CBRS - Cerebras Systems Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$300.50
DETAILS
HIGH:
$330.00
LOW:
$279.00
MEDIAN:
$300.00
CONSENSUS:
$300.50
UPSIDE:
53.21%
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||
| Revenue | 180.1 | 193.4 | 171.4 | 135.7 | 103.3 | 99.5 | 81.5 | 72.3 | 68.2 | 68.2 | 4.3 | 4.3 |
| Cost of Revenue | 154.6 | 107.2 | 101.2 | 80.6 | 71.2 | 57.9 | 46.8 | 40.3 | 40.2 | 40.2 | 2.1 | 2.1 |
| Gross Profit | 25.6 | 86.2 | 70.2 | 55.1 | 32.1 | 41.6 | 34.7 | 32.0 | 28.0 | 28.0 | 2.2 | 2.2 |
| Operating Expenses | ||||||||||||
| R&D Expenses | 320.2 | 75.5 | 0 | 0 | 0 | 0 | 0 | 0 | 38.9 | 38.9 | 38.1 | 38.1 |
| SG&A Expenses | 182.6 | 25.7 | 104.0 | 81.6 | 89.3 | 70.1 | 75.0 | 51.4 | 10.0 | 10.0 | 4.5 | 4.5 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 502.8 | 101.2 | 104.0 | 81.6 | 89.3 | 70.1 | 75.0 | 51.4 | 48.9 | 48.9 | 42.7 | 42.7 |
| Operating Income | ||||||||||||
| Operating Income | (477.2) | (15.0) | (33.7) | (26.5) | (57.2) | (28.5) | (40.2) | (19.4) | (20.9) | (20.9) | (40.5) | (40.5) |
| Interest Expense | 0 | 18.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 22.7 | 0 | 0 | 0 | 0 | 0 | 0 | 1.9 | 1.9 | 1.2 | 1.2 |
| Profitability | ||||||||||||
| EBITDA | (450.3) | 3.1 | (25.6) | (22.2) | 309.5 | (23.9) | (105.7) | (309.3) | (31.1) | (31.1) | (36.0) | (36.0) |
| EBIT | (450.3) | (15.0) | (25.6) | (22.2) | 309.5 | (23.9) | (105.7) | (309.3) | (33.1) | (33.1) | (38.9) | (38.9) |
| Income Before Tax | (450.3) | (12.5) | (25.6) | (22.2) | 309.5 | (23.9) | (105.7) | (309.3) | (33.1) | (33.1) | (38.9) | (38.9) |
| Income Tax Expense | 0.3 | 1.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0.2 | 0.2 | 0.0 | 0.0 |
| Net Income | (450.5) | (14.0) | (25.6) | (22.2) | 309.5 | (23.9) | (105.7) | (309.3) | (33.3) | (33.3) | (38.9) | (38.9) |
| Per Share Data | ||||||||||||
| EPS (Basic) | -2.98 | -0.06 | -0.12 | -0.10 | 1.44 | -0.11 | -0.49 | -1.44 | -0.15 | -0.15 | -0.18 | -0.18 |
| EPS (Diluted) | -2.98 | -0.06 | -0.12 | -0.10 | 1.44 | -0.11 | -0.49 | -1.44 | -0.15 | -0.15 | -0.18 | -0.18 |
| Shares Outstanding | 151.0 | 226.5 | 215.2 | 215.2 | 215.2 | 226.5 | 215.2 | 215.2 | 215.2 | 215.2 | 215.2 | 215.2 |
| Metric | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2024 Q4 | 2024 Q2 | 2024 Q1 |
|---|---|---|---|---|---|---|
| Current Assets | ||||||
| Cash & Cash Equivalents | 7,426.8 | 2,745.1 | 930.4 | 220.2 | 90.9 | 90.9 |
| Short-Term Investments | 1,179.4 | 515.6 | 406.5 | 116.9 | 118.6 | 118.6 |
| Net Receivables | 164.1 | 96.8 | 71.5 | 150.6 | 5.8 | 5.8 |
| Inventory | 32.7 | 89.0 | 63.6 | 174.5 | 78.0 | 78.0 |
| Other Current Assets | 318.7 | 96.9 | 63.5 | 361.8 | 267.7 | 267.7 |
| Total Current Assets | 9,121.7 | 3,581.0 | 1,543.6 | 1,030.5 | 571.8 | 571.8 |
| Non-Current Assets | ||||||
| Property, Plant & Equipment | 1,515.1 | 925.7 | 686.3 | 79.7 | 48.4 | 48.4 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 960.6 | 425.4 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 30.4 | 16.3 | 96.0 | 2.5 | 2.6 | 2.6 |
| Total Non-Current Assets | 2,506.2 | 1,367.4 | 782.4 | 82.3 | 51.0 | 51.0 |
| Total Assets | 11,627.9 | 4,948.4 | 2,326.0 | 1,112.7 | 622.9 | 622.9 |
| Current Liabilities | ||||||
| Account Payables | 88.3 | 50.3 | 48.6 | 25.6 | 13.4 | 13.4 |
| Short-Term Debt | 824.5 | 687.5 | 45.9 | 0 | 0 | 0 |
| Deferred Revenue | 173.7 | 149.9 | 131.0 | 678.9 | 0 | 0 |
| Other Current Liabilities | 479.6 | 520.4 | 477.4 | 400.0 | 378.2 | 378.2 |
| Total Current Liabilities | 1,566.1 | 1,427.2 | 719.5 | 1,178.1 | 442.7 | 442.7 |
| Non-Current Liabilities | ||||||
| Long-Term Debt | 182.2 | 361.6 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 855.1 | 16.6 | 16.6 |
| Total Non-Current Liabilities | 907.1 | 768.4 | 251.8 | 901.4 | 36.7 | 36.7 |
| Total Liabilities | 2,473.2 | 2,195.7 | 971.3 | 2,079.5 | 479.4 | 479.4 |
| Stockholders' Equity | ||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0 | 0 |
| Retained Earnings | (1,369.9) | (919.3) | (905.3) | (1,143.2) | (728.2) | (728.2) |
| Accumulated Other Comprehensive Income | 5.8 | 3.4 | 1.3 | 0.2 | 0.5 | 0.5 |
| Total Stockholders' Equity | 9,154.6 | 2,752.7 | 1,354.7 | (966.8) | 143.5 | 143.5 |
| Total Liabilities & Equity | 11,627.9 | 4,948.4 | 2,326.0 | 1,112.7 | 622.9 | 622.9 |
| Debt Metrics | ||||||
| Total Debt | 1,487.1 | 1,361.6 | 261.8 | 40.7 | 28.0 | 28.0 |
| Net Debt | (5,939.8) | (1,383.5) | (668.6) | (179.5) | (63.0) | (63.0) |
| Metric | 2026 Q2 | 2026 Q1 | 2024 Q2 | 2024 Q1 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|
| Operating Activities | ||||||
| Net Income | (450.5) | (14.0) | (33.3) | (33.3) | (38.9) | (38.9) |
| Depreciation & Amortization | 24.4 | 18.2 | 2.1 | 2.1 | 2.8 | 2.8 |
| Stock-Based Compensation | 377.0 | 9.6 | 16.2 | 16.2 | 4.6 | 4.6 |
| Change in Working Capital | (100.6) | (41.8) | (12.1) | (12.1) | (3.9) | (3.9) |
| Other Non-Cash Items | 89.9 | 40.4 | 183.1 | 183.1 | 0.3 | 0.3 |
| Operating Cash Flow | (59.8) | 12.3 | 155.9 | 155.9 | (35.1) | (35.1) |
| Investing Activities | ||||||
| Capital Expenditure | (416.9) | (132.0) | (5.9) | (5.9) | (0.2) | (0.2) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (966.7) | (308.8) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 310.3 | 204.2 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 1.0 | 1.0 | 28.0 | 28.0 |
| Investing Cash Flow | (1,073.3) | (236.6) | (4.9) | (4.9) | 27.7 | 27.7 |
| Financing Activities | ||||||
| Net Debt Issuance | 0 | 1,004.6 | 0 | 0 | 0 | 0 |
| Stock Repurchased | (416.7) | (0.2) | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (15.6) | (0.6) | 8.6 | 8.6 | 1.2 | 1.2 |
| Financing Cash Flow | 5,815.1 | 2,038.1 | 8.6 | 8.6 | 1.2 | 1.2 |
| Cash Position | ||||||
| Net Change in Cash | 4,681.7 | 1,814.7 | 0 | 0 | 13.9 | 0 |
| Cash at Beginning | 2,745.1 | 930.4 | 0 | 0 | 0 | 0 |
| Cash at End | 7,426.8 | 2,745.1 | 0 | 0 | 13.9 | 0 |
| Free Cash Flow | (476.7) | (119.6) | 150.0 | 150.0 | (35.3) | (35.3) |
| Key Metrics | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 | 2025 Q2 | 2025 Q1 | 2024 Q4 | 2024 Q3 | 2024 Q2 | 2024 Q1 | 2023 Q2 | 2023 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 180.1 | 193.4 | 171.4 | 135.7 | 103.3 | 99.5 | 81.5 | 72.3 | 68.2 | 68.2 | 4.3 | 4.3 |
| Gross Profit | 25.6 | 86.2 | 70.2 | 55.1 | 32.1 | 41.6 | 34.7 | 32.0 | 28.0 | 28.0 | 2.2 | 2.2 |
| Operating Income | (477.2) | (15.0) | (33.7) | (26.5) | (57.2) | (28.5) | (40.2) | (19.4) | (20.9) | (20.9) | (40.5) | (40.5) |
| Net Income | (450.5) | (14.0) | (25.6) | (22.2) | 309.5 | (23.9) | (105.7) | (309.3) | (33.3) | (33.3) | (38.9) | (38.9) |
| EPS (Diluted) | -2.98 | -0.06 | -0.12 | -0.10 | 1.44 | -0.11 | -0.49 | -1.44 | -0.15 | -0.15 | -0.18 | -0.18 |
| Balance Sheet | ||||||||||||
| Cash & Equivalents | 7,426.8 | 2,745.1 | 930.4 | 220.2 | 90.9 | 90.9 | ||||||
| Total Assets | 11,627.9 | 4,948.4 | 2,326.0 | 1,112.7 | 622.9 | 622.9 | ||||||
| Total Debt | 1,487.1 | 1,361.6 | 261.8 | 40.7 | 28.0 | 28.0 | ||||||
| Stockholders' Equity | 9,154.6 | 2,752.7 | 1,354.7 | (966.8) | 143.5 | 143.5 | ||||||
| Cash Flow | ||||||||||||
| Operating Cash Flow | (59.8) | 12.3 | 155.9 | 155.9 | (35.1) | (35.1) | ||||||
| Capital Expenditure | (416.9) | (132.0) | (5.9) | (5.9) | (0.2) | (0.2) | ||||||
| Free Cash Flow | (476.7) | (119.6) | 150.0 | 150.0 | (35.3) | (35.3) | ||||||