Quarterly ResultJun 24, 2026, 06:07 AM
Cerebras Q1 Revenue +94% to $193.4M; OpenAI Deal
AI Summary
Cerebras Systems Inc. reported strong financial results for the first quarter ended March 31, 2026, with total revenue increasing 94% year-over-year to $193.4 million. The company significantly reduced its net loss to $14.0 million and achieved positive cash flow from operations. This growth was substantially driven by a major collaboration with OpenAI, which also contributed to a $25.0 billion remaining performance obligation. Additionally, Cerebras completed its initial public offering in May 2026, raising approximately $6.2 billion in net proceeds.
Key Highlights
- OpenAI collaboration contributed $16.9 million in revenue for Q1 2026.
- Secured a $1.0 billion Working Capital Loan from OpenAI in January 2026.
- Remaining performance obligations reached $25.0 billion as of March 31, 2026.
- Total revenue increased 94% to $193.4 million in Q1 2026 from $99.5 million in Q1 2025.
- Net loss significantly reduced to $14.0 million in Q1 2026 from $23.9 million in Q1 2025.
- Positive cash flow from operations of $12.3 million in Q1 2026.
- Completed IPO on May 15, 2026, raising $6.2 billion in net proceeds.
- Cash and cash equivalents increased to $1.72 billion as of March 31, 2026.
Price Impact
More from CBRS