Cerebras Posts $450M Q2 Loss, Lifts Full-Year Outlook on AI Demand
CBRS sits 37% above its 52-week low of $160.81.
Summary
Cerebras swung to a $450.5 million Q2 loss ($2.98/share) from a $309.5 million profit a year ago, but core revenue more than doubled to $209.9 million, beating the $190.6 million FactSet consensus. The company raised full-year core revenue guidance to $880M-$890M from $855M-$865M and core gross margin to 41%-43% from 38%-41%, while guiding Q3 core revenue to $214M-$216M. CFO Bob Komin said core gross margin is pressured by renting back systems to meet inference demand, costing roughly 500 basis points, and will trough in Q3 before improving in Q4 as data-center capacity comes online. Cerebras ended the quarter with $25.4 billion in remaining performance obligations and over 600MW of data-center capacity delivered or contracted by end-2026. Shares fell 16% after hours to $220.38, erasing the regular-session 12% gain, as the net loss and margin pressure outweighed the raised outlook.
At the time of this announcement, CBRS was trading at $219.86 on NASDAQ in the Technology sector, with a market capitalization of approximately $72.7B. The 52-week trading range was $160.81 to $386.34. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.