Andrew Feldman, co-founder and CEO of Cerebra Systems, speaks after the company’s initial public offering on May 14, 2026, on the Nasdaq Marketsite in New York.
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cerebral system raised its full-year outlook in its second earnings report after the chipmaker’s IPO in May. However, the stock price fell about 14% in extended trading.
Here’s how things looked in the second quarter. Results cannot be compared to analyst expectations.
Revenue: $210 million Loss per share: $2.89
Cerebras said in a statement Wednesday that it expects core revenue for the quarter to be between $214 million and $216 million. Analysts had expected sales of $212.6 million, LSEG said, but declined to say whether this represented core sales.
Sales of $210 million in the second quarter represent core earnings. Cerebras also reported GAAP revenue of $180.1 million. The company posted a net loss of $450.5 million, after posting a profit of $309.5 million, or $1.91 per share, in the same period last year. The majority of the loss was related to stock compensation expense of $386.6 million.
The company has raised its full-year outlook, now expecting core revenue to be between $880 million and $890 million, up from the previous range of $855 million to $865 million.
Cerebras CEO Andrew Feldman said in an interview that demand for AI is “through the roof” and that companies are paying for the company’s specialized inference chips.
Cerebras is challenging the AI chip leadership Nvidia Suitable for some AI tasks, especially those that require “low latency” or quick responses for interactivity. The company calls this “fast inference.” The company addressed investors’ concerns by saying core gross margin expanded from 38% to 40% this quarter.
“Gross margins are good and growing because there is a premium price for high-speed inference,” Feldman said in an interview, adding that Cerebras has been able to increase the AI output of its systems.
Cerebras went public on the Nasdaq in May, capitalizing on investor interest in semiconductors that can run AI models. The public offering price was $185, and the company raised $6.4 billion through the public offering. The stock hit an all-time high in May and has since fallen, but closed Wednesday at $262.06, up 42% from its IPO.
The company has $25.4 billion in performance obligations remaining, which the company said is a sign of “extraordinary demand in the future.” Mr. Feldman said that as Cerebras grows, it will benefit from greater scale. The company also predicted that next year’s sales will triple.
“We manufacture more efficiently. Parts cost less. We amortize the manufacturing organization over more units,” Feldman said. “They’re all facing up and to the right.”
In recent weeks, Cerebras partnered with Nvidia rival Advanced Micro Devices to say that OpenAI could use its chips to deliver its latest model, GPT 5.6-Sol, with production expected to begin later this year. Cerebras also provides access to chips via the cloud and reported $126 million in revenue in the June quarter.
WATCH: Cerebras sees OpenAI’s chips competing with other GPUs
