Cerebras reports Q2 2026 earnings with $210M core revenue, raises FY26 guidance

Cerebras Systems posted stronger-than-expected results for its second fiscal quarter of 2026, reporting $210 million in core revenue and raising guidance for both Q3 and the full year. The print arrived after the market closed on August 12, clearing the approximately $194 million that analysts had penciled in and extending what has been a remarkably consistent upward revision cycle since the company’s IPO earlier this year. Wall Street had expected roughly 88% year-over-year core revenue growth heading into the print. Where the numbers stand Cerebras reported Q1 2026 total revenue of $193.4 million, up 94% year over year, with core revenue of $191.3 million, up 92% year over year. The Q2 result of $210 million in core revenue represents sequential growth on top of an already strong prior quarter. The full-year 2026 core revenue guidance, which stood at $855 million to $865 million heading into this print, has now been revised upward. The prior midpoint of roughly $860 million already implied approximately 69% year-over-year growth. In Q1, Cerebras reported a core gross margin of 47%. Heading into Q2, the company had already flagged that margins would compress, guiding to a range of...