CBRS - Cerebras Systems Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$300.50
DETAILS
HIGH:
$330.00
LOW:
$279.00
MEDIAN:
$300.00
CONSENSUS:
$300.50
UPSIDE:
53.21%
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | ||||
| Revenue | 510.0 | 290.3 | 78.7 | 24.6 |
| Cost of Revenue | 310.9 | 167.5 | 52.4 | 21.7 |
| Gross Profit | 199.1 | 122.7 | 26.4 | 2.9 |
| Operating Expenses | ||||
| R&D Expenses | 243.3 | 158.2 | 140.1 | 155.4 |
| SG&A Expenses | 101.6 | 65.9 | 20.2 | 26.3 |
| Other Expenses | (0.6) | 0.2 | 0 | 0 |
| Operating Expenses | 344.3 | 224.4 | 160.3 | 181.7 |
| Operating Income | ||||
| Operating Income | (145.3) | (101.6) | (133.9) | (178.8) |
| Interest Expense | 0 | 0 | 0 | 0 |
| Interest Income | 26.8 | 23.2 | 5.7 | 1.1 |
| Profitability | ||||
| EBITDA | 279.3 | (468.1) | (116.4) | (165.6) |
| EBIT | 244.9 | (479.7) | (127.0) | (177.5) |
| Income Before Tax | 244.9 | (479.7) | (127.0) | (177.5) |
| Income Tax Expense | 7.1 | 1.9 | 0.1 | 0.2 |
| Net Income | 237.8 | (481.6) | (127.2) | (177.7) |
| Per Share Data | ||||
| EPS (Basic) | 0.41 | -2.25 | -0.59 | -0.83 |
| EPS (Diluted) | 0.41 | -2.25 | -0.59 | -0.83 |
| Shares Outstanding | 215.2 | 215.2 | 215.2 | 215.2 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Current Assets | ||||
| Cash & Cash Equivalents | 701.7 | 220.2 | 34.8 | 26.1 |
| Short-Term Investments | 406.5 | 116.9 | 117.6 | 199.3 |
| Net Receivables | 74.0 | 150.6 | 6.8 | 5.1 |
| Inventory | 63.6 | 174.5 | 49.1 | 19.5 |
| Other Current Assets | 289.6 | 361.8 | 0.4 | 1.0 |
| Total Current Assets | 1,543.6 | 1,030.5 | 212.3 | 253.2 |
| Non-Current Assets | ||||
| Property, Plant & Equipment | 686.3 | 79.7 | 13.0 | 28.1 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 96.0 | 2.5 | 0.2 | 0.2 |
| Total Non-Current Assets | 782.4 | 82.3 | 13.2 | 28.3 |
| Total Assets | 2,326.0 | 1,112.7 | 225.5 | 281.5 |
| Current Liabilities | ||||
| Account Payables | 48.6 | 25.6 | 14.7 | 5.0 |
| Short-Term Debt | 0 | 0 | 0 | 0 |
| Deferred Revenue | 485.5 | 678.9 | 13.7 | 2.6 |
| Other Current Liabilities | 44.5 | 400.0 | 11.6 | 10.5 |
| Total Current Liabilities | 719.5 | 1,178.1 | 54.6 | 21.8 |
| Non-Current Liabilities | ||||
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0.1 | 0.1 |
| Other Non-Current Liabilities | 1,933.3 | 855.1 | 723.9 | 723.9 |
| Total Non-Current Liabilities | 2,185.2 | 901.4 | 729.8 | 726.0 |
| Total Liabilities | 2,904.7 | 2,079.5 | 784.5 | 747.8 |
| Stockholders' Equity | ||||
| Common Stock | 0.0 | 0.0 | 0 | 0 |
| Retained Earnings | (905.3) | (1,143.2) | (661.6) | (534.4) |
| Accumulated Other Comprehensive Income | 1.3 | 0.2 | 1.1 | (0.3) |
| Total Stockholders' Equity | (578.7) | (966.8) | (559.0) | (466.3) |
| Total Liabilities & Equity | 2,326.0 | 1,112.7 | 225.5 | 281.5 |
| Debt Metrics | ||||
| Total Debt | 261.8 | 40.7 | 0.6 | 1.3 |
| Net Debt | (439.9) | (179.5) | (34.2) | (24.8) |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | 237.8 | (481.6) | (127.2) | (177.7) |
| Depreciation & Amortization | 34.5 | 11.5 | 10.6 | 11.9 |
| Stock-Based Compensation | 49.8 | 58.6 | 26.6 | 16.9 |
| Change in Working Capital | (15.6) | 443.5 | 6.7 | (36.6) |
| Other Non-Cash Items | (316.5) | 420.0 | 4.2 | 21.0 |
| Operating Cash Flow | (10.1) | 452.0 | (79.0) | (164.4) |
| Investing Activities | ||||
| Capital Expenditure | (382.7) | (23.4) | (6.6) | (10.5) |
| Acquisitions | 0 | 0 | 0 | 0.0 |
| Purchases of Investments | (525.4) | (302.9) | (265.6) | (207.2) |
| Sales/Maturities of Investments | 240.6 | 309.5 | 353.9 | 355.1 |
| Other Investing Activities | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (667.6) | (16.8) | 81.7 | 137.4 |
| Financing Activities | ||||
| Net Debt Issuance | 0 | 0 | 0 | 0 |
| Stock Repurchased | (38.1) | (0.1) | (0.1) | (3.9) |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | 13.4 | (0.2) | 0 | 0 |
| Financing Cash Flow | 1,026.6 | 112.3 | 5.9 | 9.1 |
| Cash Position | ||||
| Net Change in Cash | 348.4 | 547.2 | 8.6 | (18.2) |
| Cash at Beginning | 582.0 | 34.8 | 26.2 | 44.4 |
| Cash at End | 930.4 | 582.0 | 34.8 | 26.2 |
| Free Cash Flow | (392.8) | 428.5 | (85.6) | (174.9) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 510.0 | 290.3 | 78.7 | 24.6 |
| Gross Profit | 199.1 | 122.7 | 26.4 | 2.9 |
| Operating Income | (145.3) | (101.6) | (133.9) | (178.8) |
| Net Income | 237.8 | (481.6) | (127.2) | (177.7) |
| EPS (Diluted) | 0.41 | -2.25 | -0.59 | -0.83 |
| Balance Sheet | ||||
| Cash & Equivalents | 701.7 | 220.2 | 34.8 | 26.1 |
| Total Assets | 2,326.0 | 1,112.7 | 225.5 | 281.5 |
| Total Debt | 261.8 | 40.7 | 0.6 | 1.3 |
| Stockholders' Equity | (578.7) | (966.8) | (559.0) | (466.3) |
| Cash Flow | ||||
| Operating Cash Flow | (10.1) | 452.0 | (79.0) | (164.4) |
| Capital Expenditure | (382.7) | (23.4) | (6.6) | (10.5) |
| Free Cash Flow | (392.8) | 428.5 | (85.6) | (174.9) |