Filing Flows › Cerebras Systems (CBRS) › Q1 2026 › vs Q1 2025
Cerebras Systems (CBRS) Q1 2026 vs Q1 2025 (year over year)
Cerebras Systems's revenue rose $93.9M (+94%) from $99.5M in Q1 2025 to $193M in Q1 2026. The biggest changes: Service +$53.0M (+178%); Product +$40.9M (+59%).
Cerebras Systems, Q1 2026: revenue $193M (+94% year over year), operating margin -7.8%, net loss $14.0M, operating cash flow $12.3M. The chart draws each line against Q1 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Product | $111M | $69.7M | $40.9M | +59% |
| Service | $82.8M | $29.8M | $53.0M | +178% |
| Revenue | $193M | $99.5M | $93.9M | +94% |
| Other income, net | $2.5M | $6.3M | −$3.8M | -60% |
| Net loss | $14.0M | $23.9M | −$9.9M | -41% |
| Costs & expenses | $210M | $130M | $80.3M | +62% |
| Operating costs | $208M | $128M | $80.5M | +63% |
| Income tax | $1.5M | $1.7M | −$186K | -11% |
| Cost of revenue | $107M | $57.9M | $49.3M | +85% |
| Research & development | $75.5M | $52.8M | $22.7M | +43% |
| Sales & marketing | $14.7M | $10.3M | $4.4M | +42% |
| General & admin | $11.0M | $7.0M | $4.0M | +57% |
| Operating cash sources | $27.8M | $13.1M | $14.7M | +113% |
| Depreciation | $18.2M | $3.9M | $14.3M | +365% |
| Share-based compensation | $9.6M | $9.2M | $439K | +5% |
| Net loss absorbed | $14.0M | $23.9M | −$9.9M | -41% |
| Working capital & other | $1.4M | $44.1M | −$42.7M | -97% |
| Operating cash flow | $12.3M | −$54.9M | $67.3M | — |
| Capital expenditures | $132M | $98.2M | $33.7M | +34% |
| Negative free cash flow (OCF − capex) | $120M | $153M | −$33.5M | -22% |
Questions
How much did Cerebras Systems's revenue grow year over year in Q1 2026?
Cerebras Systems's revenue rose $93.9M (+94%) from $99.5M in Q1 2025 to $193M in Q1 2026.
What drove Cerebras Systems's revenue change in Q1 2026?
Service +$53.0M (+178%); Product +$40.9M (+59%).