Cerebras Stock Drops 14% After Earnings Despite Raised Guidance
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- Cerebras reported $210 million in core revenue for the second quarter and a net loss of $450.5 million, largely due to $386.6 million in stock-compensation costs.
- Cerebras raised its full-year core revenue forecast to $880–$890 million from $855–$865 million and expects revenue to triple next fiscal year.
- Cerebras said its current-quarter core gross margin will reach 38%–40%, attributing the improvement to premium pricing on 'fast inference' AI tasks.
- Cerebras CEO Andrew Feldman stated that AI demand is 'through the roof,' with companies paying up for low-latency inference performance.
- Cerebras has $25.4 billion in remaining performance obligations and offers chip access via its cloud, which generated $126 million in Q2 revenue.
Why it matters: Despite stronger-than-expected guidance and signs of robust future demand, Cerebras’ stock fell sharply, suggesting investors are prioritizing near-term profitability over growth projections amid high operating losses tied to stock compensation.
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