GoKawiilAndrew Feldman, co-founder and CEO of Cerebras Systems, speaks after the company's initial public offering at the Nasdaq MarketSite in New York on May 14, 2026.
Cerebras Systems raised its full-year guidance in the second earnings report following the chipmaker's IPO in May. But the stock tumbled about 14% in extended trading.
Here's how it did in the second quarter versus LSEG consensus estimates:
Revenue: $180 million, versus $194 million expected
$180 million, versus $194 million expected Loss per share: 5 cents adjusted, versus 17 cents expected
Cerebras said in a statement on Wednesday that it expects core revenue of between $214 and $216 million this quarter.
The company raised its full-year outlook, and now expects core revenue of between $880 and $890 million, up from a prior range of $855 million to $865 million.
The $180 million sales figure for the second quarter represents core revenue. Cerebras also reported a total revenue figure of $210 million, which includes "pass-through revenue."
The company recorded a net loss of $450.5 million, after finishing with a profit of $309.5 million, or $1.91 per share, a year earlier. Most of the loss is tied to stock-compensation costs of $386.6 million.
Cerebras CEO Andrew Feldman said in an interview that AI demand is "through the roof," and that companies are paying up for its specialty inference chips.