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Cerebras Systems Inc. reported strong top-line growth for the quarter ended June 30, 2026, driven by its fast inference cloud business. GAAP cloud and other services revenue was $126.0 million, up 281% year-over-year, while core cloud and other services revenue reached $127.7 million, up 287%. GAAP total revenue was $180.1 million, up 74%, and core total revenue was $209.9 million, up 103%.
Profitability remains pressured. GAAP gross margin was 14%, while core gross margin improved to 41%, approximately 940 basis points higher than a year ago. GAAP operating margin was (265%), and core operating margin was (16%). GAAP net loss for the quarter was $450.5 million, but core net loss narrowed to $6.9 million. Adjusted EBITDA was a loss of $53.1 million.
Liquidity is significant, with $8.6 billion in cash, cash equivalents, restricted cash, and short-term investments and $850 million of debt capacity, supported by $6.4 billion of gross IPO proceeds and a new revolving credit facility. Remaining performance obligations totaled $25.4 billion as of June 30, 2026. Cerebras increased data center capacity under contract to more than 600 MW and plans to scale manufacturing capacity more than 10x in 2026. Core revenue guidance is $214–$216 million for Q3 2026 and $880–$890 million for full-year 2026, with improving but still negative core operating margins.
JPMorgan Chase & Co. reports beneficial ownership of 3,100,807 shares of Cerebras Systems Inc. Class A common stock, representing 3.3% of the class. Of these, it has sole voting power over 3,005,643 shares and shared voting power over 6,214 shares.
JPMorgan Chase & Co. also has sole dispositive power over 3,094,295 shares and shared dispositive power over 6,512 shares. The filing characterizes this as ownership of 5 percent or less of Cerebras Systems’ Class A common stock and identifies multiple affiliated subsidiaries, including J.P. Morgan Securities LLC and JPMorgan Chase Bank, National Association, as entities through which the holdings are maintained.
Cerebras Systems Inc. disclosure shows FMR LLC (and Abigail P. Johnson as reported) beneficially owned 28,878,217 shares of Class A Common Stock as of 06/30/2026, representing 25.7% of the class. The filing notes 20,443,122 shares of Class B Common Stock held by Fidelity-advised investment companies are treated as convertible 1:1 into Class A shares for ownership calculation.
Cerebras Systems Inc. director Eric Vishria reported an internal restructuring involving 99,651 shares of Class A Common Stock. The shares were received indirectly by entities he controls through a pro-rata, in-kind distribution from Benchmark Capital Partners VIII, L.P. and affiliated funds, with no cash consideration. The filing reflects a change in how the shares are held rather than an open-market trade.
Cerebras Systems Inc. insider filing shows a structural change in Benchmark-affiliated funds’ holdings, not an open-market trade. Benchmark Capital Partners VIII and related funds converted 2,157,802 shares of Class B Common Stock into the same number of Class A Common Stock in accordance with the securities’ terms.
The filing also records a pro-rata, in-kind distribution of these Class A shares by the funds to their partners, including Benchmark Capital Management Co. VIII, for no additional consideration. After these transactions, the reporting entities hold 2,157,802 shares of Class A Common Stock and 12,227,545 shares of Class B Common Stock indirectly, reflecting a reallocation of ownership among affiliated investors rather than a change in the overall economic stake.
Cerebras Systems Inc. director and CEO Andrew D. Feldman reported an entity restructuring involving 268 shares of Class A Common Stock held indirectly through the Feldman Bravo Family Trust. The transaction is described as a pro-rata, in-kind distribution not for additional consideration, rather than a market buy or sell. Following this event, the trust is shown as holding 268 shares.
Cerebras Systems Inc. Chief Operating Officer Dhiraj Mallick reported a combination of stock conversion and sale. On June 30, 2026, he converted 10,000 shares of Class B Common Stock into 10,000 shares of Class A Common Stock and sold 10,000 Class A shares in open-market transactions at a weighted average price of $206.51 per share, within a price range of $206.08 to $206.91. Following these transactions, he directly holds 10,000 shares of Class A Common Stock and 679,696 shares of Class B Common Stock, which is convertible into an equal number of Class A shares at his election with no expiration date.
Cerebras Systems Inc. Chief Operating Officer Dhiraj Mallick reported open-market sales of Class A Common Stock. On June 25–26, 2026, he sold a total of 33,314 shares across 28 separate transactions. Reported sale prices ranged from about $161.30 to $186.94 per share, with several trades reported at weighted average prices within narrower bands. The filing does not report any option exercises, and there are no remaining derivative positions shown.
Cerebras Systems Inc. Chief Operating Officer Dhiraj Mallick reported a combination of share sales and conversions. On June 25, 2026, he sold 36,131 shares of Class A Common Stock in multiple open-market transactions, mainly to cover tax withholding obligations tied to restricted stock unit settlements under a “sell to cover” arrangement that the filing describes as not a discretionary transaction. The RSU settlement triggered an automatic conversion of shares into Class A immediately before the sales, and he also converted 69,445 shares of Class B Common Stock into the same number of Class A shares. Following these moves, he held 69,445 Class A shares and 689,696 Class B shares directly, while remaining subject to an IPO lock-up agreement that runs until the earlier of the second trading day after earnings for the quarter ending September 30, 2026 or November 9, 2026, with the tax-related sales specifically permitted as an exemption.
Cerebras Systems Inc. Chief Accounting Officer Yagnesh Patel reported both an equity grant and share sales in Class A common stock. On June 26, 2026, he received 15,000 shares at a price of $0.00, described as restricted stock units that each convert into one share upon vesting. Over June 25–26, he also executed 15 open-market sales totaling 4,000 shares, at individual transaction prices between about $161.61 and $189.36, using weighted-average prices within narrower ranges as noted in the footnotes.