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Cerebras stock plunges after earnings as CEO says margin outlook was misunderstood

Cerebras shares fell sharply following its first public financial report due to concerns over projected gross margins. CEO Andrew Feldman stated that investors misunderstood the margin guidance. Despite the stock drop, the company reported nearly double its quarterly revenue.

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What changed

Cerebras released its first quarterly financial report since going public.

Live updates

  1. Cerebras Stock Plummets After First Post-IPO Earnings Report

    Cerebras shares fell sharply following its first public financial report due to concerns over projected gross margins. CEO Andrew Feldman stated that investors misunderstood the margin guidance. Despite the stock drop, the company reported nearly double its quarterly revenue.

    What's confirmed:

    • Cerebras quarterly revenue nearly doubled in its first report after its IPO.
    • The company's stock price dropped following the release of its first public earnings report.
    • CEO Andrew Feldman said the margin forecast was "misunderstood".
    • Cerebras projected narrower gross margins in its core business.
    • The company's stock price fell below its IPO price.
    • Cerebras has a staggered lock-up expiration with some shares becoming available for trading this week.

    Still unconfirmed:

    • Quarterly revenue hit $193 million, up 94% YoY.
    • Net loss narrowed from $23.9 million last year to $14 million.
    • Cerebras Systems stock was down 22.3% after guiding to lower margins.
    • Cerebras stock sank 14% due to the full-year margin forecast.
    confidence 90%