Cerebras Systems Inc.
Financial Performance
Cerebras Revenue & Financials
Revenue
$510M (FY2025)
Market Cap
$46.3B
Net Income
$87.9M
Employees
708
What is Cerebras's revenue?
Cerebras had $510M in revenue for fiscal year 2025, up 75.7% from 2024. Net income was $87.9M.
- Latest revenue
- $510M (FY2025)
- Year-over-year
- +75.7%
- Growth rate (CAGR)
- 154.6% over 2 years
- Peak revenue
- $510M (FY2025)
- Years of data
- 3
- Employees
- 708
- How much profit does Cerebras make?
- Cerebras reported net income of $87.9M for fiscal year 2025. cnbc.com
- How many employees does Cerebras have?
- Cerebras has about 708 employees.
Financial Analysis
Cerebras reported revenue of $510 million in 2025, up about 76% from roughly $290 million in 2024, and swung to net income of $87.9 million from a $485 million loss. After its May 2026 IPO it began reporting 'core revenue', which excludes pass-through revenue and amortization of customer warrant assets. Q1 2026 core revenue was $191.3 million (up 92%), and Q2 2026 core revenue was $209.9 million (up 103%), against GAAP revenue of $180.1 million. Q2 GAAP net loss was $450.5 million, mostly from $386.6 million of stock-based compensation tied to the listing. Management raised 2026 core revenue guidance to $880-890 million and guided Q3 to $214-216 million. Remaining performance obligations stood at $25.4 billion. Cerebras Systems is a highly valued AI hardware startup, reaching a private valuation of over $4 billion as it prepares for an IPO.
Revenue Trend Analysis
YoY Change
+75.7%
2-Year CAGR
+154.6%
Peak Year
2025
Trend
Not enough comparable years
Cerebras Systems Inc. has 3 full fiscal year figures on this page, compounding at +154.6% annually over 2 years. The most recent year saw a 75.7% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $510M. Of 2 comparable year-over-year steps, 2 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | $510M | $87.9M | +75.7% | Cerebras Systems IPO registration statement (as reported by CNBC) Calendar year 2025; revenue up about 76% year over year. |
| FY2024 | $290.3M | -$485M | +268.9% | Cerebras Systems IPO registration statement (as reported by CNBC) Calendar year 2024. |
| FY2023 | $78.7M | — | — | Cerebras Systems Form S-1 (September 2024) Calendar year 2023, from the original IPO filing that was later withdrawn. |
Click any row to see year details.
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Cerebras Revenue and Financial FAQ
What was Cerebras' revenue in 2025?
Cerebras reported revenue of $510 million in 2025, up about 76% from roughly $290 million in 2024, and net income of $87.9 million compared with a $485 million loss in 2024.
What were Cerebras' Q2 2026 results?
For the quarter ended June 30, 2026, Cerebras reported core revenue of $209.9 million, up 103% year over year, and GAAP revenue of $180.1 million. Its GAAP net loss was $450.5 million, driven by $386.6 million of stock-based compensation.
What is Cerebras' 2026 revenue guidance?
In August 2026, Cerebras raised its full-year 2026 core revenue outlook to $880-890 million, from $855-865 million, and guided Q3 2026 core revenue to $214-216 million.
What is Cerebras' market cap?
Cerebras' market capitalization was about $46 billion on September 30, 2026, with shares near $179. It was valued at $56.4 billion at its $185 IPO price and closed its first trading day near $95 billion.
How much did Cerebras raise before its IPO?
Cerebras raised $1.1 billion at an $8.1 billion valuation in September 2025 and $1 billion at a $23 billion valuation in February 2026, on top of earlier rounds from Benchmark, Foundation Capital, Eclipse, and Alpha Wave.
How concentrated is Cerebras' customer base?
G42 provided 87% of revenue in the first half of 2024. In 2025, MBZUAI accounted for 62% of revenue and G42 for 24%. OpenAI is now expected to make up a substantial portion of revenue over the next several years.
What is Cerebras' gross margin outlook?
Cerebras guided Q3 2026 core gross margin to 38-40%. CEO Andrew Feldman has said margins should improve with scale because fast inference is priced at a premium.
What is Cerebras' backlog?
Cerebras reported $25.4 billion of remaining performance obligations as of mid-2026, up from $24.6 billion at the end of 2025, largely tied to its OpenAI agreement.
How much is Cerebras worth?
Backed by massive venture capital firms like Benchmark and Alpha Wave Ventures, Cerebras achieved a private market valuation of over $4 billion as investors desperately sought alternatives to Nvidia.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Cerebras Revenue & Financials." CorpDigest, https://corpdigest.com/company/cerebras/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Cerebras reported $510M in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/cerebras/financials" target="_blank" rel="noopener">CorpDigest — Cerebras financials</a></div>Related Financial Audits
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