Cerebras first public quarter: revenue up 94% to $193.4 million, 2026 core revenue guidance $855-865 million

Cerebras reported its first results as a public company for the quarter ended March 31, 2026. GAAP revenue rose 94% year over year to $193.4 million, with core revenue of $191.3 million, and cloud and other services grew 178%. The company raised its 2026 core revenue outlook to $855.0-865.0 million, but guided Q2 core gross margin to 36-38%, down from 47% in Q1, which was the main point of concern for investors.

• GAAP revenue $193.4 million (+94% YoY); core revenue $191.3 million (+92% YoY)
• Hardware revenue $110.6 million (+59% YoY); cloud and other services $82.8 million (+178% YoY)
• Net loss $14.0 million
• FY2026 core revenue guidance $855.0-865.0 million; Q2 core revenue about $194 million
• Q2 core gross margin guided to 36-38%, versus 47% in Q1