tech
Cerebras stock plunges 14% after second earnings report following IPO
Cerebras Systems reported better-than-expected second-quarter revenue and raised its full-year guidance.
TL;DR
- Cerebras Systems' stock dropped 14% after its second earnings report post-IPO.
- Second-quarter revenue was $180 million, with an adjusted loss per share of 5 cents (better than expected).
- Full-year revenue guidance was raised to $880-$890 million.
- CEO Andrew Feldman cited "through the roof" AI demand, particularly for "fast inference" chips.
- Core gross margin is expected to expand to 38%-40% this quarter.
- Cerebras reported $25.4 billion in remaining performance obligations, signaling strong future demand.
- The company expects revenue to triple in the next fiscal year.
- Recent developments include a partnership with AMD and OpenAI's potential use of its chips for GPT 5.6 Sol.