Cerebras reported third-quarter revenue of $210.8 million and raised its full-year core outlook to $940 million to $960 million.
Cerebras reported third-quarter revenue of $210.8 million, up 55% from a year earlier, and raised its full-year outlook. The quarter ended September 30. The company calls $210.8 million a record on a standard accounting basis.
On the company's own core measure, which leaves out stock pay, customer-warrant costs, and data-center bills passed through to customers, revenue was $230.9 million, up 70%. Core cloud revenue was $144.9 million, up 272%. Standard cloud revenue was $141.9 million, up 265%.
Standard gross margin was 20%. The core gross margin was 41%. The standard operating margin was a loss of 106%. The core operating margin was a loss of 14%.
For the current quarter, Cerebras expects core revenue of $310 million to $330 million and a core gross margin of 47% to 49%. For the full year, it expects core revenue of $940 million to $960 million. Chief executive Andrew Feldman said the company expects to triple revenue in 2027.
"We exceeded our guidance across the board for the third quarter in a row."
That line is from chief financial officer Bob Komin. The company also said it has $7.8 billion in cash and short-term investments, $26.1 billion in remaining performance obligations, and 700 megawatts of data-center capacity under contract through the end of 2027.
"Today, Cerebras announced an important cloud deal with a top three hyperscaler."
The release does not name that customer and says more will be shared next year. It does name Oracle. Cerebras inference is set to join Oracle Cloud Infrastructure in 2027. New capacity contracts were signed in Norway and Finland.
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