligations

  Remaining performance obligations stood at $25.4 billion as of June 30, 2026, providing multi-year revenue visibility.

• Capacity Expansion

  Data center capacity under contract increased to more than 600 MW, and manufacturing capacity is expected to scale more than 10x in 2026.

auto_awesomeAnalysis · CBRS · Manufacturing

A blowout quarter for Cerebras: core revenue more than doubled year-over-year to $209.9 million, driven by cloud revenue that nearly quadrupled. Full-year 2026 core revenue guidance was raised to $880-$890 million and gross margin to 41%-43%, while the company also disclosed $25.4 billion in remaining performance obligations and 600 MW of data center capacity under contract. Despite a GAAP net loss of $450.5 million, the core operating loss narrowed dramatically to $33.6 million, and the company holds $8.6 billion in cash and investments. These results validate the OpenAI and AWS partnerships and position Cerebras for aggressive scaling in 2027.