Cerebras Q2 Revenue Surges 103% to $210M, Stock Drops 17%

Cerebras posts $210M Q2 revenue with cloud services quadrupling, but net loss of $450.5M and hardware decline trigger 17% after-hours sell-off despite raised guidance.

Woofun AI reports that Cerebras generated $210 million in second-quarter revenue, representing a 103% year-on-year increase. Cloud services contributed $126 million, nearly quadrupling from the prior year, while hardware sales fell 23% to $54.1 million. The company recorded a net loss of $450.5 million, contrasting with a $309.5 million net profit in the same period last year.

Cerebras raised its full-year core revenue guidance to between $880 million and $890 million, up from the previous estimate of $855 million to $865 million. The firm stated that core gross margin is expected to expand to 38% to 40% for the quarter. Following the earnings release, shares declined more than 17% in after-hours trading.