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Cerebras Q1 EPS miss sends shares down 9% after-hours

Cerebras reported Q1 revenue of $193.4 million, exceeding analyst expectations of $180.8 million. Despite this growth, shares fell between 8% and 14% due to an earnings per share miss and margin concerns. The company also announced a $20 billion partnership with OpenAI.

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What changed

Cerebras released its first quarterly earnings report since going public.

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  1. Cerebras Shares Drop After First Post-IPO Earnings Report

    Cerebras reported Q1 revenue of $193.4 million, exceeding analyst expectations of $180.8 million. Despite this growth, shares fell between 8% and 14% due to an earnings per share miss and margin concerns. The company also announced a $20 billion partnership with OpenAI.

    What's confirmed:

    • Cerebras reported Q1 revenue of $193.4 million.
    • The Q1 revenue figure exceeded the consensus expectation of $180.8 million.
    • Cerebras shares fell at least 8% in after-hours or extended trading.
    • The company reported earnings of $0.22 per share against a consensus expectation of a $0.16 loss.

    Still unconfirmed:

    • Cerebras announced a $20 billion OpenAI partnership for 750 MW inference compute.
    • The company guided 2026 revenue to $855-865 million.
    • Q2 gross margins are forecast at 36%-38%.
    • Lock-up expiry contributed to the stock price decline.
    confidence 85%