Cerebras' first earnings test: Revenue soars, profitability remains the challenge

Cerebras reported its first quarterly earnings as a public company, with revenue nearly doubling to $193.4 million from $99.5 million a year earlier, beating analyst estimates. Q2 revenue guidance of $194 million also exceeded expectations, and adjusted losses narrowed significantly. However, the stock fell around 10–11% as investors focused on the weaker 2026 gross margin guidance of 38–41%, down from 47% in Q1, amid heavy expansion spending.