Filing Flows › Cerebras Systems (CBRS) › Q1 2026
Cerebras Systems (CBRS) Q1 2026 earnings results (first quarter 2026)
10-Q filed Jun 24, 2026
Cerebras Systems (CBRS) reported revenue of $193M for the first quarter 2026 (Q1 2026), +94% from a year earlier. Operating margin was -7.8%, net loss $14.0M (7.2% of revenue).
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 follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $193M | — | +94% |
| Operating profit | −$15.0M | — | — |
| Net earnings | −$14.0M | — | — |
| Operating cash flow | $12.3M | — | — |
What changed
Revenue was $193.4M in Q1 2026, up 94% year over year. Product was the largest line at 57% of revenue. Service added $53.0M year over year (up 178%), 56% of the total change.
Gross margin was 44.6%, up 2.7 points from a year earlier. Operating costs exceeded revenue by $15.0M, an operating margin of -7.8%. Operating expenses grew 44% against revenue growth of 94%. The fastest-growing cost line was General & admin (+57%). The quarter ended with a net loss of $14.0M. Non-operating items added $2.5M, -20% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $12.3M. Non-cash charges added back $18.2M of depreciation and $9.6M of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $132.0M exceeded it, leaving free cash flow of −$119.6M.
Questions
What was Cerebras Systems' revenue in the first quarter 2026?
Cerebras Systems (CBRS) reported revenue of $193M for the first quarter 2026 (Q1 2026), +94% from a year earlier.
Was Cerebras Systems profitable in the first quarter 2026?
Operating loss was $15.0M (-7.8% of revenue) and net loss $14.0M.
Source: Cerebras Systems 10-Q on SEC EDGAR.