Cerebras · Bitcoin · US Congress · CoinDesk
Cerebras raised $6 billion in a May IPO priced at $185 per share
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The stock soared as high as $385 shortly after going public, but has since retreated.
Key facts
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- First-quarter revenue nearly doubled from the year-ago level to $193.4 million, and the company's adjusted net loss of $2.5 million beat analyst forecasts of $36.75 million
- Cerebras raised $6 billion in a May IPO priced at $185 per share
- For the second quarter, the company guided to revenue of $194 million, but investors, for now, appear focused on core gross margin, the company expects 36%-38% in the second quarter versus 46.5%
Summary
In its first earnings report since its May IPO, Cerebras Systems (CBRS) is lower by 11% in after-hours trading after guiding to lower profit margins next quarter. First-quarter revenue nearly doubled from the year-ago level to $193.4 million, and the company's adjusted net loss of $2.5 million beat analyst forecasts of $36.75 million. For the second quarter, the company guided to revenue of $194 million, but investors, for now, appear focused on core gross margin, the company expects 36%-38% in the second quarter versus 46.5% in the first. Cerebras raised $6 billion in a May IPO priced at $185 per share. 1 Bitcoin drops toward $62,000 as the chip selloff deepens for a second day 32 minutes ago.