NASDAQ : CBRS
Cerebras Systems Inc. — Financial statements
Technology · Software - Infrastructure · United States
Last price 115.16 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 27.36B
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Financial statements
Cerebras Systems Inc. (CBRS) reported revenue of 680.67M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | 680.67M | 509.99M | 290.25M | 78.74M | 24.62M |
| Cost of Revenue | 443.10M | 310.92M | 167.51M | 52.39M | 21.73M |
| Gross Profit | 237.57M | 199.07M | 122.74M | 26.36M | 2.89M |
| Selling, General & Admin | 264.14M | 101.61M | 65.94M | 20.23M | 26.30M |
| Research & Development | 525.45M | 243.32M | 158.23M | 140.06M | 155.41M |
| Operating Expenses | 790.05M | 344.93M | 224.18M | 160.29M | 181.71M |
| Operating Income | -552.48M | -145.86M | -101.44M | -133.93M | -178.82M |
| Interest & Investment Income | 86.54M | 26.80M | 23.23M | 5.68M | 1.08M |
| Other Non Operating Income (Expenses) | -2.53M | 408.00K | -401.46M | 1.23M | 230.00K |
| EBT Excluding Unusual Items | -507.07M | -118.65M | -479.68M | -127.02M | -177.51M |
| Gain (Loss) on Sale of Investments | 200.00K | 200.00K | |||
| Other Unusual Items | 363.34M | ||||
| Pretax Income | -506.87M | 244.88M | -479.68M | -127.02M | -177.51M |
| Income Tax Expense | 5.48M | 7.06M | 1.93M | 132.00K | 204.00K |
| Net Income | -512.35M | 237.83M | -481.60M | -127.16M | -177.72M |
| Preferred Dividends & Other Adjustments | -25.11M | 149.95M | 3.18M | ||
| Net Income to Common | -487.24M | 87.88M | -484.78M | -127.16M | -177.72M |
| Shares Outstanding (Basic) | 81.00M | 53.62M | 48.97M | 43.55M | 41.48M |
| Shares Outstanding (Diluted) | 81.00M | 171.82M | 48.97M | 43.55M | 41.48M |
| EPS (Basic) | -6.02 | 1.64 | -9.90 | -2.92 | -4.28 |
| EPS (Diluted) | -6.33 | 1.38 | -9.90 | -2.92 | -4.28 |
| Free Cash Flow | -680.21M | -392.79M | 428.54M | -85.57M | -174.87M |
| Free Cash Flow Per Share | -8.40 | -2.29 | 8.75 | -1.97 | -4.21 |
| Gross Margin | 34.90% | 39.03% | 42.29% | 33.47% | 11.74% |
| Operating Margin | -81.17% | -28.60% | -34.95% | -170.09% | -726.35% |
| Profit Margin | -71.58% | 17.23% | -167.02% | -161.48% | -721.88% |
| Free Cash Flow Margin | -99.93% | -77.02% | 147.65% | -108.67% | -710.28% |
| EBITDA | -484.79M | -111.41M | -89.90M | -123.35M | -166.98M |
| EBITDA Margin | -71.22% | -21.84% | -30.97% | -156.65% | |
| D&A For EBITDA | 67.69M | 34.45M | 11.54M | 10.58M | 11.84M |
| EBIT | -552.48M | -145.86M | -101.44M | -133.93M | -178.82M |
| EBIT Margin | -81.17% | -28.60% | -34.95% | -170.09% | |
| Effective Tax Rate | 2.88% | ||||
| Revenue as Reported | 680.67M | 509.99M | 290.25M | 78.74M | 24.62M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 6.74B | 701.71M | 220.21M | 34.76M | 26.08M |
| Short-Term Investments | 1.18B | 406.53M | 116.94M | 117.63M | 199.26M |
| Cash & Short-Term Investments | 7.92B | 1.11B | 337.15M | 152.39M | 225.33M |
| Accounts Receivable | 142.59M | 66.67M | 146.69M | 6.76M | 3.73M |
| Other Receivables | 27.98M | 7.34M | 3.93M | 2.00K | 1.35M |
| Receivables | 170.58M | 74.01M | 150.62M | 6.77M | 5.08M |
| Inventory | 32.67M | 63.63M | 174.49M | 49.08M | 19.54M |
| Prepaid Expenses | 144.48M | 8.20M | 6.46M | 3.66M | 2.37M |
| Restricted Cash | 684.68M | 228.67M | 361.76M | 19.00K | 119.00K |
| Other Current Assets | 167.76M | 60.91M | 374.00K | 733.00K | |
| Total Current Assets | 9.12B | 1.54B | 1.03B | 212.29M | 253.17M |
| Property, Plant & Equipment | 1.52B | 686.35M | 79.75M | 13.03M | 28.07M |
| Other Long-Term Assets | 991.08M | 96.05M | 2.51M | 173.00K | 250.00K |
| Total Assets | 11.63B | 2.33B | 1.11B | 225.50M | 281.49M |
| Accounts Payable | 88.31M | 48.63M | 25.63M | 14.69M | 5.05M |
| Accrued Expenses | 218.97M | 111.65M | 69.65M | 21.29M | 11.59M |
| Current Portion of Leases | 88.42M | 45.87M | 13.30M | 318.00K | 736.00K |
| Current Income Taxes Payable | 788.00K | 219.00K | |||
| Current Unearned Revenue | 173.74M | 131.05M | 38.54M | 13.68M | 2.56M |
| Other Current Liabilities | 260.61M | 382.35M | 1.03B | 3.88M | 1.64M |
| Total Current Liabilities | 1.57B | 719.54M | 1.18B | 54.64M | 21.80M |
| Long-Term Leases | 480.40M | 215.96M | 27.37M | 242.00K | 562.00K |
| Long-Term Unearned Revenue | 244.53M | 35.85M | 18.89M | 5.55M | 1.43M |
| Long-Term Deferred Tax Liabilities | 132.00K | 114.00K | |||
| Other Long-Term Liabilities | 5.07M | 1.11M | 1.14M | ||
| Total Liabilities | 2.47B | 971.34M | 1.23B | 61.68M | 25.05M |
| Common Stock | 2.00K | 1.00K | 1.00K | ||
| Additional Paid-In Capital | 10.54B | 346.83M | 176.23M | 101.58M | 68.47M |
| Retained Earnings | -1.37B | -905.33M | -1.14B | -661.55M | -534.40M |
| Treasury Stock | -21.46M | -21.46M | -88.00K | -88.00K | -88.00K |
| Comprehensive Income & Other | 5.77M | 1.30M | 220.00K | 1.10M | -319.00K |
| Total Common Equity | 9.15B | -578.65M | -966.79M | -558.96M | -466.33M |
| Shareholders' Equity | 9.15B | 1.35B | -116.72M | 163.82M | 256.45M |
| Total Liabilities & Equity | 11.63B | 2.33B | 1.11B | 225.50M | 281.49M |
| Total Debt | 1.49B | 261.82M | 40.67M | 560.00K | 1.30M |
| Net Cash (Debt) | 6.43B | 846.41M | 296.48M | 151.83M | 224.04M |
| Net Cash Per Share | 79.44 | 4.93 | 6.05 | 3.49 | 5.40 |
| Filing Date Shares Outstanding | 237.56M | 57.02M | 53.07M | 45.06M | 41.48M |
| Total Common Shares Outstanding | 227.31M | 57.02M | 53.07M | 45.06M | 41.48M |
| Working Capital | 7.56B | 824.11M | -147.66M | 157.65M | 231.37M |
| Book Value Per Share | 40.27 | -10.15 | -18.22 | -12.40 | -11.24 |
| Tangible Book Value | 9.15B | -578.65M | -966.79M | -558.96M | -466.33M |
| Tangible Book Value Per Share | 40.27 | -10.15 | -18.22 | -12.40 | -11.24 |
| Machinery | 434.98M | 302.79M | 54.66M | 28.65M | 39.62M |
| Construction In Progress | 604.03M | 163.45M | 7.78M | 97.00K | |
| Leasehold Improvements | 38.79M | 22.35M | 3.95M | 488.00K | 399.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Net Income | -512.35M | 237.83M | -481.60M | -127.16M | -177.72M |
| Depreciation & Amortization | 67.69M | 34.45M | 11.54M | 10.58M | 11.94M |
| Loss (Gain) From Sale of Assets | 3.14M | 6.91M | |||
| Loss (Gain) From Sale of Investments | -5.17M | 1.18M | |||
| Stock-Based Compensation | 413.93M | 49.77M | 58.56M | 26.63M | 16.88M |
| Other Operating Activities | 163.18M | -316.46M | 420.01M | 3.18M | 12.75M |
| Change in Accounts Receivable | -111.43M | 87.01M | -130.67M | -3.04M | 4.24M |
| Change in Inventory | 19.49M | 63.31M | -144.97M | -25.19M | -37.50M |
| Change in Accounts Payable | 15.40M | 21.15M | 9.01M | 9.78M | 250.00K |
| Change in Unearned Revenue | 219.39M | 109.47M | 38.20M | 15.24M | -825.00K |
| Change in Other Net Operating Assets | -209.00M | -296.58M | 671.91M | 13.03M | -2.51M |
| Operating Cash Flow | 66.31M | -10.05M | 451.98M | -78.98M | -164.40M |
| Capital Expenditures | -746.52M | -382.74M | -23.43M | -6.59M | -10.46M |
| Sale of Property, Plant & Equipment | 24.00K | ||||
| Investment in Securities | -1.14B | -284.84M | 6.65M | 88.29M | 147.83M |
| Investing Cash Flow | -1.89B | -667.58M | -16.79M | 81.70M | 137.39M |
| Issuance of Common Stock | 6.28B | 17.30M | 27.75M | 6.00M | 13.02M |
| Repurchase of Common Stock | -440.98M | -24.32M | -3.88M | ||
| Other Financing Activities | -83.08M | -66.42M | -456.00K | -63.00K | -37.00K |
| Financing Cash Flow | 8.87B | 1.03B | 112.30M | 5.93M | 9.10M |
| Foreign Exchange Rate Adjustments | -795.00K | -521.00K | -304.00K | -73.00K | -331.00K |
| Net Cash Flow | 7.05B | 348.41M | 547.18M | 8.58M | -18.24M |
| Free Cash Flow | -680.21M | -392.79M | 428.54M | -85.57M | -174.87M |
| Free Cash Flow Margin | -99.93% | -77.02% | 147.65% | -108.67% | -710.28% |
| Free Cash Flow Per Share | -8.40 | -2.29 | 8.75 | -1.97 | -4.21 |
| Levered Free Cash Flow | -622.92M | 460.35M | -51.90M | ||
| Unlevered Free Cash Flow | -622.92M | 460.35M | -51.90M | ||
| Cash Income Tax Paid | 9.03M | 1.70M | 258.00K | 126.00K | 39.00K |
| Change in Working Capital | -66.15M | -15.64M | 443.47M | 9.81M | -36.34M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Market Capitalization | 23.71B | ||||
| Enterprise Value | 17.27B | ||||
| Debt / Equity Ratio | 0.16 | 0.19 | -0.35 | 0.00 | 0.01 |
| Debt / FCF Ratio | 0.10 | ||||
| Net Debt / Equity Ratio | -0.70 | -0.62 | 2.54 | -0.93 | -0.87 |
| Net Debt / EBITDA Ratio | 13.27 | 7.60 | 3.30 | 1.23 | 1.34 |
| Net Debt / FCF Ratio | 9.46 | 2.15 | -0.69 | 1.77 | 1.28 |
| Asset Turnover | 0.30 | 0.43 | 0.31 | ||
| Inventory Turnover | 2.61 | 1.50 | 1.53 | ||
| Quick Ratio | 5.17 | 1.64 | 0.41 | 2.91 | 10.57 |
| Current Ratio | 5.83 | 2.15 | 0.88 | 3.88 | 11.61 |
| Return on Equity (ROE) | 38.42% | -2,045.32% | -60.51% | ||
| Return on Assets (ROA) | -5.30% | -9.47% | -33.02% | ||
| Return on Invested Capital (ROIC) | -24.01% | -63.97% | -603.31% | -551.75% | |
| Return on Capital Employed (ROCE) | -5.50% | -9.10% | 155.10% | -78.40% | -68.90% |
| Buyback Yield / Dilution | -61.24% | -250.86% | -12.45% | -4.98% |