Cerebras Q2 Revenue Misses, Stock Tanks 18% Despite Raised Guidance
CBRS sits 38% above its 52-week low of $160.81.
Summary
Cerebras reported Q2 sales of $180.11M, missing the $194.20M consensus, and shares fell 18% premarket. Adjusted loss of 4.5 cents per share beat the 17-cent loss estimate, but the revenue miss and mixed guidance overshadowed the beat. Core revenue hit a record $209.9M, up 103% YoY, with cloud revenue surging 287% to $127.7M. Management raised full-year 2026 revenue guidance to $880M-$890M and gross margin to 41%-43%, but Q3 guidance implies a margin trough at 38%-40%. The company also disclosed $25.4B in remaining performance obligations excluding AWS and hyperscaler backlog, and plans to unveil its CS-4 system next week. The stock's sharp decline reflects disappointment over the top-line miss and near-term margin pressure despite strong long-term growth signals.
At the time of this announcement, CBRS was trading at $222.35 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 9 out of 10. Source: Benzinga.