Cerebras Posts $450M Q2 Loss, Misses Revenue, Stock Drops 17%
CBRS sits 40% above its 52-week low of $160.81.
Summary
Cerebras swung to a $450.5 million Q2 loss ($2.98/share) from a year-ago profit, while revenue of $180.1 million missed the $190.6 million FactSet consensus. Core revenue more than doubled to $209.9 million, and the company lifted full-year core revenue guidance to $880M-$890M and gross margin to 41%-43%. Shares fell 17% in after-hours trading to $218.63. The company also issued Q3 core revenue guidance of $214M-$216M with core gross margin of 38%-40%. On the earnings call, CEO said the company expects to more than triple core revenues in 2027 and continue to grow at multiples in the years following.
At the time of this announcement, CBRS was trading at $224.60 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.