Cerebras Systems Inc.: Miss — EPS -$0.67, Revenue $210.81M
Earnings MissQ3 2026 · After-market
Did Cerebras Systems Inc. (CBRS) beat earnings today?
No, Cerebras Systems Inc. (CBRS) missed Wall Street analyst expectations for Q3 2026, reporting lower-than-expected EPS and lower-than-expected revenue.
Earnings Per Share-1.52% surprise
-$0.67Actual
Expected: -$0.66
vs. year ago -63.4%
Total Revenue-1.81% surprise
$210.81MActual
Expected: $214.7M
vs. year ago +55.0%
Released Nov 12 · 4:05 PM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $210.81M | $135.71M | +55.0% |
| Revenue detail — reported lines | |||
| └─Hardware | $68.88M | $96.79M | -28.8% |
| └─Cloud and other services | $141.93M | $38.92M | +265.0% |
| Net loss | ($161.22M) | ($22.20M) | - |
| GAAP Basic EPS | -$0.67 | -$0.41 | - |
| GAAP Diluted EPS | -$0.67 | -$0.41 | - |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | FY2026 Outlook | ||
|---|---|---|---|---|
| Guidance | Expected | Guidance | Expected | |
| Core revenue | ~$310M-$330M | $274.86MBeat +16.42% | $940M-$960M | $887.46MBeat +7.05% |
| Core gross margin | 47%-49% | — | 42%-44% | — |
| Core operating margins | (1%)-1% | — | (10%)-(8%) | — |
Q4 2026 Outlook
- Core revenue
- Guidance~$310M-$330MExpected$274.86MBeat +16.42%
- Core gross margin
- Guidance47%-49%Expected—
- Core operating margins
- Guidance(1%)-1%Expected—
FY2026 Outlook
- Core revenue
- Guidance$940M-$960MExpected$887.46MBeat +7.05%
- Core gross margin
- Guidance42%-44%Expected—
- Core operating margins
- Guidance(10%)-(8%)Expected—
Business Highlights
- ➤Signed two new hyperscaler commercial wins.
- ➤Oracle is integrating Cerebras fast inference into Oracle Cloud Infrastructure for 2027.
- ➤Announced a cloud deal with a top-three hyperscaler.
- ➤Expanded routes to market through multiple neoclouds.
- ➤Cerebras inference will power Bilt Neighborhood OS and Bilt Concierge AI.
- ➤Secured 700 gross megawatts of data-center capacity for delivery by end-2027.
- ➤Signed additional capacity contracts in Norway and Finland.
- ➤Scaling manufacturing with Flex and Sanmina.
- ➤Delivered production-scale heterogeneous disaggregated inference.
- ➤Introduced CS-4 at Supernova 2026; full production is forthcoming.
- ➤Previewed CS-5, targeted for early Summer 2027.
- ➤Was a day-zero launch partner for Kimi K3.1.
Management Commentary
Andrew Feldman, co-founder and CEO of Cerebras
“Cerebras’ technology remains the undisputed champion of speed. We’re giving customers more ways to access our technology and scale with us be it through direct system sales, Cerebras Cloud or third-party cloud providers. I’m proud of our team for delivering the performance and speed customers need to build entirely new applications and expand what AI can do. That progress energizes us to do even more as we push the limits of innovation and expect to triple revenue in 2027.”
Bob Komin, CFO of Cerebras
“We exceeded our guidance across the board for the third quarter in a row and delivered sequential improvements on all core financial metrics. We won new marquee customers, including hyperscalers, neoclouds and large enterprises. And we saw our pipeline for high-speed AI inference increase by more than 10x in the quarter.”