Cerebras Systems Inc.
CBRS · Price history
Price at last available close
$112.56
−$82.39 (-42.26%) 1M
2026-10-28
Tap or drag sideways to inspect a price. Use two fingers to compare automatically. Release to scroll. Use Shift + arrow keys to compare with a keyboard.
Company & revenue
About Cerebras Systems Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Cerebras Systems Inc. is a leading innovator in artificial intelligence infrastructure. The company develops and manufactures an advanced AI compute platform, integrating proprietary hardware systems and software. This platform is delivered in rack-mountable units, suitable for deployment in data centers, scaling all the way up to supercomputer-level capabilities.
How they make money
Cerebras generates revenue by selling AI supercomputers for on-premises deployments and providing cloud-based AI compute services through consumption-based models. The company enables customers to perform AI training, fine-tuning, and inference on a unified platform, charging for hardware sales and cloud access to its high-speed infrastructure.
Products & services
Cerebras provides AI infrastructure including Wafer-Scale Engines, AI supercomputers for on-premises use, and a fast inference cloud service.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Semiconductor manufacturing and component suppliers — The company relies on third-party manufacturers and suppliers for the production of its wafer-scale chips and hardware components; specific supplier names are not disclosed.Source
Business relationships & partnerships
- Amazon Web Services (AWS) — A multi-year partnership to provide Cerebras’ fast inference services through the AWS platform.Source
- CrowdStrike — A strategic collaboration allowing CrowdStrike to run AI models on Cerebras infrastructure.Source
- AMD — A partnership focused on disaggregated inference.Source
Strengths
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS turned negative at -2.98 versus 1.44 a year earlier.
Separate recurring operating losses from noncash or one-time charges, and check cash flow rather than interpreting negative EPS as a cash-outflow amount.
Quarterly net income turned from a profit to a loss versus the same quarter last year.
Identify the causes in the interim report and distinguish operating cash use from accounting charges. Prior profitability is not a guarantee of recovery.
Total debt increased 5216.1% versus the same quarter last year.
Compare the added borrowing with available cash, cash generation and maturities. A percentage increase from a small starting balance can look large without measuring the full debt burden.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
34
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
49
Weak
Financial Strength
8
Business Quality / Moat
100
Management
40
Growth Quality
82
Risk / Durability
15
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
38
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
54/100
Building Historical Record
Model Score 54/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
- •Recent buyback activity is present
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
- •Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for CBRS
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can CBRS maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •How long can CBRS fund negative free cash flow using its current cash position before it may need more debt or new shares?
- •How is CBRS likely to use its cash advantage: reinvestment, acquisitions, debt reduction, dividends or buybacks?
- •What specifically needs to improve for CBRS to reach sustainable profitability?
- •What future growth or profitability would be needed to justify CBRS's current valuation?
Essential Investment Snapshot
Wall Street Score
34
Opportunity Score
38
Market Cap
$25.50B
P/E Ratio
-54.5
EPS
$-3.26
52-Week High
$386.34
52-Week Low
$160.81
Beta
1.85
Analyst Target
$300.00
Shares Outstanding
215.2M
Total Revenue
$680.7M
Total Debt
$1.49B
Dividend
No current dividend
Liquidation Value / Share
$42.53
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong downward momentum
High movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for CBRS
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Community Sentiment
0 active · 0 total callsNo personal call yet on CBRS.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Proprietary wafer-scale engine technology.
- +Unified platform for training, fine-tuning, and inference.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Semiconductors industry.
- −Dependence on third-party manufacturing and supply chain.
- −History of operating losses.
- −Negative free cash flow may increase the need for outside financing and dilution.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
5 historical score records availablePrevious Score
34
Sep 14, 2026
Change
-0.1
points
Current Score
34
Oct 1, 2026
Category Changes
CBRS decreased 0.1 points because some fundamentals weakened.
Projected Score
Projected Score
32
Projected Change
-2.4 points
Preliminary comparable-period financial changes suggest decline of approximately 2.4 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailableCurrent Price
$112.56
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Large reported revenue change: +75.7%
Revenue changed sharply from 2024 to 2025. This can reflect a real business change, acquisition, divestiture, discontinued operations, restatement, or reporting-basis change. Compare the underlying filing before treating it as normal growth or decline.
TTM may combine quarters from before and after the event, so its trend can also be distorted.
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $680.7M | $510.0M | $290.3M | $78.7M | ···· |
| Cost of Revenue | $443.6M | $310.9M | $167.5M | $52.4M | ···· |
| Gross Profit | $237.1M | $199.1M | $122.7M | $26.4M | ···· |
| Research & Development | $639.0M | $243.3M | $158.2M | $140.1M | ···· |
| SG&A Expenses | $150.6M | $101.6M | $65.9M | $20.2M | ···· |
| Operating Expenses | $789.0M | $344.3M | $224.4M | $160.3M | ···· |
| EBITDA | -$453.4M | $279.3M | -$468.1M | -$116.4M | ···· |
| Operating Income | -$551.9M | -$145.3M | -$101.6M | -$133.9M | ···· |
| Interest Expense | $18.9M | $0.00 | $0.00 | $0.00 | ···· |
| Income Before Tax | -$503.5M | $244.9M | -$479.7M | -$127.0M | ···· |
| Income Tax Expense | $8.8M | $7.1M | $1.9M | $132K | ···· |
| Net Income | -$512.4M | $237.8M | -$481.6M | -$127.2M | ···· |
| Basic EPS | $-3.96 | $0.41 | $-2.25 | $-0.59 | ···· |
| Basic Shares | 151M | 215M | 215M | 215M | ···· |
| Diluted Shares | 151M | 215M | 215M | 215M | ···· |
Earnings Summary
Revenue
$180.1M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
-$2.98
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
No material change
Cash Change
No material change
Margin Change
-549.7 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Weakened
- Margins contracted
Potential Score Impact
Positive indicators included revenue growth. Pressure indicators included EPS growth, cash levels, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 74.3%. EPS declined 306.9%. Cash was essentially unchanged. Total debt was essentially unchanged. Net income margin declined by 549.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
66
Smart Money
66
Number of Gurus
4
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
5 historical recordsHistorical Score Chart
3 of 5 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
SemiconductorsNews
Cerebras: I Waited For This Entry Point
It's Been All Downhill Since Cerebras Systems May IPO: 180% Gains Await According to This Wall Street Analyst
This Hot Artificial Intelligence IPO Stock Is Down 52%, but It Could Double From Here, According to Wall Street
Cerebras Systems Cratered by 20% This Year: It's Going to Double in Price According to This Respected Wall Street Analyst
Rumor Mill · CBRS
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
Related Stock Research
Continue researching this company with related Wall Street Score rankings and investing guides.
Score Alerts
Premium unlocks alerts when a score rises, falls, or reaches your target price.
Start 7-Day Free TrialPortfolio Score
Premium unlocks portfolio scoring, strongest and weakest holdings, and overall margin of safety.
Start 7-Day Free Trial